SK: Construction output reaches year high in November, but annual growth slows

Construction output in Slovakia reached its highest monthly level of 2025 in November, although the pace of year-on-year growth weakened, according to data published by the Statistical Office of the Slovak Republic.

Total construction production amounted to EUR 907.5 million in November 2025, exceeding the EUR 900 million threshold for the first time this year. In real terms, output increased by 2.4% year on year, marking the second weakest annual growth rate recorded in 2025. After seasonal adjustment, construction output rose by 3.5% compared with October.

The moderation in growth reflected a decline in domestic new construction, which fell by 2.3% year on year. This decrease was only partly offset by a strong rise in repair and maintenance works, which increased by 8.5%. Repairs and maintenance, however, account for roughly one quarter of total construction output, limiting their overall impact on sector performance.

By construction type and at constant prices, building construction recorded a 3.5% year-on-year decline, remaining the main drag on overall performance. Civil engineering works, including road and railway construction, showed only marginal growth of 0.6%.

Construction companies based in Slovakia continued to report higher activity abroad. Output generated outside the domestic market was almost one-third higher year on year in November, extending a period of sustained growth that has been in place since October 2024.

Looking at the period from January to November 2025, total construction output reached EUR 7.5 billion, representing a 6.5% real increase compared with the same period of the previous year. This result was supported by growth in both domestic new construction and repair and maintenance activities, each rising by more than 4%. Construction output abroad increased by nearly 28% over the eleven-month period.

Over the same timeframe, both building construction and civil engineering works recorded year-on-year growth rates close to 4%, with civil engineering approaching this level slightly more closely.

The Statistical Office notes that construction data are published on a monthly basis and remain preliminary, with revisions made quarterly following price adjustments.

Business sentiment improves across regions in 2025, but companies remain cautious

Business conditions across Poland showed signs of improvement in 2025, although overall sentiment among entrepreneurs remained mixed and cautious, according to a new regional business tendency report.

The report, which assesses economic conditions across all voivodships and key sectors, indicates that business confidence strengthened compared with 2024. Improvements were recorded in every analysed area of the economy, although the scale of change varied significantly between sectors and regions. The most consistent positive trends were observed in information and communication services, as well as accommodation and food services, where sentiment improved in most regions for much of the year.

Despite these gains, data for December 2025 show that pessimistic assessments continued to dominate in several parts of the economy. Construction, wholesale trade, retail trade and manufacturing were the sectors where negative views were most widespread at the end of the year. By contrast, service-oriented activities, particularly information and communication, were more likely to record positive assessments across a majority of regions.

Manufacturing saw a noticeable year-on-year improvement in confidence in many regions, although sentiment in most cases remained below a neutral level. Construction companies also reported better conditions than a year earlier in several voivodships, but the sector continued to face weak demand and pressure on financial performance. In trade, both wholesale and retail businesses noted modest improvements during the year, yet expectations for the coming months largely remained negative.

Transport and storage emerged as one of the stronger-performing sectors in 2025, with confidence improving in a majority of regions. Some areas maintained positive sentiment for most of the year, supported by better assessments of current business conditions, even as expectations for future demand remained restrained. Accommodation and food services recorded the most optimistic assessments overall, with several regions reporting consistently positive sentiment throughout the year.

The report highlights labour-related expenses as the most significant constraint on business activity across sectors and regions. High employment costs were particularly burdensome for construction firms and businesses operating in accommodation and food services. Companies also pointed to uncertainty surrounding the broader economic environment and the level of mandatory public charges as factors limiting activity, especially in trade and construction.

Decisions on employee pay were most often linked to the financial condition of companies. This factor played a central role in manufacturing, construction and wholesale trade across all regions. Maintaining the real value of wages was also cited as an important consideration, although less frequently than overall company performance.

Overall, the findings suggest that while business confidence in Poland improved in 2025, the recovery remained uneven. Persistent cost pressures and uncertainty continue to weigh on sentiment, indicating a cautious outlook for the months ahead across much of the economy.

Source: Statistics Poland

Czech building societies increase lending by more than 30% in 2025

Building societies in the Czech Republic provided housing-related loans totalling CZK 67.2 billion in 2025, representing a 30.4% year-on-year increase, according to data from all five Czech building societies compiled by the Czech News Agency.

The growth was driven mainly by rising demand for unsecured loans, typically used for apartment and house renovations and energy-efficiency improvements. These loans accounted for 86% of all loans granted, or 44,132 contracts, with their total volume rising by 41.5% year on year to CZK 38.8 billion.

