Coffee with Craig Show – daily CRE news covering the CEE region, Wednesday, August 31, with Winston Norman, Editor and Chief of EuropaProperty.com.
Investors continue to have strong interest in Poland
AXI IMMO experts have analyzed the situation of individual sectors in the investment market in the first half of 2022 in Poland. The total volume of investment transactions in H1 2022 amounted to almost €2.9 billion, which was more than 40 percent more than in the same period last year. The high value of investments demonstrates investors’ continued strong interest in Polish investment products in all major categories, despite the new geopolitical situation and the war in Ukraine.
At the end of June 2022, a high volume of transactions was registered in the investment market, resulting from several significant acquisitions launched in 2021. The result obtained was 40 percent higher than last year and thus similar to 2020. By sector, the most invested in offices at 44 percent, followed by shopping centres at 28 percent and warehouses at 24 percent.
“The biggest unknown in Q2 2022, which influenced the attitude of a large part of investors, was the situation in Ukraine. We see that sentiment towards our region is now returning. Still, some investors from Asia and the US are assessing the proximity of the conflict as a greater risk and are adopting a wait-and-see basis for the time being. On the other hand, those from Europe and the CEE region are already back in the market,” comments Grzegorz Chmielak, Head of Valuation and Capital Markets, AXI IMMO.
Ozimska Park set for 2023 opening
Scallier has introduced a new retail project to the Opole market – Ozimska Park. The new facility will have 18,000 sqm of leasable area (GLA). Scallier was jointly responsible for the project acquisition and the preparation of the commercialization concept. Currently, it supervises leasing and manages the facility. The design stage and preparations for the redevelopment of the complex are underway. The opening of Ozimska Park is planned for August 2023.
“Ozimska Park will be built in a traditionally commercial location. There will be numerous shops and service points here, which the inhabitants of Opole have surely got used to and appreciate, as well as we are planning to introduce shops and service points, which will additionally make this location very popular among consumers even more attractive,” commented Bartosz Nowak, Managing Partner at Scallier responsible for the company’s development in the Polish market.
Zara opens flagship store at EUROPARK Salzburg
Following a refurbishment period of several months, the popular fashion label Zara is opening its most modern flagship store in Austria, in EUROPARK Salzburg, owned by SES Spar European Shopping Centers.
The new expanded Zara store now covers an area of more than 3,000 sqm and showcases the latest women’s, men’s, and children’s collections, as well as a completely new athletic department. The new, innovation-oriented Zara store is equipped with the latest technological features, creating a holistic shopping experience and combining brick-and-mortar retail and digital experiences in a single location.
“We are thrilled about the expansion of Zara’s offering at EUROPARK Salzburg – covering twice the space. It makes a strong statement for brick-and-mortar retail,” says Christoph Andexlinger, COO of SES Spar European Shopping Centers.