HIH Projektentwicklung starts conversion of Hanover Hanomag site into school

HIH Projektentwicklung has begun the conversion of two existing buildings on the Hanomag site in Hanover-Linden into an integrated comprehensive school. Construction works commenced in November 2025 following the granting of planning permission, with completion targeted for June 2027.

The project, located on Göttinger Straße, involves the redevelopment of a former Telekom call centre and will deliver approximately 10,700 sqm of school space. Once operational, the facility is expected to accommodate between 700 and 800 pupils across four classes per year group. The school will serve as interim capacity for the City of Hanover while other educational facilities undergo refurbishment.

An adjacent administration building, originally completed in 2013 and extending to around 5,600 sqm, has already been repurposed. Since early 2026, it has housed the city’s consolidated Schools Department.

The municipality has secured a long-term lease on both buildings. In addition to internal reconfiguration works to meet educational requirements, the scheme includes the transformation of an existing car park into outdoor school space.

LIST BiB, part of LIST Bau Bielefeld, has been appointed as the main contractor, with Team Kaufmann responsible for building services planning. Architectural design is being handled by Hanover-based architekten sks.

The scheme represents HIH Projektentwicklung’s second office-to-school conversion and forms part of its broader strategy to reposition existing assets for alternative uses, including educational infrastructure, in cooperation with institutional investors.

International Monetary Fund warns conflict-related energy shock may slow global growth

A report by economists at the International Monetary Fund (IMF) indicates that the recent conflict involving Iran is adding pressure to the global economic outlook, particularly for countries already recovering from earlier disruptions. The analysis describes the situation as a global but uneven shock, with differing impacts depending on countries’ economic structures, exposure to energy imports and available financial buffers.

The IMF notes that the most immediate effects are being transmitted through energy markets. Disruptions linked to the closure of the Strait of Hormuz and damage to regional infrastructure have affected global supply, contributing to a sharp increase in oil prices in March. The Strait typically handles around 25 to 30 percent of global oil flows and about 20 percent of liquefied natural gas, making it a critical route for global energy trade. According to the IMF, this represents one of the most significant disruptions to oil markets in recent decades.

The impact is uneven across regions. Energy-importing economies in Europe and Asia are facing higher fuel and production costs, while some countries in Africa and Asia are encountering difficulties securing supplies even at elevated prices. In contrast, certain energy-exporting economies may benefit from higher prices, although gains depend on their ability to maintain export volumes.

Beyond energy, the conflict is also affecting global supply chains. Rerouting of shipping traffic has increased transport and insurance costs and extended delivery times. Disruptions to the trade of key inputs, including fertilisers and industrial materials, are adding further pressure. Around one-third of global fertiliser shipments typically pass through the Strait of Hormuz, and interruptions to these flows are raising concerns about agricultural production and food prices, particularly as the planting season begins in parts of the Northern Hemisphere.

The IMF highlights that low-income countries are particularly exposed to these developments. Higher food and fertiliser costs risk reducing access to basic goods, while tighter financial conditions and declining levels of international assistance may limit their ability to respond. In these economies, food accounts for a significantly larger share of household spending, increasing vulnerability to price increases.

The report also points to inflation as a key transmission channel. Sustained increases in energy and food prices are likely to push consumer prices higher globally. Historically, prolonged periods of elevated oil prices have been associated with higher inflation and slower economic growth. The IMF warns that this could also affect inflation expectations, potentially feeding into wage and price-setting behaviour and making it more difficult for policymakers to stabilise prices without slowing economic activity.

Financial markets have also reacted to the conflict. According to the IMF, global equity prices have declined, bond yields have risen and market volatility has increased, contributing to tighter financial conditions. These effects are more pronounced in emerging markets and lower-income economies, where higher borrowing costs and weaker currencies may increase debt burdens and complicate refinancing.

The IMF emphasises that the overall economic impact will depend on the duration and scale of the conflict, as well as the extent of disruption to infrastructure and supply chains. A shorter conflict could lead to temporary price spikes, while a prolonged period of instability may keep energy prices elevated and sustain pressure on inflation and growth.

