FACTORY outlet centres in Poland expand with new brands and larger stores

FACTORY outlet centres across Poland, managed by NEINVER, have expanded their retail offering through the addition of new brands and the enlargement of several existing stores. Recent changes have increased the total sales area by nearly 2,200 square metres, reflecting continued demand for outlet shopping and NEINVER’s focus on long-term partnerships with established retail tenants.

At FACTORY Krakow, the outlet has added several premium fashion brands, including Made in M., which carries lines from the MaxMara Fashion Group such as MaxMara, Marella, Max&Co, and Pennyblack. Italian footwear brand Baldinini and German outerwear specialist Wellensteyn have also joined, further strengthening the centre’s premium fashion segment. These brands join existing international names such as Hugo Boss, Karl Lagerfeld, Calvin Klein, Lacoste, and Tommy Hilfiger. Sportswear remains a strong category, with Nike, adidas, Puma, and New Balance already present. GAP will open its first outlet at the Krakow centre in the coming months. New additions at the centre total more than 700 square metres.

FACTORY Poznań has seen notable expansions among well-known brands. Levi’s has nearly doubled its retail space, now offering a wider range of casual clothing in a redesigned store of over 350 square metres. Calzedonia has expanded to 400 square metres with an updated interior and broader selection, while Polish leather goods brand Puccini has increased its presence to nearly 100 square metres.

In Warsaw, FACTORY Annopol is preparing to expand its New Balance store to 300 square metres, alongside further planned openings and renovations aimed at diversifying the centre’s retail mix in the second quarter of 2025. FACTORY Ursus is also growing, with lifestyle brand Mother Earth set to open a 100-square-metre store and Polish café and bakery Gorąco Polecam launching a 180-square-metre location. Additional food and beverage outlets are scheduled to open later this year.

FACTORY Gliwice continues to grow, following two years of steady development. The centre recently welcomed several new tenants, including Silesia’s only Mountain Warehouse, a 700-square-metre store, along with Guess Accessories and JACK & JONES. Local fashion retailers such as Giacomo Conti, Monnari, and Franco Feruzzi have also expanded their presence. Further plans for the site include three new stores totalling 1,500 square metres and an additional 400 square metres allocated to food services.

These changes underline the ongoing development of the FACTORY network and its ability to attract both international and local retailers, while responding to growing customer demand in key regions across Poland.

CTP signs first leases at CTPark Plzeň Kasárny, continues redevelopment of former military site

CTP has signed its first lease agreements at CTPark Plzeň Kasárny, a redevelopment project converting the former Zátiší Barracks in Plzeň into a modern business and industrial park. The site, which covers nearly 65,000 square metres, is being transformed into a multifunctional centre for manufacturing, logistics, and research.

The first tenants are MITO LIGHT and Avenier a. s., both of which are expected to take possession of their premises in autumn 2025. MITO LIGHT has leased 556 square metres for use as a warehouse, distribution hub, showroom, and company headquarters. Avenier a. s., a distributor of vaccines and pharmaceuticals, has taken 588 square metres for warehousing and distribution to healthcare facilities and vaccination centres across the Czech Republic.

The original six-building plan for the park has been reconfigured into three multi-purpose structures to better meet current demand. These include CTBox units for warehousing and light production, CTSpace facilities for large-scale operations, and a new building type, CTWorkshop, designed for startups and small businesses needing flexible space.

The project incorporates a number of sustainability features. Recycled materials from the original structures have been reused, while photovoltaic systems, green roofs, and rainwater harvesting contribute to energy efficiency and environmental performance. Building management systems (BMS) will monitor and optimise energy usage, and outdoor amenities such as green spaces, water features, and pedestrian and cycling paths are also planned.

Located near the centre of Plzeň and in proximity to the D5 motorway, CTPark Plzeň Kasárny benefits from strong transport connections and complements the neighbouring CTPark Plzeň. Additional space at the site remains available for lease, with flexible options for companies involved in logistics, research, or manufacturing.

