HIH Real Estate hosts construction site visit for Salut Potsdam housing project

HIH Real Estate marked progress on its Salut Potsdam residential development with a construction site event on Thursday. The project, located at Potsdamer Straße/Am Priesteracker in Potsdam-Bornim, is expected to be completed by the end of 2025. Attendees included contractors, project partners, neighbors, and future residents.

The development, which includes 23 residential units, was taken over by HIH Real Estate in January 2024 following the insolvency of the previous developer, PROJECT Immobilien Management GmbH. Construction resumed in July 2024 with INVICTUS Bau- und Projektmanagement GmbH.

The project consists of two semi-detached houses, an apartment building with 16 units, and a three-unit coach house. The apartments vary in size from 63 to 127 square meters and include two- to four-room layouts. As of now, 30 percent of the units have been sold. Marketing is managed by Norddeutsche Immobilien Management GmbH.

“We are delighted that we will be able to complete the residential project on schedule by the end of the year. We took over the project with construction progress at around 18 per cent and resumed construction work in July 2024 together with INVICTUS Bau- und Projektmanagement GmbH. We would like to thank all our partners and contractors for the rapid progress made since then,’ says Olav Janssen, Project Developer at HIH Projektentwicklung GmbH, a subsidiary of HIH Real Estate. ’This project will ensure the completion of new housing on the Potsdam property market, which is characterised by high excess demand. Whether two-room apartments for couples or four rooms for families, Salut Potsdam offers the right living space for every stage of life.”

HIH Projektentwicklung GmbH, a subsidiary of HIH Real Estate, is overseeing development. Project Developer Olav Janssen noted that the company took over construction when the site was approximately 18 percent complete and expressed appreciation for the progress achieved since then. He also emphasized the relevance of the project in helping to meet ongoing housing demand in Potsdam.

On Friday and Saturday, 25 and 26 April, the site will be open to the public from 3 p.m. to 6 p.m. Visitors will be able to take part in guided tours, view the construction progress, and speak with members of the project team.

Photo: Olav Janssen, Project Developer at HIH Projektentwicklung GmbH

Czech industrial market maintains stability in first quarter of 2025

The Czech Republic’s industrial real estate market remained stable in the first quarter of 2025, with the national vacancy rate holding steady at 3.1%, according to data from the Industrial Research Forum. The total stock of modern industrial space reached 12.44 million square meters, and demand continued to be strong, with gross take-up totaling 511,600 square meters.

New construction activity increased, with 243,000 square meters of space started in Q1—marking the highest quarterly volume since the third quarter of 2023. At the end of March, a total of 1.07 million square meters was under active development, a rise of 8% compared to the previous quarter and 20% year-on-year. Around 26% of these projects are located in Prague and Central Bohemia, while the Karlovy Vary region accounts for another 25%.

All newly completed projects—totaling approximately 134,900 square meters—were fully pre-leased. Notable completions included a 57,200 square meter building in Panattoni Park Ostrov – North for ZF, a 29,500 square meter extension of Garbe Park in České Budějovice for NOBO AUTOMOTIVE, and a 27,000 square meter facility in Panattoni Park Ostrov South for WITTE Automotive.

The share of speculative construction fell to 28%, while only 14% of new construction commenced in Q1 was built without signed tenants. An additional 500,000 square meters remains incomplete at the shell-and-core stage, pending future leasing.

Gross take-up rose significantly year-on-year—by 152%—and by 18% compared to the previous quarter. Renegotiated leases made up 62% of the total take-up, including a major 147,600 square meter lease renewal by a 3PL provider in Prologis Park Prague-Jirny. Net take-up, excluding renewals, reached 193,600 square meters, an 11% quarterly decrease but a 36% increase compared to the same period in 2024.

Among new transactions, the largest was a 40,000 square meter pre-lease in Industrial Park Nymburk by Linde Wiemann. Other notable deals included a 17,700 square meter pre-lease by e-commerce company Rohlík CZ in CTPark Brno Líšeň and a 17,200 square meter lease in CTPark Prague East by an undisclosed tenant.

Rental rates remained stable across the country. Prime rents in Prague held at €7.00–7.50 per square meter per month. In other prime regional locations, rents ranged from €5.70 to €6.60. Mezzanine office space commanded rents of €9.50–€12.50, with service charges averaging between €0.75 and €1.00 per square meter per month.