“The figures for 2025 clearly show that building societies are an important part of financing better housing in the Czech Republic,” said Pavel Čejka, Executive Director of the Association of Czech Building Savings Banks. “Just available unsecured loans for renovations of apartments and houses and for energy savings today represent a significant reason why people actively use building savings.”

The total number of loans granted rose by 6.6% compared with 2024, while the average loan amount increased from CZK 1.07 million to CZK 1.31 million.

Interest in new building savings contracts declined slightly. In 2025, building societies concluded 437,067 new contracts, down 3.4% year on year. Despite this decrease, Čejka said building savings remain attractive. “At a time of more expensive housing, it confirms its role as a convenient, safe and predictable source of funding, as evidenced by 437,000 newly concluded contracts in 2025,” he noted.

The lower number of new contracts was accompanied by a reduction in the aggregate target amount, which fell by 5.7% year on year to CZK 292.6 billion. The target amount reflects clients’ future intentions regarding how much they plan to save or borrow for housing.

Among individual institutions, ČSOB Building Savings Bank recorded the highest loan volume at CZK 19.8 billion, followed by Raiffeisen Building Savings Bank with CZK 16.7 billion and SSČS with CZK 18.0 billion. The Blue Pyramid reported a slight year-on-year decline in lending, while Moneta Building Savings Bank recorded a sharp drop from a relatively low base.

Overall, the data indicate that while demand for new savings contracts eased, building societies strengthened their role in housing finance in 2025, particularly through unsecured lending linked to renovations and energy-saving investments.

PL: Jobs will not disappear, but permanent employment may become a premium option

The gig economy, based on short-term, project-driven work rather than long-term employment contracts, is set to play an increasingly important role in labour markets, including in Poland. According to experts from Personnel Service, traditional permanent employment will not vanish, but it will no longer be the default model of cooperation.

The gig economy allows workers to deliver specific projects for multiple clients simultaneously, instead of being tied to a single employer. While this model has so far been most common among developers, marketers and creative professionals, it is now expanding into a broader range of sectors. Growing use of artificial intelligence and rapid changes in business conditions are making flexible, project-based work more attractive for companies than fixed, year-round employment in some roles.

Experts argue that this shift does not signal the end of permanent jobs, but rather their transformation. Full-time employment may become one of several parallel forms of cooperation, alongside project contracts and freelancing, rather than an automatic standard.

“Gig economy is not a rebellion against full-time work, but a response to the growing volatility of business,” said Krzysztof Inglot, labour market expert and founder of Personnel Service. “In the era of widespread use of artificial intelligence, companies will increasingly need specific competences, but not necessarily for 40 hours a week throughout the year. Instead, demand will grow for intensive, short-term work on concrete projects, implementations or crisis situations. Increasingly, organisations will also turn to experts for two or three days a week rather than hiring them full time.”

According to Personnel Service, one likely direction of change concerns highly qualified specialists and managers. In areas such as IT, marketing, consulting or cybersecurity, a model often described as “fractional work” is gaining ground. Under this approach, an expert or manager works simultaneously for several organisations, dedicating part of their time to each.

“For many organisations, employing a full-time marketing or IT director is now a cost they either do not want or cannot afford,” Inglot noted. “Instead, they prefer to engage a top expert for one or two days a week. For specialists, this means greater independence and often higher income, while companies gain flexibility and access to key competences exactly when they are needed.”

At the other end of the labour market, the gig economy is also reshaping simple service work, including driving, courier services and other operational roles. In these areas, project-based work lowers the barrier to entry and allows companies to respond quickly to fluctuations in demand. At the same time, it is contributing to a growing divide between more expensive but stable full-time staff and a flexible group of gig workers serving seasonal or short-term needs.

This pattern is already visible in sectors such as e-commerce and logistics, where demand for labour can rise sharply for part of the year and then ease in subsequent months. However, experts warn that this model carries risks, particularly employment instability and limited access to social protection. As a result, the development of systems that ensure basic security for project workers, including access to healthcare and pensions, will become increasingly important.

A third trend identified by Personnel Service involves the spread of gig economy principles within large organisations themselves. Some companies are creating internal project platforms that allow full-time employees to take on additional assignments in other departments.

“This is an attempt to reconcile job stability with the flexibility employees increasingly expect,” Inglot said. “Companies that do not offer such opportunities risk becoming training grounds for freelancers, educating people who will then leave to work independently.”