Swiss Life asset managers lets logistics development in Laichingen to Wiedmann & Winz

Swiss Life Asset Managers has signed a long-term lease agreement with logistics provider Wiedmann & Winz GmbH for its new logistics property “Stuttgart Southeast I” in Laichingen, Baden-Württemberg. The 21,000-square-metre facility, currently under construction, was fully let ahead of completion. Handover is scheduled for the second quarter of 2025.

The property comprises three hall units, with around 18,000 square metres allocated to logistics operations, more than 1,000 square metres for office and social areas, and 2,100 square metres of mezzanine space. The project is part of Swiss Life Asset Managers’ pan-European logistics pipeline and is being developed by general contractor Goldbeck.

Wiedmann & Winz, which provides transport and contract logistics services across Europe, plans to use the facility to expand service capacity for its regional industrial and commercial clients.

The building is designed with energy efficiency in mind, including heat pumps and rooftop preparations for photovoltaic systems. It is targeting BREEAM Very Good certification.

The Laichingen site, located between Stuttgart and Ulm, offers direct access to the A8 and A7 motorways, making it a strategic location for regional and international distribution.

BNP Paribas Real Estate managed the leasing process and secured the tenant.

Passerinvest to invest CZK 21 billion in Prague development by 2029

Passerinvest Group has announced a long-term investment plan worth CZK 21 billion aimed at expanding and reshaping two major areas in Prague: Brumlovka and Roztyly. By the end of 2029, the developer intends to bring 180,000 square metres of new office, residential, and retail space to the market, alongside 5.5 hectares of revitalised public areas including parks, water features, and leisure zones.

The investment includes the construction of four new office buildings, two of which will also include a total of 200 rental apartments and commercial space. In addition, a separate residential project with 650 housing units for both sale and rent is planned. According to the company, this ongoing development will be the largest private investment in Prague 4 and is expected to contribute to the broader economic growth of the region.

A key part of the strategy was established in 2024 with the launch of the Hila project in Brumlovka. Spanning 27,000 square metres, this development combines office space, rental housing, and retail in a horizontally structured format. Completion is expected between late 2026 and early 2027.

The company has also received a building permit for Orion, a 28,000 square metre mixed-use building in Brumlovka. The structure, currently in the early stages of construction, will integrate office, residential, and retail spaces. Sustainability features include heat pumps, geothermal boreholes, photovoltaics, and advanced air ventilation systems. The building will also feature green roof terraces and landscaped public areas, such as a new pedestrian corridor inspired by San Francisco’s Lombard Street. Orion is designed to meet LEED Platinum certification, PENB A rating, and EU Taxonomy requirements.

Passerinvest recently completed a major land acquisition in Brumlovka after 25 years of negotiations, paving the way for future office development and public space enhancements. The company also received the highest rating—three stars—from the American Fitwel certification system, making Brumlovka the first location in the EU to achieve this distinction. The certification, based on thousands of academic studies, recognises developments that promote user well-being, environmental sustainability, and accessible urban infrastructure.

In addition to Brumlovka, Passerinvest is continuing development in Roztyly. In 2024, it completed the 23,000 square metre Roztyly Plaza office building and secured a permit for the 33,000 square metre Sequoia building, which is now under construction. Sequoia will offer eleven floors of office space and integrate energy-efficient technologies such as pumped-storage heat systems, heat pumps, radiant ceilings, air ionisers, and photovoltaics.

A residential component, the Arboretum project, is also planned in Roztyly, providing approximately 400 apartments for sale and 250 for rent. Across both locations, the developer will enhance 5.5 hectares of public areas with parks, sports fields, playgrounds, and water features, aligning with the goal of creating accessible, multi-functional urban districts.

Eduard Forejt, Business Development Director at Passerinvest, highlighted that tenants and residents increasingly prioritise high-quality working environments, flexible space usage, and access to a full range of amenities. The company’s developments are designed to accommodate these needs by offering integrated solutions for work, living, recreation, and education within a single urban framework.

