Coffee with Craig Show – daily CRE news covering the CEE region, Thursday, September 21, with Winston Norman, Editor and Chief of EuropaProperty.com.
Iulius prepares €810 million investment in Constanța
Romanian developer Iulius has signed a partnership with Oil Terminal, a public company owned by the state, for the urban regeneration of a 38-hectare land plot in Constanța. Iulius plans to invest more than €810 million in a large mixed-use scheme.
“We strongly believe in the potential of Constanța and we have the necessary expertise and resources to create a project that will help the port city capitalize on all its strengths and become one of the economically strong regional centres,” said Iulian Dascălu, President of Iulius.
Skanska sells the first phase of H2Offices in Budapest to ERSTE Open-Ended Real Estate Investment Fund
Skanska has sold the first phase of its H2Offices complex in Budapest to ERSTE Open-Ended Real Estate Investment Fund.
“This transaction stands as a testimony to the interest in high-quality and sustainable real estate products, indicating a positive shift in demand on the investment market,” said Katarzyna Zawodna-Bijoch, President & CEO at Skanska commercial development business unit in CEE.
“This acquisition represents a significant stride towards attaining our ESG objectives, and supports our future endeavours in this regard” explained Balázs Pázmány, Chairman of the Board at ERSTE.
Warsaw joins top 5 European cities for flex office take-up
According to the latest research from Savills, and its flexible office specialist Workthere, London City remains the most active flexible office market in Europe with the sector accounting for 13% of all office take-up in H1 2023. This is followed by Prague (8%), Amsterdam (6%), Madrid (5%) and Warsaw (4%).
Mike Barnes, Associate Director, Savills European Research, comments: “Given employer hiring sentiment has shown signs of weakening over the last three to six months, flex contract occupancy growth will be supported by companies looking for flexible terms to ensure they optimise the right level of workspace.”
Look Up on Skyliner’s top floors opens
A new event and conference space in Warsaw has just opened. Owned by Villa Foksal, Look Up occupies the top two floors of the Skyliner office building in Warsaw, the flagship investment of the Karimpol Group. The MIXD studio from Wrocław is responsible for the design of this nearly 830 sqm interior.
“This special venue has been created to meet the most demanding expectations of event organisers and participants,” said Paweł Chmielewski, owner of Villa Foksal and Look Up.
“From the very beginning, we wanted to provide an accessible space that could be used not only by our tenants but also by outside companies and visitors,” said Harald Jeschek, Managing Partner at Karimpol Polska.
Panattoni completes a large BTS near Gliwice
Panattoni has developed a BTS centre for the Tenneco Group in Gliwice. The European Engineering Centre is to serve the company as a research and development centre for new technologies.
“The global automotive industry is looking to Poland, and the hi-tech building developed for the Monroe brand in Gliwice is to become a key centre in Tenneco’s portfolio alongside its other centres in Europe, China, India and the US”, says Marek Foryński, the BTS Managing Director at Panattoni.
“Over 100 BTS centres have been developed by the BTS department of Panattoni in Central and Eastern Europe, and this vast experience proved crucial with such a demanding development”, says Michał Chodecki, the BTS Development Director at Panattoni.