In the longer term, experts believe permanent employment will remain part of the labour market, but its role may change. Full-time contracts are likely to be reserved for positions where long-term relationships, loyalty and accumulated know-how are essential and difficult to replace with project-based work.

“The labour market is no longer uniform,” Inglot concluded. “We are entering an era of choosing between models rather than relying on a single dominant one. This can benefit both companies and employees, provided these changes are accompanied by an adequate social security framework.”

Source: Personnel Service

7R to develop build-to-suit facility for VOX near Poznań

7R has signed a long-term lease agreement with Profile VOX for more than 20,000 sq m of warehouse and production space in Pobiedziska, near Poznań. The facility will be developed on a build-to-suit basis and will combine warehousing and production functions within a single hybrid layout.

The project is designed to meet specific technical requirements, including insulation and energy efficiency standards. The new site will strengthen VOX’s operational presence in one of Poland’s established industrial and logistics regions and reflects a growing focus on shortening supply chains by locating production closer to end markets.

“The agreement is another example of nearshoring, which is no longer seen as a theoretical trend, but is becoming a real phenomenon with a positive impact on the Polish market,” said Damian Kołata, Head of Commercial at 7R. “Decisions to combine production and logistics in one place are increasingly based on simple cost-benefit calculations. Shorter delivery times, greater predictability of lead times and better control over processes have real business value today, especially in an environment where demand for selected categories is growing rapidly.”

The facility will be located close to national road No. 5 (international route E-261) and will provide more than 20,000 sq m of space, including warehouse and production areas as well as two-storey office accommodation. In line with VOX’s sustainability objectives, the building will be equipped with heat pumps and a 350 kWp photovoltaic installation, with the option to expand capacity to 1,000 kWp.

According to the developer, the project will integrate production and logistics operations in a single location, supporting scale and operational resilience. The facility will incorporate modern production lines, a high level of automation and digitalisation, and solutions aligned with Industry 4.0. Automated guided vehicles (AGVs) will form part of the internal logistics system to support material flows between processes.

“The decision to lease 20,000 sq m of space in a model integrating production and warehousing is a response to the company’s growing operational needs,” said Jarosław Raj, a member of the VOX management board. “The investment will shorten order fulfilment times, increase flexibility and improve the stability of the supply chain. At the same time, it represents the next stage in our company’s development—after a period of intensive expansion of the VOX brand on the Indian market, we are now focusing on strengthening our operational base in Europe, expanding our production capacity and modernising our infrastructure.”

Kołata added that demand for such integrated facilities remains strong. “Companies increasingly expect facilities that are not just warehouses or production halls, but that actually support the end-to-end process, which fits perfectly with our ‘Beyond Warehouse’ concept,” he said. “Pobiedziska combines proximity to Poznań, access to the labour market and a location favourable for distribution both within Poland and towards western markets.”

The transaction reflects broader trends in Poland’s warehouse and light manufacturing sector, where demand continues to grow beyond the largest urban markets. Over the past six years, Poland’s total warehouse stock has expanded to more than 36 million sq m, with occupiers placing greater emphasis not only on rental levels, but also on operational efficiency, automation potential, layout flexibility and total cost of ownership.

Late payments affect majority of Polish companies, survey finds

Late payments remain a widespread issue for businesses in Poland, with 84% of companies reporting that their contractors fail to settle invoices on time, according to a survey commissioned by BIK Group in the fourth quarter of 2025. The study also shows that one in three companies waits more than 60 days for payment after the due date.

Despite the scale of the problem, many businesses delay taking action. Around 30% of companies wait up to two months beyond the payment deadline, increasing the risk to their own liquidity. Survey respondents indicated that concerns about damaging business relationships are a key reason for avoiding reminders or formal payment claims, particularly when dealing with larger or more dominant clients.

According to BIK, this reluctance contributes to payment delays becoming an accepted market practice. Extended payment terms can disrupt cash flow and lead to broader payment bottlenecks, affecting not only individual firms but entire supply chains.

Entrepreneurs often allow informal extensions of payment deadlines, prioritising the preservation of customer relationships over immediate financial considerations. This approach, however, can undermine a company’s financial stability, especially in periods of tighter liquidity.