Veleslavín Castle to be auctioned again, price lowered to CZK 303.45 million

The Office for the Representation of the State in Property Matters (ÚZSVM) will offer Veleslavín Castle for sale for the fifth time in an electronic auction beginning on 6 May at 10:00 a.m. The starting price has been reduced to CZK 303.45 million, down CZK 53.55 million from the most recent attempt in March. Previous auctions attracted no bidders.

Those interested in participating must submit a deposit of CZK 15 million by the day before the auction begins. Bids can be placed in increments of at least CZK 50,000 during the 24-hour auction period. If the auction is successful, the capital city of Prague and the Prague 6 district will be given the opportunity to match the highest bid.

The state previously proposed including Veleslavín Castle in a real estate exchange with the city, but the negotiations did not result in a deal. A request from the city for the property to be transferred without payment was rejected. Although the property’s price has steadily declined from an initial CZK 580 million, earlier offers to the city and Prague 6 were declined on the grounds that the valuation was still too high.

Veleslavín Castle, which includes a historic park, spans approximately three hectares and dates back to around 1725. It was designed by architect Kilián Ignác Dientzenhofer for Empress Amalia of Brunswick. In the early 20th century, the site served as a neurological sanatorium established by Leo Kosák and Oskar Fischer, a co-discoverer of Alzheimer’s disease. Notable patients included Charlotta Garrigue Masaryk and Milena Jesenská.

The property was nationalized after the 1948 communist coup and later rented out to various institutions. It has been under the administration of ÚZSVM since 2015, following its transfer from the Ministry of Labour and Social Affairs. The last major renovation of the complex took place in 1986. Currently, parts of the site are on loan to Prague 6, which opened some of the premises to the public last year.

ÚZSVM is currently offering 47 state-owned properties for sale via public auctions. The most expensive property on offer is the Štiřín Chateau in Central Bohemia, listed at CZK 982.6 million and scheduled for auction next week. In March, the office completed the sale of the U Hybernů House in Prague for CZK 447 million, marking the second highest sale in the agency’s history.

Source: CTK
Photo: Wikidata

REICO Real Estate Fund expands rental housing portfolio with new project in Prague

REICO Real Estate Fund of ČS (REICO RN) has acquired another residential rental project as part of its ongoing expansion in the housing segment. The fund has entered into an agreement with developer FINEP to purchase the Stodůlky Residential project, located in the Western City area of Prague. This is the fund’s second rental housing investment and aligns with its strategy to diversify and stabilize its portfolio in response to real estate market fluctuations.

According to Dušan Sýkora, Chairman of the Board of Directors of REICO IS ČS, the expansion into institutional rental housing addresses a previously absent component in the fund’s portfolio. He notes that, beyond improving portfolio stability through diversification, residential rental assets offer a dual benefit—steady rental income and potential long-term capital appreciation.

The Stodůlky Residential project is part of FINEP’s British Quarter development and will include three residential buildings (A, B1, and B2), comprising a total of 219 apartments across 10,400 square metres of floor space. The site is located near the Stodůlky metro station on line B and is approximately 14 kilometres from Václav Havel Airport. Construction is scheduled to begin in April 2025, with occupancy expected within three years.

FINEP CEO Tomáš Pardubický described the British Quarter as an example of long-term, planned urban development. He stated that the partnership with REICO and investment company Ungelt Group, which is also involved in the project, reflects growing confidence in the rental housing sector. According to Pardubický, rental housing is not only a market opportunity but also a response to changing social needs, offering flexibility, accessibility, and security to residents.

Ungelt Group, which specializes in development and real estate investment, has a history of collaboration with FINEP and will again participate in the project. Dušan Prchlík, a partner at Ungelt, emphasized the importance of delivering housing that meets current standards of quality and sustainability.