According to James Fitzgerald, Regional Head of Industrial Agency at iO Partners, the Czech market continues to demonstrate resilience and growth potential, supported by solid fundamentals built over the past decade.

Source: The Industrial Research Forum

Galeria Twierdza Kłodzko reaches full leasing ahead of new retail park opening

Galeria Twierdza Kłodzko, managed by EPP, has achieved full commercial occupancy, including the new retail park section currently under development. All available units have been leased several months ahead of the park’s official opening. Among the tenants are all five brands from the LPP Group—Reserved, Sinsay, House, Mohito, and Cropp—which have not only renewed their leases but also expanded their store footprints. Together with a new food tenant, BERLIN DÖNER KEBAP, the newly signed agreements cover more than 3,900 square meters of retail space.

The shopping centre’s recent asset management strategy has focused on expanding its tenant mix and adapting space to better meet customer demand. Tomasz Nowakowski, Asset Manager at EPP, noted that recent lease extensions and debuts by brands like TK Maxx and dm are a reflection of the centre’s appeal for retail operations in the Kłodzko area.

Improvements to existing stores are also underway. House and Mohito will reopen in redesigned spaces from mid-May, offering customers an updated shopping experience. The expansion of the retail park has enabled Reserved and Sinsay to relocate into larger, more modern premises, while the vacated locations will be occupied by new tenants, including a relocated Sinsay store.

LPP Group is adjusting its store layouts and updating designs to better align with customer expectations. The Reserved store will offer an expanded product range in a more spacious environment, while Sinsay continues to grow as a multi-category brand offering clothing, home accessories, and personal care items. Meanwhile, Cropp and House will maintain their focus on fashion for younger customers and self-expression, and Mohito will continue to serve customers seeking more classic, elegant styles.

The retail mix is further enhanced by the introduction of BERLIN DÖNER KEBAP, which will open its first restaurant in the region. It will offer a menu based on German-style recipes, featuring meat and vegetarian options. Additionally, Rossmann’s drugstore will reopen in mid-May with a refreshed store layout.

These changes reflect continued interest in Galeria Twierdza Kłodzko from national and international retailers and reinforce the centre’s role as a key shopping destination in the region.

Edyta Kuczys Appointed Sales Director at Opteamic Group

Opteamic Group, a provider of process outsourcing services for the logistics and manufacturing sectors, has appointed Edyta Kuczys as its new Sales Director. Her appointment is part of the company’s broader efforts to support its national expansion and enhance business development.

Kuczys brings over 18 years of experience in the outsourcing, recruitment, and HR sectors. Her background includes roles in both regional and national leadership, where she was responsible for sales strategy, operational growth, and team management. At Opteamic Group, she will oversee the company’s business development efforts across Poland, leading a team of Business Development Managers and focusing on client relationships and the refinement of internal sales processes.

Prior to joining Opteamic, she held senior roles in a number of recruitment and staffing firms, including EWL, GI Group Poland, Randstad Polska, and Adecco Poland. Her professional background also includes experience in the FMCG and direct sales sectors.

Commenting on the appointment, Opteamic Group President Jakub Kizielewicz said Kuczys brings both experience and a collaborative approach, which are expected to contribute to the company’s continued growth.

Outside of work, Kuczys is a mother of three and has a strong interest in sailing, a pursuit she describes as teaching skills that are transferable to the business world, such as teamwork, resilience, and managing under pressure.

WDP reports strong start to 2025 with continued growth in logistics real estate

WDP has reported strong financial results for the first quarter of 2025, reflecting steady growth in earnings, high occupancy rates, and sustained investor confidence. EPRA earnings reached €80.6 million, marking a 12% increase compared to the same period last year. On a per-share basis, earnings rose by 8% to €0.36. These gains were supported by a mix of new investments, 1.8% organic rental growth, and low receivables costs of 2.3%.

The company’s logistics portfolio maintained a high occupancy rate of 98.1% as of March 31, 2025. New lease agreements totaling 165,000 sqm were signed during the quarter, with 75,000 sqm of fully pre-leased projects completed. WDP also reported a strong development pipeline, with pre-lettings up to 71%, reinforcing its market position as demand for logistics space continues.

