PL

INR Management Real Estate insolvent

Hotels
ROMANIA INR Management Real Estate has been declared insolvent.
The court appointed administrator, Euro Insol, has decided that it is too early to give further details, but local media has reported that the company owes around EUR 80 mln, with its main creditor being BCR. The company was developing the 440,000 sqm Silver Mountain resort in an estimated investment of 300 mln, which was to include 15 villas, 600 apartments, a 184-room Radisson hotel, two cinemas, a heliport and a golf course. So far five villas with 207 apartments, a spa centre and a shopping centre have been built.

Latest news

Warehouse & industrial

Poland Work commences at City Point Targówek

schedule 17 July 2024
Opr./edited by ANZ

The joint venture between Partners Group and Peakside Capital Advisors has launched the construction of the C2 facility at City Point Targówek. The light industrial building will offer 25,000 sqm of space with units starting from 1,000 sqm. Depenbrock Poland is the general contractor for the project.

Material partner

Croatia Exclusive Auction: Unique Investment Opportunity in Istria

schedule 12 June 2024
Eurobuild CEE

Colliers, in partnership with Illyrian Land Funds, is announcing an exclusive auction for a prime development land site in Istria, Croatia. This property, covering 1,603,903 sqm, is ideal for a mixed-use resort development near Vodnjan, a charming town in Istria, Croatia's top tourist region. The site is just a 15-minute drive from the seafront

Warehouse & industrial

Germany Garbe leases in Werne

schedule 17 July 2024
Opr./edited by ANZ

Garbe has signed a long-term lease agreement with Lecangs, a company specialising in warehouse logistics, in Werne, North Rhine-Westphalia. New tenant will use around 21,000 sqm of warehouse space and around 1,000 sqm of office and social space in the logistics property for its German subsidiary Flexispot.

Retail & leisure

Poland Polish retail market continues its strong momentum

schedule 16 July 2024
Opr./edited by ANZ

Cushman & Wakefield has summarised the situation on the Polish retail market in Q2 2024. There were eight new retail completions with the development pipeline comprising app. 400,000 sqm. This indicates healthy supply levels amid unwavering occupier demand and strong retail sales, shopping centre footfall and turnover figures.

Investment & finance

Croatia S Immo gradually withdraws from Croatian office market

schedule 16 July 2024
Opr./edited by ANZ

S Immo has completed the sale of the HOTO Business Tower in Zagreb. The office building is located on the south-western edge of the central business district of the Croatian capital and comprises a total leasable area of around 15,500 sqm.

Warehouse & industrial

Poland Fully commercialised in Goleniów

schedule 15 July 2024
Opr./edited by JC

Panattoni has signed a lease contract for over 16,000 sqm in Panattoni Park Goleniów I with logistics operator Fiege. With this deal the entire 60,000 sqm park has been fully commercialised.

Residential

Poland Not only for students

schedule 15 July 2024
Opr./edited by JC

The Collegia Group is launching another investment in the Tricity. A complex that will combine the functions of a student house, hotel and service space will be built at Grunwaldzka Avenue in Gdańsk.

Warehouse & industrial

Romania Continental Tires got 20,000 sqm

schedule 15 July 2024
Opr./edited by JC

VGP has completed the eighth building of VGP Park Timisoara with the handover of the warehouse to Continental Tires Timisoara. The company will use about 20,000 sqm for its tyre storage operations.

Investment & finance

Romania Revetas has sold The Landmark

schedule 15 July 2024
Opr./edited by JC

Revetas Capital announces the disposal of the office park The Landmark in Bucharest to Vectr Holdings, through its subsidiary Vectr Realty. Developed in 2017, the complex offers 23,700 sqm of office space.

Office & mixed-use development

Romania TMF relocates to America House

schedule 15 July 2024
Opr./edited by JC

TMF Group has signed a lease agreement for 1,700 sqm of office space at America House, the office building in Bucharest's CBD.

Investment & finance

Poland Vis à Vis changes hands

schedule 15 July 2024
Opr./edited by JC

Precordia Capital and Septyma have become holders of 66 pct of shares in the convenience retail park Street Mall Vis à Vis Wilanów. They acquired the shares from Capital Park.