REICO RN, established in 2007, is the largest and oldest Czech real estate fund, focusing on conservative investment strategies. Its current portfolio includes 20 properties—nine in the Czech Republic, six in Slovakia, and five in Poland—with a total market value nearing CZK 38 billion. As of the end of March 2025, the fund had approximately 140,000 shareholders and reported a 12-month return of 4.38%.

Poland BIK reports strong growth in housing loan inquiries in March 2025

The BIK Index of Demand for Housing Loans indicates a 33.3% year-on-year increase in the value of loan inquiries in March 2025. This means that, on an average working day in March, banks and credit unions submitted housing loan inquiries to BIK that were over one-third higher than in the same month last year.

The BIK Index measures changes in the total value of housing loan applications submitted by individual clients compared to the same period in the previous year. It serves as a key indicator for analysts and financial institutions, offering insight into housing loan market trends and helping forecast credit demand in the coming months.

In March 2025, 36,940 people applied for housing loans, up from 29,650 a year earlier—an increase of 24.6%. Compared to February 2025, the number of applicants rose by 11.6%. This marks the highest level of activity since January 2024.

The average housing loan amount applied for in March reached PLN 460,100, a 7.0% increase from the previous year and 2.4% more than in February.

Dr. hab. Waldemar Rogowski, Chief Analyst at BIK Group, explained that the significant rise in the March index should be viewed in the context of last year’s lower base. In early 2024, housing loan demand had slowed due to the expiry of the “Safe 2% Loan” program in December 2023 and anticipation surrounding the launch of a new government support initiative.

Rogowski noted that the increasing number of applicants suggests renewed interest in the housing market. This appears to be influenced by falling prices in the secondary housing market and growing impatience among prospective buyers awaiting the new support program. He also pointed out that the number of loan applicants may be higher because more applications are being submitted jointly, rather than individually, which increases the number of inquiries recorded.

The rising average loan amount is another key factor behind the increase in the Index. March 2025 saw a record high in this metric, suggesting that borrowers are increasingly applying for loans to finance more expensive properties. According to Rogowski, this trend is driving a greater share of joint applications and will likely support further growth in housing loan demand in the coming months.

House prices and rents continued to rise in the EU in late 2024

House prices and rents in the European Union continued to increase in the fourth quarter of 2024, according to data released by Eurostat. Compared to the same quarter in 2023, house prices rose by 4.9%, while rents increased by 3.2%. On a quarterly basis, house prices went up by 0.8% and rents by 0.6% compared to the third quarter of 2024.

Over the long term, both indicators show significant growth. Since 2010, house prices in the EU have increased by 55.4%, while rents have risen by 26.7%. The trend for rents has been relatively steady, but house prices have shown more variation, particularly with a marked rise from early 2015 until late 2022. This was followed by a brief period of stabilization before prices began climbing again in 2024.

National data reveals substantial differences across countries. Between 2010 and the end of 2024, house prices increased more than rents in 21 EU member states with available data. The largest increases in house prices were recorded in Hungary (+234%) and Estonia (+228%), with other countries such as Lithuania, Latvia, Czechia, Portugal, Bulgaria, Austria, and Luxembourg also seeing their house prices more than double. In contrast, Cyprus saw no change in house prices over the period, and Italy was the only country to experience a decline, with a 4% drop.

Rent prices also rose in 26 EU countries between 2010 and 2024, with Estonia (+212%), Lithuania (+175%), and Hungary (+114%) showing the highest increases. Greece was the only country to record a decrease in rent prices, falling by 13% over the same period.

These figures highlight ongoing upward pressure in the European housing market, both in ownership and rental segments, with notable differences between countries in terms of price evolution over the past decade.

Source: EUROSTAT

Retail turnover in Slovakia declines in February after over a year of growth

Retail turnover in Slovakia recorded a year-on-year decline in February 2025, marking the first decrease since January 2024. According to data from the Statistical Office of the Slovak Republic, retail turnover fell by 2.6% compared to February of the previous year. On a month-to-month basis, after seasonal adjustment, turnover declined by 0.8%.