The institution has called on governments to adopt targeted and country-specific policy responses, particularly in economies with limited fiscal space or foreign exchange reserves. It also stated that it stands ready to provide policy advice, capacity support and financial assistance where needed, in coordination with international partners.

Source: IMF

MLP Group fully leases MLP Wrocław park

iLogic has leased approximately 3,400 sqm of space at the MLP Wrocław logistics centre, bringing the park to full occupancy. The tenant was advised during the transaction by BNP Paribas Real Estate Poland.

Under the agreement, around 3,100 sqm will be used for warehouse operations and 300 sqm for office and staff areas. The company is expected to take full access to the space at the beginning of 2027.

iLogic, based in Wrocław, has operated since 2019 as a distributor of tools and equipment, including products from the Delphi Tools brand, with a focus on online sales.

Agnieszka Góźdź, Member of the Management Board and Chief Development Officer at MLP Group, said: “The highly attractive offering of our logistics parks means that tenant interest remains exceptionally strong. In practice, this means that any vacated space is very quickly taken up by a new user. MLP Wrocław is the best example of this, as the facility has once again been fully leased in a short period of time.”

Bartosz Wilczyński, Senior Consultant, Industrial and Logistics Agency at BNP Paribas Real Estate Poland, added: “One of the key selection criteria was the precisely defined location in Wrocław, indicated by the tenant at an early stage of the process. Despite the more limited availability of modern warehouse space in this area, a facility meeting the company’s operational requirements was secured. An important element of the transaction was also the developer’s flexible approach — both in terms of commercial conditions and the ability to tailor the office and social space to the tenant’s individual needs. The selected space provides iLogic with operational comfort and appropriate conditions for further business development, which was also an important factor in choosing this location.”

MLP Wrocław comprises approximately 66,000 sqm of warehouse space across five buildings, located in the north-eastern part of the city in the Psie Pole district. The park is situated около 14 km from the city centre, with access to the E67 national road and the S8 expressway, providing connections to Warsaw and other regions of Poland.

Etem Gestamp and Rezolv Energy sign cross-border wind power agreement

Etem Gestamp and Rezolv Energy have signed a 10-year virtual power purchase agreement (VPPA) covering electricity from the VIFOR wind project in Romania. The agreement will see the Sofia-based manufacturer procure power for its operations in Bulgaria from the 461 MW wind farm located in Buzău County, which is approaching commissioning.

The transaction represents the first publicly announced cross-border wind PPA involving Bulgaria. It is also Rezolv Energy’s first agreement of 2026 and the third PPA signed by Etem Gestamp.

Under the agreement, electricity generated at the VIFOR project will contribute to reducing the environmental footprint of Etem Gestamp’s industrial operations. The company previously entered into a 10-year agreement in 2022 to purchase the full output of a solar plant in Bulgaria. The addition of wind generation is intended to complement this supply and support a more balanced energy consumption profile.

The company stated that the agreement supports its broader transition in manufacturing, including increased electrification, improved energy efficiency and greater use of renewable energy sources. It expects that renewable energy could account for around 70 percent of its energy mix by 2027.

The partnership is also intended to contribute to emission reductions across the automotive supply chain, where both companies are active.

For Rezolv Energy, the agreement is its seventh PPA across Romania and Bulgaria and its second with an automotive-related company. In 2024, it signed a 10-year VPPA with Bekaert for approximately 100 GWh of electricity per year from the same wind project. The company has also concluded agreements with T-Mobile Czech Republic, Slovak Telekom and Ardagh Glass Packaging-Europe.

Fewer vacancies reported to job centres despite mixed labour market signals

The Labour Market Indicator, which signals potential changes in unemployment, declined by nearly one percentage point in March, reversing a sharp increase recorded in February. In that month, the registered unemployment rate rose by 0.1 percentage points compared with January and stood 0.7 percentage points higher than a year earlier.

