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Economies rebalance in wake of coronavirus

Coronavirus
CEE REGION According to analysis by Colliers International all CEE economies this year are to decline or fall into recession as a result of the coronavirus.
Poland should see a projected fall of 0.1 pct on GDP over the year, the Czech Republic could fall by 5.1 pct, Hungary by 0.3 pct, and Romania by 4.7 pct. So far the number of cases of coronavirus have been low, largely because CEE governments mostly implemented isolation policies early, but Colliers points out to a lack of testing and points out that the numbers could be misleading. CEE retail markets are facing the worst of the restrictive measures with all non-essential brick and mortar retail
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Latest news

Office & mixed-use development

Poland Ireland stays at Liberty Corner

schedule 14 January 2025
Opr./edited by ANZ

The Irish Embassy in Poland will remain in its current location in the Liberty Corner building in the centre of Warsaw for the next ten years. The diplomatic post has been based in the office building at ul. Mysia 5 since 2004.

Office & mixed-use development

Poland Arla Foods gets to the point

schedule 14 January 2025
Opr./edited by ANZ

Arla Global Shared Services – Arla GSS will move its local headquarters to the Punkt office building under construction in Gdańsk Wrzeszcz. The company has leased nearly 10,000 sqm of space, to which it will move in early 2026.

Warehouse & industrial

Romania Leading distributor extends lease at MLP Bucharest West

schedule 14 January 2025
Opr./edited by ANZ

A large distribution network operating in the Romanian market has extended its lease of 10,400 sqm of warehouse space at the MLP Bucharest West logistics park. According to the agreement, it will additionally receive modern office space of 330 sqm for use. 

Office & mixed-use development

Poland Indotek sells Bokserska Office Center

schedule 13 January 2025
Opr./edited by JC

Indotek Group has sold the Bokserska Office Center in Warsaw. The buyer is Enter Air, Polish charter airline, which intends to relocate its headquarters to the property. 

Hotels

Europe Mövenpick opens in Poland and beyond

schedule 13 January 2025
Opr./edited by JC

Mövenpick has made its debut in Poland with the opening of two hotels – Mövenpick Grand Hotel Wrocław and Mövenpick Resort & Spa Karpacz. The brand has plans for further expansion in Europe.

Investment & finance

Poland Remake's Polish debut

schedule 13 January 2025
Opr./edited by JC

Remake Asset Management, through its SCPI Remake Live fund, has entered the Polish market with two significant investments, acquiring four hotels across Warsaw, Kraków, Łódź, and Lublin, as well as a logistics facility in Wolborz.

Investment & finance

CEE Mitiska REIM secures €50 mln co-investment from EBRD

schedule 10 January 2025
Opr./edited by ANZ

Mitiska REIM, specialist investor in European convenience real estate, has announced it has secured a EUR 50 mln co-investment alongside the MEREP 3 value-add fund from the European Bank of Reconstruction and Development (EBRD). Along with other investments, this brings the total funds raised so far by MEREP 3 to EUR 290 mln.

Office & mixed-use development

Poland JDE stays in Diuna for longer

schedule 10 January 2025
Opr./edited by ANZ

Jacobs Douwe Egberts has extended its lease in the Warsaw office building from the Syrena Real Estate portfolio. The company will continue leasing nearly 1,300 sqm of space within Diuna complex.

Investment & finance

Poland Eiffage sells in Warsaw

schedule 09 January 2025
Opr./edited by ANZ

Eiffage Immobilier Polska has sold its first Polish PRS development to Heimstaden. Located in Warsaw's Praga-Północ district, the Białostocka 5D development offers 185 units. 

Warehouse & industrial

Poland Panattoni begins development at Wrocław Campus 2

schedule 08 January 2025
Opr./edited by ANZ

Panattoni has started speculative construction of the next phase of the Wrocław Campus 2 logistics complex. By June 2025, ca. 30,000 sqm will be delivered – part of a hall that will eventually reach 130,000 sqm, with the entire project totaling 160,000 sqm.

