Edition 7 (222) July 2017


This could be the first time

Summer is finally here! Do you remember your first time?

Ewa Andrzejewska
Investment & Finance

The market needs institutional quality

What prompted Catella to invest in Poland – in Złota 44, in particular?

Interviewer: TSG
Retail & leisure

Adapt and survive

How do you view Poland and the other CEE retail markets?

Interviewer: Anna Pakulniewicz
Retail & leisure

EPP sets out its plans

POLAND EPP and Echo Investment have finalised the EUR 42 mln purchase from Rosehill Investments of the Galeria Młociny shopping centre, which is under construction in the northern suburbs of Warsaw.


A market divided

POLAND Over 7,000 hotel rooms are being developed in Warsaw, Kraków and Gdańsk – mostly in the midscale and upscale segments. Why is the Polish market divided in such a manner? Is there space for further luxury hotel projects in Poland? These and many other topics connected with the hotel market were discussed by the speakers on one of the panels at the 8th Hotel Investment Conference organised by Eurobuild Conferences, which took place in Warsaw on June 8th.

Magdalena Rachwald
Stock market report

Boredom is bliss

The end of spring and early summer turned out to be a period of calm for the global stock exchanges. In June the main markets were quite simply... boring – even in spite of the historic peaks reached on the American and German bourses. In Poland the shifts on the main index of the largest companies, the WIG20, were somewhat insignificant. The construction companies’ index lost a little of its value, but the index for developers more than made up for its recent losses


Polishing diamonds or chasing our tails

According to the latest bill to institute Polish real estate investment trusts, this type of entity is to be defined as a joint stock company registered in Poland with the basic goal of paying regular dividends to shareholders from the profits from leasing real estate

Tomasz Szpyt-Grzegórski
Investment & Finance

Muscling in on the scene

They have ambitious goals, they are itching to develop themselves, and the owner – the EQT fund – is hungry for success. Michał Ćwikliński has been chosen to be the head of Apleona GVA in Poland and to introduce the company to the market. He spoke to us about his plans for its entrance

Ewa Andrzejewska
Office & mixed-use development


Warsaw’s Mokotów business district suffers from a poor reputation – but it could be so much better

Alex Hayes
Office & mixed-use development

Sharing with the small guys

Even though the largest urban centres continue to be the main locations for business service centres, investors’ interest in smaller towns is now growing

Rafał Ostrowski
Retail & leisure

Rocking the retail scene

Last year Rockcastle’s CeE portfolio became significantly larger, as Bonarka in Kraków, two Focuses in Zielona Góra and Piotrków Trybunalski and Forum Liberec were added to it. The investor’s appetite for further acquisitions has not abated and it is now looking for more opportunities – but it still needs to do some work on its purchases. Marek Noetzel of Rockcastle Global Real Estate tells us all about the company’s redevelopments, as well as its extension and recommercialisation plans

Ewa Andrzejewska

The game of the name

How can developers find the inspiration for naming their latest residential estates, when they already have dozens under their belts and the coolest and most original names have all been snapped up by their rivals?

Tomasz Cudowski

To make a pong story short…

More than 30 contestants took part in the 2nd Table Tennis Tournament for the real estate and construction market organised by CMT and ‘Eurobuild CEE’. The weather and the atmosphere were good – and there was certainly no shortage of excitement

Tomasz Cudowski

Fire in their bellies

Whilst the people of the UK were voting in a weak and ineffectual government in the lead up to the Brexit negotiations, another event of possibly equal importance was taking place in Warsaw at the Westin hotel – namely, the 8th Eurobuild CEE Hotel Investment Conference, on June 8th


It’s raining balls

It rained. In fact early in the morning on June 23rd, it was bucketing down. But golfers are a stoic breed – and so despite the inclement weather they came anyway to the 16th Eurobuild CEE Golf Tournament at the Warsaw Golf and Country Club, which was sponsored by (among others) MBank Hipoteczny and Hillwood

Alex Hayes & Rafał Ostrowski

Ban it!

If a political party or a substance does more harm than good, then states sometimes ban them. Why is the same not done with sport? I would start with football

Tomasz Cudowski