Coffee with Craig Show – daily CRE news covering the CEE region, Friday, May 19, with Winston Norman, Editor and Chief of EuropaProperty.com.
Redport and Mobexpert announce €150 million investment in Bucharest residential project
Redport Capital and Mobexpert Group announced the completion of the concept design for the Infinity Nord project, a residential project located in Bucharest. This will be one of the largest urban regeneration projects in the capital, the total investment is estimated at €150 million.
The Infinity Nord project will have a total built area of 125,000 sqm. The four phases of the project will comprise a total of 1,250 apartments.
“Even since the beginning, we trusted the reconversion potential of the area and we replicated all its qualities in a mature, sustainable and far-reaching residential project, able to respond to the current and future generations of inhabitants,” said Dan Șucu, founder and shareholder of the Mobexpert Group.
The developers plan to start the construction in the autumn, with the entire complex to be delivered in four phases, with a completion date of 2030.
Nepi Rockcastle generates net operating income of €120 million in Q1 2023
NEPI Rockcastle generated a 27 percent rise in net operating income in the first quarter of 2023 to €120 million. The sharp uptick in performance was driven by higher base rents, tight management of operating costs and an €8.8 million contribution from the three acquisitions – Forum Gdansk Shopping Center, Copernicus Shopping Centre, and 50 percent of Ploiesti Shopping City in Romania.
Rudiger Dany, NEPI Rockcastle’s CEO, said “The exceptional performance NEPI Rockcastle achieved in the first quarter, reflects the continued momentum in the very positive retail market trends coming out of the pandemic. International retailers have duly taken note of the higher growth prospects on offer in CEE and are signing up for leases in our properties in increasing numbers as a result.”
Designer Outlet Gdańsk offers seedlings in exchange for old clothes
Designer Outlet Gdańsk’s latest event ‘Seedlings for Clothes’ gathered hundreds of visitors making it the best sales day of the year for the Polish centre. During the event, two bags of old clothes were collected in exchange for a thousand tree, flower, and herb seedlings. This is a result of a joint initiative of Designer Outlet Gdańsk, Polska Press Publishing Group, and Eco Textil Foundation.
Up to 1,000 plants were gifted in just five hours in exchange for two bags of old clothes, each weighing two kg. Thanks to the action carried out at Designer Outlet Gdańsk’s lighthouse, a rehabilitation bicycle will be installed at a 16-year-old ward that is operated by Gdańsk’s ‘Ja Też’ foundation.
The Management Recruitment Group opens Warsaw office
The Management Recruitment Group has opened a Warsaw office which will be the firm’s central and eastern European hub, connecting the region’s professional talent with local and international clients. Izabela Kawczynski, Managing Partner, will head up the Warsaw office. She has over 15 years of experience in recruitment, having worked with clients and candidates from across the globe.