Coffee with Craig Show – daily CRE news covering the CEE region, Wednesday, September 14, with Winston Norman, Editor and Chief of EuropaProperty.com.
Trei’s development volume grows by €100 million during H1 of 2022
Trei Real Estate was able to keep expanding its development activities during the first half of 2022 despite the challenging market conditions. The development pipeline grew to a volume of c.€1.8 billion by 30 June 2022.
Pepijn Morshuis, the CEO of Trei Real Estate, commented on the mid-year result: “The first half of 2022 has exposed many developers to extraordinary hardships. We, by contrast, managed to keep expanding our development activities. But the pace of our growth has clearly slowed when compared to the time before the war in Ukraine and the inflation surge.”
One of the company’s most important markets is Poland, where 2,200 residential units are in the development pipeline. Trei also develops retail real estate in Poland. Under the Vendo Park brand, Trei is building retail parks that currently have a development volume of c.€200 million. As of 30 June 2022, the Vendo Park portfolio of Trei added up to a total of 39 retail parks in Poland, the Czech Republic, and Slovakia.
Trei develops some of the Vendo Parks for its own portfolio, others for its joint-venture partner Patron. Within the framework of this joint venture, Trei is planning to develop roughly another twenty Vendo Parks with a combined value of €140 million.
TUF RE becomes Refield
The retail park development company TUF RE is reshaping its structure. It is now moving on toward a new chapter entitled: Refield. With the new structure in place, the company is responding to the rapid growth of its business. These modifications will make it possible to respond dynamically to demand from investors seeking to purchase retail parks.
In line with its intentions to increase the scale of its business by 2025, the company plans to build facilities with a total retail area of nearly 100,000 sqm.
“We have reached the point where we are implementing more than a dozen projects in parallel at various stages of growth. The pace of our development has challenged us to build an entity with much greater operational capabilities and financial potential than before. Refield is tailored to our customer’s requirements, the extended list of projects and the pace of their implementation,” explains Fabian Eryk Barbarowicz, co-founder of TUF RE and current CEO of Refield.
The Retail Village at MAPIC 2022 launched
MAPIC launched its Retail Village concept for MAPIC 2022. With constant flux and change in the retail industry, the purpose of the Retail Village at MAPIC is to not only put retail back on stage but also showcase all-new, agile retail initiatives. As part of its effort to build the right retail mix, MAPIC and its partners have curated these innovative retail concepts that are all connected by their shared values of sustainability, local sourcing, inclusion, and diversity.
Francesco Pupillo, Director of MAPIC commented: “Historically, MAPIC itself brings together retailers and property players looking to promote or negotiate acquisitions and leases – but this well-established relationship becomes much more complex as the most successful companies are not always those that find the best physical locations. The Retail Village at MAPIC will host innovative brands selected for the originality and agility of their concepts.”
Coninvest launched new development near Budapest
Hungarian-owned Coninvest Group is developing a new company headquarters next to the M7 motorway in the Budapest area. The project is expected to be handed over in the spring of 2023.
With a 30-year history, the Hungarian Coninvest group is active in kitchen technology, interior design and service. The company, currently based in Budaörs, has grown dynamically in recent years, therefore the company’s managers decided to invest in a self-developed property with modern, flexible spaces to meet all needs.
“A long-standing dream of mine is coming true with the creation of a modern headquarters of Western European standards, located alongside the motorway,” said Mirjam Kertész, Managing Director of Coninvest Group.