ESG

Poland Craft is truly Outstanding

schedule 12 July 2024
Opr./edited by JC

The Craft office building, developed by Ghelamco in Katowice, has obtained BREEAM certification with the rating of Outstanding.

Warehouse & industrial

Poland TPL Logistic grows in Błonie

schedule 11 July 2024
Opr./edited by JC

TPL Logistic has expanded its presence at P3 Błonie park by leasing nearly 3,700 sqm warehouse and office space. This addition increases their total occupied space in the park to 5,000 sqm across two warehouses.

Investment & finance

Poland LifeSpot wants to expand

schedule 11 July 2024
Opr./edited by JC

LifeSpot, owned by funds managed by Ares Management and Griffin Capital Partners, has secured access to further capital from both parties. The investment will be used to support the development of rental housing and expand the platform’s presence within Poland’s private rental sector.

Retail & leisure

Romania Food market to open at One Gallery

schedule 10 July 2024
Opr./edited by JC

One United Properties announced the lease of a retail space with a GLA of 3,600 sqm on the ground floor of One Gallery building, including terraces and storage spaces. The contract has been signed with Tomcat Hospitality.

Warehouse & industrial

Poland Sport-Shop takes up 13,000

schedule 10 July 2024
Opr./edited by JC

Panattoni has launched construction work on a new centre – Panattoni Park Bieruń I. The project has an area of almost 20,000 sqm and it has already found the first tenant.

Office & mixed-use development

Poland Full insurance at B4B

schedule 09 July 2024
Opr./edited by JC

Bonarka for Business "B4B", office complex located in Kraków, has secured a new lease with ZUS (The Social Insurance Institution). The company has leased 2,400 sqm office space in building D.

Warehouse & industrial

India Panattoni debuts in India

schedule 08 July 2024
Opr./edited by JC

Panattoni has announced the groundbreaking ceremony of Panattoni Park NH71 in Delhi NCR. This project marks Panattoni's strategic entry into the Indian market.

Investment & finance

Poland Xior has bought LivinnX

schedule 08 July 2024
Opr./edited by JC

On behalf of private investors, together with CA Ventures and Golub & Co., Savills has completed the sale of LivinnX, a PBSA building in Kraków. The buyer is Xior.

Warehouse & industrial

Romania Crane is moving to Arad

schedule 08 July 2024
Opr./edited by JC

Crane ChemPharma & Energy has secured a lease for 3,000 sqm of production space within Industra Park Arad in Romania, developed by Oresa Industra. The global industrial manufacturer is a subsidiary of Crane Company.

Latest in Hotels

schedule 24 June 2024

Curio's Croatian debut

Hotel Opatija, Curio Collection by Hilton celebrates its opening. The 54-room facility debuts as the first in Croatia and the brand’s 40th trading country.

schedule 22 May 2024

Skybar opens in Budapest

Cloud IX, Budapest’s latest panoramic skybar, has been opened in the ibis & Tribe Budapest Stadium Hotel in the WING Liberty building. Opened last December in Budapest’s District IX, the hotel complex boasts a total of 332 rooms and a wide range of services.

schedule 17 April 2024

IHG doubles in Germany

IHG Hotels & Resorts and Novum Hospitality announced a long-term agreement that will double IHG’s presence in Germany to more than 200 hotels in almost 100 cities through Holiday Inn – the niu brand collaboration and European debuts for IHG’s Garner and Candlewood Suites.

schedule 03 April 2024

CPI sells stake in hotel portfolio

CPI Property Group has sold a 50 pct stake in a subsidiary that owns eight hotel properties in the Czech Republic to Bratislava-based Best Hotel Properties (BHP), with whom it has also signed a JV agreement for the continued management of the hotels.

schedule 08 March 2024

The first in Southeast Europe

Radisson RED Belgrade has opened its doors as a new upscale lifestyle hotel, marking the debut of the Radisson RED brand in Southeast Europe.