WDP’s real estate portfolio experienced a modest revaluation of €11.4 million in the first quarter, an increase of 0.1% from the previous quarter, largely driven by the stability of existing assets. The net yield based on market rents and full occupancy stands at 6.2%.

Key to the company’s growth strategy is the ongoing expansion of its European platform. In Q1 2025, WDP completed transactions worth €320 million—of which 85% were in Western Europe—including €110 million in development projects (with a net operating income yield of 7.4%), €170 million in acquisitions (NOI yield of 6.3%), and €40 million in energy-related investments (target IRR of approximately 8%). The total investment pipeline now stands at €820 million, supporting WDP’s long-term expansion goals.

With a current portfolio valued at over €8 billion, WDP is on track to reach its 2027 strategic target under its #BLEND2027 plan. The goal is to achieve EPRA earnings per share of €1.70 by 2027. This is backed by a solid financial foundation, including €1.4 billion in undrawn credit lines and expected self-financing capacity exceeding €600 million through retained earnings and optional dividends. As of March 2025, WDP’s net debt-to-EBITDA ratio was 7.5x, with a loan-to-value ratio of 40%, aligning with its target of under 8x and below 40% by the end of 2027.

For the full year 2025, WDP has reaffirmed its earnings guidance, expecting EPRA earnings per share to reach €1.53, reflecting a 7% increase from 2024. This forecast is based on the current business environment, which remains influenced by global macroeconomic and geopolitical uncertainties.

In Romania, WDP continues to strengthen its position, managing a portfolio worth €1.5 billion across 80 strategic locations with 1.9 million m² of leasable space. One of the major ongoing projects includes the expansion of WDP Park Bucharest – Dragomirești. This development features two advanced logistics warehouses—one temperature-controlled facility of 47,000 sqm and another ambient warehouse of 11,000 m². Both buildings will be EDGE Advanced certified and leased under 10-year fixed agreements. The investment is estimated at €52 million, with completion expected by the end of 2026. An additional 16,000 sqm of space remains available on the site for future development.

Overall, WDP’s performance in the first quarter of 2025 supports its long-term strategy and positions the company well to capitalize on continued demand in the European logistics sector.

Photo: WDP Bucharest

Poland urged to strengthen financial market to support innovation-driven growth

Poland must enhance the depth of its financial market to support investment in innovation and economic development, according to a recent report from ING Bank Śląski. The study highlights the critical role of financial deepening—defined as diversified and accessible sources of funding—in fostering innovation-based growth, especially for new and emerging businesses.

The report emphasizes that Poland’s current investment levels remain low, limiting the country’s potential for development. A more robust financial ecosystem, which includes a well-functioning stock exchange and greater access to venture capital and private equity, could provide the necessary funding channels to support business growth across various stages.

While traditional financing through banks and capital markets remains important, the report argues that openness to riskier funding—such as venture capital—is essential for innovation. At present, Polish companies predominantly rely on internal funds, with 70% of investments financed from their own resources. Only 11% depend on loans or leasing, and the use of equity or bond issuance is relatively rare.

The report also notes an imbalance in bank portfolios, where government bonds now outweigh loans issued to the private sector. Meanwhile, the Warsaw Stock Exchange (WSE) remains underdeveloped, with a market capitalization of only 25% of GDP—significantly below the EU average. Experts cited in the report suggest that strengthening local capital markets would better serve Europe’s diverse economic needs than relying solely on centralized financial hubs.

Despite a stable regulatory environment, Poland lacks a mature ecosystem for venture capital and private equity. Business leaders interviewed for the report stressed the need to attract foreign investment and to promote Poland as a reliable destination for long-term funding in innovation. They also called for stronger domestic investment vehicles that can support startups and innovative firms.

Grzegorz Brona, President of Creotech Instruments, emphasized the importance of promoting Poland to foreign private funds and ensuring strategic technologies remain under national control. Meanwhile, Tomasz Ciąpała, President of G8, pointed out that many Polish firms are caught in a “middle-growth trap,” needing capital to scale but lacking efficient access to funding.

The report also touched on structural issues, including the dominance of state-owned enterprises on the WSE and the complexity of capital-raising procedures. It recommended reforms to encourage medium-sized and family-owned businesses to list on the stock exchange and to direct more private savings—currently focused on deposits and real estate—into productive investments.

