Coffee with Craig Show – daily CRE news covering the CEE region in Panattoni Cafe with Publisher Craig Smith and Winston Norman, Editor & Chief of EuropaProperty.com.
108 Real Estate expands in Romania
Property consultancy 108 Real Estate has announced its expansion in Romania, where it will focus on the industrial segment. The Romanian branch of the company will be led by Victor Răchită as Managing Partner.
“The Romanian market offers numerous growth opportunities in terms of the supply of new, modern logistics and production spaces,” said Răchită
According to the agency, the annual net realized demand hovers around 1 million sqm, and vacancy rates dropped below 5% last year. However, prime rents have increased around major cities such as Bucharest, Cluj, Timișoara, the port of Constanța, and the city of Brașov.
Indotek Group completes retail project revamp in Târgu Mureș
Indotek Group has completed a large-scale revamping of its Plaza M retail project in Târgu Mureș. The company has invested €16 million in the renovation of the shopping complex. Following the investment, the mall’s leasable area was expanded to 55,000 sqm. Plaza M currently hosts 90 stores and has an occupancy rate of 92%.
”The comprehensive redevelopment of Plaza M reflects our consistent approach in Italy, Spain and Hungary, demonstrating our commitment to enhancing value through modernisation and redevelopment,” said Zsolt Kertai, Head of International Retail at Indotek.
Indotek’s Romanian portfolio has a total value of over €150 million.
CPIPG transfers six Czech assets to S Immo
CPIPG has announced the signing of a binding agreement for selling a portfolio totalling 6 properties located in the Czech Republic to S Immo. A subsidiary of CPIPG signed a contract with a subsidiary of S Immo for the sale of two office buildings, two shopping centres, a mixed-use property and a single-tenant retail building with a total lettable area of around 136,000 sqm. The transaction property value is €463 million and the annual rental income is around €28.3 million.
JTRE launches Downtown Yards project in Bratislava
JTRE has opened its residential project Downtown Yards in Bratislava for pre-sale and 20% of the stock is gone. 135 of the 650 residences at the gateway to Bratislava’s expanding downtown have already been sold in the pre-sale phase. The project’s second stage will include a 35-floor office building.
In the first phase alone, over 2,000 sqm of greenery will cover roofs to retain water and reduce solar reflection. The developer announced the aspiration to obtain A0 technical energy certification for the project’s air recuperation and rainwater collection.
After almost two years of cleansing this former brownfield site, preparatory work for construction piles and concreting of the base plate has commenced. The first stage completion is scheduled for 2026-2027.