These figures are influenced by regulatory changes introduced in June last year, when new legislation governing public employment services came into force. As a result, comparisons over time remain limited. At the same time, cyclical factors, including weaker labour demand reported by businesses, continue to affect the data, alongside the impact of institutional changes.

Only a portion of job vacancies created in the economy are reported to employment offices. The share of such vacancies increased steadily from around 2013, reaching a peak in 2017, before declining in subsequent years. One measure of this trend is the ratio of registered vacancies to newly registered unemployed individuals. This stood at 0.35 in November 2013, rose to 1.23 in November 2017, fell to 0.70 in November 2024 and declined further to 0.30 in November 2025. This indicates that, in recent periods, there have been fewer vacancies available per newly registered jobseeker than in earlier years.

A notable drop in vacancies reported to job centres has been observed since June 2025, when the ePraca system replaced the previous CBOP platform. Since then, the monthly inflow of vacancies has averaged around 40 percent of the levels recorded in the same months of the previous year. While this may reflect reduced employer demand, the system change also limits comparability and suggests that some recruitment activity may be shifting to alternative channels.

In February 2026, the number of vacancies submitted to labour offices increased by 20 percent month-on-month, although the total remained relatively low at around 25,000 nationwide. Data from the Job Vacancy Barometer, which tracks online job advertisements, showed a modest increase in February following four consecutive months of decline. However, vacancy levels remain below those recorded a year earlier.

Taken together, these indicators suggest that labour demand has weakened, although the decline appears less pronounced when measured through online job postings than through employment office data. The discrepancy reflects structural changes in recruitment practices, including the growing use of specialised job platforms and direct hiring methods, as well as instances where positions are filled without formal advertisements.

Survey data from Poland’s statistics office indicate subdued employer sentiment. Assessments of the overall situation in the industrial sector have deteriorated slightly on a monthly basis, while employment outlook indicators remain negative and close to their lowest levels in recent years.

The legislative changes introduced in mid-2025 were intended to expand access to jobcentre registration, support labour market activation and adjust certain administrative measures. While these reforms may influence unemployment figures through higher registration levels and slower outflows, recent data show limited short-term impact. In February 2026, the inflow of newly registered unemployed individuals was 3.5 percent lower than in January and around 3 percent below the level recorded a year earlier.

At the same time, the number of people leaving unemployment due to taking up work increased by 15 percent month-on-month in February, reaching a level comparable to that of February 2025. Over the period from June 2025 to February 2026, however, the average monthly outflow into employment remained broadly unchanged compared with the previous year, while new registrations were stable overall and slightly lower on an annual basis. This suggests that, so far, the new regulatory framework has not significantly altered participation in public employment services.

Source: BIEC

NEPI Rockcastle nominates Zelda Roscherr to Board, André van der Veer to step down

NEPI Rockcastle has nominated Zelda Roscherr for election as an Independent Non-Executive Director at its Annual General Meeting scheduled for May 2026. The company also confirmed that André van der Veer, currently an Independent Non-Executive Director, will retire at the conclusion of the meeting and will not seek re-election.

George Aase, Chairman of NEPI Rockcastle, said: “Zelda brings extensive hands-on banking and markets experience, as well as serving in advisory and high-level governance roles in the financial sector, combined with significant understanding of NEPI Rockcastle’s operations. Real estate is a capital intensive and long-term business which requires this type of deep expertise, and we look forward to welcoming Zelda to the Board following the shareholder election process. The Board and I would also like to express our sincere appreciation to André for his years of distinguished service and for the significant contribution he has made to NEPI Rockcastle’s strategic development, governance, and long-term success.”

Roscherr has more than 30 years of experience in financial services across executive, advisory and board roles. She currently serves as an independent non-executive director at FirstRand, where she chairs the Risk and Capital Management Committee and is a member of the Audit and Compliance Committee. Her background includes senior roles in global markets and treasury, as well as experience in governance, strategy and risk management. She holds an MSc in Global Finance from Bayes Business School and academic degrees in mathematics, econometrics and statistics from the University of Johannesburg.

