Intermarché opens new distribution centre at Panattoni Park Sosnowiec IV

Intermarché, part of the Muszkieterowie Group, has opened a new distribution centre in the Silesian Voivodeship. The facility, developed by Panattoni, is located within Panattoni Park Sosnowiec IV and marks the retailer’s relocation from its previous warehouse in Mysłowice. The move expands Intermarché’s logistics capacity by more than 6,000 square metres, with the company now occupying 33,600 sqm at the new site.

The official opening on June 10, 2025, was attended by senior representatives from the Muszkieterowie Group and Intermarché Poland, along with local authorities, including the Mayor of Sosnowiec, and representatives from the development and investment teams.

According to Intermarché Poland President Adrian Podziemski, the facility will improve distribution efficiency and enhance the handling of fresh and frozen goods. He also noted the importance of energy efficiency, which aligns with the group’s sustainability goals.

The warehouse includes a dedicated cold storage zone of 9,500 sqm, with a 2,000 sqm freezer area. Energy-saving features include LED lighting with automated DALI control systems, heat recovery ventilation, and a 1,100 kWp rooftop photovoltaic installation. Office areas were designed to ensure thermal and acoustic comfort, natural lighting, and good air quality. Facilities for employees include electric vehicle charging stations and a covered bicycle shelter.

Panattoni Park Sosnowiec IV has a total floor area of 62,800 sqm across two buildings. The site is situated near National Road 94 and three kilometres from the S1 expressway. Developed on a former industrial brownfield site, the area previously housed the “Ignacy” mine shaft, the “Silma” electric motor plant, and the Expo Silesia exhibition centre. The project represents a major revitalization effort aimed at transforming former industrial land into a modern logistics hub.

The complex is expected to receive BREEAM certification at the “Excellent” level. Environmental measures include reinforced rooftops for photovoltaic panels, lifecycle carbon footprint analysis, use of certified wood materials, and compliance with sustainable building product standards. As part of the site landscaping, 275 mature trees were planted, along with a wildflower meadow, insect habitats, and preserved forest sections, contributing to the site’s biodiversity.

Technology and sustainability reshape Poland’s premium real estate market

In Poland’s premium real estate sector, location remains a key factor, but technological integration and sustainable features are becoming increasingly important. According to Tomasz Kozioł of Marshall Real Estate, technology now acts as a new pillar of property value, especially in high-demand tourist areas where luxury apartments can reach prices of up to PLN 40,000 per square metre, as seen in Kościelisko.

Demand for premium properties continues to rise, with buyers increasingly viewing such acquisitions as part of broader investment strategies rather than solely for personal use. Kozioł notes that the appeal lies not only in scenic locations—such as coastal areas, lakes with private marinas, or mountain views—but also in the overall development plan, including access to private amenities like spas, swimming pools, and well-designed infrastructure that supports both residential use and rental potential.

Properties in holiday destinations have shown resilience to broader market fluctuations. Recent data from Morizon-Gratka Group reveals that average prices in these areas hover around PLN 21,000 per square metre, with Jastarnia exceeding PLN 24,000. Marshall Real Estate has recorded prices as high as PLN 40,000 per square metre in select locations, while the most expensive single apartment sale reached PLN 3.8 million on Sobieszewska Island near the Baltic Sea.

The 2024 report by Poland Sotheby’s International Realty indicates that 78% of luxury buyers now seek homes that combine high-end living with proximity to nature and opportunities for outdoor activities. This reflects a growing trend toward “sustainable luxury,” where environmentally conscious solutions—such as energy efficiency and smart home systems—are increasingly influencing purchasing decisions.

Kozioł explains that future homes are expected to function as integrated ecosystems, rather than collections of individual high-tech features. This shift requires developers to design properties with flexible infrastructure capable of adapting to future technologies. Long-term system compatibility is essential to meet evolving expectations in the premium market.

Institutional investors are also paying closer attention to this segment. Kozioł predicts a significant increase in capital inflow over the next three years, driven by growing interest in sustainable and technologically advanced developments.

