CA Immo sells IntercityHotel Berlin Hauptbahnhof

CA Immo has completed the sale of the IntercityHotel Berlin Hauptbahnhof, located on Washingtonplatz in Berlin’s Europacity district. The transaction was concluded at a price above the property’s book value.

The hotel, developed by CA Immo and completed in 2013, is situated on Katharina-Paulus-Strasse, adjacent to Berlin’s main railway station. It offers approximately 20,600 square metres of net floor area, including 412 hotel rooms and 10 meeting rooms. The building was constructed in accordance with sustainability guidelines and became the first hotel in Germany to receive a platinum certificate from the German Sustainable Building Council (DGNB).

The sale aligns with CA Immo’s ongoing portfolio strategy, which centres on focusing investment in high-quality office assets located in core urban markets. According to the company, proceeds from such disposals are typically used to fund internal development projects, support liquidity needs, or finance selective external investments.

Legal and tax advice for CA Immo was provided by P+P Pöllath + Partners, with Eastdil Secured acting as financial advisor on the transaction.

KGAL acquires Streitfeld Lofts Office complex in Munich

KGAL has acquired the Streitfeld Lofts office complex in Munich’s Berg am Laim district for one of its institutional special funds. The property, completed in 2020, offers 8,400 square metres of rental space and includes 54 underground parking spaces. It was purchased from a real asset fund managed by BlackRock.

The complex consists of a modern extension and a fully refurbished building originally constructed in 1967. It is located in the eastern part of Munich, in a district known for its mix of cultural venues, creative spaces, and growing commercial activity. The area is part of Munich’s broader Art District and has attracted a variety of tenants, particularly from the IT and consulting sectors.

The office spaces feature loft-style layouts, roof terraces, and high-quality interior finishes. The property is certified “Excellent” under the BREEAM sustainability standard and incorporates several ESG-aligned features, including district heating powered by renewable energy, full LED lighting, e-charging stations, and access to public transportation. Natural light is a prominent feature in the design of the workspace.

KGAL noted that this acquisition marks its fourth office property purchase in the past six months. According to Portfolio Manager Christian Schlüter, current market conditions offer opportunities to secure high-quality assets with long-term potential.

The company plans to continue its investment activity with further acquisitions in both the commercial and residential real estate sectors in the coming months.

Photo: KGAL

Prologis acquires logistics park near Warsaw

Prologis has acquired a logistics park in the Warsaw region from P3, adding nearly 70,000 square metres of warehouse space to its portfolio. The property, known as Prologis Park Grodzisk, consists of four warehouse buildings located in Grodzisk Mazowiecki, about 30 kilometres west of central Warsaw.

The logistics park is positioned close to the A2 motorway, offering access to key transport routes that connect Poland to other parts of Europe. The location supports both regional and national distribution and is currently leased to a range of tenants in logistics, retail, and manufacturing sectors.

The acquisition is part of Prologis’ ongoing focus on established logistics areas in Central and Eastern Europe. The Warsaw region remains a key market due to its proximity to major transportation corridors and consistent demand for warehousing space. The buildings meet modern specifications and are nearly fully occupied.

The purchase aligns with Prologis’ investment strategy in the region. The company already owns logistics facilities across Poland and other Central European countries, including the Czech Republic and Slovakia. The newly acquired site will be incorporated into its broader regional operations.

P3 stated that the sale is consistent with its portfolio management plans and will allow the company to focus on new developments and other assets in its pipeline.

Poland’s logistics property sector has seen steady activity in recent years, driven by infrastructure improvements and continued demand from distribution and e-commerce operators. The transaction reflects ongoing investor interest in core warehouse markets within the region.

OECD calls for stronger global cooperation to sustain growing ocean economy

The global ocean economy has doubled in real terms over the past quarter-century, reaching a value of USD 2.6 trillion in 2020, according to a new report by the Organisation for Economic Co-operation and Development (OECD). However, the report warns that without coordinated international action and strengthened policies, this growth may not be sustainable in the long term.

