Coffee with Craig Show – daily CRE news covering the CEE region with Publisher Craig Smith and Winston Norman, Editor & Chief of EuropaProperty.com.
Real estate is at a ‘pivot point’ globally say ULI and PWC
Despite the monetary headwinds and continued economic uncertainty around the world, there is a strong belief that the global real estate industry is at a ‘pivot point’, with improving prospects ahead for renewed investment activity, according to the latest Emerging Trends in Real Estate® Global Outlook 2024 from PwC and the Urban Land Institute (ULI).
The industry snapshot indicates that with moderating inflation and interest rates potentially peaking, and greater clarity on monetary policy, there is a degree of optimism that the market is gradually reconciling with an elevated ‘higher for longer’ interest rate environment.
Lisette van Doorn, CEO of ULI Europe, comments, “This year’s report indicates that the market is beginning to get to grips with a new era of higher interest rates, and how this will need to impact pricing levels. Depending on the level of distress that might emerge, this may help the implementation of the ESG and, especially, the decarbonisation agenda, with potential buyers in a stronger negotiation position to incorporate the required capital expenditure.”
CTP completes 19,000 sqm letting to Yusen Logistics in Bucharest
CTP has agreed a five-year lease for 19,000 sqm of warehouse space at CTPark Bucharest in Romania to Yusen Logistics, a leading global logistics provider. Yusen Logistics was advised on by CBRE.
The warehouses leased by Yusen Logistics (Romania) will aundergo significant refurbishment through a substantial investment by CTP to refresh and upgrade the facility, bringing it up to the latest ESG standards by incorporating environmentally sustainable features such as LED lighting.
Andrei Bentea, Senior Business Developer, CTP, said: “Our focus on sustainable development aligns perfectly with Yusen Logistics’ commitment to ESG principles.”
Cosmin Rusu, Managing Director, Yusen Logistics, commented: “This lease agreement is an important strategic move that aligns with our commitment to delivering exceptional logistics solutions to our clients.”
Danubiu Enterprises to start retail investment near Bucharest
Danbuiu Enterprises will start the development of A1 Shopping Center, a new retail project near Bucharest that will have a value over €10 million. The project is slated for completion in Q3 2025 and will target wholesale and cash & carry retailers.
“We are convinced by the viability of our business model and we are ready to open negotiations with new players,” says Maria Iancu, Development Director of Danubiu Enterprises.
The retail project will have a leasable area of 24,000 sqm and facilities for tenants such as a food court and numerous parking spaces.
