Cordia Romania launches sales for Centropolitan in central Bucharest

Cordia Romania, part of the Futureal Group, has officially opened sales for Centropolitan, a new residential scheme located close to Bucharest Mall and Alba Iulia Square.

The launch follows strong pre-launch interest, with several hundred registrations recorded in recent weeks. The project has now entered a pre-sales phase running from 20 April to 20 May 2026, offering early buyers preferential pricing.

According to Mauricio Mesa Gomez, Chairman of the Board for Cordia Romania and Spain, the scheme is being brought to market amid continued underlying demand and a tightening pipeline of centrally located new-build residential projects. He noted that Bucharest is increasingly characterised by more selective buyers and limited availability of high-quality developments in prime locations.

Centropolitan represents an estimated investment of around €65 million and will deliver 274 apartments, ranging from studios to four-bedroom units. The scheme will also include approximately 3,345 sqm of ground-floor retail space with dedicated parking, alongside around 350 sqm of resident amenities.

During the pre-sales period, pricing is expected to start at approximately €170,000 plus VAT for studio units, rising to around €337,000 plus VAT for four-room apartments.

The development is located on an 8,179 sqm plot acquired in September 2025 and is designed around a “10-minute city” concept, providing access to key amenities within a short walking distance. Piața Unirii can be reached in around ten minutes, supported by strong public transport connections.

Apartments will range in size from 42 sqm to 156 sqm and include terraces. Planned amenities include a gastro bar, children’s play areas, a games room for teenagers, coworking facilities, and dedicated fitness and yoga spaces. The retail component will operate independently, with separate parking access for visitors.

Construction is currently at the excavation stage, with works progressing to a depth of four metres below ground. Diaphragm walls are largely complete, while crown beam works are underway.

GARBE Industrial Real Estate expands French portfolio with brownfield acquisition

GARBE Industrial Real Estate France has expanded its footprint in France through the off-market acquisition of a brownfield industrial site in the Centre-Val de Loire, south of the Paris metropolitan area.

The 6.5-hectare site includes an existing industrial building with approximately 30,000 sqm of floor area and benefits from direct access to key national motorway connections, supporting its future use for logistics and industrial operations. The acquisition brings the company’s total number of managed logistics assets in France to nine.

The transaction aligns with GARBE Industrial’s revised investment strategy in France, which places greater emphasis on the repositioning of brownfield sites with redevelopment potential. The property, formerly used as a print facility, is set to undergo modernisation, with plans to create a logistics asset designed to meet contemporary environmental and operational standards. The focus will include energy efficiency, optimised space utilisation and reduced environmental impact.

Michael Vidamant, Managing Director of GARBE Industrial Real Estate France, said the acquisition reflects the company’s ambition to transform legacy industrial sites into sustainable assets aligned with future occupier requirements.

The deal was completed with support from the Lasaygues notary office and engineering firm Ecor Ingénierie.

The acquisition follows GARBE Industrial’s recent delivery of a logistics scheme in Pléchâtel, near Rennes. The development provides approximately 25,800 sqm of logistics space alongside office units on a 57,500 sqm plot along the Rennes–Nantes corridor. The project is targeting BREEAM “Excellent” certification and benefits from strong connectivity to key economic hubs in western France.

HIH Invest acquires fully let office building in Vienna

HIH Invest Real Estate has acquired an office and retail building in Vienna’s 2nd district on behalf of an institutional investor fund, further strengthening its presence in the Austrian market.

The seven-storey property, located at Aspernbrückengasse 2 near the border of Vienna’s 1st district, offers approximately 7,170 sqm of lettable space and is fully occupied. The majority of the space, around 6,500 sqm, is dedicated to office use, complemented by smaller allocations for catering, retail and storage. The asset also includes 61 underground parking spaces and bicycle parking facilities.

The building, originally constructed in 1993, has undergone extensive modernisation by the seller, a company affiliated with Thalhof Immobilien. Upgrades included façade refurbishment and a full renovation of the underground car park. The property has achieved DGNB Gold certification and is aligned with EU Taxonomy requirements, reflecting a significantly improved sustainability profile.

Further improvements are planned. These include modernisation of the foyer and entrance areas, as well as partial greening of the façade and roof. The building is already connected to district heating and has been fully upgraded to LED lighting. Green lease structures are expected to be introduced progressively across the tenant base.

Felix Meyen, Managing Director of HIH Invest, said the acquisition secures a “high-quality core asset with development potential” in a central location, highlighting the combination of flexible floorplates and relatively moderate rent levels as supportive of long-term income stability and potential value growth.