Marshall Real Estate, established in 2020 by Tomasz Kozioł and Karol Szumański, focuses on premium properties in Poland’s resort destinations. The company has facilitated transactions worth over PLN 430 million and maintains a network of more than 450 regular clients, working with over 25 developers. Its approach combines investment expertise with a strategic focus on premium market opportunities. According to EY forecasts, the value of the premium real estate segment in Polish holiday resorts could increase by 35–40% by 2028.

Adagio acoustic ceilings combine light reflection, sound control, and sustainability

Knauf Ceiling Solutions has introduced the Adagio series of acoustic ceiling panels, designed to meet both lighting and acoustic requirements in modern buildings. These ceilings reflect up to 90% of light, enhancing natural illumination during winter months, while their low gloss surface reduces glare in summer, helping to create a more comfortable indoor environment throughout the year.

Adagio panels are used in various contemporary buildings with large glass facades, such as offices, hotels, and cultural institutions. The white surface of the ceilings contributes to energy savings by limiting the need for artificial lighting, which, according to the manufacturer, can reduce lighting costs by around 16%.

The panels also feature a scratch-resistant, washable surface that supports long-term use. Their design allows for both concealed and visible installations, offering flexibility for architects to integrate them into different interior styles. While the panels maintain a clean, neutral appearance, they can be paired with bolder flooring choices or contrasting elements for added visual interest.

From a sustainability perspective, Adagio panels are made with approximately 60% recycled materials and are fully recyclable. They are certified by environmental and indoor air quality standards, including Cradle to Cradle, Blue Angel, Indoor Air Comfort Gold, and A+ VOC classification.

In addition to light management, Adagio panels are engineered for acoustic performance. With sound absorption coefficients reaching αw = 1.00 and enhanced insulation, the panels contribute to reduced noise levels between rooms, helping to maintain a quiet indoor environment.

Knauf Ceiling Solutions positions the Adagio range as a product that addresses multiple design challenges, offering both functional and environmental benefits for a wide range of interior spaces.

Nhood Services Poland advances leasing strategy for Wilanów Park development

Nhood Services Poland is progressing with the commercialisation of Wilanów Park, a planned mixed-use development in Warsaw’s Wilanów district. The company’s leasing team is actively building a portfolio of tenants and engaging with international and domestic brands at key industry events. The strategy is being developed in collaboration with Nhood’s European experts.

Wilanów Park is designed as an open, multifunctional space, integrating retail, services, dining, and entertainment within a setting that includes a two-hectare city park. According to Marcin Matysiak, Commercial Director at Nhood Services Poland, the goal is to curate a diverse offering that includes both well-established and new-to-market brands. The focus is also on leisure tenants that cater to various customer groups.

The project includes a shopping centre of more than 52,000 sqm with around 140 retail units. The layout will accommodate shops from various sectors, a multi-screen cinema, and food and beverage services. For several months, the Nhood Services Poland team has been working to tailor the retail mix to the needs of the local community and the broader catchment area. Senior Leasing Manager Hubert Oleksiak, responsible for Wilanów Park, noted that the company is in discussions with both familiar and new market entrants.

The commercialisation plan envisions the ground floor housing boutiques offering perfumes, cosmetics, jewellery, lingerie, and electronics, along with the lower floors of multi-level fashion retailers. The upper levels will feature a mix of premium fashion, sportswear, and stores specialising in electronics and household goods.

Wilanów Park is being developed in line with the 15-minute city concept, which aims to concentrate essential services within short distances for residents. A new Auchan grocery concept will be part of the retail offering. The dining component will be structured across two levels and will also include standalone restaurant spaces. A significant portion of the food and beverage offer will be located in the Orangery, a structure that connects the shopping centre with the park and allows for outdoor seating.

The leasing team is drawing on international experience gained through Nhood’s involvement in projects such as Vialia Vigo in Spain and Merlata Bloom Milano in Italy. These collaborations are contributing to ongoing negotiations with prospective tenants for Wilanów Park.

