Monthly Archives for December 2025

Nhood Services Poland completes further public consultation stage for Wilanów Park

Nhood Services Poland has concluded another stage of public consultations related to the planned Wilanów Park mixed-use development in the Wilanów district of Warsaw. The consultations focused on the project’s functions, programme and integration with its surroundings, with input collected from local residents and district representatives.

Between June and October 2025, the second consultation phase was carried out by A2P2 architecture & planning, acting on behalf of the investor. This stage concentrated on evaluating the planned uses of the project and assessing how well they correspond to the needs of the local community.

According to Grzegorz Kwiecień, Senior Project Manager at Nhood Services Poland responsible for the Wilanów Park project, the aim of the consultations was to better understand residents’ expectations and ensure that the proposed functions are aligned with everyday needs in the district. Feedback from this process is intended to support further refinement of the development concept.

The consultation programme included meetings at designated consultation points in Wilanów, open workshops, discussions with representatives of the district authorities as well as local cultural and social institutions, and an online survey. Residents highlighted the importance of access to services and retail functions that would complement existing offerings in the area. Among leisure-related proposals, a cinema was frequently mentioned; a multi-screen cinema has already been included in the project at the architectural design stage. Plans also предусматри include cultural and social facilities, such as a year-round orangery.

Participants also drew attention to the needs of children and young people, a growing demographic group in the district. The project concept предусматри recreational and sports-related spaces for different age groups. Cycling infrastructure was another recurring topic, with plans for bike paths that would connect to existing routes in the southern part of the city.

Transport and road infrastructure were discussed during the consultations. Following these talks, the project team held discussions with the Wilanów District Office, the City Road Authority and Warsaw Trams regarding road improvements and the planned extension of the tram line. These measures are intended to improve connectivity within the district.

Green spaces were also identified as a priority. In addition to a public park of more than two hectares, which has been part of the project concept from the outset, plans include a community garden and green roofs to support recreation and everyday use.

The results of the consultations were presented by A2P2 to residents in September 2025, and subsequently to a broader group of stakeholders at the end of October, including the project’s investors Ceetrus Polska and Apsys Polska, representatives of the Wilanów district and members of the academic community. The latter presentation took place during the international Eco-City conference and included a discussion on participatory approaches to urban development.

Wilanów Park is planned as a multifunctional development combining retail, dining, services and leisure facilities with publicly accessible green space. The project is being led by Nhood Services Poland on behalf of Ceetrus Polska and Apsys Polska and is planned for delivery in the Wilanów district of Warsaw.

Generali Fond Realit acquires portfolio of three Lidl stores in cooperation with SCF

Generali Fond Realit, managed by Generali Investments CEE with advisory support from Generali Real Estate, has completed the acquisition of a portfolio of three newly developed Lidl supermarkets in the Czech Republic. The transaction was carried out in cooperation with Czech investment group Star Capital Finance (SCF) and represents the first completed deal between the two parties.

The acquired properties are located in Mníšek pod Brdy, Kutná Hora and Olomouc. Together, the three supermarkets provide a total leasable area of 6,816 sq m. Each store has been developed by Lidl and is located at established or developing retail nodes: near the D4 motorway in Mníšek pod Brdy, close to the Šipší shopping centre in Kutná Hora, and at the entrance to Olomouc along road 55.

The transaction is structured as a sale-and-leaseback. Lidl developed the properties to its operational specifications and, following completion, sold them to the fund while remaining as the long-term tenant. According to the parties involved, this structure aligns with Generali Fond Realit’s investment strategy, which focuses on income-generating assets with long-term leases.

As part of the transaction, Generali Fond Realit becomes the sole owner of the properties, while SCF takes a shareholding position in the fund. Representatives of both groups described the deal as the start of a broader cooperation in the Central and Eastern European region.

One of the acquired stores, located in Mníšek pod Brdy, incorporates elements of Lidl’s newer store concept, including updated architectural design and revised internal layouts. The remaining locations follow the retailer’s current standard format.

The acquisition further expands Generali Fond Realit’s retail portfolio in the Czech market and marks SCF’s first completed joint investment with the Generali group.

Global Vision Investment Fund S.A. signs a financing agreement for development with BCR  

Global Vision Investment Fund, an investment and real estate development platform founded by the Global Vision group, has signed a financing agreement with Banca Comercială Română (BCR) for the Diehl Aviation facility project in Craiova. The financing, totaling EUR 12,700,000, consists of a development loan with a top-up included and supports the construction and development of the Diehl industrial asset, which is nearing completion.

