Coffee with Craig Show – daily CRE news covering the CEE region, Thursday, March 2, with Winston Norman, Editor and Chief of EuropaProperty.com.
MDC² developing Gliwice Park in Silesia
Silesia is one of the most attractive regions of Poland for industrial investors. And it is here that MDC² is building its next warehouse park, MDC² Gliwice Park. The project is fully funded by Invesco.
The facility will consist of three buildings with a total area of over 57,000 sqm. The first tenants will move into the park in the third quarter of this year.
“Thanks to maintaining the high quality of the investment process and the achieved technological parameters, the facility in Gliwice will be characterized by significantly lower operating costs,” says Katarzyna Dudzik, Development Director at MDC².
Neinver announces brand sales of €1.35 billion across its portfolio
NEINVER one of the largest outlet operators in Europe, announced robust growth in 2022, with total brand sales reaching €1.35 billion across its entire portfolio, a 22 percent like-for-like increase compared with 2021 and close to 6 percent versus 2019. The centres operated by NEINVER in six European countries welcomed nearly 63 million visitors over the course of the year, up 16 percent compared to 2021.
Daniel Losantos, NEINVER’s CEO, commented: “These results are especially significant in such turbulent economic times as they signal a structural change in demand towards value shopping, highlighting the resilience of the outlet model, its success as a growth channel for our brand partners and its value proposition for customers, whose spending has become more targeted as they recognise the combination of top brands, reduced price and experience.”
Slight improvement in Poland’s housing market sentiment
Despite the lack of significant changes in credit availability, high inflation and rising prices, Poland’s residential property sales in the last quarter of 2022 bettered the previous quarter’s performance, says JLL. Sales growth was recorded in each of the six major markets with an average q-o-q of 29 percent.
“Some buyers may have concluded that the deceleration of new developments will be reflected in the low number or even absence of completed apartments in late 2024 and 2025. Assuming there is a marked recovery in demand during this period, this could have the effect of pushing prices even higher. For these buyers, this would mean a relatively good return on investment,” says Aleksandra Gawronska, Director of Residential Market Research at JLL.
Interdraw obtains building permit for Sungate Apartments in Bucharest
INTERDRAW, a real estate development company, has obtained the building permit for a residential project of 248 new apartments in Bucharest. The market value of the project is around €30 million.
“Sungate Apartments represents INTERDRAW’s first major investment in the Bucharest residential market,” said Ulisse Gheduzzi, founder of INTERDRAW.
The Sungate Apartments project is represented by Concept One, an integrated marketing, communication and sales services agency dedicated to the residential sector in Bucharest.