Warehouse & industrial

Poland Huhtamaki is staying at Logicor Czeladź

schedule 08 January 2025
Opr./edited by JC

Logicor has signed a lease extension agreement with Huhtamaki Foodservice.  The company occupies 34,600 sqm of warehouse and 2,700 sqm of office space in the entire No. 1 building in Czeladź.

Retail & leisure

Czech Republic Record-breaking year for the Czech market

schedule 07 January 2025
Opr./edited by ANZ

According to a survey by Cushman & Wakefield, which has been tracking new entries for 11 years, 47 brands entered the Czech market in 2024. This is the highest number of brands to enter the Czech market, compared to 40 brands in 2023. 

Investment & finance

Poland Panattoni sells in Zabrze

schedule 31 December 2024
Opr./edited by MR

Panattoni has finalized the sale of one of its Silesian investments. Generali Fond Realit (fund of Generali Group) company purchased Panattoni Park Zabrze II.

Investment & finance

Poland DL Invest acquires major brownfield site

schedule 23 December 2024
Opr./edited by JC

DL Invest Group has finalized the acquisition of a production and warehouse complex in Bielsko-Biała, with a total rental area exceeding 270,000 sqm.

Investment & finance

Czech Republic & Slovakia Blackstone acquires CT Real Estate

schedule 20 December 2024
Opr./edited by ANZ

Contera has announced a strategic partnership with Blackstone, the world's largest asset management company, to acquire CT Real Estate's portfolio of ten logistics parks for approximately €470 mln.

Investment & finance

POLAND Saski Point sold

schedule 20 December 2024
Opr./edited by NN

CA Immo has completed the sale of the Saski Point office building in central Warsaw to an undisclosed buyer.

Investment & finance

POLAND Investika makes biggest logistics deal of 2024

schedule 20 December 2024
Opr./edited by NN

Investika Real Estate Fund and its JV partner Bud Holdings have acquired five Polish logistics parks with a combined area of 212,500 sqm from Polish warehouse developer 7R for more than EUR 150 mln.

Investment & finance

Poland/Germany Hillwood secures €368m loan from Aareal Bank

schedule 19 December 2024
Opr./edited by ANZ

Hillwood’s EU Industrial Club III has announced the successful closure of a EUR 368.19 mln loan with Aareal Bank AG, a leading international provider of financing, banking, and payment solutions for the property sector.

Office & mixed-use development

Poland US bank takes 13 floors

schedule 19 December 2024
Opr./edited by ANZ

BNY, the global financial services provider, has moved its Polish office to the Centrum Południe building in Wrocław. The company has taken 20,000 sqm of space on 13 floors in the Skanska-owned facility.

Warehouse & industrial

Poland 7R Hub in Nowa Huta

schedule 19 December 2024
Opr./edited by ANZ

7R will develop a technology and production hub on the site of Kraków's ‘Ruszcza’ Logistics and Industrial Centre. The 230,000 sqm investment will be built as part of the ‘’Kraków - Nowa Huta of the Future‘’ project.

Latest in Coronavirus

schedule 30 March 2021

Vaccination centre provided by Globalworth

The Globalworth Foundation has provided the authorities in Bucharest with office space for a Covid vaccination centre.

schedule 24 June 2020

Employers in no rush to return to workplaces

Almost three quarters of employers plan to reintroduce their employees to their workplaces in phases rather than all at once, according to CBRE in its global survey on return-to-work strategies after the Covid-19 pandemic.

schedule 14 May 2020

Catella sees hope and chances for real estate after Covid-19

WORLD Real estate could actually benefit from the Covid-19 pandemic in the long run due its perception as a safe haven for investors, according to a report just published on the implications of the epidemic for the market by Swedish property consulting and fund management specialists Catella.