The OECD’s Ocean Economy to 2050 report outlines key challenges and opportunities that will shape the future of ocean-based industries. Sectors such as offshore oil and gas, marine and coastal tourism, fishing, aquaculture, maritime transport, and port operations have all contributed significantly to economic expansion, accounting for 3–4% of global gross value added over the past 25 years. Despite this steady growth, future gains are far from guaranteed.

According to the OECD, emerging threats such as climate change, shifting demographics, disruptions in global trade, and a lack of investment in productivity-enhancing and green technologies could undermine continued economic progress. In the absence of proactive policy and investment, global ocean economic activity could fall by as much as 20% below 2020 levels by mid-century. On the other hand, if governments accelerate the shift to cleaner energy and invest in innovation, modest but sustainable growth in the ocean economy could continue.

“The case for improving ocean governance and boosting international cooperation is not only environmental, it’s economic,” said OECD Secretary-General Mathias Cormann. “Science-based policymaking, better marine management, and the adoption of digital tools are vital to protecting the jobs, food security, and livelihoods of hundreds of millions of people who rely on the ocean.”

The past decade has seen advances in how countries manage their ocean resources, with the adoption of national ocean strategies, maritime spatial planning, and better ocean economy accounting. International efforts on marine biodiversity, climate policy, fisheries, and reducing emissions from shipping have also made progress. Nonetheless, challenges such as growing market concentration, illegal activities, and uneven policy enforcement remain unresolved.

The OECD report urges countries to strengthen collaboration on ocean governance, particularly in areas where collective action is needed to address global risks. It also calls for greater investment in the energy transition from fossil fuels to renewables in ocean-related industries, along with the integration of advanced digital technologies to improve data collection and monitoring.

In addition to technological and environmental goals, the report emphasizes the need to enhance cooperation with developing nations. Ensuring that economic gains from the ocean are widely shared and contribute to wellbeing, employment, and the preservation of marine ecosystems is a priority. Protecting vulnerable marine environments, while promoting sustainable use and restoration, is framed as both a moral and economic necessity.

The OECD’s conclusions are grounded in new calculations derived from its Inter-Country Input-Output (ICIO) database, offering a detailed picture of how ocean-based industries contribute to global economic output. By modelling future scenarios based on historical productivity data, the report presents a range of possibilities for the ocean economy to 2050—some of which depend heavily on decisive policy choices made today.

Entrepreneurship surges in Czech Republic as early 2025 sees strong start

The Czech Republic has seen a sharp rise in entrepreneurial activity in the first two months of 2025, with 15,431 individuals starting a business and 8,163 ceasing their operations. This results in a net gain of 7,268 entrepreneurs—already representing four-fifths of the net increase recorded for the entire previous year. The data comes from a recent analysis by CRIF – Czech Credit Bureau.

Analyst Věra Kameníčková of CRIF noted that January and February typically show high activity in business formation. This year was no exception, with 8,860 new entrepreneurs entering the market in January and 6,858 in February. After accounting for business closures, the net increase was 4,182 in January and 3,086 in February—both figures notably higher than the same period last year.

Over the past 12 months, a total of 82,179 people began a business, up 9% from the previous year and marking the highest number recorded in the last five years. Prague led the country with 15,925 new entrepreneurs, followed by Central Bohemia with 11,253 and South Moravia with 9,064. At the other end of the spectrum were the Karlovy Vary Region with 1,864 and the Liberec Region with 3,092 new businesses.

The strongest year-on-year growth in new businesses occurred in Prague (18%), Pilsen (11%), and Pardubice (10%). Meanwhile, the number of business closures dropped by 62% compared to the previous year, indicating a continued upward trend in entrepreneurial activity that began in the second half of 2024.

