Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, November 7, with Winston Norman, Editor and Chief of EuropaProperty.com.
Construction starts on Akcent City project in Bucharest
Akcent Development has started the construction of the Akcent City project, consisting of 723 apartments in Bucharest. The complex will have an investment of €90 million.
The construction of Akcent City started a month ago, and all 5 buildings of the project will be developed in a single phase, the completion is October 2025. The building permit was issued according to the European energy efficiency and carbon reduction policies.
Laurențiu Afrasine, CEO of Akcent Development, commented: “Akcent Development has always believed that Bucharest has a very mature residential market with an ever-increasing need for better housing. Even though many analysts predicted the fall of the real estate market in general and a major decline of the prices related to new apartments in particular, we have seen that has not been the case throughout 2023 and it will not be in 2024 either.”
Coca-Cola HBC invests in Romania plastic-recycling plant
Coca-Cola HBC has invested €11 million in a plastic recycling plant producing rPET bottles. The company’s vision is to create an in-house circular economy for its packaging and to significantly reduce emissions across the value chain. It is also set to launch a deposit return scheme (DRS) to collect bottles and cans for further recycling as part of the group’s move towards an in-house circular economy model.
Once the DRS is in place, Romania will become the group’s first market to use 100 percent recycled bottles across the portfolio which can be returned and recycled in-house.
Zoran Bogdanovic, CEO of Coca-Cola HBC, said: “Romania is a great example of how we can work collaboratively with our stakeholders and the wider industry to create a circular economy for packaging.”
Cornerstone ceremony held for SmartZone Mikulov
Czech real estate developer Renfield is starting the development of SmartZone Mikulov. The project is being built just a few kilometres from the Austrian-Czech border and offers A-class halls for companies operating in logistics and production.
Felix Lanzerstorfer, Associate Industrial & Logistics at Modesta Real Estate, says, “Low vacancy rates and high pre-valuation rates on the Austrian industrial and logistics real estate market make it difficult for companies to find suitable and modern warehouse spaces in A-class quality. Developments close to the border, such as SmartZone Mikulov, are therefore an excellent opportunity to obtain such spaces on time.”
The SmartZone Mikulov will combine modern halls and comfortable A-class offices on a total property area of 16,000 sqm. The warehouse units can be rented starting from a size of 1,000 sqm and are expected to be available from the second quarter of 2024.
Rohlig Suus Logistics strengthens position in the Czech market
Rohlig SUUS Logistics is strengthening its position in the Czech market with a new investment. In response to the increasing demand for comprehensive logistics services in the Czech market, the company is expanding its warehouse space in Brno to 12,500 sqm, which marks an approximately 50 percent increase.
Artur Malarski a Board Member at Rohlig SUUS Logistics, says, “Our strategy is to become a major player in Central Eastern Europe. The development of our services in the Czech market is a natural progression in our roadmap.”
Jiri Chladek, Managing Director of Rohlig SUUS Logistics for the Czech and Slovak Republic, adds: “The Czech Republic’s position as an important logistics centre is growing steadily. The country is also Poland’s second key partner in terms of exports and goods turnover.”