Coffee with Craig Show daily CRE news covering the CEE region, with Craig Smith, Publisher and Founder of EuropaProperty.com and Winston Norman, Editor and Chief of EuropaProperty.com.
Releven secures construction permit for €220 million Vilnius project
Vilnius-based developer Releven has announced the receipt of a construction permit for the Horizontai project. With an estimated cost of €220 million, the project will consist of two residential high-rises featuring approximately 300 apartments, along with three office buildings housing administrative, service, and retail spaces in the CDB of Vilnius.
“This development will create a self-sufficient neighbourhood with a diverse range of services and retail outlets, providing residents with everything they need within a 15-minute reach,” said Guido Wolf, Director of Sustainability and Innovation at Releven.
Construction of Horizontai is slated to commence in 2024, following a contractor selection process through a tender. The project will unfold in multiple phases, with the first phase, the largest in volume, expected to be completed in early 2027.
Penta moves ahead with €200 million project in Bratislava
Plots with a total area of 4.5 ha in Bratislava were acquired by Penta Real Estate for the construction of a new mixed-use development. The project will consist of five residential buildings and an office building. The complex will offer around 1,000 apartments, 30,000 sqm for various amenities and over 2,070 underground parking spaces. The project will also have its square with retail operations.
Penta plans to construct in stages, launching the first at the end of 2025. New apartments will be available in the summer of 2028 earliest. Completion is expected in 2035. The Vajnorská Mixed-use Complex will cost Penta around €200 million.
CTP completes 65,000 sqm warehouse for LPP Logistics in CTPark Bucharest West
CTP has delivered the first distribution centre of LPP Logistics in Romania spanning 65,000 sqm in CTPark Bucharest West. The construction of the warehouse started in January 2023 and was completed in less than one year. CTP said the designed automation solutions will enable LPP Logistics to operate 450 stores at the same time and ship up to 6 million pieces of assortment per week to the Romanian, Bulgarian, Hungarian, Croatian, Macedonian, Serbian or Greek markets.
“At the end of the fourth quarter of the financial year 2023/24, the portfolio of LPP brands in this region will already include more than 500 stores, while the company intends to continue its expansion, among others in Romania or Greece, in the coming years,” said Sebastian Soltys, President of LPP Logistics.
Savills names new MD in Poland
Savills has promoted Kamil Kowa to Managing Director of Savills Poland. In his new role, Kowa will work closely with Stuart Jordan, CEO of Central and Eastern Europe (CEE) at Savills to help clients operating in or looking to enter the Polish real estate market.
Kamil has 20 years of experience in real estate. James Sparrow, CEO of UK and EMEA at Savills, says: “Kamil’s background in consulting and his proven track record in both transactional and non-transactional instructions will benefit our clients in Poland and help to grow our footprint in this important European market.”