Nhood Services Poland is continuing its outreach at industry events, with the upcoming Shopping Center Forum 2025 Fall in Warsaw, scheduled for 24–25 September, serving as the next opportunity for discussions with potential partners.

The Wilanów Park project is being delivered by a joint venture between Ceetrus, Apsys, and Nhood, with the aim of developing sustainable projects that benefit a broad range of stakeholders including local communities, tenants, public authorities, and NGOs.

Union Investment announces changes to real estate management teams

Union Investment is restructuring the leadership teams of its two real estate subsidiaries: Union Investment Real Estate GmbH, which oversees the company’s retail property fund business, and Union Investment Institutional Property GmbH, which manages its institutional real estate operations.

Effective 1 July 2025, Karim Esch will join the Management Board of Union Investment Real Estate GmbH, taking over responsibility for investment management. Esch succeeds Martin Brühl, who departed the company in April at his own request. Esch, currently a managing director at Union Investment Institutional Property GmbH, brings extensive experience in institutional fund management and real estate transactions. Prior to joining Union Investment in 2011, he held various roles at Commerzbank, Commerz Grundbesitz-Spezialfondsgesellschaft, and Commerz Real.

On the same date, Kirsten Ludwig will be appointed to the Management Board of Union Investment Institutional Property GmbH. She will assume Esch’s former responsibilities, overseeing institutional fund management for both open-ended and closed-ended real estate funds, including Service KVG mandates and real estate funds of funds.

André Haagmann, Chairman of the Supervisory Boards of both real estate subsidiaries, emphasised the importance of stability and continuity in the current market environment. He noted that both appointments were made internally, reflecting Union Investment’s commitment to promoting experienced managers from within the organisation.

With these changes, the management structure at Union Investment Real Estate GmbH will include Dr. Michael Bütter as Chairman of the Management Board, responsible for strategy, legal affairs, communication, and fund management. Gerald Kremer will continue to oversee operations, controlling, and data analytics, while Henrike Waldburg will remain responsible for asset and project management. Volker Noack retains responsibility for fund support, shared fund services, risk management, equity interest management, and compliance.

At Union Investment Institutional Property GmbH, Ludwig will join a management team that includes Wolfgang Kessler, who manages institutional fund lending business, and Dr. Maximilian Brauers, who oversees sales. Ludwig, a long-time Union Investment employee, previously led the Mandate Management Third-Party Business group and has been with the company since 2009.

The reorganisation is aimed at strengthening integration between investment and fund management within Union Investment’s real estate operations and maintaining consistency in leadership across both business segments.

U.S. office REITs lead real estate sector gains in early June

The U.S. office real estate investment trust (REIT) sector recorded the strongest performance among real estate segments during the first week of June. The Dow Jones U.S. Office REIT Index rose by 5.80%, marking the highest weekly gain across all tracked real estate sectors.

Industrial REITs also posted gains, increasing by 0.80%, while healthcare REITs saw a marginal uptick of 0.03%. In contrast, apartment REITs declined by 2.01%, and both retail and hotel REITs experienced slight decreases of 0.32% and 0.14%, respectively.

Broadly, the U.S. equity REIT market saw modest overall growth. The Dow Jones Equity All REIT Index rose by 0.22%, and the MSCI U.S. REIT Index (RMZ) gained 0.40%. These increases were more subdued compared to broader stock market benchmarks. The S&P 500 climbed 1.50%, while the Dow Jones Industrial Average advanced 1.17% over the same period.

Office REITs dominated the list of top-performing real estate stocks with market capitalizations above $200 million. Hudson Pacific Properties Inc. recorded the largest gain, with its share price rising 26.34% during the week. SL Green Realty Corp. and BXP Inc. followed with increases of 13.37% and 10.08%, respectively. Empire State Realty Trust Inc. and Kilroy Realty Corp. also posted strong results, up 9.66% and 8.45%.

On the downside, Mid-America Apartment Communities Inc., a multifamily REIT, experienced the largest weekly decline, with its share price falling 4.32%. American Homes 4 Rent and SBA Communications Corp. also saw losses, with declines of 3.09% and 2.68%, respectively.