schedule 14 May 2020

Build Europe pushes post-coronavirus action plan

EUROPE Build Europe, an umbrella organisation for EU-based residential developers and constructors, has presented its recommendations for helping the sector in the EU emerge from the post-Covid19 economic crisis.

schedule 14 May 2020

Polish RE lends an even greater hand to fight the pandemic

POLAND More companies have joined # Property4Heroes - the commercial real estate market's initiative to support hospital staff and ambulance crews across Poland. Each day the initiative delivers 1,150 meals to physicians, nurses, paramedics and support personnel.

schedule 07 May 2020

Panattoni to provide PLN 0.5 bln worth of medical supplies

POLAND Warehouse developer Panattoni has allocated PLN 500,000 to buy medical supplies for three Polish hospitals.

schedule 14 April 2020

Landlords underwhelmed by emergency relief

CEE REGION Preliminary CEE investment volumes for Q1 2020 amounted to app. EUR 3.7 bln, despite the onset of Covid-19 in the region in early March – according to Colliers International’s latest research report.

schedule 14 April 2020

Toyota prepares to reopen Polish plants

EUROPE Toyota Motor Corporation has announced the partial resumption of operations in its European manufacturing plants, which have been closed due to the coronavirus epidemic.

schedule 08 April 2020

AFI Braşov now to open in the autumn

ROMANIA AFI Europe Romania has announced that it is rescheduling the opening of its AFI Braşov shopping and entertainment centre due to the pandemic.

schedule 08 April 2020

Aleja opening postponed

SLOVENIA The official opening of the Aleja shopping centre in Ljubljana’s Šiška district has been postponed.

schedule 07 April 2020

BPI opens virtual sales office

POLAND BPI Real Estate Polandis to introduce a virtual sales office for all of its Polish projects.

schedule 07 April 2020

Rent suspension in Sukcesja

POLAND Rent payments have been suspended for all tenants in the Sukcesja shopping centre in Łódź.

schedule 03 April 2020

Retailers join the fight

POLAND The Polish Trade and Distribution Organisation [POHiD], an association of retail chains, are to contribute PLN 15 mln to fight the coronavirus epidemic.

schedule 02 April 2020

Carrefour donates PLN 2 mln to fight pandemic

POLAND The Carrefour Foundation and Carrefour Polska are donating around PLN 2 mln to Polish hospitals for the fight against the coronavirus pandemic.

schedule 01 April 2020

Pay no rent in Sukcesja

POLAND The Sukcesja shopping centre owned by Fabryka Biznesu in Łódź has stopped collecting rents from its tenants.

schedule 31 March 2020

Government takes on board PRCH recommendations

POLAND The range of temporary trading restrictions in Polish retail buildings above 2,000 sqm imposed by the Ministry of Health has been clarified after consultations with the Polish Council of Shopping Centres [PRCH] and the Ministry of Development.

schedule 31 March 2020

Rent holiday for CCC and Ultro tenants

POLAND Dariusz Miłek, the president of footwear and accessories retailer CCC and Ultro Holding, the owner and manager of Cuprum Arena in Lubin and Korona in Kielce, has decided to cancel rent collections from tenants whose outlets have been forced to close during the Covid-19 emergency.

schedule 31 March 2020

Develia fears Covid-19 impact on business

POLAND Wrocław-based developer Develia (formerly LC Corp) has announced that the disruption caused by the pandemic could have a significant and potentially serious impact on the current operations of the company and its groups.

schedule 31 March 2020

Economies rebalance in wake of coronavirus

CEE REGION According to analysis by Colliers International all CEE economies this year are to decline or fall into recession as a result of the coronavirus.

schedule 30 March 2020

Movement and gatherings ban tightened further

POLAND The Polish government has introduced a new directive clarifying the restrictions on movement as part of its measures to combat the Covid-19 pandemic.

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Edition 12 (294) December 2024

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