Coffee with Craig Show – daily CRE news covering the CEE region, Friday, March 3, with Winston Norman, Editor and Chief of EuropaProperty.com.
The PRS sector in Poland grew by 40 percent in 2022
According to the latest PRS (private rented sector) market report, compiled by Knight Frank and law firm Dentons, there were more than 10,300 flats for rent in the PRS market at the end of 2022, a 40 percent increase over the year. Given the country’s shortfall of flats, currently estimated at 800,000 units, the PRS market is expected to grow further, with its potential recognised by private equity investors from Israel, Scandinavia, Asia and the United States.
“Investors recognise the uninvested potential of the PRS sector, as well as the significant housing deficit in Poland – which is put at around 800,000 units,” Krzysztof Cipiur, Managing Partner, Head of Capital Markets at Knight Frank, commented.
“This year, we are expecting greater dynamism in this market, an increase in the number of transactions, and the emergence of new players willing to invest their capital in this new asset class,” concludes Piotr Staniszewski, a partner in the Real Estate Team at Dentons.
Logicor develops logistic operations for Royal Canin near Krakow
Logicor has completed a logistics site for Royal Canin, a recognized leader in pet health nutrition. This new development will support the growth of Royal Canin across Europe and Japan. Logistics services in the new warehouse are performed by FM Logistic.
Agnieszka Sadowska, CNE Supply Chain Director at Royal Canin, said: “This is one of the biggest network transformations in recent years for Royal Canin in Poland.”
Michał Ptaszyński, Country Manager Poland at Logicor, said: “This cooperation embodies our strategy of a long-term partnership to deliver flexible and highly certified space for our client’s business.”
Anna Galas, Senior Business Development Director at FM Logistic, commented: “We provide in-house logistics services handling the factory warehouse of finished products and distribution to the Polish, Czech and Slovak markets.”
The newly completed development includes 25,900 sqm of flexible warehouse area. Project management was handled by Logicor and Arcadis. The general contractor was Atlas Ward Polska.
Scallier delivers two more retail parks in Romania
The retail parks in Vaslui (9,975 sqm GLA) and in Mosnita (8,500 sqm GLA) are the fifth and sixth schemes to be delivered by Scallier, a Polish development and investor company, to the Romanian market. Both facilities are already mostly leased, and advanced negotiations are underway for the remaining vacant space.
“Following the high demand for quality retail space, we are preparing further projects in Romania, which we will announce soon,” adds Wojciech Jurga, Managing Partner at Scallier, responsible for the company’s development in Romania.
“Consumer demand for quality, convenient shopping is growing,” emphasizes Adrian Aleman, Development Director at Scallier.
REICO sells office building in Bratislava
REICO ČS Nemovitostní fund (RČSN) has sold the Office Box office building in Bratislava, one of its longest-held properties. The building was purchased by MOVYS Invest, a Slovak company which focuses primarily on providing services in the telecommunications sector.
“The sale of the Office Box building is another visible step in the qualitative renewal of our real estate portfolio and an improvement of our liquidity position for further potential purchases,” says Tomas Jandik, Chairman of the Board of REICO IS ČS.