Van der Veer joined the Board of NEPI Rockcastle in May 2017 and has chaired its Investment Committee since 2020. He also previously served on the board of Rockcastle Global Real Estate Company Limited prior to its merger with New Europe Property Investments plc in 2017.

During his tenure, the company carried out a programme of portfolio adjustments and transactions, including more than €1.5 billion in acquisitions and disposals. This included the sale of its Romanian office portfolio, an exit from the Serbian market, and investments in retail assets such as Forum Gdańsk, Copernicus Shopping Centre, Magnolia Park and Silesia City Center, as well as the completion of Promenada Craiova in Romania.

Blue City Adds Self-Storage Facility and Flexible Space Concept in Warsaw

Blue City has expanded its service offering with the opening of a self-storage facility operated by Schowek24, alongside the launch of a new flexible space concept.

The new Schowek24 unit occupies nearly 800 sqm and is located on level -1 of the centre, with direct access to the car park. The facility offers storage units of varying sizes and is accessible at all times, with booking and management handled online. The service is available to both individual customers and businesses.

Blue City has been broadening its mix of services in recent years, aiming to combine retail with everyday functions such as healthcare, personal services and banking. The addition of self-storage reflects demand from residents in nearby districts, where access to storage space is limited.

“We constantly monitor our customers’ needs. What is a major challenge today for most Warsaw residents living in blocks of flats? Of course, space to store various items. That is why, together with the renowned brand Schowek24, we have launched a self-storage facility. Such spaces are usually built on the outskirts of cities. You don’t need to make a special trip to us to store your skis or winter clothes. Now you can sort it out during a visit to the city centre,” said Anna Gut, Leasing Director at Blue City.

According to Schowek24, the location aligns with its strategy of developing storage facilities in central or well-connected urban areas.

“Blue City is a perfect example of the urban location we are looking for: superbly situated and well-connected, and naturally integrated into residents’ daily routines. The centre is surrounded by densely built-up residential areas, offers convenient access, private parking, and ensures the comfort and security that come with being located in a well-known shopping centre. For us, a storage service should be simple, convenient and intuitive in everyday use, and this location reflects exactly that. This is exactly what modern storage should look like,” said Peter Iliev, co-CEO of Schowek24.

In parallel, the centre is introducing a concept called “Space for Action”, which offers flexible units starting from 300 sqm. These spaces are intended for a range of uses, including educational, fitness and small-scale business activities, as well as office or logistics functions.

The initiative is aimed at attracting local operators and providing additional services within the centre, while allowing existing tenants to expand their activities.

Panattoni Fully Lets Completed Phases of Poznań XIV Park with 4M Pro&Invest Lease

Panattoni has signed a lease agreement with 4M Pro&Invest at Panattoni Park Poznań XIV, completing the leasing of the project’s two completed phases.

The tenant has taken nearly 4,100 sqm of warehouse space, along with around 190 sqm of office and support areas. The agreement brings the existing space in the development to full occupancy.

4M Pro&Invest operates in the e-commerce sector, focusing on the sale of tyres, wheels and automotive accessories. The company plans to consolidate its warehousing operations at the new location and is preparing to launch an online platform.

“We have had ties to the Greater Poland region since the very beginning, so it was a natural step to look for premises to expand our business in this region. Panattoni Park Poznań XIV fully meets our expectations – modern infrastructure – this will be our first warehouse in a Class A building, with a 10-metre ceiling height compliant with fire safety requirements for tyre storage, and a convenient location enabling efficient order fulfilment. Our partnership with Panattoni will allow us to consolidate our warehousing processes in a single facility and support the company’s further growth,” said Mikołaj Andrzejewski, CEO of 4M Pro&Invest.

The tenant is expected to begin operations in the second quarter of the year. The space will be fitted out to meet operational requirements, including the installation of shelving systems, adjustments to internal layouts and the addition of technical infrastructure.

“The agreement with 4M Pro&Invest marks the full let-up of the recently completed section of Panattoni Park Poznań XIV, which demonstrates that our facilities meet tenants’ actual needs,” said Katarzyna Kujawiak, Regional Managing Director for Central Poland & Greater Poland at Panattoni.

