Print still reigns: EU readers prefer physical books over digital in 2024

In 2024, online shoppers across the European Union continued to show a strong preference for printed reading materials over digital formats. According to a recent survey, 14.7% of EU residents reported purchasing printed books, magazines, or newspapers online during the three months prior to the survey—more than double the 6.8% who opted to download e-books or audiobooks.

Ireland led the way with the highest proportion of residents buying printed publications online at 28.3%, followed by the Netherlands at 23.5% and Luxembourg at 22.7%. On the other end of the spectrum, the lowest shares were observed in Cyprus (2.0%), Latvia (3.8%), and Romania (5.3%).

When it came to digital formats like e-books and audiobooks, the highest uptake was seen in Ireland again, with 22.3% of its population downloading these formats, trailed by Denmark at 19.7% and Luxembourg at 13.3%. The smallest proportions of digital purchases were recorded in Bulgaria (1.8%), Latvia (2.5%), and Romania (2.6%).

Interestingly, in three EU countries—Denmark, Cyprus, and Finland—digital purchases surpassed those of printed books, marking a notable shift in reading habits within these regions.

Source: Eurostat

Poland’s retail sales edge down annually in March, surge month-on-month

Retail sales in Poland fell slightly in March 2025, marking a year-on-year (y-o-y) decrease of 0.3% at constant prices, compared to a 6.1% increase in March 2024, according to data released by Statistics Poland. However, on a month-on-month (m-o-m) basis, retail sales rose by 14.3%, driven in part by seasonal factors.

For the first quarter of 2025 (January–March), retail sales grew by 1.4% y-o-y, down from a 5.0% increase in the same period of 2024.

Sector Breakdown

Among major categories, several sectors experienced annual declines in March:
• Other goods: down 12.2%
• Food, beverages, and tobacco: down 9.4%
• Solid, liquid, and gaseous fuels: down 0.1%

On the other hand, several categories posted strong growth:
• Motor vehicles, motorcycles, and parts: up 18.4%
• Furniture, electronics, and household appliances: up 12.9%
• Textiles, clothing, and footwear: up 6.7%
• Pharmaceuticals, cosmetics, and orthopaedic products: up 5.0%
• Newspapers, books, and specialty store goods: up 1.0%

E-commerce Growth

Online retail also continued to grow, with sales rising 13.1% y-o-y in March. E-commerce accounted for 9.0% of total retail sales, up from 8.0% the previous year. Notably, the online share of:
• Textiles, clothing, and footwear rose from 23.0% to 27.2%
• Furniture and electronics increased from 17.1% to 17.9%
• Books and specialty store items dropped from 23.3% to 19.9%

Seasonally Adjusted Figures

When adjusted for seasonal factors, retail sales in March 2025 were:
• 1.0% higher than in March 2024
• 1.9% higher than in February 2025

The March drop in food and beverage sales was partially influenced by Easter falling in early April this year, compared to late March in 2024, as well as fewer trading days.

Source: GUS

Livingstone expands Industrial Technology team with new Managing Director

Livingstone has expanded its Industrial Technology team with the appointment of Helmut Laner as Managing Director. In his new role, Laner will focus on strengthening international origination efforts within the firm.

Laner brings over 15 years of experience in sourcing and executing transactions across various sub-sectors of industrial technology. His expertise spans areas such as Test & Measurement, Flow Control, Automation, Internet of Things (IoT), Power Transmission, and Laboratory Equipment.

Commenting on the appointment, Ralph Hagelgans, Partner at Livingstone’s Düsseldorf office, said: “Trends in industrial automation, IoT, and Industry 4.0 are reshaping manufacturing globally. These developments continue to influence M&A activity and technological innovation. With a global footprint and experience in the sector, Livingstone is well placed to support clients through this transition.”

Andrew Isgrig, Partner in the Chicago office, added: “Helmut’s appointment as Global Head of Origination reflects our continued focus on international expansion and collaboration. His background will support stronger alignment across Livingstone’s global offices and contribute to further growth in the industrial technology segment.”

Before joining Livingstone, Laner worked at EC M&A, where he was involved in deal origination and execution with both strategic and financial investors across Europe and the US. He holds a Bachelor of Business Administration from the University of Innsbruck and an MPA in Finance from Cornell University.

In his own statement, Laner said he looks forward to contributing to the firm’s international growth, adding that Livingstone’s mid-market focus, international reach, and sector expertise provide a strong platform for further development in the industrial technology space.

Retail real estate adapts to market shifts with innovation and efficiency

The commercial real estate sector, particularly retail, is undergoing significant changes driven by evolving consumer habits, technological advancements, and increased environmental awareness. According to Marcin Kosieniak, an MEP specialist and co-owner of PM Projekt, these shifts are pushing property owners and managers to adopt more innovative and energy-efficient solutions.

