Coffee with Craig Show – daily CRE news covering the CEE region, Friday, May 6 with Winston Norman, Editor and Chief of EuropaProperty.com.
CE LAND AND NAI GLOBAL ESTABLISH A STRATEGIC PARTNERSHIP
The Hungarian CE LAND group of companies and the NAI Global of the US are forming a strategic alliance, and the two companies will operate jointly in the real estate market under the new brand name NAI CELand. With this move, CE LAND will significantly strengthen its international network, and client base and further expand its international operations through the NAI Global network. The decision is also a swift and decisive response to changes in the Hungarian market, as local customers clearly demand the involvement of global players and new business opportunities.
“This cooperation is an excellent opportunity for us to continue our operations in Hungary with an international background, leveraging our partner’s knowledge and network of contacts, showing our existing and prospective clients the investment and rental opportunities available in the Hungarian and foreign real estate market,” said Csaba Széll, founding partner and managing director of CE LAND.
The strategic partnership will enable NAI CELand to leverage significant business opportunities. The company aims to show foreign investors the potential of the Hungarian real estate market and to present the opportunities in the foreign real estate market to local investors.
PENTA SELLS THREE LARGE PROJECTS IN BRATISLAVA
Penta Real Estate has sold three real estate projects in Bratislava. The buyer is former Penta co-owner Jozef Oravkin, who left the group at the end of 2021 to set up his development and investment company
The transaction concerns the Bratislava projects Sky Park, as well as the office projects Digital Park I, Digital Park II and associated land parcels.
Penta has other big plans in Bratislava. “Our goal is to focus on projects of a long-term nature, to develop larger territories, to create quality places to live and to give these locations a new identity. In the west of Bratislava, we are building a completely new urban district Bory. At the beginning of the year, we also bought large plots of land by the Danube, where we are preparing a new project. We want to expand significantly in the coming years”, said Juraj Nevolník, Executive Director of Penta Real Estate Slovakia.
Penta’s real estate division currently has 26 projects in Slovakia and the Czech Republic.
PRIMARK TO OPEN STORE IN AFI COTROCENI
Fashion retailer Primark will open a new store in AFI Cotroceni, the shopping mall owned by AFI Europe in Bucharest. This will be Primark’s second store in Bucharest after the one planned in ParkLake Shopping Centre.
“Primark is a perfect addition to our mix of retail, entertainment and food attractions. This new entry sends a strong sign of trust in the local market potential,” said Sorin Scîntei, General Manager of AFI Cotroceni. “The country’s positive outlook regarding consumption throughout 2021 and 2022 is encouraging.”
P3 EXPANDS ITS LAND BANK IN POLAND
Warehouse developer P3 has acquired 29 hectares of land near Wrocław, in the Lower Silesia region, one of the most attractive warehouse locations in Poland. Logistics facilities will be built on the site comprising a total area of around 175,000 sqm.
Bartłomiej Hofman, Managing Director of P3 Logistic Parks in Poland, commented: “The Lower Silesian region is one of the most industrialised regions in Poland. We see here the dynamic development of the automotive, electrotechnical, and electromechanical sectors, as well as the plastics production and metal products industry.”
PANATTONI STARTS FIRST LOGISTICS HUB FOR HERMES
Panattoni has started the construction of the first Polish logistics centre for Hermes Fulfilment. The investment is being built in Iłowa in Western Poland. The 150,000 sqm project will be one of Hermes’ largest hubs in Europe and is to provide employment for around 1,900 people. The company is planning to open the centre by the end of 2023 following an investment of around €300 million.
The logistics centre in Iłowa will be used for the order picking operations of the e-commerce companies of the Otto Group and for value-added services (VAS). The majority of the orders processed will include clothing, textiles, jewellery, toys and small household appliances.
“We have chosen Iłowa because of the advantages of its location and the state of its infrastructure. However, this kind of investment could only be made because of the openness and cooperation from the local government,” commented Julia Hanebuth, the managing director of Hermes Fulfilment for the CEE Region.
”The huge and constantly growing e-commerce sector is driving the demand for large-scale fulfilment centres, and the western part of Poland is becoming an ideal hub,” explained Dorota Jagodzińska-Sasson, a managing director of Panattoni.
HELLA LEASES 49,000 SQM IN VGP PARK OLOMOUC
VGP, a European developer and owner of semi-industrial and logistics real estate, has signed two lease agreements with Hella, one of the largest employers in the automotive industry within the Czech Republic, specialising in the development and production of lighting technologies and electronics for such prestigious brands as Volkswagen, Audi and BMW.
Hella has leased in total more than 49,000 sqm of warehouse space in VGP Park Olomouc. The VGP complex covers nearly 48 hectares and offers 213,800 sqm of lettable space suitable for logistics or light manufacturing.