Panattoni Park Poznań XIV is located in Głuchowo, near Poznań, with access to the A2 motorway and the S5 and S11 expressways. The development is planned to include three warehouse buildings with a total area of approximately 49,000 sqm, with further construction phases expected.

The project has received a BREEAM Excellent certification and incorporates energy-efficient systems and environmental features, including space prepared for photovoltaic installations and landscaped areas.

Middle East Tensions Add New Pressure to Europe’s Food Price Outlook

Growing instability in the Middle East is starting to raise concerns about its potential impact on food prices across Europe, with Central and Eastern European markets likely to feel the effects more strongly over time.

While there has been no immediate surge in prices, analysts and industry representatives point to rising costs in energy, transport and agricultural inputs as key factors that could gradually feed into the cost of food. These effects are not expected to appear instantly, but rather with a delay as higher expenses move through supply chains.

One of the main areas of concern is the cost of fuel. Any sustained increase in oil prices affects transportation, production and distribution, which in turn influences the price of goods on store shelves. For food producers and retailers, this creates additional pressure at multiple stages, from sourcing raw materials to final delivery.

Agricultural inputs are another factor under close watch. Fertilisers, which are closely linked to energy markets, could become more expensive if the situation escalates, raising costs for farmers and potentially affecting future harvests. This could lead to further price increases later in the year.

Disruptions to global shipping routes are also contributing to uncertainty. Delays or higher costs in transporting goods, particularly from Asia, may affect the availability and pricing of certain imported products. In some cases, this could lead to temporary shortages or higher prices for specific categories.

The potential impact is particularly relevant for Central and Eastern Europe, where households typically spend a larger share of their income on food compared to Western Europe. As a result, even moderate price increases can have a more noticeable effect on consumers.

Despite these risks, some economists suggest that the overall impact will depend on how long the tensions persist. If commodity markets remain relatively stable, price increases may be limited and gradual rather than immediate.

For now, the situation remains uncertain. However, the conflict is increasingly being viewed as a factor that could interrupt the recent easing of food price growth and introduce renewed cost pressures across European markets.

Falling Birth Rates Across CEE Begin to Weigh on Children’s Goods Market

The ongoing decline in birth rates across Central and Eastern Europe is starting to have a tangible impact on the children’s goods sector, with the Czech Republic among the markets where the effects are becoming increasingly visible.

In recent years, the number of births in the Czech Republic has dropped sharply, reversing the growth seen earlier in the decade. This shift is now feeding through into lower demand for products linked to early childhood, including baby equipment, toys and clothing. Market participants report a noticeable reduction in customer numbers, while some retailers have already scaled back operations or exited the market.

The situation reflects a broader regional trend. Across much of Central and Eastern Europe, birth rates have been declining steadily, driven by a combination of social and economic factors. Delayed family formation, rising housing costs and greater financial uncertainty have all contributed to a sustained drop in the number of new households with young children.

Although several governments in the region have introduced financial incentives aimed at encouraging higher birth rates, these measures have generally produced only temporary results. After short-term increases, the overall trend has continued downward, suggesting deeper structural changes in demographic behaviour.

For businesses, the consequences are long-term. A smaller number of births translates directly into reduced demand across multiple consumer categories, limiting growth potential and altering market dynamics. This is particularly evident in sectors closely tied to early life stages, where demand is highly sensitive to demographic shifts.

At the same time, recent economic pressures have added to the challenge. High inflation in recent years has reduced purchasing power, prompting households to limit spending, especially on non-essential goods. While economic conditions have begun to stabilise, consumer caution remains a factor.

In response, companies are adjusting their strategies, focusing on efficiency, diversifying product ranges or targeting different customer groups. However, expansion opportunities outside domestic markets are also constrained, as similar demographic trends are evident across Europe.

As a result, the children’s goods market in Central and Eastern Europe is entering a period of adjustment, shaped less by short-term economic cycles and more by long-term demographic change.

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