Coffee with Craig Show – daily CRE news covering the CEE region, Monday, February 13, with Winston Norman, Editor and Chief of EuropaProperty.com.
Livos Group buys 63 apartments in Warsaw high-rise building
Another German investor is entering the Polish property market. The Livos Group of companies is starting its expansion in Poland with Warsaw. The investor has purchased 63 residential units in the Złota 44 high-rise building in the very centre of the Polish capital. The seller was Catella Residential Investment Management, which has thus withdrawn from this country.
Złota 44 is an almost 192-metre-high building designed by Daniel Libeskind, with a total of 52 floors and 287 residential units. The skyscraper, centrally located in Warsaw opposite the Palace of Culture and Science, was completed in 2016.
Skanska opens first phase of H2Offices complex in Budapest
Skanska has opened the 27,000 sqm first phase of the H2Offices complex on Budapest’s Váci Road office corridor. Construction of the second phase may start in H2 2023, with the third and final to be handed over in 2026 or 2027.
Five tenants – among them a serviced office provider – already have secured space in the facility. Skanska expects to increase occupancy to 60 percent by autumn which facilitates to start of the second phase.
VGP Park Ústí nad Labem City secures new tenant
VGP has acquired a new tenant for its newly prepared technology park in Ústí nad Labem, situated in the northern part of the Czech Republic at a 90-kilometre distance from Prague. The new tenant in Hall A is Bosal, a company from the automotive industry.
The new hall will be built to green certification level BREEAM Very Good standards. VGP expects to complete it by the end of this year, with the handover taking place in January 2024.
“Bosal is, like VGP, a family-owned business. A business that has operated for a century and serves as a Tier 1 supplier to the major automakers globally,” comments David Plzák, VGP Country Manager for the Czech Republic.
Fashion House to expand outlet in eastern Bucharest
Fashion House Group will start the construction of the second phase of Fashion House Outlet Centre Pallady, which is located in the eastern part of Bucharest. The group, which also owns an outlet centre in western Bucharest, has recorded an increase in sales in both projects during 2022.
The company will invest around €45 million in the expansion of its Pallady outlet centre. This is the seventh centre of this kind developed by Liebrecht & wood and the Fashion House Group across Europe.
Brendon O’Reilly, Managing Director of Fashion House Group, pointed out that outlet sales were boosted by the current economic context and changes in the behaviour of shoppers.