Waldemar Olbryk, President of Archicom, concluded that Poland must evolve beyond past economic models and embrace flexibility, agility, and innovation to build a competitive future. He noted the need to improve the startup ecosystem and better align education with market needs.

The findings are based on interviews with 25 Polish business leaders and executives from foreign chambers of commerce, supported by macroeconomic analysis from ING economists. The report underscores a consensus: while Poland has strong foundations, a more dynamic and inclusive financial market is needed to unlock its full innovation potential.

Source: ISBnews

Authorities warn of ongoing fraud schemes targeting taxpayers

The Ministry of Finance and the National Revenue Administration (KAS) have issued a public warning about ongoing fraud attempts involving impersonation of official institutions. Fraudsters are using emails, text messages, and fake websites to deceive taxpayers into revealing sensitive personal and financial information.

These fraudulent messages often relate to tax refunds, the need to update personal data, or alerts from government platforms such as the e-Tax Office, your e-PIT, e-TOLL, or the e-Financial Reports system. Victims are typically prompted to click on links or download attachments, which redirect them to counterfeit websites designed to look nearly identical to official government pages.

Once on these fake websites, users may be asked to provide confidential data such as PESEL numbers, bank account information, email credentials, or phone numbers. In some cases, the goal is to directly obtain funds through deceit. Małgorzata Krok, Undersecretary of State in the Ministry of Finance and Deputy Head of KAS, emphasized the heightened risk during the current tax return filing period and urged the public to remain vigilant.

The fraudulent websites are often difficult to distinguish from genuine ones. Common signs of deception include minor errors in the web address—such as commas replacing dots, typos, or added characters that can easily go unnoticed.

Authorities strongly advise the public not to share sensitive information via email, SMS, or phone if there is any doubt about the legitimacy of the communication. If a message or phone call raises concerns, individuals are encouraged to verify its authenticity by contacting the KAS hotline at 22 330 03 30.

Additionally, suspicious activity and potential cybersecurity incidents can be reported through the CERT platform.

With cybercrime increasing during the tax season, officials stress the importance of caution and encourage taxpayers to verify any communication that appears to come from government institutions.

Reverse mortgage market in Poland sees growth in 2024

In 2024, reverse mortgage products in Poland continued to expand, with mortgage funds disbursing nearly PLN 7 million in lifetime annuity payments to clients—marking a 46.5% year-on-year increase. These figures come from the latest report by the Association of Financial Enterprises in Poland (ZPF), which analyzes the state of the reverse mortgage market, particularly in the sales model where clients transfer property ownership to financial institutions in exchange for a guaranteed lifetime income and residence.

The average value of properties involved in reverse mortgage agreements reached PLN 468,900 in 2024, with an average size of 51.4 square meters. Most clients opting for these agreements were between the ages of 75 and 80, with the average client age at 76.7 years.

The cumulative value of lifetime annuities paid out by mortgage funds since 2010 has exceeded PLN 41.2 million. The total value of properties managed under such agreements reached PLN 189 million by the end of 2024, an increase of 19.2% compared to the previous year.

The monthly benefit received by clients varies based on factors such as age and the value of the property. On average, these payments amounted to about 40% of a typical pension from the Social Insurance Institution (ZUS). Based on life expectancy, clients are expected to receive annuity payments for approximately 11 years, according to Agnieszka Kozioł, head of the ZPF Report and Analysis Department.

Geographically, the majority of properties involved in reverse mortgage contracts are located in the Mazowieckie Voivodeship, followed by the Pomeranian, Lower Silesian, and Silesian voivodships.

Despite the growth of reverse mortgage solutions, retirement saving remains low among Poles. According to a survey by ZPF and the Institute for Economic Development at the Warsaw School of Economics, only 17.2% of respondents reported saving for retirement. In contrast, more immediate financial goals such as vacations (37.4%), home renovations (29.5%), and purchases of durable goods or vehicles are prioritized more frequently.

Nevertheless, there has been a gradual increase in retirement saving awareness. A decade ago, only 4.4% of Poles considered retirement savings a priority, and in 2008, the figure was just 2.5%. The upward trend, although modest, suggests growing recognition of the need to secure financial stability in later life.

