Coffee with Craig Show – daily CRE news covering the CEE region, Monday, March 27, with Winston Norman, Editor and Chief of EuropaProperty.com.
Hines creates new global business unit integrating ESG and venture investing
Hines has announced the formation of a new global business unit designed to address the disruptive changes in the built environment called EXP by Hines. EXP represents Hines’ intention to explore and address the shifts underway in real estate, experiment with innovative solutions around flexibility, sustainability and other areas that add value for clients, and expedite ESG outcomes for a more sustainable, livable world.
CEO of EXP, Doug Holte, said, “EXP by Hines is an engine of growth using the most innovative ideas in capital, culture, and environmental stewardship to connect every stakeholder in the built environment and create healthy, activated communities.”
Global Head of ESG Peter Epping leads the platform designed to create long-term value by enabling people to thrive in spaces that benefit them and their communities. The team is currently focused on expediting the reduction of carbon in the built world and expanding holistic ESG strategies.
Prices of new homes in Romania to fall this year
Prices of new homes in Romania will fall this year due to lower demand as loan conditions have tightened, but more people will be looking to rent instead and this is leading to an increase in prices this year, according to an analysis by JLL Romania.
“Developments in the mortgage market have a major impact on the residential market. Most likely, house prices will continue to fall slightly over the next half year in this context. However, we expect prices to gradually return to previous levels over the medium term as the credit market rebalances,” said Andreea Hamza, Senior Director Living at JLL Romania.
The agency’s experts suggested that Romania’s rent movements are pointing to the development of the PRS niche.
2022 in the Polish warehouse market was expensive, and 2023 may be even more expensive
The Polish warehousing market remains in good condition for years, according to an AXI IMMO report on the Polish Warehouse Sector. Last year more than 4.4 million sqm of new space was completed, corresponding with strong activity by tenants, who leased nearly 6.7 million sqm. The event of the year was undoubtedly the rising rental rates, which increased on average by 15-20 percent compared to previous years.
Grzegorz Chmielak, Head of Valuation and Capital Markets, AXI IMMO, says: “In 2022, despite the challenges of high inflation, the energy crisis or Russia’s renewed aggression in Ukraine, in Poland, we recorded more than 120 transactions in the investment market.”
Anna Głowacz, Head of Industrial and Logistics, AXI IMMO, comments: “In 2022, we observed changes in the structure of demand. Logistics and retail chains will remain strong tenants, with a noticeable increase in interest in modern warehouse space by manufacturing clients.”
Renata Osiecka, Managing Partner, AXI IMMO, concludes: “The foundations of the warehouse sector will remain stable, with an expectation of reduced activity on the part of both tenants and developers. 2023 will be a time of review for the entire market.”
On 30th March, Promenada shopping centre in Warsaw will reopen to the public
The renovation works at the Promenada shopping centre are nearly finished! On 30th March this state-of-the-art shopping centre in Warsaw will reopen to customers. The centre boasts a modern luxurious design style, with the newest store concepts and an abundant offering to the local community.
All these features strengthen the dominant position of our centre in the city, says Anna Tana, Leasing Director at Atrium Poland (G City Europe).
“In a matter of days, the most modern multifunctional shopping centre with an area of 63,000 sqm will be opened with an enriched offer of innovative retail concepts and meticulously selected brands. Promenada can boldly claim to be the most ambitious retail project in Warsaw. It is not surprising that even before the start of construction, 80 percent of retail space marked for renovation was leased out,” says Anna Tana, Leasing Director at Atrium Poland.