The asset benefits from close proximity to Vienna’s city centre and sits within an established commercial area that has seen increased development activity in recent years. According to Sebastian Pende, Head of HIH Invest’s Vienna branch, the city continues to offer stable fundamentals, supported by strong demand for centrally located modern office space and its resilience as a business hub.

Legal due diligence on the transaction was carried out by DORDA Rechtsanwälte, while Alpha & Partners Consulting advised on technical and ESG matters. Tax due diligence was undertaken by TPA Steuerberatung, and commercial due diligence was supported by EHL Investment Consulting. The seller received legal advice from Schönherr Rechtsanwälte, with the transaction facilitated by ZOECHLING RE.

EU population set to decline and age sharply by 2100

The European Union’s population is projected to shrink significantly over the coming decades, with a marked shift towards older age groups, according to the latest projections from Eurostat.

The EU population is expected to fall by 11.7 percent between 2025 and 2100, equivalent to a decline of around 53 million people. After reaching an estimated 451.8 million in 2025, the population is forecast to grow modestly in the short term, peaking at approximately 453.3 million in 2029, before entering a long-term downward trend to around 398.8 million by the end of the century.

The projections are based on assumptions of gradual convergence in fertility, life expectancy and migration patterns across member states.

Alongside the overall decline, the structure of the population is expected to change significantly. The share of younger people is set to contract, with those aged 0–19 projected to fall from around 20 percent of the population in 2025 to 17 percent by 2100. The proportion of working-age people is also expected to decline, dropping from 58 percent to around 50 percent over the same period.

In contrast, older age groups will account for a growing share of the population. Those aged 65–79 are expected to increase slightly, while the proportion of people aged 80 and over is projected to rise sharply, from 6 percent to 16 percent.

Current demographic patterns already reflect an ageing society, with relatively low birth rates and longer life expectancy shaping the population profile. By 2100, these trends are expected to intensify, resulting in a smaller and significantly older population.

The shift has broad implications for labour markets, public finances and social systems, as the balance between working-age individuals and retirees continues to change across the EU.

Gender pension gap persists across EU, with Czech Republic among most balanced markets

Women across the European Union continue to receive significantly lower pensions than men, although the gap remains comparatively narrow in the Czech Republic, according to the latest data from Eurostat.

On average, women aged over 65 receive around a quarter less in pension income than men across the EU. The disparity varies widely between countries, with the largest gaps recorded in Malta at roughly 40 percent, followed by Netherlands and Austria at around 36 percent. Differences remain elevated in France and Germany, where the gap exceeds one quarter.

By contrast, the Czech Republic reports a significantly smaller difference of approximately ten percent, placing it among the countries with the lowest gender pension disparities in the bloc. Similar levels are observed in Hungary, while even narrower gaps are recorded in Slovakia and Estonia.

According to Ondřej Kozel, CEO of investment platform Fingood, the relatively small difference in the Czech Republic reflects structural features of the labour market and pension system. Lower prevalence of part-time work compared with Western Europe and a more redistributive pension model contribute to narrowing the gap between men and women.

At the end of last year, the Czech Social Security Administration was paying approximately 2.35 million old-age pensions, with the average monthly pension reaching CZK 21,094. Meanwhile, average gross wages stood at CZK 49,215, highlighting the gap between working income and retirement income.

Despite the relatively smaller disparity, women across Europe remain more exposed to financial vulnerability in retirement. In most EU countries, the risk of falling into poverty is higher among female pensioners, reflecting lower lifetime earnings and career interruptions.

Kozel notes that even in markets where the gap is less pronounced, such as the Czech Republic, pensions often fall short of maintaining pre-retirement living standards. This underscores the growing importance of private savings and investment as a complement to state pension systems.

Interest in investing among women has been increasing, with female investors now accounting for roughly a quarter of clients on platforms such as Fingood. The trend reflects a broader shift towards greater financial independence and diversification of savings strategies beyond traditional bank deposits.

The data points to a persistent structural imbalance across Europe, even as some countries show signs of convergence in pension outcomes between men and women.

Source: CTK

Premier Energy targets €700m acquisition of Romanian power distributor

Energy group Premier Energy, backed by Czech entrepreneur Jiří Šmejc through Emma Capital, is planning to acquire Romanian electricity distributor Evryo in a deal valued at approximately €700 million.

The company has already signed an agreement covering Evryo’s network assets, including its core subsidiary Distribuție Energie Oltenia, which serves around 1.5 million customers. The network ranks among the largest electricity distribution systems in Romania.

The transaction remains subject to shareholder approval and regulatory clearance, with a decision expected at Premier Energy’s general meeting scheduled for 10 June. The group anticipates completing the acquisition in the second half of 2026.

The seller is Macquarie Asset Management, which has held the asset as part of its broader infrastructure portfolio.