 

The transaction represents another important step in GVIF’s strategy to diversify its sources of financing and consolidate its investment portfolio, in line with its approach to supporting high-quality industrial projects alongside high-caliber financial partners. It is part of a series of recent financings and reflects the platform’s commitment to continue to access solid financial solutions for its projects.

 

“Securing this financing represents a strategic step in optimizing the structure of the invested capital and implementing this project, which aligns with our selective investment policy in quality assets with predictable cash flow and long-term contracts. This ensures that we maintain a diversified and balanced portfolio with solid returns, capable of remaining resilient to changes in the real estate market and the economic environment. This approach of the platform translates into long-term stability and investment clarity for investors” said Sorin Preda, CEO and Founder of Global Vision.

 

Global Vision received legal assistance from Filip & Company in the transaction.

HORIZON CITY Resumes Sales after Achieving Full Compliance with the “Nordis” Law

HORIZON CITY announces the resumption of sales after the project has fully complied with the provisions of Law No. 207/2025, known as the “Nordis” Law, and completed, in record time, all procedures related to the pre-apartmentation and registration in the Land Registry.

 

Law No. 207/2025 entered into force on 11 December 2025 and introduced major changes in the way reservation agreements and preliminary sale and purchase agreements are concluded for residential units under construction. The main objective of the new legislation is to protect buyers, by introducing clear rules regarding transparency, legal individualization of residential units, and the strictly regulated use of advance payments.

 

“Rapid compliance with Law No. 207/2025 was a strategic priority for HORIZON CITY. We believe that this law creates a fairer and more mature framework for the entire Romanian real estate market. The fact that we completed the pre-apartmentation process and all Land Registry registrations in record time demonstrates our operational capacity and our commitment to transparency and to the genuine protection of buyers,” said Cătălin Apetri, CEO and Founder of CGA Home Consulting and Development Director for Romania of the investor Ghai Sant Ram.

 

HORIZON CITY is located on Pipera Boulevard and is a large-scale residential development. It is developed by the British investor Ghai Sant Ram on a plot of nearly 23,000 square meters, following a private investment of EUR 130 million.

Griffes Leases 6,000 sqm in Unirii View

Griffes, Romanian real-estate advisory practice, announces the successful leasing of 6,000 sqm of office space in Unirii View office project located in the center of Bucharest.  Out of the 6,000 sqm leased, 2,000 sqm represent new tenants joining the tenant palette, while 3 tenants expanded operations and grew their space take up in the building.

 

The transactions were concluded with companies operating in the business services and IT sectors.

 

“With new office deliveries remaining limited, well-positioned assets in central areas such as Unirii View continue to outperform, attracting tenants that are making strategic, long-term decisions about their workplaces. For the first time in nearly 20 years, the Bucharest office market has gone through an entire year without the delivery of any new office developments. This prolonged pause in new supply has intensified the mismatch between available space and tenant demand, pushing vacancy in Class A buildings in the Center submarket down to a record-low 3%. At the same time, prime assets have seen rental levels increase by 5%, further widening the gap between high-performance office buildings and older stock. In the next years, this dynamic is expected to persist, with occupiers placing growing emphasis on workspace quality, employee well-being and ESG alignment, while developers calibrate future projects to respond to these priorities.”, said Andreea Păun, Managing Partner Griffes.

 

Greek Jewelry Brand Anna Maria Mazaraki Enters the Local Market and Opens Store in ParkLake

Greek jewelry brand Anna Maria Mazaraki has opened its first local store in ParkLake Shopping Center, a project developed by Sonae Sierra. The rental transaction was brokered by real estate consultancy Cushman & Wakefield Echinox.

 

“Romania continues to attract top brands and investors, demonstrating an increasing appetite for quality retail spaces. The opening of the first Anna Maria Mazaraki store in ParkLake Shopping Center confirms the strong demand for innovative concepts and premium locations, capable of offering an exceptional customer experience and supporting sustainable business growth,” says Dana Radoveneanu, Head of Retail Agency, Cushman & Wakefield Echinox.

 

At group level, Anna Maria Mazaraki operates 44 points of sale, of which 28 stores in Greece, five in Cyprus, eight duty-free units in airports, two stores on cruise ships and an online store.

Meta Estate Trust Inaugurates Retail Park in Ciolpani

Meta Estate Trust announces that Retail Park Ciolpani, the retail project developed on DN1 (Bucharest–Ploiești), is open and operational.

