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.
Żabka Debuts on Warsaw Stock Exchange
Polish convenience store chain Żabka debuted on the Warsaw Stock Exchange, raising PLN 6.99 billion (€1.6 billion) from its IPO, with shares rising 7%. This is the largest IPO in Poland since 2020. Żabka aims to double sales by 2028 and open 1,000 stores per year in Poland and Romania, expanding its innovative projects like autonomous stores and its Froo brand internationally.
“The listing of the Żabka Group on the Warsaw Stock Exchange is an important step in implementing our long-term growth strategy. We regard the huge interest in our IPO from Polish and international financial institutions, as well as individual investors, as proof of the market’s confidence, ” said Tomasz Suchański, CEO of Żabka.
The Bridge Secures Financing from Santander
Ghelamco secured €181 million in financing from Santander Bank Polska for The Bridge office complex in Warsaw. Santander will also be an anchor tenant, leasing nearly 21,000 sqm. The project, designed by UNStudio, is set to be completed in Q1 2025 and aims to set a new ESG benchmark for the Polish office market.
“The financing obtained will allow us to complete the construction of The Bridge promptly. This will be the most technologically advanced and sustainable project in our company’s history. The Bridge will become a benchmark for the Polish office market for years to come and will set the bar high”, says Jarosław Zagórski, Managing Director, Ghelamco Poland.
Belgrade’s Sirius Offices Reach Full Occupancy
Sirius Offices, a 30,000 sqm office complex in Belgrade, achieved 100% occupancy, attracting tenants from finance, IT, and construction. Developed by Erste Group Immorent, the complex is BREEAM Excellent certified. Anchor tenants include Erste Bank Serbia and Strabag, while Ducati is the latest tenant.
“By investing in the development of Sirius Offices, Erste placed a significant bet on the underlying dynamism of Serbia’s economy and the need for high-quality office space in the Belgrade market,” said Wolfgang Hausner, Managing Director of Erste Group Immorent.
Wing Completes Residential Project in Budapest
Wing’s residential arm, Living, delivered the third phase of the Kassák Project in Budapest, with 246 apartments. The Kassák Terrace project features studios to six-room penthouses, with sustainable features such as surface heating, cooling, and electric vehicle charging stations. Sales are ongoing.
“This is a major milestone for Living, as we have built 250 additional high-quality apartments with a focus on environmental considerations,” says Tibor Tatár, Deputy CEO of Wing’s residential and office development businesses in Hungary.