The performance gap between office and residential REITs highlights ongoing sector-specific dynamics, as investor sentiment continues to shift in response to macroeconomic trends and evolving market conditions.

Source: S&P Global

Poland faces significant shortfall in gambling tax revenue amid regulatory challenges

Poland is experiencing a growing shortfall in gambling tax revenues due to continued dominance of unlicensed online casino platforms. Despite implementing a state-run monopoly in 2017 through the launch of Total Casino, the government has been unable to control a large portion of the market. In 2023, the country lost over PLN 0.5 billion in potential gambling tax revenue, as offshore operators, often based in jurisdictions like Malta or Curaçao, continued to attract Polish users.

The state monopoly was introduced as part of a broader strategy to combat gambling addiction and reduce the size of the unregulated market. However, instead of increasing state oversight, the approach has led to a parallel, unregulated system where over 40% of online casino activity continues outside the legal framework. These offshore platforms operate without adhering to Polish legal, tax, or consumer protection obligations and remain accessible to local users, often without their full understanding of the legal risks involved.

Since Total Casino began operations, the share of illegal operators in the market has remained high. Users are frequently directed to these sites through online advertisements, misleading content, and search engine-optimized materials that present unlicensed services as legitimate. Many players are unaware that using such platforms violates Polish law. As a result, those affected by fraud or unfair practices are often hesitant to report their experiences due to concerns over possible legal consequences.

The state’s attempt to control the online gambling market through exclusive operation has proved ineffective. Total Casino faces competition from offshore entities not subject to Poland’s tax or regulatory framework, including restrictions on advertising and operational costs. Estimates suggest that 83% of users continue to engage with unlicensed platforms, despite legal alternatives.

The scale of the issue has widened in recent years. Since 2018, the tax gap in the gambling sector has grown by more than 50%. Experts argue that the problem lies not with the existence of online gambling itself, but with the current regulatory model, which positions the state as a market participant rather than an independent regulator.

According to Piotr Palutkiewicz, Vice-President of the Warsaw Enterprise Institute, Poland could reduce the scale of the grey market and increase tax revenues by adopting a licensing model. “Most EU countries regulate online casinos through licensing systems, and Poland has already implemented such a framework for sports betting,” he noted. “A similar approach to online casinos could reduce the grey market to around 16%, increase annual tax revenues by over PLN 370 million, and generate new legal employment opportunities.”

Such a licensing-based model would also impose higher compliance requirements on operators, including obligations for anti-money laundering measures, responsible gambling tools, and data protection. Experts suggest that reform is necessary to establish a more effective regulatory environment—one that balances consumer safety, legal clarity, and fiscal responsibility.

Source: WEI

Slovakia’s housing prices surge amid market shift and demographic pressures

The Slovak real estate market is showing renewed signs of activity, with property prices increasing significantly in early 2025. According to the Statistical Office of the Slovak Republic, real estate prices in the first quarter rose by 13% year-on-year—the first double-digit increase since the third quarter of 2022.

This upward trend reflects growing demand in the housing market, supported by a gradual reduction in mortgage interest rates and a strong labor market, according to Matej Horňák, an analyst at Slovenská Sporiteľňa. However, he also highlights that the market is constrained by a limited housing supply, which continues to lag behind the country’s needs.

New properties recorded a 10% year-on-year increase, while prices for existing homes rose by 14%. Regionally, the most significant jump occurred in the Bratislava region, where prices climbed 27% compared to the previous year. Other regions, including Nitra, Košice, Žilina, and Prešov, also reported double-digit growth rates.

A contributing factor to the recent acceleration in housing prices is the recovery in mortgage lending. In April 2025, newly issued mortgage loans exceeded €680 million, the highest monthly volume since 2022. The average interest rate on new mortgages has dropped to 3.7%, down by 0.8 percentage points from its peak in the previous year. These developments are providing additional momentum to the housing market.

However, the supply side remains weak. Building activity is slowing, with a 15% year-on-year decline in housing starts and a 16% drop in the number of completed dwellings in the final quarter of 2024. As a result, new supply is not keeping pace with growing demand.

