News

RUSSIA Strabag has signed a EUR 300 mln contract with Russian metallurgical company Tulachermet to construct a steel mill and a rolling mill in Tula, app. 200 km south from Moscow.

Warehouse & industrial

Chemical giant completes first stage of Wrocław construction

POLAND The world’s largest chemical manufacturer BASF has started production in its new, 40,000 sqm catalytic converter plant in Środa Śląska near Wrocław after it finished the first stage of the EUR 150 mln development.

Warehouse & industrial

German warehousing expert sets up CEE plant

CZECH REPUBLIC Germany-based industrial truck manufacturer Kion Group plans on opening a 20,000 sqm plant which will house app. 200 employees in Pilzeň in the Czech Republic as warehousing burgeons across the CEE region.

Another Peakside building BREEAM-certified

POLAND Poznań Financial Centre, an office building owned by Peakside Polonia Management, has been granted a BREEAM In-Use certificate.

Russian LSR records 67 pct sales growth in H1

RUSSIA In the first half of the year, St Petersburg-based developer LSR Group has seen a 67 pct y-o-y increase in residential sales.

Retail & leisure

McDonald’s to open new restaurants in Ukraine

Office & mixed-use development

UKRAINE McDonald's plans on opening three to four new restaurants in Ukraine by the end of the year, which would increase the total number of its Ukrainian restaurants to 83 to 84.

Brown Brothers expands in Orange Office Park

POLAND Financial services company Brown Brothers Harriman has extended its office space lease in Orange Office Park in Kraków by 2,000 sqm, to 6,800 sqm.

Residential

Unibep to build Miasto Wola

POLAND Unibep has signed a PLN 22 mln contract for constructing the first stage of Miasto Wola, a residential development in Warsaw.

Warsaw office space sees healthy growth

18 July 2014

In the first half of the year, the total supply of modern office space in Warsaw stood at 4.3 mln sqm, growing by 190,300 as compared with Q4 2013, while in Q2 2014 alone, 105,900 sqm of the new space appeared on the market, informed the Warsaw Research Forum

Retail drives commercial property yields in Europe

18 July 2014

EUROPE/ CEE REGION In Q2 2014, European all-property yield rate has dropped by seven basis points, while the biggest changes occurred in the high street retail and shopping centre sectors, falling by 11 bps and 16 bps respectively, according to a survey by CBRE.

Hotels

Orco-owned Mamaison hotels change hands

18 July 2014

Office & mixed-use development

CEE REGION Prague-based hotelier CPI Hotels, a part of the Czech investment group CPI, has become an operator for ten Orco Property Group-owned hotels located across the Czech Republic, Slovakia, Poland, Hungary and Russia, nine of which have been forming a regional chain, Mamaison.

Łódź soldiers on with Brama Miasta

Architecture and urban planning

POLAND Hanna Zdanowska, the mayor of Łódź, has presented a new schedule for the development of the Brama Miasta office building.

Design for Małachowskiego Square in Warsaw chosen

POLAND A team comprising Grzegorz Stiasny, Jakub Wacławek, Jan Bagiński, Filip Dzimwasha, Adam Kluczek and Karolina Kuczyńska has won the second prize in the competition – and a recommendation for the implementation of the design – for the renovation of pl. Małachowskiego in Warsaw. A first prize has not been awarded.

Residential

Matexi to begin seventh Warsaw estate

POLAND The construction of Matexi’s seventh project in Warsaw is to start soon. The Staffa 9 residential building will be situated on a third of a hectare plot in Warsaw’s Bielany district, near the Słodowiec underground station.

European bonanza? Banks to offload EUR 584 bln to non-core real estate

EUROPE/ CEE REGION 46 European banks and asset management agencies have a gross exposure of EUR 584 bln to non-core real estate which is subject to disposal or work-out strategies, according to the latest research by Cushman & Wakefield.

Challenging H1 on Ukrainian retail market

UKRAINE During the first half of 2014, 45,000 sqm of retail space was added to the total stock in the Ukrainian capital, according to research by DTZ.

CEE real estate markets excel in transparency

CEE REGION Poland, Hungary and the Czech Republic have been ranked among the top 25 transparent real estate markets in the world, while Romania and Serbia have made some of the world's best improvements in this field, according to the latest Global Real Estate Transparency Index compiled every two years by JLL.

Prologis buys 94,200 sqm in two halls from Invesco RE