Real estate market sentiment rises to 53.5 points in early 2025

The real estate market sentiment index in Poland rose to 53.5 points in the first quarter of 2025, according to a survey conducted by the Nieruchomosci-online.pl portal in collaboration with the University of Economics in Wrocław. This marks a 6-point increase compared to the previous quarter, driven in part by government announcements regarding a new loan subsidy program and a slight easing of seller price expectations.

Although the subsidy program has not yet been launched, its announcement in February sparked renewed interest among prospective buyers. Activity on property listings increased, and there was a noticeable uptick in inquiries, suggesting that optimism is beginning to return to the market. However, the sector remains cautious, according to commentary from Rafał Bieńkowski of Nieruchomosci-online.

Contributing to the improved sentiment was a moderation in price expectations. While real estate prices remain high—due to previous government support programs—sellers in many cities have become more willing to negotiate. Seasonal factors also played a role, as the onset of spring traditionally brings more activity to the housing market.

The sentiment index aggregates perceptions across multiple property categories, including apartments, houses, building plots, rentals, and commercial real estate. In the first quarter of 2025, an improvement in sentiment was observed across all these sectors, albeit to varying degrees.

Among surveyed intermediaries, 42% reported a modest increase in local demand for apartments on the secondary market. In the category of building plots, 40% noted a similar trend. In contrast, the market for single-family homes remained stable, with 36% of agents reporting no significant changes in demand. Rental markets saw little movement during the period.

While sentiment improved quarter-on-quarter, it remains lower than levels seen in the same period of 2024, when the index stood at 55.6 points. Despite the modest revival, uncertainty continues to shape market behavior. Buyers remain cautious, often delaying decisions while comparing options and awaiting further policy clarity, particularly regarding interest rates and the implementation of the proposed housing program.

Sellers, on the other hand, are split between those anticipating further price increases and those willing to lower prices to achieve quicker sales. This dynamic reflects a market still operating in a state of observation and restraint, despite early signs of renewed activity.

The survey gathered responses from nearly 1,400 real estate intermediaries across Poland.

Stoneweg European REIT renews major office leases in the Netherlands and Poland

Stoneweg European Real Estate Investment Trust (SERT) has successfully renewed nearly 27,000 square meters of office leases across two properties in the Netherlands and Poland. These lease extensions, involving tenants Coolblue BV and Motorola Solutions, have helped maintain near full occupancy at the respective assets and extended the weighted average lease expiry (WALE) of SERT’s office portfolio to 5.3 years.

The renewal in the Netherlands pertains to Central Plaza in Rotterdam, where Coolblue BV—a prominent Dutch e-commerce company—has extended its lease for 9,599 square meters of office, storage, and parking space. The new lease will take effect in July 2025 and run for five and a half years. Central Plaza is a Grade A, BREEAM-certified office property located in Rotterdam’s central business district, opposite the city’s main train station.

In Poland, Motorola Solutions has renewed its lease at the Green Office complex in Kraków. The company, which has occupied the premises since 2011, will continue leasing 17,761 square meters of office space. The renewal will commence in August 2027 and will be valid for five years at market rent. The Green Office complex is a technologically focused, BREEAM-certified development with on-site data centre capacity and strong public transport links.

These agreements have contributed to portfolio stability, keeping occupancy near 90% and tenant retention at 85% as of 2024. The leases were renewed at rates consistent with current market values, contributing approximately €5.5 million in annual rental income. Independent market assessments indicate that SERT’s office properties are approximately 9% under-rented, suggesting potential for future rent growth.

Chief Executive Officer Simon Garing emphasized the strategic value of maintaining long-term relationships with key tenants and aligning development initiatives with tenant needs and market trends. He also noted that current market dynamics show a preference for well-located, high-quality office spaces, especially as businesses solidify their post-pandemic workplace strategies.

In Rotterdam, office rental rates remain lower than in Amsterdam, attracting a broad range of businesses. Although prime rents have risen by 34% since 2022, vacancy rates for top-tier properties remain modest at 7.8%. In Kraków, the office market has expanded due to the city’s strong IT and business services sectors. While vacancy rates remain high at 19%, demand has supported gradual rental growth, though prices remain well below those in Warsaw.

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