Premier Energy is considering financing the acquisition either fully or partially through a bond issuance. If completed, the deal would mark a strategic shift for the company, giving it direct exposure to regulated electricity distribution alongside its existing activities in power generation, supply and gas distribution.

The group has been active in Romania since 2013 and is currently listed on the Bucharest Stock Exchange, with a market value of roughly CZK 27 billion. Expanding into regulated infrastructure is expected to provide more stable and predictable revenues.

Beyond Romania, Premier Energy also operates in Moldova and Hungary. The company has been growing its renewable energy portfolio, including the acquisition of a majority stake in a wind farm in Hungary from Iberdrola last year, following an earlier wind asset purchase in Romania.

The planned acquisition underlines ongoing investor interest in regulated energy infrastructure across Central and Eastern Europe, particularly assets offering stable, long-term returns.

Source: CTK

Retail parks drive Poland’s retail expansion with 70,000 sq m delivered in Q1

Poland’s retail property market continued to be shaped by the rapid growth of retail parks at the start of 2026, with nearly 70,000 sq m of new space delivered in the first quarter.

Five new schemes were completed and six existing facilities expanded, with almost all new supply concentrated in retail park formats. The trend highlights the continued shift in development activity towards smaller, convenience-led schemes.

Additional activity included the extension of the Pogoria shopping centre in Dąbrowa Górnicza and the opening of a retail component at the Warszawa Zachodnia railway station, reflecting ongoing investment in both traditional and transport-linked retail locations.

According to Colliers, Poland’s total stock of modern retail space exceeded 13.9 million sq m by the end of March, spread across 733 schemes. Market saturation rose to 371 sq m per 1,000 inhabitants, underlining the sector’s continued expansion.

“Retail parks remain well aligned with current consumer expectations and local market dynamics, offering convenience and flexible leasing structures,” said Wojciech Wojtowicz, Senior Analyst, Market Insights at Colliers. “Their relative resilience to economic cycles continues to support developer interest.”

Investment activity also remained visible. In one of the largest recent transactions in the sector, Shopper Park Plus acquired a portfolio of eight retail assets from Ceetrus and Auchan in a deal valued at more than €210 million. Elsewhere, the Quick Park scheme in Mysłowice was added to the joint portfolio of Mitiska REIM and Karuzela Holding.

Leasing activity reflected a focus on value-oriented and lifestyle segments. Discount retailers, homeware brands and health and beauty operators continued to expand, while new international entrants and returning brands added to the evolving tenant mix. At the same time, some operators exited the market or rationalised their presence.

Changes were also evident in the food and beverage segment, with new concepts entering office-led environments and mixed-use developments. Fast-food chains maintained expansion momentum, while selected brands withdrew from the market.

In the grocery sector, operators continued to adjust formats, with smaller supermarket concepts gaining traction and some larger stores being downsized or closed. Retailers are increasingly integrating physical stores with online channels, reflecting broader shifts in consumer behaviour.

Looking ahead, development activity is expected to remain concentrated in retail parks, particularly in smaller cities and suburban locations. At the end of the first quarter, around 680,000 sq m of retail space was under construction, with the vast majority allocated to retail park schemes and scheduled for delivery later in 2026.

At the same time, older retail assets in major cities are increasingly being considered for redevelopment, including potential conversion into residential use, signalling a gradual repositioning of parts of the market.

Source: Colliers

Oil supply shock pushes markets into renewed volatility

Global oil markets have been thrown into renewed instability following a sharp escalation in tensions in the Middle East, disrupting supply flows and driving prices to multi-year highs.

Crude briefly moved above USD 100 per barrel after restrictions affected shipping routes through the Strait of Hormuz, a key artery for global energy trade. Although prices eased on signs of renewed diplomatic engagement, uncertainty continues to weigh heavily on the market.

The disruption has tightened physical supply conditions, with buyers competing for limited cargoes and paying elevated premiums. Refining activity has slowed in several regions, particularly in Asia, while governments have introduced measures to manage fuel availability and curb consumption. Transport and aviation costs have risen significantly as a result.

On the supply side, global output declined sharply during March, with OPEC production falling to levels not seen since the Gulf War. The drop reflects significant reductions across key Middle Eastern producers. US production has also edged lower, though more gradually.

Demand visibility has weakened. While some forecasts still point to moderate growth this year, others now expect consumption to contract under the pressure of higher prices and economic disruption. Early indicators suggest shifting trade flows, with major importers adjusting sourcing strategies in response to supply constraints.

Looking ahead, price expectations remain widely dispersed. The outlook will depend largely on geopolitical developments and the pace at which disrupted supply can return to the market. Until then, volatility is likely to remain a defining feature of the oil sector.

