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.
Scandic Hotels Explores Expansion in Europe
Scandic Hotels plans to expand across Europe, announcing growth for its existing portfolio in Scandinavia and beyond. CEO Jens Mathiesen highlights the company’s successful expansion outside the Nordics and its intent to broaden its geographical reach. Scandic currently has a pipeline of 2,500 rooms across nine hotels, including five properties under its new budget brand, Scandic Go.
“It seems that our brand has done well outside the Nordics, and that means that more and more owners are reaching out,” said CEO Jens Mathiesen. “We are maintaining a high pace to expand our pipeline, and we are also investing to create an even more competitive offering.”
While Scandic has strong coverage in the four nations of Scandinavia, it has already grown its portfolio south. In Germany, the group has hotels in key cities including Berlin, Frankfurt, Hamburg, Munich and Nuremberg. The brand has also established a presence in Poland, with hotels open in Gdansk and Wroclaw.
AFI Europe and Echo Investment Secure Financing for Warsaw’s Office House
AFI Europe and Echo Investment have secured a construction and investment loan of €103.4 million from a consortium of Santander Bank Polska and Bank Pekao for the Office House project in central Warsaw. The nine-story building, part of the Towarowa 22 development, will offer 31,000 sqm of office, retail, and service space. The Office House, designed for sustainability and well-being, is slated for completion in spring 2025 and will seek BREEAM and WELL certifications.
“As AFI Europe, we are committed to projects that stand out in terms of ESG solutions. These are the types of developments that currently enjoy the greatest trust from banks. Therefore, the loan received is the best confirmation of the quality of Office House and the entire concept of Towarowa 22,” comments Grzegorz Jakubowski, CFO of AFI Europe Poland.
New Shopping Park in Nowa Ruda by PKB Inwest Budowa
PKB Inwest Budowa is set to begin construction on a new shopping park in Nowa Ruda, with the opening expected in the second quarter of 2025. The complex will feature well-known brands, including Biedronka. This will be PKB’s fourth project this year, expanding its portfolio across Poland.
“The investment in Nowa Ruda is a very important project for us. The second largest city in the Kłodzko county, with about 20,000 residents, is developing dynamically, and its residents deserve a modern shopping centre that will meet their daily needs,” says Jacek Ostwald, General Partner of PKB Inwest Budowa.
