Join Craig Smith and Winston Norman on the Coffee with Craig Show for your daily dose of CRE news in the CEE region, brought to you by EuropaProperty.com.
Catinvest invests €36 million in ElectroPutere Parc extension
French real estate group Catinvest is investing €36 million in the extension of ElectroPutere Parc, which has reached over 100,000 sqm of retail space. The project also features 24,000 sqm of offices and a premium apart-hotel as part of the facilities mix.
This development will attract new international brands, including Primark, which will open its first store in Craiova in 2026, covering an area of about 4,500 sqm.
“Since our acquisition in 2016, we have multiplied by four the size of ElectroPutere Parc. We are convinced that this thriving location still has huge potential for further development,” said Bertrand Catteau, CEO of Catinvest Group.
Romanians spent €36 billion in retail in 2023; supermarkets lead with over 60 percent
Romanians spent €36 billion in large retail chains, an amount 11 percent higher compared with 2022, according to the Romania Retail Snapshot 2024 by Cushman & Wakefield Echinox. The turnover increases reported by the large retailers were sustained both through expansions and organically, due to a growth in sales in physical stores and to the online expansions performed by a series of operators.
Vlad Săftoiu, Head of Research, Cushman & Wakefield Echinox, commented: “The retail market performed very well throughout last year, even though 2023 was the second consecutive year with a double-digit inflation rate. Therefore, all the segments from our snapshot recorded sales increases compared with 2022, most of them above inflation.”
Continental expanding production at Sibiu R&D centre
Manufacturer Continental is celebrating its 20th anniversary in Sibiu this year. To mark the event, the company announced the start of work on the new production module – with a planned investment of over €45 million. Part of the investment will be covered by state funds allocated to stimulate investment with a major impact on the Romanian economy.
Module 7 will have an area of over 15,000 sqm. Completion of the new production module is planned for the end of next year. Start of production in spring 2026. In the new module of the R&D centre, engineers, technicians and operators will work together on the production of intelligent autonomous driving systems, connectivity systems and other mobility solutions for key automotive customers around the world, all in a modern factory with state-of-the-art technologies time and smart processes of industry 4.0.
CA Immo starts refurbishment of office building in Prague
Danube House, an office building in Riverside Karlin, anchored by international occupiers from tech, start-up, legal, and banking industries, is now undergoing a comprehensive refurbishment.
The New Danube House will offer 22,500 sqm of leasable area, predominantly for offices. Sustainable design includes energy-efficient and renewable heating and cooling sources, advanced waste recycling, and targeting LEED Platinum certification and Energy Performance Certificate (EPC) B. Danube House will be 100 percent powered by renewable electricity.
CA Immo plans to start construction works in Q4 2024. The completion of the New Danube House is expected at the beginning of 2026. Full operations will commence in Q1 2026.