 

The park thus becomes the first asset of its kind in the Meta Estate Trust portfolio to generate recurring income. The total investment value in the Retail Park Ciolpani Project amounts to approximately 2 million euros, for a leasable area of ​​approximately 2,650 square meters.

 

“The early opening of Retail Park Ciolpani represents a milestone for Meta Estate Trust. It is our first operational retail park and the first to generate recurring revenues, confirming the attractiveness of the project and the team’s ability to deliver beyond expectations. The investment value of approximately 2 million euros, the tenant portfolio and the structure of long-term contracts support this development. Our projections indicate a solid revenue potential, and the location on DN1 directly responds to the growing needs of communities in the north of the Capital,” said Bogdan Gramanschi, CFO and interim CEO of Meta Estate Trust.

 

Source: Profit.ro

Bog’Art Published its Sustainability Report for 2024

Bog’Art has published its Sustainability Report for the 2024 activity year, marking the second consecutive year in which the company voluntarily reports on its impact and performance in the areas of environmental protection, social responsibility, and corporate governance, across the ESG (Environmental, Social, Governance) pillars. This initiative confirms Bog’Art’s commitment to transparency, accountability, and sustainable development in Romania’s construction industry.

 

With nearly 35 years of experience and a diverse, well-balanced portfolio of projects—from civil works to strategic infrastructure and utility networks—covering all stages of development, from design and permitting to execution and final handover, Bog’Art continues to strengthen its position as a leader that integrates sustainability into its operating model.

 

The 2024 Sustainability Report highlights clear progress and measurable results and was developed on a voluntary basis, in line with elements of the European Sustainability Reporting Standards (ESRS), including the double materiality assessment, as well as concepts aligned with GRI standards.

 

A key indicator of the effectiveness of the measures implemented is the early achievement of 4 out of the 9 sustainability objectives initially set for 2028. Compared to the previous year, Bog’Art recorded significant operational improvements, including a 32% reduction in water consumption on construction sites, a 6% decrease in electricity consumption and a 34% reduction in gas consumption at headquarters, a 37% decrease in the use of metal materials, and a 415% increase in the quantity of materials recycled and responsibly disposed of.

 

The integration of modern technologies and digital solutions has contributed to reducing environmental impact, optimizing transport, and limiting operational losses, alongside continuous investments in environmental protection measures on construction sites and in regular employee training programs.

 

The 2024 Sustainability Report was developed with the support of BuildGreen, a specialized consultancy that has assisted the company since its first year of reporting in the analysis, structuring, and interpretation of sustainability data, in line with industry best practices.

 

“Our second ESG Report confirms that sustainability is a continuous process, deeply embedded in the way we work. The results achieved in 2024 demonstrate that the measures implemented at both operational and site levels generate real and measurable impact. We will continue this journey with the same rigor and responsibility toward the environment, our people, and our partners,” stated Mr. Bogdan Doicescu, designated Environmental Policy Officer, Group CEO & Executive Board Member of the Bog’Art Group.

S19 Rzeszów Południe–Babica: concrete tunnel lining installation completed

An important milestone has been reached in the construction of the tunnel on the S19 Rzeszów Południe–Babica expressway section. The contractors – a consortium of Mostostal Warszawa and ACCIONA – have completed the installation of the concrete inner lining of the first tunnel tube. The final segment was placed as part of a total of 11,020 prefabricated elements forming the tunnel’s internal structure.

The concrete lining of the first tube was assembled from prefabricated segments, known as tubbings, which were used to create successive tunnel rings. The segments were manufactured in a dedicated prefabrication facility in Lutoryż, located near the construction site, and delivered directly to the tunnel boring machine (TBM) for installation during excavation. Each ring consists of ten segments, together forming a sealed and durable structure designed to withstand demanding geological conditions.

The completion of the concrete lining followed the breakthrough of the first tunnel tube, achieved on 10 December, when the “Karpatka” TBM reached the northern portal after boring a section more than 2.2 kilometres long. This marked a key moment for the project and the first tunnel of this type in the region to be constructed using a TBM.

During a site visit, Minister of Infrastructure Dariusz Klimczak described the breakthrough as an example of how effective cooperation, strong commitment and significant financial investment can deliver results of European relevance. He thanked the engineers, designers and specialists involved for completing this stage of the project. Jorge Calabuig Ferré, President of the Management Board of Mostostal Warszawa, said the completion of the first tunnel bore demonstrated the ability of Mostostal Warszawa and ACCIONA to deliver highly complex infrastructure projects and confirmed the capability of Polish engineering to address advanced technological challenges.