In total, 67,003 people closed their businesses in the past year. Prague again recorded the most closures (9,542), followed by Central Bohemia (8,257) and South Moravia (7,043). The Karlovy Vary Region reported the fewest business closures, with just 2,240.

The report also highlights the continued rise of Ukrainian entrepreneurs in the Czech Republic. Since the beginning of the war in Ukraine three years ago, the number of Ukrainian nationals running businesses in the country has grown by 16,820. Ukrainians now make up 3% of all self-employed individuals in the Czech Republic, with around 56,632 currently registered. Two-fifths of them work in construction, 17% in manufacturing, and a significant share in real estate.

New business activity increased in nine of the Czech Republic’s regions over the past year. Prague led with 17 new entrepreneurs for every 10 who exited the market, followed by Central Bohemia (14) and South Moravia (13). Pardubice and Moravia-Silesia each recorded a ratio of 12 to 10. Four regions—Pilsen, Zlín, Liberec, and Vysočina—saw stable numbers, while the Karlovy Vary Region was the only one where entrepreneurial numbers declined, with just eight new businesses started for every 10 closures.

From March 2024 to February 2025, most new entrepreneurs registered in construction (11,396), professional, scientific and technical services (10,030), and manufacturing (9,878). The most rapid growth occurred in mining and quarrying (27% increase), education (23%), and construction (19%).

While most sectors experienced growth, some continued to show signs of strain. Cultural and recreational activities led with 36 new businesses for every 10 that closed, followed closely by mining and quarrying (35) and information and communication services (29). On the decline were trade, accommodation and catering, and real estate, all of which have been experiencing a sustained drop in entrepreneur numbers.

Source: CRIF

Zoning approved for eastern section of Blau.Quartier in Ulm, unlocking major urban development

The city of Ulm has approved the zoning resolution for the eastern section of the Blau.Quartier project, paving the way for one of Germany’s largest inner-city conversion developments. Spearheaded by Periskop Development—part of Periskop Partners—and its joint venture partner HLG Real Estate GmbH & Co. KG, the project will transform 6.6 hectares of riverside land along the Blau into a vibrant new residential and commercial neighborhood.

The approved section, known as “Blau.Quartier – Bauabschnitt Ost,” will include a mix of housing and services. Plans call for around 7,500 square meters of rental space designated for local services, about 2,000 square meters for additional retail, and facilities such as a medical center, office spaces, and a fitness studio. Additionally, approximately 110 apartments will be built with views overlooking the river.

The second construction phase will offer up to 1,000 apartments across 11 building plots ranging from 1,300 to 4,400 square meters. These plots will be made available for individual purchase, targeting regional investors, construction firms, and project developers looking to participate in the large-scale transformation.

Blau.Quartier has been designed as a model for sustainable urban development. Its mobility plan focuses on encouraging walking, cycling, public transport, and electromobility. The project will retain existing underground parking structures and parts of the original ground floors, while also recycling materials from previous buildings—preserving up to 20 percent of the original building mass. These measures are intended to significantly reduce CO₂ emissions during construction.

Environmental considerations are also embedded in the landscape design. Sealed surfaces will be removed, rainwater management systems improved, and rooftops will be equipped with photovoltaic systems and green spaces. The project aims to support irrigation needs through sustainable water use without drawing additional groundwater.

With the zoning plan now in place, Periskop Development and HLG Real Estate are moving forward with a key phase of what promises to become a major landmark in Ulm’s urban landscape.

Penta reports record €621 million net profit for 2024, driven by broad portfolio performance

Penta has reported a net profit of €621 million for the financial year 2024, its highest result to date. The performance reflects the contribution of all core portfolio companies and the impact of sustained capital investments in recent years, which have enabled the group to scale across sectors.

The group achieved a return on equity of 16.1%, continuing its pattern of stable long-term performance. Penta also launched the Penta Fund at the end of 2024, which has been positively received by qualified external investors. Within the first two months of operation, the fund exceeded its full-year capital-raising target.