Commenting on the findings, Marcin Gozdek, Director of the Retail Market at BIK S.A., said:

“It is worth using solutions that effectively, in a professional and comfortable way for the relationship, allow you to avoid tension and reduce the risk of not receiving funds on time. Such support is offered by ‘Safe Invoice’ – a new tool in the BIK offer for companies. This solution supports entrepreneurs in the implementation of factual and friendly communication with contractors and at the same time allows to support themselves with the presence of a professional partner, which is BIK.”

BIK notes that its Safe Invoice service allows companies to automate reminders about upcoming payment deadlines and outstanding invoices. If payment delays persist, the system enables the issuance of a formal payment request and, where necessary, an entry in the debtor register operated by BIG InfoMonitor.

The company stresses that the aim of the tool is not to replace entrepreneurs’ decision-making, but to provide structured options for managing receivables and reducing payment risk. According to BIK, preventive measures and early communication with contractors remain the most effective way to limit payment delays and protect business liquidity.

Logivest brokers 11,000 sq m logistics facility to Magnera near French border

Logivest has brokered a long-term lease of a logistics property in Gaggenau to Magnera. The facility, located at Max-Roth-Straße 5, is managed by Hillwood.

Magnera was seeking a logistics site to support its production operations in Gernsbach. Logivest identified a suitable property less than ten minutes away, enabling the company to consolidate its warehouse operations close to the manufacturing facility. The mandate was placed via the logistics service provider exchange Logivisor.com.

The property offers close to 11,000 sq m of warehouse space, including a mezzanine level, as well as more than 500 sq m of office accommodation. The facility features a covered side delivery area suitable for handling large paper rolls in all weather conditions, supported by ten loading ramps and three ground-level access gates. The landlord is upgrading the existing sprinkler system to meet fire safety and insurance requirements. The building also benefits from 24/7 operating approval.

In addition to its proximity to the production site, the location provides good access to the A5 motorway, a key north–south route connecting Basel, Karlsruhe and Frankfurt.

“After the negative headlines from the automotive industry, this lease is an important signal for Baden-Württemberg as a business location,” said Kathrin Ziegler, Consultant Industrial and Logistics Letting at Logivest Stuttgart. Tobias Rollnik added that several high-quality logistics properties are currently available along the A5 corridor and near the French border. “These are exciting options, particularly for hazardous goods storage or consolidation uses, as both the site layout and transport connections are well suited to these requirements,” he said.

Magnera is expected to take occupation of the new logistics space in the first quarter of 2026.

Prague 4 to file lawsuit over zoning approval for 72-metre tower at Budějovická

The city district of Prague 4 will file a lawsuit against a zoning decision issued by Prague City Hall that permits the construction of an administrative building more than 70 metres high at the corner of Budějovická and Vyskočilova streets.

According to the district authority, the planned 19-storey building, with a proposed height of 72 metres, is incompatible with the character of the area and would adversely affect nearby residents. District spokesperson Aleš Berný said the project would lead to a loss of daylight and sunlight for surrounding homes, reducing living comfort and overall quality of life.

The zoning decision was issued on 17 December last year. Prague 4 has until 18 January to lodge its legal challenge. District representatives have criticised the timing of the decision, arguing that its release shortly before the Christmas holidays limited the opportunity for a timely response. Deputy Mayor for Territorial Development Patrik Opa (ODS) described the procedure as both substantively flawed and unfair.

The dispute has already been reviewed by the Supreme Administrative Court, which annulled an earlier zoning decision in July 2023 and returned the case for reconsideration. At that time, the court raised concerns over how authorities defined the so-called stabilised area, a key planning concept used to assess whether a new development is appropriate in scale and character for its surroundings.

Prague 4 now argues that the revised decision fails to reflect the court’s guidance and does not sufficiently address the project’s impact on residential living conditions in the area.

Prague 4 is home to around 135,700 residents and comprises the full cadastral areas of Braník, Hodkovičky, Krč, Lhotka and Podolí, as well as parts of Nusle, Michle, Záběhlice and a small section of Vinohrady.

Source: CTK

World Bank sees steady global growth despite rising inequality and policy uncertainty

The global economy is expected to maintain a steady pace of growth over the next two years despite ongoing trade tensions and policy uncertainty, according to the latest Global Economic Prospects report from the World Bank.

Global growth is forecast to ease to 2.6% in 2026 before rising slightly to 2.7% in 2027, representing an upward revision compared with the Bank’s mid-2025 outlook. The improved forecast reflects stronger-than-anticipated performance in several major economies, with the United States accounting for a large share of the upward revision.