Horňák points out that Slovakia also faces structural challenges. With an average household size of 3.1 people—well above the EU average of 2.3—there is a clear need for more, and more affordable, housing. The current combination of strong demand, a favorable labor market, lower borrowing costs, and limited supply continues to push prices upward.

At the same time, the gap between housing prices and household incomes is widening again, which could act as a moderating force on future price increases. Horňák cautions that despite the current growth phase, the market will eventually face structural changes linked to Slovakia’s shifting demographics.

In the long term, population decline and ageing are expected to reshape housing demand. Changes in preferences related to space, accessibility, and amenities will affect both the type and quantity of housing required. “Over time, these demographic shifts may ease pressure on the market,” Horňák concluded.

Source: SITA

Cresco expands in central Košice with new property acquisition and development plans

A building located in the center of Košice has been sold, further signaling significant redevelopment plans for the area around the city’s main square. The project is linked to the broader transformation underway along Hlavná ulica and Južná trieda, where extensive residential construction is being planned.

The development, which includes the construction of over 1,100 apartments, has raised concerns among residents of nearby Palárikova and Ludmanská streets. Local opposition has included a petition submitted to the city council, involvement of the prosecutor’s office, and public protests, where residents expressed worries over the project’s growing scale.

The fenced land behind the local bus stops is owned by Košice Project Development, a Bratislava-based company whose managing directors are Ján Krnáč and Štefan Beleš, with corporate ties to entities in Cyprus. The developer behind the project is Cresco Real Estate, which has already completed projects in Košice, including the Mlynská Bašta residential complex.

The planned construction is currently based on a 2010 building permit originally granted for a hotel with 167 rooms. Cresco is now seeking to modify the permit to reflect changes in the project. Construction is expected to begin in 2026, with completion scheduled for 2028.

In April, it was revealed that a connected company, South City Development, acquired an adjacent 2,016-square-meter plot from the Social Insurance Agency. The state institution classified the land—located just beyond the protected historic zone—as surplus and sold it for €1.4 million. The site was once the location of a never-finished congress center.

Both South City Development and Cresco Real Estate share common ownership links through entrepreneurs Štefan Beleš and Ján Krnáč. Beleš is listed as the ultimate beneficial owner of both companies, while Krnáč serves in executive roles at each.

Cresco Real Estate stated it will publicly communicate its plans for the newly acquired plot once the project is clearly defined and ready to enter the permitting phase.

Source: SME

Eva Decroix appointed as Czech Minister of Justice following bitcoin donation controversy

Eva Decroix, Vice-President of the Civic Democratic Party (ODS), is set to become the new Minister of Justice today, replacing Pavel Blažek, who resigned following controversy surrounding a donation of bitcoins to the ministry. President Petr Pavel will formally appoint Decroix, and Prime Minister Petr Fiala, who also leads the ODS, will participate in the ceremony. The Czech News Agency will provide a live broadcast of the appointment from 12:10 p.m.

Although the Cabinet has seen several personnel changes over the past three and a half years, this marks the first ministerial replacement for the ODS during the current term.

On Monday, President Pavel met with Decroix for approximately 30 minutes. They discussed the bitcoin donation, worth roughly one billion crowns, which was accepted by the Ministry of Justice. The donation originated from Tomáš Jiřikovský, who was sentenced in 2017 for crimes including embezzlement, drug trafficking, and illegal arms trading. Blažek had defended the ministry’s acceptance of the bitcoins, stating that the transaction was not illegal and that it had not been proven the funds came from criminal activity. He also rejected claims that the donation amounted to money laundering.

Decroix has announced plans to commission an independent audit of the ministry’s procedures and regulatory framework. An external firm will conduct the review, with results expected to be made public by the end of August, ahead of the parliamentary elections. She also plans to present a detailed timeline of the case to the government and will propose the formation of an expert group to identify systemic measures for handling new technologies and cryptocurrencies. Additionally, Decroix intends to appoint an independent coordinator from the judiciary to ensure transparent communication about the matter.

Source: CTK
Photo: ODS

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