Focus on Energy Efficiency

Heating, ventilation, and air conditioning (HVAC) systems have become a central area for operational cost reduction in retail buildings. Kosieniak notes that intelligent HVAC systems, which use machine learning to adapt to real-time occupancy levels, can lower energy consumption by up to 25–30%. These systems adjust output during off-peak hours and ramp up efficiency when foot traffic increases.

Optimizing HVAC operations can result in operating cost savings of 15–20% annually, which may also reduce service charges for tenants and, potentially, consumer prices. PM Projekt has implemented such systems in both Poland and Germany, with a typical return on investment occurring within 3–5 years. Kosieniak adds that sustainable HVAC systems are increasingly seen as a value proposition for attracting environmentally conscious tenants and customers.

Evolving Role of Retail Spaces

The boundaries between physical and online retail are becoming less distinct, prompting the development of hybrid retail formats. Many shopping centers now serve as multifunctional hubs combining retail with dining, entertainment, coworking, and even residential areas. Showroom-style stores, where customers view products before ordering them online, are also becoming more common.

These diversified uses help maintain the viability of retail properties even during downturns in traditional retail activity.

Role of Technology

Technology is playing a growing role in enhancing both operational efficiency and customer experience. From people-tracking systems and smart lighting to IoT-based building management tools, innovations are helping retail centers cut energy usage, improve maintenance planning, and personalize the customer journey. Features like mobile navigation, targeted promotions, and cashless payments are now standard in many shopping environments.

Sustainability and Certification

Sustainability is increasingly integrated into both new developments and refurbishments of existing retail centers. Certifications such as BREEAM and LEED are now common, reflecting the use of eco-friendly materials, rainwater recovery systems, and green infrastructure like rooftop gardens.

Kosieniak highlights that such environmental initiatives not only reduce emissions and operating costs but also meet the expectations of tenants and shoppers who prioritize sustainability.

Flexible Leasing and Adaptable Design

Retail landlords are also embracing more flexible leasing models, including short-term leases, pop-up formats, and modular layouts. This allows for faster adaptation to tenant needs and market shifts. New retail buildings are being designed with future reconfiguration in mind, enabling easy repurposing of space.

“Success in today’s market requires a comprehensive approach—combining efficiency, adaptability, technology, and sustainability,” says Kosieniak. “Retail properties that can evolve with these trends are best positioned to thrive in the changing commercial landscape.”

Czech economic confidence declines in April

Overall confidence in the Czech economy declined in April, according to the Czech Statistical Office’s latest business cycle survey. The composite confidence indicator, which reflects sentiment among businesses and consumers, fell by 2.8 points month-on-month (m-o-m) to 96.7.

Business Confidence

The business confidence indicator dropped by 3.1 points to 96.5. Among individual sectors:
• Industry: Confidence declined by 4.5 points to 90.3. While assessments of current demand and inventory levels remained largely unchanged, expectations for production growth increased slightly for the first time in five months. The proportion of businesses citing insufficient demand as the main barrier to production fell to 44% (from 53% in January), though 21% still reported material or equipment shortages. Year-on-year (y-o-y), confidence in industry is lower.
• Construction: Confidence rose slightly by 0.6 points to 116.4. Fewer firms reported weak demand or rising prices as concerns, though staff shortages remain the main constraint, affecting 38% of respondents. Compared to April 2024, confidence in construction is higher.
• Trade: Confidence dropped by 2.0 points to 100.2. Entrepreneurs had a less positive view of the current economic situation, while expectations for improvement and stock levels remained stable. Fewer businesses anticipate price increases in the near term. Confidence is higher than a year ago.
• Selected Services (including finance): The indicator decreased by 2.0 points to 100.3. While current demand assessments remained positive, fewer businesses expect demand to rise in the coming months. Half of respondents reported no production-limiting barriers, up from 43% in January. Fewer businesses reported insufficient demand, but other constraints such as regulation and wage costs were cited. Compared to last year, confidence in services is higher.

Consumer Confidence

Consumer sentiment also declined, with the confidence indicator down 1.1 points to 97.7. A greater number of consumers expect the overall economy and their personal financial situation to worsen over the next year. Although perceptions of current financial conditions remained stable, fewer households plan major purchases. Concerns about unemployment eased, but fears of further price increases rose sharply. Consumer confidence is lower than in April 2024.

New 16-story mixed-use building planned for central Zlín

A new high-rise development is planned for the center of Zlín, featuring offices, rental apartments, a hotel, and a rooftop observation terrace. The project, named Prospect, will be constructed behind the Zlín department store on the site of a former bank building.

The development, estimated to cost just under one billion CZK, is intended to revitalize the Práce square area. Demolition of the existing structure is scheduled for this summer, with construction expected to begin by the end of 2025 and completion projected for late 2027. PSG Construction, based in Otrokovice, will serve as the general contractor.

