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.
Koton to Open 8 Stores in Hungary Managed by Adventum
Turkish fashion brand Koton is set to open eight stores in Hungary, including three in Budapest, within Adventum-managed shopping centres. The total store space will exceed 6,000 sqm, with the largest store at Köki Shopping Center. Koton plans to open 130-150 new stores primarily abroad in the medium term. Adventum Group’s CEO, Kristóf Bárány, and Hungarian Ambassador to Türkiye, Viktor Matis, emphasized the strengthening of trade relations and investment opportunities between Hungary and Turkey.
Koton CEO Dr A. Bülent Sabuncu said, “In line with our globalization strategy, we are continuing our growth initiatives at full speed. We are moving towards our goal of opening 130 to 150 new stores, primarily abroad in the medium term and expanding the number of countries where our products are offered through online partnerships.”
Hungarian Ambassador to Türkiye Viktor Matis said, “We are pleased to strengthen the relations between two countries with strong historical and cultural ties through trade. Hungary is a very investment-friendly country and is open to new initiatives, therefore it is no surprise that over 500 Turkish companies operate in Hungary.”
New Yorker to Join BIG Andrychów Retail Park
The New Yorker brand will open a 1,300 sqm store in BIG Andrychów retail park in December 2024. BIG Poland is expanding the retail park by 1,500 sqm of GLA. BIG Poland CEO Eran Levy highlighted the expansion as a means to diversify and enhance the shopping experience for customers. BIG retail parks are successful in Lubin, Andrychów, and Łubna near Warsaw, with more developments underway.
XIOR Acquires PBSA Building in Kraków
XIOR has acquired the LivinnX PBSA building in Kraków from private investors, CA Ventures, and Golub & Co. The building features 290 units with 673 student beds and extensive amenities. Located near major educational institutions and key districts, it is poised to meet Poland’s rising demand for student housing. Savills Poland and European Operational Capital Markets emphasize the growing attractiveness and potential of the Polish PBSA market for investors.
Jacek Kałużny, Head of Operational Capital Markets, Savills Poland, says: “Demand for PBSA in Poland is on the rise due to an increasing number of international students and a growing expectation coming from the domestic sector for modern student housing.”
Marcus Roberts, Head of Savills European Operational Capital Markets, says: “Whilst Poland’s PBSA market has seen significant development in recent years it remains in its nascent stages making it an attractive market for investment that is primed for further growth.”