schedule 27 February 2024

Bucharest hotel market rebounds

The hotel market in Bucharest has experienced a moderate annual average growth in new offerings, at 0.9 pct between 2019 and 2023. This modest trend was primarily influenced by the cancellation of Urban Zoning Plans. Between 2024 and 2025, an estimated average annual growth rate of 4.1 pct in the number of rooms is expected, according to data from the real estate consulting company Cushman & Wakefield.

schedule 15 February 2024

Accelerated recovery

According to Cushman & Wakefield analysis, after a period when the Prague hotel market was lagging behind other European cities in terms of recovery from the impacts of the covid pandemics, all of its performance indicators increased significantly in 2023. The Prague hotel market proves its resilience and attractivity.

schedule 05 February 2024

IHG's European debut

IHG Hotels & Resorts announced its first Holiday Inn & Suites property in Europe with the signing of Holiday Inn & Suites Budapest Centrale – part of its Holiday Inn Hotels & Resorts brand.

schedule 10 January 2024

The Luxury Collection will make its debut in Krakow

Marriott International and the Dobry Hotel Group have signed an agreement to create The Luxury Collection brand's first hotel in Krakow in the historic Lubomirski Palace building.

schedule 30 November 2023

The seventh Accor in Kraków

A new hotel is being built in Kraków. It will be the seventh facility of the AccorInvest/Orbis group in the capital of Malopolska under the Accor brand in the lifestyle segment. The hotel is scheduled to open in Q2 2025.

schedule 22 November 2023

Grand Budapest Hotel

Marriott Bonvoy's Autograph Collection Hotels brand is making its debut in Hungary with the opening of its first hotel in Budapest. The Dorothea Hotel is housed in three historic buildings and is named after Archduchess Dorothea, who contributed to the city's development in the 19th century.

schedule 15 November 2023

A luxurious hotel to be opened in Bucharest

One United Properties has signed a memorandum of understanding with Ennismore for opening Mondrian Bucharest, a highly exclusive lifestyle hotel in downtown Bucharest.

schedule 19 October 2023

Hilton to open Canopy in Warsaw

Canopy by Hilton Warsaw, the first lifestyle hotel of the Hilton chain in Poland, is to open in 2025 in the centre of the city.

schedule 13 October 2023

Tribe arises at Budapest Airport

Local developer Wing in cooperation with Budapest Ferenc Liszt Airport has begun the construction of the Tribe hotel at the airport.

schedule 04 September 2023

Hampton by Hilton debuts in Hungary

Hampton by Hilton Budapest City Centre, the country's first hotel under the Hampton by Hilton brand, has opened in Budapest.

schedule 25 August 2023

Rooms with a view

AC Hotels by Marriott, part of Marriott Bonvoy’s portfolio of 31 brands, has announced its brand debut in Croatia with the opening of AC Hotel by Marriott Split. The new hotel is housed on the high floors of the 135-metre-high Westgate Tower with spectacular views of the Adriatic Sea and Split’s unique cityscape.

schedule 21 August 2023

The top 5 hotel markets

In Cushman & Wakefield’s latest Hotel Operator Beat survey, Budapest was placed as the most attractive market in CEE, reaching 4.3 points on a 1–5 scale where 5 means very high interest. Prague is a little step down with 4.2 points, and Warsaw, Kraków and Bucharest complete the top 5 markets targeted by hotel operators.

schedule 08 August 2023

Ibis Styles checks in at Warsaw Airport

The opening has taken place of the Ibis Styles Warsaw Airport hotel, which is situated about 3.5 km from Fryderyk Chopin Airport in Warsaw.

schedule 27 July 2023

Marriott to open Cres hotel

Marriott International has signed an agreement with Valdarke to open an Autograph Collection resort on the isle of Cres in Croatia. The hotel will be the international brand's first on the island.

schedule 17 July 2023

Historic Braşov hotel sold for EUR 9.4 mln

Aro Palace, whose majority shareholder is investment fund Transilvania Investments, has sold the Coroana-Postăvaru Hotel in Braşov in central Romania to Elevate Properties for EUR 9.367 mln.

Edition 6 (289) June 2024

Latest comments

Categories