Despite this resilience, the report notes that the 2020s remain on course to be the weakest decade for global growth since the 1960s. The slower pace is contributing to widening income disparities. By the end of 2025, most advanced economies had recovered to levels above their 2019 per capita incomes, while around one quarter of developing economies remained below pre-pandemic levels.

Growth in 2025 was supported by a temporary rise in global trade ahead of policy changes and rapid adjustments in supply chains. These factors are expected to diminish in 2026 as trade activity and domestic demand moderate. At the same time, easing financial conditions and fiscal expansion in several large economies are expected to help offset the slowdown. Global inflation is projected to decline to 2.6% in 2026, driven by softer labour markets and lower energy prices, with growth expected to strengthen in 2027 as trade patterns stabilise and uncertainty recedes.

According to Indermit Gill, the global economy has shown an increasing ability to absorb policy shocks, but this resilience is accompanied by weakening growth momentum. He warned that sustained low growth alongside high levels of public and private debt could place pressure on public finances and credit markets, underscoring the need for reforms to support investment, productivity and education.

In developing economies, growth is projected to slow to 4% in 2026 from 4.2% in 2025, before edging up to 4.1% in 2027 as trade tensions ease and financial conditions improve. Low-income countries are expected to grow faster, averaging 5.6% over 2026–27, supported by firmer domestic demand and recovering exports. Even so, per capita income growth in developing economies is forecast at around 3% in 2026, below its long-term average, leaving incomes at roughly 12% of levels in advanced economies.

The report highlights the challenge of job creation in developing regions, where an estimated 1.2 billion young people will enter the labour force over the next decade. It argues that addressing this pressure will require investment in infrastructure and skills, improvements in the business environment, and greater mobilisation of private capital.

The World Bank also points to growing fiscal pressures in developing economies, where public debt has reached its highest level in more than 50 years. A special section of the report examines the role of fiscal rules—such as limits on deficits or public debt—in strengthening budget discipline. More than half of developing economies now operate at least one such rule.

M. Ayhan Kose said restoring fiscal credibility has become increasingly urgent. While fiscal rules can support debt stabilisation and economic resilience, the report stresses that their effectiveness depends on institutional strength, enforcement and political commitment.

CTP leases last-mile logistics space in Amsterdam to online supermarket Crisp

CTP has signed a long-term lease with Crisp at CTPark Amsterdam City, a multistorey urban logistics scheme in the Dutch capital.

Crisp has taken a 15-year lease on approximately 13,000 sq m of warehouse space and 3,000 sq m of mezzanine space. The new facility will allow the company to consolidate its logistics operations into a single location and support the further development of its in-house production kitchen.

The move reflects a broader trend in the food retail sector, where logistics, production and quality control functions are increasingly being integrated within advanced last-mile facilities to support growing demand for fresh and ready-to-eat products. Crisp’s decision to locate at CTPark Amsterdam City underlines the role of urban logistics hubs in serving densely populated markets.

CTPark Amsterdam City is certified BREEAM Excellent and operates with a largely self-sufficient energy system supported by solar and wind power, as well as large-scale battery storage. The site also offers infrastructure for emission-free distribution, including extensive electric vehicle charging facilities, alongside road and water connections to Amsterdam’s canal network.

Tom Peeters, CEO of Crisp, said: “This new location supports a future-proof logistics setup. It allows us to scale optimally and prepares us for the further development of our own professional production kitchen, ‘Freshly Prepared by Crisp’, through which we will meet the rapidly growing demand for tasty and healthy ready-to-eat meals. This is a distinctive segment for Crisp, and one that keeps customers coming back.”

Across Europe, more occupiers are consolidating production and distribution networks into fewer, more advanced last-mile hubs in order to improve efficiency and proximity to customers. In the Netherlands, this trend is reinforced by power capacity constraints and grid bottlenecks, making logistics facilities with on-site energy generation increasingly attractive to users seeking operational certainty.

CTPark Amsterdam City is located in the Port of Amsterdam, directly on the North Sea Canal and around three kilometres from the A10 ring road. The scheme offers more than 120,000 sq m of flexible logistics space, including cross-dock access, a private quay for electric inland shipping and infrastructure designed for high-density logistics operations.

In a market such as Amsterdam, where last-mile logistics supply remains limited, multistorey and high-density developments are expected to see continued demand, particularly from fast-growing retailers and logistics operators seeking scalable solutions close to large urban populations.

« Previous 1 … 105 106 107 108 109 … 495 Next »

Latest news

All posts by fletcher@cijeurope.com.