Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, January 3 with Winston Norman, Editor and Chief of EuropaProperty.com.
Czech UDI Group to build 2,300 flats in Belgrade
UDI Group, an international development group with Czech roots, is planning to build the Duga project in Belgrade with 2,320 apartments and 40,000 sqm of offices on the site of a former factory for almost €392 million. Construction is expected to start this year.
UDI Group reported. “Approximately 80 percent of the project will thus consist of apartments, which will be built on a huge brownfield site with a total of 2,320 units. About 40,000 sqm will be used for offices, and we are also considering a hotel,” explained Marcela Fialkova, UDI Group’s strategy director.
Forty Management eyes opportunities in Poland and Czech
Romanian developer Forty Management is looking to buy land in Poland and the Czech Republic for new mixed-use project investments under the Central District Lagoon City brand. The company owns the Crystal Lagoons license which allows the development and operation of large man-made lagoons for Bucharest, Budapest, Warsaw and Prague.
“Our priority is to implement the scalable project Central District Lagoon City in Bucharest, following a €120 million investment,” said Lucian Azoiței, CEO of Forty Management.
Central District Lagoon City includes a 5 stars hotel operated by a 5-star international hotel, with 343 rooms, 401 apartments to rent, 9.200 sqm of commercial spaces, 8,500 sqm of offices, and a 10,000 sqm lagoon with 3,200 sqm white sand beach. In Bucharest, the mixed-use project will be developed on a land plot of 40,000 sqm.
Baltic Horizon sells share in parking house of Europa Shopping Centre to UAB
The owner of Europa Shopping Centre in Vilnius, BH Europa UAB, an SPV of Baltic Horizon has closed a sale and purchase agreement with UAB “Prime Location Property Fund” to sell its share in the parking house of Europa Shopping Centre which was previously co-owned with the purchaser.
The agreement ensures sufficient parking spaces required for the operation of the shopping centre as well as the possibility to provide free parking for clients. Baltic Horizon Fund remains the sole owner of the Europa Shopping Centre.
“Under sole ownership, our neighbour will complete renovation of the entire parking house for the use of both the Europa Shopping Centre and office building,” said Tarmo Karotam, fund manager of Baltic Horizon.
Co-Living summit to launch at MIPIM 2023
A major new international event on the rising trend of co-living will take place for the first time at MIPIM 2023. Launched in partnership with Co-Liv, a leading global association of co-living professionals, the MIPIM Co-Liv Summit will be held on Monday 13th March.
Nicolas Kozubek, MIPIM Director, said: “Co-living has the potential to address global issues around the shortage in housing many cities face by providing new, affordable lifestyle options for residents whilst providing dense, large-scale forms of living.
Gui Perdrix, Co-Liv Director, said: “Major developers in European cities, coming from the student housing and hotel industries alike, have incorporated co-living developments in their roadmaps, and mainstream apartment platforms are incorporating co-living searches.”