The downturn affected nearly all segments of the retail trade, with eight out of nine components reporting lower turnover. The most significant decreases were seen in fuel sales, which dropped by 9.8%, and in stores selling household goods such as furniture, electronics, and hobby supplies, where turnover fell by 9.5%.

Hypermarkets and supermarkets, which represent the largest share of total retail turnover, experienced only a slight decline of 0.4%. A more notable decrease of over 20% was reported in specialized stores offering cultural and recreational goods such as books, sports equipment, and toys. Despite their smaller share in total turnover, this group saw the sharpest decline.

The only retail segment to show growth was specialized stores selling textiles, footwear, drugstore items, and pharmaceuticals. These stores recorded a 5.3% year-on-year increase in February, continuing a trend of positive performance since October 2023.

Overall, retail turnover in Slovakia decreased by 0.9% during the first two months of 2025 compared to the same period in 2024.

In other areas of internal trade, wholesale was the only component to show growth in February, with turnover increasing by 6.6% at current prices. Meanwhile, turnover declined in the sale and repair of motor vehicles and motorcycles by 9.6%, in accommodation services by 4%, and in food and beverage services by 3.4% (all measured at constant prices).

Month-on-month figures showed a mixed performance. After seasonal adjustment, turnover rose in the sale and repair of motor vehicles by 7.1%, in wholesale by 1%, and in accommodation by 6.2%. Conversely, food and beverage services saw a decline of 2.6%.

Cumulatively, for the first two months of 2025, wholesale turnover increased by 6%, accommodation services grew by 0.6%, and food and beverage service activities rose by 1% year-on-year. In contrast, turnover in the sale and repair of motor vehicles dropped by 8.4%.

Source: Statistical Office of the SR

Sekyra Group nears completion of first phase on Rohanský Island development in Prague

Sekyra Group is nearing the completion of the first phase of its large-scale urban development project on Rohanský Island in Prague. The developer has finalized construction of four residential buildings and one office building. The current phase will conclude later this year with the addition of three more buildings. At the same time, work on the second phase of the project is scheduled to begin, comprising four new residential blocks and three office buildings.

The project, located near the city center, began in 2021. The four completed residential buildings offer a total of 220 apartments. The finished office building, Arché, designed by architect Eva Jiřičná, now serves as the headquarters of Sekyra Group. A second office building, which will house Creditas Bank, is set to begin construction this year and was designed by architect Jakub Cígler.

Also planned for this year are two residential towers that will complete the first phase of the project. The second phase will begin with the construction of four residential blocks near the city center, some of which will be designated for rental housing. In addition, three office buildings are to be built along the Rohanský waterfront, with completion targeted for 2028.

Sekyra Group plans to complete the entire district by 2035. The development is expected to provide housing and employment for around 11,000 people, with total investment estimated at CZK 25 billion. The district will also include green spaces, a central square, and a school. A key feature will be a one-kilometre-long promenade along the waterfront, designed as a central public space for the community.

The naming of the streets and public spaces in the new district will reflect a philosophical theme. Streets have already been named after Jan Sokol, Radim Palouš, and Ludwig Wittgenstein. Additional names will include philosophers such as Immanuel Kant, Jacques Derrida, John Stuart Mill, Emmanuel Levinas, and others. Parks will be named after John Locke, Derek Parfit, John Rawls, and Simone Weil. Sekyra Group also plans to name streets in its Smíchov project after notable women.

To reinforce the philosophical identity of the district, an annual philosophy festival will be held starting this September. According to philosopher Adam Lalák, the event aims to present philosophy as an accessible and practical activity, rather than an abstract academic pursuit. The first festival will focus on the theme of “philosophy and space,” and will feature interactive sessions, panel discussions, and cultural programming.

Source: CTK

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