Edition 6 (181) June 2013


Something borrowed...

An engaged couple went into a jewellery shop to buy their wedding rings. A date had already been set for the big day, so the shop assistant asked whether the wedding date and the name of the husband should both be engraved on the bride-to-be's ring.

Ewa Andrzejewska
Investment & finance

Crossing the Carpathians

CEE REGION Penta Investments is company that is determined to build up a property portfolio in Poland and has already established a local team in Warsaw to compete for a share in the city's office market.

Investment & finance

Finding new niches

POLAND Gliwice-based construction and development company P.A. Nova, present on the market since 1987 and on the Warsaw Stock Exchange since 2007, is planning to invest in industrial and warehouse projects as well as the hotel segment. Until now the company has mostly been involved in developing retail projects for external customers as well as its own shopping centres, but it is now adopting a new strategy. This involves the diversification of its operations through the development of industrial plants, warehouse and logistics facilities, as well as economy-class hotels.

Aneta Cichla
Retail & leisure

Cautiously and sensitively

CEE REGION Austrian company Raiffeisen evolution was established ten years ago and the company inherited from one of its shareholders a plot for a shopping centre in Warsaw's Wawer district. Today its directors are celebrating the anniversary as well as the approaching launch of construction work on the long-awaited mall project. Even though Poland and Austria are the developer's key markets, the company is also busy in other countries in our region of Europe.

Aneta Cichla

From mono to multi

POLAND If there's one thing that Marian Okręglicki, the president of the board of Sawa Apartments, cannot complain about, it's not having any work to do. His company has just finished developing the first stage of the Sawa Wilanów residential project, which has been carried out together with BRE Property Partner in Warsaw's Wilanów district, and is now planning two more stages with app. 360 apartments.

Zuzanna Wiak

Catching MICE

POLAND PLN 1.35 bln - this figure represents the revenue of hotels from overnight stays by the participants of conferences, congresses and similar events in Poland last year. It is estimated that the MICE sector (meetings, incentives, conferences and exhibitions) generated 4.5 mln overnight hotel stays in Poland in 2012, constituting 7.3 pct of the total. On one point market analysts are unanimous: this is a market that still has considerable potential.

Rafał Ostrowski
Stock market report

Indexical bipolarity

The major global stock exchanges are enjoying a boom, whereas emerging markets, including Warsaw, are at best stable. Meanwhile, the WSE construction index is out-performing the rest of the bourse, but thedevelopment sector has started to struggle


Clubbing together

The words "the largest CEE refinancing transaction for several years" should lift the heart of even the most pessimistic market observer. It was these words that we were hearing recently when this news was announced

Nathan North
Investment & finance

Almost a five-star investment

Hotels are not very popular on the Polish investment market. This can be blamed on a number of factors such as the nature of the hotel business, the lack of large investors interested in such acquisitions, and the desire of hotel chains to divest their own properties in order to become management companies

Aneta Cichla
Investment & finance

Departing from the plot

Owners of Investment land have recently been lowering their expectations - reducing their prices and agreeing to deferred payments. Thanks to this, the number and overall value of transactions is now growing

Radosław Górecki
Office & mixed-use development

Stadiums after the Euros

It's been a year since the European football championships and the four Polish arenas just keep on making losses. How can this negative trend be reversed? Their managers are trying various approaches, with each claiming that profitability is only a matter of time

Rafał Ostrowski
Green projects

The green wave that never came

Five years ago, on the pages of this magazine we heralded a boom in eco-friendly and energy efficient residential construction. That was before the financial crisis took hold, which we now have to admit has put paid to the eco-plans of even the boldest housing developers

Zuzanna Wiak

Less mall-minded

The retail sector has become increasingly sensitive to the economic slowdown and aware that the internet is breathing down its neck. As the weaker turnover from tenants leaks out to the public, the realisation is dawning that it's not worth tilting at windmills, it is better to adapt


The start of a new cycle

The good news from around the world is that people increasingly want to go out onto the streets. Not to protest - they simply want to enjoy urban life

Radosław Górecki