News

POLAND MLP Group has purchased 20 ha at ul. Ofiar Terroryzmu 11 września in Łódź where it will construct MLP Łódź.

Inditex shuts up shop

Office & mixed-use development

WORLD Inditex closed 3,785 stores in 39 markets on March 17th. Following official recommendation, all but 11 stores are open in China.

Katowice office space demand rises above supply

POLAND Over 10,000 sqm of office space was delivered in Katowice over 2019. Gross take-up came to 82,300 sqm, up by 115 pct on 2018

Hotels

One million tourism jobs lost per day

WORLD One million jobs are being lost every day in the travel and tourism sector due to the sweeping effect of the coronavirus pandemic, according to the World Travel & Tourism Council (WTTC).

Unimpressive February for hotels

Eurobuild CEE

EUROPE The hotel occupancy in European hotels fell in February by 1.8 pct to 63.6 pct, according to STR. Revenue per available room (RevPAR) decreased by 0.6 pct to EUR 64.68.

EUROPE International shopping centre investor Unibail-Rodamco-Westfield has informed that it is reducing its non-staff expenses, deferring non-essential capital expenditure and is to make use of any relevant facilities or arrangements provided by various national authorities to assist companies through the crisis.

GTC sees profits rise

Eurobuild CEE

EUROPE GTC has recorded a EUR 73 mln profit before tax.

Investment & finance

PLN 212 bln rescue plan for Poland

Rafał Ostrowski
journalist

POLAND The Polish government has announced an economic stimulus package of PLN 212 bln to assist businesses and their employees during the Covid-19 crisis.

Investment & finance

More profit for MLP

Rafał Ostrowski
journalist

POLAND MLP Group has recorded a net profit of PLN 129.4 mln for 2019, up 40 pct year on year.

Apsys reveals which stores to stay open

POLAND Apsys Polska has revealed details of how the shopping centres managed by the company will be able to operate during the emergency restrictions imposed on retail and services die to the Covid-19 pandemic.

Media Markt shuts up shop

POLAND Electronic goods supermarket chain Media Markt has closed all its 88 stores in Poland until further notice.

LPP on the impact of coronavirus

EUROPE Polish clothing group LPP has issued a statement on the potential impact of the spread of the Covid-19 virus on its operations, financial results and prospects.

Centerscape buys Gocław retail building

POLAND Centerscape has purchased a retail property at the junction of ul. Bora-Komorowskiego and ul. Gen. Fieldorfa in Warsaw’s Gocław district.

Agata closes stores

POLAND The Agata furniture supermarket chain closed all its stores on March 14th, when emergency restrictions on retail and services were imposed due to the Covid-19 pandemic.

Construction

Nova Stoczniova topped off

Opr./edited by AZ

POLAND The Nova Stoczniova estate in Wrocław’s Zakrzów district has reached its top construction height.

Ikea shuts down brick-and-mortar operations

Office & mixed-use development

POLAND All eleven Ikea stores in Poland were closed to customers on March 14th, when emergency restrictions on retail and services were imposed due to the Covid-19 pandemic.

Atenor to replace UBC I

POLAND Atenor subsidiary, Haverhill Investment, has applied for a permit to demolish University Business Center building 1 (UBC I), which is to be replaced by the development of a modern 24,000 sqm office block.

Human resources

Oliver Schumy steps down

Eurobuild CEE

EUROPE Oliver Schumy, the CEO of Immofinanz, is stepping down from the management board.

Human resources

Papalekas steps down

POLAND/ROMANIA Ioannis Papalekas, the founder of Globalworth, is stepping down from the board of directors of Globalworth with immediate effect but will remain as CEO.

Warehouse & industrial

7R invests again in Łódź