New UK law extends liability for unlicensed rentals to superior landlords

From 1 May 2026, the Renters’ Rights Act 2025 will introduce significant changes to residential property licensing in England and Wales, extending liability beyond immediate landlords to include superior landlords such as freeholders and head lessees.

Under the current framework, penalties for operating an unlicensed property, including houses in multiple occupation, apply primarily to the party in control of the property or the one receiving rent. Enforcement mechanisms such as rent repayment orders can only be made against the immediate landlord.

This position was reinforced by the Rakusen v Jepsen ruling, in which the Supreme Court of the United Kingdom confirmed that superior landlords could not be held liable for such orders. The judgment acknowledged that this limited the effectiveness of enforcement, particularly where intermediary structures were used, but concluded that any extension of liability would require legislative action.

The new Act responds directly to that gap. It introduces criminal liability for any landlord holding a superior interest in a property that requires a licence but is not licensed. This applies regardless of how many intermediate leases exist and irrespective of whether the superior landlord was aware of the breach.

The offence is defined as one of strict liability, meaning that culpability does not depend on intent or knowledge. Liability arises solely from holding the superior interest in the property.

The changes are expected to affect a broad range of owners and investors. These include freeholders who have granted long leases, institutional investors using layered ownership structures, and owners of mixed-use schemes where residential units form part of a wider commercial asset. Even landlords without a direct relationship with residential occupiers may fall within scope if licensing requirements are triggered.

Corporate structures are also covered. Where an offence is committed by a company, directors may face personal liability if the breach occurred with their consent, connivance or as a result of neglect.

Sanctions for non-compliance are substantial. They include unlimited fines, civil penalties of up to £40,000, and rent repayment orders covering up to two years of rent. Local authorities are expected to use these expanded powers actively and may pursue enforcement against parties higher up the ownership chain, particularly where they are better resourced.

The legislation does provide limited statutory defences. A key defence is available where a superior landlord can demonstrate that all reasonably practicable steps were taken to ensure the property was properly licensed. However, relying solely on contractual provisions that restrict use or occupation will not be sufficient.

The introduction of the Act marks a shift in regulatory risk across residential property ownership structures. Landlords with any exposure to residential assets, including those within mixed-use portfolios, are advised to review their positions and ensure appropriate compliance measures are in place ahead of the May 2026 deadline.

Source: CMS

German crime rates decline in 2025, but perception gap remains, DIW analysis shows

Crime rates in Germany declined in 2025, continuing a longer-term downward trend, although public perceptions of safety remain a key economic and social factor, according to analysis by DIW Berlin.

The assessment follows the presentation of the Police Crime Statistics (PKS) 2025 by Interior Minister Alexander Dobrindt.

Anna Bindler, Head of the Crime, Labor, and Inequality Department at DIW Berlin, said: “Police crime statistics show an overall decrease of 5.6 percent in registered offenses compared to 2024 (4.4 percent excluding immigration offenses), and a decrease of 2.3 percent in violent crime. These figures are in line with longer-term trends: Crime rates – adjusted for immigration offenses – have been trending downward since the 1990s.”

Economic impact extends beyond recorded crime

The analysis highlights that crime has broader economic implications, including costs related to policing, the judicial system and financial losses borne by society.

Bindler said: “Crime is costly: It burdens the state, among other things, through police and judicial costs, and causes considerable (including financial) damage to society.”

She added that both actual crime levels and public perceptions of safety influence economic behaviour: “In addition to recorded crime, perceptions of crime are socially and economically relevant.”

Research based on the Socio-Economic Panel (SOEP) indicates that concerns about crime can increase even when recorded crime is falling. These perceptions can affect mobility decisions and labour market participation.

Further evidence comes from the Dark Figure Study on Security and Crime in Germany (SKiD) 2024, which suggests that unreported crime and subjective experiences remain an important part of the overall picture.

Prevention and policy seen as key

International studies estimate that the total economic cost of crime, including material damage, impacts on victims and behavioural changes driven by fear, can reach up to 10 percent of gross domestic product.

Bindler said this underlines the need for preventive policies and evidence-based approaches: “From an economic perspective, this includes sound economic and social policies to proactively address the socio-economic factors for crime identified in research, as well as objective reporting and responsible political rhetoric to avoid triggering unnecessary fears.”

Statistics require cautious interpretation

The report also stresses that Police Crime Statistics should be interpreted carefully, as they reflect reported and recorded cases rather than the full extent of criminal activity.

Factors such as reporting behaviour and policing priorities can influence the data. As a result, the PKS provides an approximation of crime trends and should be analysed alongside victimisation and dark field studies, including SKiD and LeSuBiA, to give a more complete picture.

Source: DIW Berlin

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