Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, August 2, with Winston Norman, Editor and Chief of EuropaProperty.com.
Accor reports strong rebound in activity for H1 2022
Accor Group’s business rebounded significantly in H1 2022 after two years of major pandemic-related disruptions in the tourism and hospitality industry. In Q2 2022, activity recovered to levels close to, if not above, the 2019 levels in almost all of the company’s geographies.
This rebound reflects the recovery of the number of business and leisure domestic guests and border reopenings which accelerated the return of international travellers. It was accompanied by a sharp increase in prices, driven by demand and emphasized by inflation.
During first-half 2022, Accor opened 85 hotels, representing 11,700 rooms, i.e., net system growth of 1.8 percent in the last 12 months. In end-June 2022, the Group had a hotel portfolio of 777,945 rooms (5,300 hotels) and a pipeline of 212,000 rooms (1,215 hotels).
Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: “Once again this quarter, Accor reported very strong business growth, exceeding pre-crisis levels for the first time”.
Panattoni completes a new warehouse for Neonet
Panattoni has completed a central warehouse for Neonet, one of the largest electronic store chains in Poland. The retailer will initially operate on 44,000 sqm at Panattoni Park Łódź-Pabianice, with the option to expand its area by 20,000 sqm. The lease transaction was mediated by consultancy Colliers.
One of the most important functions of the new facility will be to support the e-commerce operations of the company as they continue to grow in line with global trends. In March 2021, the global online electronics market was valued at USD 343 billion, and by 2025 its value is expected to have grown to as much as USD 511 billion.
“The electronic goods market is growing rapidly, driven by the steady increase in the consumption of small and large electronic devices, including household appliances,” says Katarzyna Kujawiak, Development Director, Panattoni.
Panattoni Park Łódź-Pabianice will eventually comprise 123,000 sqm in four buildings, with the construction work on the second to start in Q4 2022.
Strabag to build first residential building of mixed-use Paltim project
Construction works for the first residential building of PALTIM, SPEEDWELL’s mixed-use project in Timisoara, are ready with STRABAG instructed as the General Contractor. The apartments in the first residential building of the project are estimated to be delivered to their owners in Q1 2024.
As a mixed-use ensemble, it will combine residential, office and retail components. On the residential side, the total number of apartments will be 236, built in two phases with the ones in the first phase estimated to be delivered to the homeowners in Q1 2024.
The development will also be a regeneration project as SPEEDWELL will refurbish two historical buildings that were part of the former hat factory on the site.
“We are eager to start the collaboration with STRABAG and see the PALTIM concept we have envisioned transform into reality,” said Jan Demeyere, Architect and Co-Founder at SPEEDWELL.
Square 7 properties starts new retail project in Romania
Square 7 Properties has started the construction of a new retail park in Romania, with a gross lettable area of 7,000 sqm. The project is developed in partnership with the Belgian investment fund Mitiska REIM, while the general contractor of the project is the Austrian company Strabag.
“Given the favourable economic context of recent years, we see new opportunities in cities with a population between 50,000-100,000 inhabitants, where there is a real need for modern shopping and suitable premises,” said Clemens Petschnikar, CEO of Square 7 Properties.
The retail project is planned for opening in Q1 2023 and is fully leased. The anchor tenant is grocery retailer Lidl.
Trei opens 30th Vendo Park in Poland
Trei Real Estate has opened its thirtieth Vendo Park retail park in Poland – in Otwock, on Warsaw’s south-eastern outskirts. Tenants of the new 9,000 sqm Vendo Park include such brands as Hebe, Media Expert, KiK, Martes Sport and Rossmann, as well as a number of brands new to Otwock: Netto, Maxi Zoo, Dealz, Sinsay, Action, Tedi, Smyk, and Deichmann.
“When selecting tenants, we always carefully analyse the local market and its needs. We aim to provide local residents with new brands or those that are still at a low level of saturation in a given area,” commented Jacek Wesołowski, the managing director of Trei Real Estate Poland
The Vendo Park in Otwock has been built as a joint investment between Trei and the investor Patron Capital.