The project comprises a 58-meter-tall tower—the second tallest building in the city after the Baťa skyscraper—and an adjacent low-rise hotel building with 80 rooms. The development will also include 58 residential units, 3,700 square meters of office space, a restaurant, underground parking for approximately 200 vehicles, and a pedestrian zone.

Architect Juraj Sonlajtner, who contributed to the design, emphasized the importance of integrating the new structure with the city’s architectural heritage. He described the tower as a “glass crystal” designed to reflect the surrounding Baťa-era buildings, including the nearby skyscraper and Interhotel Zlín.

The project has received support from the City Architect’s Office, which noted the building’s alignment with Zlín’s architectural tradition while incorporating modern design elements. Mayor Jiří Korec (ANO) welcomed the initiative, citing it as a positive step for the city’s development.

Source: CTK

Prague to finalize agreement for residential development at Revoluční and Lannova

The Prague City Council has approved the wording of a memorandum with developer RSJ and the Prague 1 district regarding a planned residential building at the corner of Revoluční and Lannova streets. The agreement addresses the impact of the new construction on a neighboring heritage-protected baroque building owned by the city.

The development project, which will include a publicly accessible passage connecting Revoluční and Nové Mlýny streets, requires coordination with the city due to its proximity to municipal property. The baroque building currently serves as a facility for the municipal company Pražské služby, including offices and storage for winter road materials.

According to city councilor Adam Zábranský (Pirates), the memorandum aims to align the new construction with a planned revitalization of Revoluční Street. The agreement also outlines future arrangements for the baroque building, with two possible approaches: selling the property to the developer under specific conditions, or allowing the investor to use and maintain it long-term under a formal agreement.

The residential project is based on the winning design of a 2024 architectural competition, awarded to Paris-based Studio Muoto and Brno’s PEER collective. The new design replaces an earlier proposal by architect Eva Jiřičná, which faced opposition due to its plan to demolish a neo-Gothic structure. Following objections from the National Heritage Institute and heritage groups, the original design was withdrawn and replaced with the current competition-based process.

The memorandum must still be reviewed by Prague 1 before being finalized.

Source: CTK
Photo: PEER

Catella appoints Rikke Lykke as CEO and President

Catella Group has announced the appointment of Rikke Lykke as its new CEO and President, effective 15 August 2025. She will succeed Daniel Gorosch, who has been serving in an interim capacity.

Rikke Lykke brings significant experience in the European real estate sector. Her previous roles include CEO of DEAS Asset Management, senior positions at PATRIZIA, and board roles at Ikano Bostad, Formueforvalterne Investering & Tryghed, and PropTech Denmark. She holds a degree in Economics and Business Administration from Copenhagen Business School.

The appointment was confirmed by Catella’s Board of Directors, which cited her international background and industry expertise as key factors in the decision. Daniel Gorosch will remain in his position until Lykke takes over in August.

Manova Partners sells distribution center in Weston, Florida

Manova Partners has announced the sale of a distribution center located at 1600 North Park Drive in Weston, Florida. The facility comprises 21,032 sqm of industrial and office space on a 52,205 sqm site.

The property was originally acquired by Manova Partners in January 2018 and sold in February 2025 following a period of active asset management. At the time of the transaction, the facility was 54 percent leased on a long-term basis.

Located in Broward County, the cross-dock facility includes 46 dock-high doors, 2 drive-in doors, 11 trailer stalls, 226 parking spaces, and various docking features such as canopies, bumpers, and levers.

CBRE National Partners acted as the advisor for Manova Partners in the sale.

Katarína Brydone named Managing Director of Colliers Czech Republic

Colliers has announced the appointment of Katarína Brydone as Managing Director of its Czech Republic operations, effective 2 May 2025.

In her new role, Brydone will focus on supporting the growth of the Czech business and improving operational processes. She will work closely with Monika Rajska-Wolińska, CEO of Colliers Central and Eastern Europe (CEE), to broaden the firm’s service offerings in the Czech Republic and across the region.

Brydone succeeds Tewfik Sabongui, who is stepping down after seven years leading Colliers’ Czech operations.

Bringing nearly two decades of industry experience, Brydone has a background in investment, leasing, tenant representation, property management, and building consultancy. Most recently, she served as Head of Asset Management at Trigea Funds. She also held several roles during her 16-year tenure at CBRE.

Monika Rajska-Wolińska said the appointment will support Colliers’ regional efforts to provide a more comprehensive client offering, noting Brydone’s experience managing assets across various property sectors and services.

Davoud Amel-Azizpour, CEO of Colliers EMEA, welcomed the appointment and expressed confidence in Brydone’s ability to contribute to the firm’s development and client relationships in the Czech market.

“I look forward to contributing to the Czech Republic team and supporting our clients by building on the strengths of Colliers’ multidisciplinary platform,” Brydone said.

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