Coffee with Craig Show – daily CRE news covering the CEE region – Tuesday, March 22 with Winston Norman Editor and Chief of EuropaProperty.com – Celebrating over 300 shows!!! Become a partner and reach over – 8,000 viewers weekly – 14,000 viewers on the Executive interviews.
STRONG Q1 EXPECTED FOR REAL ESTATE INVESTMENT DESPITE GEOPOLITICAL EVENTS
Preliminary figures compiled by Savills suggest that the total real estate investment volume in Europe for the first quarter of the year will reach approximately €70 billion, a 19.5 percent increase year on year. Despite geopolitical events, the real estate advisor expects solid European investment activity for the remainder of the year, notably fuelled by large portfolio and entity deals.
Savills anticipates total European real estate investment volumes for 2022 to reach between €300 billion and €330 billion, which would be 5-10 percent above the five-year average, as long as the Russia/Ukraine crisis doesn’t last too long and doesn’t have a long-term impact on the European economy.
Lydia Brissy, Director, European Research at Savills, says: “Given the current context, we expect most of the investment activity this year will focus on Western Europe and particularly, the core countries of UK, Germany and France.”
Tomasz Buras, CEO, of Savills Poland, says: “The hostilities in Ukraine are having a stronger impact on the Polish real estate market than on Western European markets. Developers are facing severe disruptions to supplies of building materials and the reduced availability of construction workers.”
James Burke, Director, Regional Investment Advisory EMEA at Savills, says: “For perhaps the first time since the Covid-19 pandemic, prime offices are looking like an increasingly attractive defensive investment as they are relatively protected from higher inflation due to the indexation of rents across core European cities. We forecast a stable outlook on pricing throughout 2022.”
IMMOFINANZ PRESENTS NEW BRAND ON TOP LIVING AT MIPIM 2022
IMMOFINANZ presented its new residential brand On Top Living at MIPIM. Under this brand, IMMOFINANZ will provide its tenants with up to 12,000 smart and sustainable apartments at affordable prices in the medium term. This complements the company’s portfolio with another strong brand, after its successes with the flexible offices (myhive), with the retail parks STOP SHOP, and with the shopping centres of VIVO!
The newly presented brand of On Top Living involves the overbuilding of single-storey STOP SHOP retail parks to create low-cost and environmentally friendly living spaces. “On Top Living symbolises smart living. Our future tenants will benefit from flexible space concepts, a comfortable living climate, the highest degrees of energy efficiency, alternative mobility concepts, and much more – and everything at affordable rents and in immediate proximity to local suppliers and leisure time facilities,” explains Dietmar Reindl, member of the Executive Board of IMMOFINANZ.
Stefan Schönauer, member of the Executive Board of IMMOFINANZ: “On Top Living is another excellent example of how we implement our sustainability principles in concrete real estate projects. In total, we will invest about €1 billion in the expansion of On Top Living over the coming five to seven years across our countries and thus add new earnings sources.”
VGP HANDS OVER LOGISTICS HALL IN ČESKÉ BUDĚJOVICE TO DACHSER
VGP, the European developer and owner of semi-industrial and logistics real estate, has completed the construction of Hall C at VGP Park České Budějovice located in the Světlík commercial zone. The building was tailor-made for DACHSER Czech Republic, a specialist in providing freight forwarding and warehousing services. A ceremony handing over the new logistics and office premises covering a total of 7,042 sqm has just taken place. The logistics centre will begin operations in the coming days.
“The new premises will enable faster and more convenient handling of shipments than ever before even while emphasising energy efficiency and sustainability,” comments David Plzák, VGP Country Manager for the Czech Republic
Jan Polter, Sales Director of DACHSER Czech Republic, said, “We consider the park’s location to be ideal for achieving our goals in the field of long-distance transport as well as for urban logistics. Last but not least, we appreciate that the VGP Park has been outfitted with a view to future technologies.”
On approximately 37 hectares of land, a complex with 7 halls and more than 126,000 sqm of lettable space suitable for logistics or light manufacturing is gradually being built.
GTC TO FURTHER DEVELOP MATRIX OFFICE PARK IN ZAGREB
GTC is set to further develop the Matrix Office Park in Zagreb by adding another building to the complex. The third building, Matrix C, which received a building permit earlier this year, will be the newest extension to the business centre. The shell & core of the building is scheduled for completion in Q2 2023 ready for the fitting out of tenant areas.
Following the success of the first two buildings in the Matrix Office Park, which are both at 95% leased, GTC has decided to further expand its presence on the Zagreb market by developing Building C.
Buildings A and B have already been awarded LEED Platinum certificates, expanding GTC’s portfolio of green projects. The new building is set to become another sustainable business hub for Croatian and international residents. Upon completion, Matrix C will be DGNB Gold certified.
“The new building, in a modern business complex, like Matrix Office Park, is a great opportunity for GTC to further expand and lead the way in the development of the real estate market in Zagreb and the market itself to grow in new directions,” says Arn Willems, GTC Managing Director Croatia.