The “Karpatka” TBM is one of the largest and most technologically advanced machines of its kind used in Poland. Measuring 114 metres in length and 15 metres in width, and weighing approximately 4,400 tonnes, it is equipped with a hydraulic-electric drive and twelve motors, each with a power of 1 MW. Its cutting head, weighing around 400 tonnes, rotates at up to three revolutions per minute and is fitted with 471 cutting tools. During excavation, the machine operated at depths exceeding 100 metres below ground level.

Construction of the tunnel required managing complex geological conditions associated with Carpathian flysch formations and the presence of methane. Advanced monitoring, detection and ventilation systems were deployed, alongside detailed safety procedures. Work was carried out continuously, with teams of specialised engineers, operators and technical staff on site around the clock.

The delivery of the TBM to Poland was itself a major logistical operation and the largest road transport project ever undertaken in the country. The machine was shipped by sea from Santander in Spain to the port of Szczecin, then transported by barges along the Oder River to Opole, before being moved by road to the construction site in Babica. To limit disruption, road transport took place at night. The operation attracted widespread public attention, with many local residents observing the transport process.

The Babica tunnel is 2,255 metres long and will ultimately comprise two separate one-way tubes, connected by 15 cross passages and an emergency passage. Each tube will accommodate two traffic lanes and an emergency lane. The tunnel is the most complex and technologically advanced element of the 10.3-kilometre S19 section and a key component of the Via Carpatia international transport corridor.

Following completion of the first bore, the next phase will involve rotating the Karpatka TBM to begin excavation of the second tube. The start of these works will depend on the results of a technical inspection of the machine and any required repairs or modifications. The rotation will be carried out at the northern portal using an airmover system.

The project is being implemented by the Mostostal Warszawa–ACCIONA consortium on behalf of the General Directorate for National Roads and Motorways. With a total value exceeding PLN 2 billion, it is one of the most significant and technically demanding infrastructure investments currently underway in Poland and is expected to improve road safety, reduce travel times and enhance transport accessibility along the Via Carpatia route.

Warsaw office market in 2025 marked by limited new supply and focus on quality

The Warsaw office market is closing 2025 in a phase of stabilisation, with a growing emphasis on asset quality rather than volume, according to the latest outlook from AXI IMMO. Limited new development, the gradual withdrawal of older buildings and steady occupier demand are reinforcing the position of prime locations and modern office stock.

AXI IMMO estimates that around 90,000 sq m of new office space will be delivered in Warsaw by the end of 2025, broadly in line with the previous year. The volume of space under construction remains constrained and is not expected to exceed 200,000 sq m, reflecting a cautious approach by developers. New activity continues to be concentrated mainly in central areas, where demand is more resilient.

“The Warsaw office market is maturing. The drop in new supply is not a sign of weakness but part of a natural rebalancing process,” said Emilia Trofimiuk, Research Manager at AXI IMMO. “We’re seeing more obsolete assets taken off the leasing market for full repositioning or major upgrades. It’s a clear sign that both landlords and tenants are becoming more discerning, and real product quality is steadily increasing.”

Total leasing activity in 2025 is forecast to reach approximately 740,000 sq m, a level comparable to 2024. Lease renewals continue to account for the majority of transactions, although relocation activity remains stable, particularly among tenants seeking higher standards, more efficient layouts and improved public transport connectivity.

At the end of the third quarter of 2025, the overall vacancy rate in Warsaw stood at around 9.7%, with notable differences between central and non-central submarkets. AXI IMMO expects vacancy to decline gradually in the coming months, especially in the most sought-after buildings.

“Simply being in a good district is no longer enough,” said Bartosz Oleksak, Associate Director, Office Agency at AXI IMMO. “Tenants are increasingly focused on micro-locations, metro access, commuting comfort and the overall environment around the building. These factors played a key role in shaping lease-up speed and rent levels throughout 2025.”

Prime headline rents remained broadly stable toward the end of the year. In the best office buildings in the city centre, asking rents reached up to approximately €27.5 per sq m per month, while in non-central locations rates started at around €9.5 per sq m. According to AXI IMMO, upward pressure on rents is mainly visible in new developments and refurbished assets that offer high technical standards and ESG-oriented solutions.

“The end of 2025 confirms that Warsaw’s office market is increasingly driven by quality and selectivity,” said Tomasz Michalczyk, Head of Office Agency at AXI IMMO. “For landlords, this means continued investment in upgrades and tailoring buildings to real tenant needs. For companies planning an office move, it means earlier planning and a more strategic approach to site selection.”

Source: AXI IMMO

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