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It’s at last becoming possible to assess the consequences for Croatia’s construction sector of the country’s July 2020 elections. Jockeying for governmental positions, COVID-19- and tourism-season-related priorities and other pressing matters prevented the new Croatian Democratic Union (HDZ) led government from moving on its larger agenda until recently. Now, though, the political picture, and the impact of the elections on Croatia’s construction sector, is getting clearer, according to a report by the Eastern European Construction Forecasting Association.

Lion’s Head Investments has announced the appointment of Anca Simionescu as Country Manager in Romania, responsible for the implementation of the Group’s strategy in the country.

CA Immo has signed and closed the sale of the Zagreb Tower office building to Austrian property company S Immo AG at a 5% premium to H1 2020 book value.

JLL announced the first edition of the Sofia City Report, a semiannual publication which provides a detailed view of specific real estate markets in Sofia: office, retail and warehouses. It offers information on the economic situation in Bulgaria, including the investment climate. The report was made with the support of IPC Partners Bulgaria.

The construction sector in Bulgaria, and building construction in particular, was not affected as hard as others by the COVID-19 crisis, according to a report by the Eastern European Construction Forecasting Association.

Austrian developer Supernova has laid the foundation stone for a €70 million project aimed at the expansion of the Supernova Ljubljana Rudnik shopping centre in Ljubljana. Upon the completion of the project, Supernova Ljubljana Rudnik will become the biggest shopping centre in Slovenia.

In the first half of 2020, the supply of modern class A, B and C office space in Sofia increased by 1%, reaching 2,315,600 sqm, according to Colliers International. The recently completed building 3 of Garitage Park accounted for much of the growth in the office stock.

The Belgrade city government has invited bids for the sale of the Sava congress centre at a minimum price of€ 27.42 million.

Law firm Kinstellar has successfully represented OTP Bank and its Bulgarian subsidiary, DSK Bank, in negotiating a €25 million loan for the construction and operation of Balkan Business Center, a major office complex in Sofia.

The construction industry in most of Southeastern Europe will be bruised by the pandemic effects this year, causing a drop in construction outputs. The two exceptions are Croatia and Bulgaria where civil engineering could compensate for the losses elsewhere. Already in 2021, we are likely to see positive growth rates in all 5 countries, according to the Eastern European Construction Forecasting Association