With more than 50,000 employees, Penta paid €801 million in income taxes and social contributions last year, underscoring its role as a major regional employer and taxpayer.

In 2024, the group completed several acquisitions, particularly in healthcare and real estate. According to Iain Child, Managing Partner of Penta, these acquisitions will support further expansion in both sectors. He also confirmed that the group plans to invest over €2 billion in the next five years, with all available capital directed toward portfolio growth.

Among Penta’s companies, the Dr. Max pharmacy chain remained the largest profit contributor. The chain continued its expansion in Italy and other markets, operating more than 3,000 pharmacy units across Europe. Dr. Max has focused heavily on digital transformation, implementing an omnichannel strategy across its operations.

Fortuna Entertainment Group (FEG) also delivered strong financial results. Penta remains committed to expanding FEG through acquisitions and market entry, while the company’s management continues to enhance product quality to strengthen its position in the Central and Eastern European betting and gaming sector.

Penta Hospitals expanded its footprint in the Czech Republic with the acquisitions of Dr. Pírek Klinik, a hospital specializing in orthopedics and surgery, and TeamPrevent Santé, a provider of occupational and premium health services. The group also grew its elderly care segment by acquiring Czech assets from the Senecura Group and expanding the Alzheimer Home network.

Penta Real Estate completed a record 682 residential units in 2024 and strengthened its position in premium housing and commercial development. It holds major development sites in Prague (Florenc, Main Railway Station, and Victory Square) and Bratislava (Southbank). The company is also preparing to enter the London real estate market. By the end of 2024, its assets had reached €1.7 billion, supporting a long-term pipeline of high-quality design-led projects.

Penta’s banking portfolio—comprising Prima Banka and Privatbanka—reported a 24% increase in net operating income, driven by portfolio repricing and growth in assets, deposits, and client base. Despite this, net profit fell to €42 million due to the reintroduction of the bank levy in Slovakia, which affected the wider banking sector.

In the media segment, Penta’s Czech and Slovak portfolio surpassed €20 million in EBITDA despite market declines. The group’s key media companies, VLM and NMH, increased their online revenues, reflecting continued progress in their digital transformation strategies.

Source: Penta

EU report: Supporting older workers now an economic necessity

As Europe faces a rapidly ageing population and a rising old-age dependency ratio projected to reach 52% by 2050, retaining older workers in the labour force is no longer just a social issue but an economic imperative, according to new research from Eurofound, the EU agency for social and employment affairs.

The report, Keeping older workers in the labour force, highlights that while employment rates among workers aged 55 and over have improved significantly—rising by nearly 20 percentage points between 2010 and 2023—older workers continue to face a greater risk of long-term unemployment. The rate for this group is still 13.5 percentage points higher than for mid-career workers.

Demographic changes are reshaping Europe’s labour market. Since 2014, the continent has seen a natural population decline, offset only by net migration. By 2023, there were nearly 40 million workers aged 55 and older across the EU. Despite their growing presence in the workforce, the report reveals that ageism and discrimination remain persistent barriers in many workplaces.

The quality of employment for older workers tends to be higher overall, potentially due to the “healthy worker effect”—where employees in poorer-quality jobs retire earlier. However, gender disparities persist, with older women experiencing lower job quality than their male counterparts.

The report delves into job quality variations across age groups, as well as within the cohort of older workers. It also investigates the factors driving employment trends and evaluates national policies and workplace practices aimed at supporting the retention of older employees.

A key finding is the unequal distribution of job quality. Around one-third of older workers are in “empowered” roles that offer good working conditions, but one in five are employed in “high-risk” jobs marked by poor mental health outcomes, financial stress, and work-life imbalance.

Eurofound’s report outlines several policy recommendations to improve conditions and boost participation among older workers. These include incentives for later retirement, combating age discrimination, and introducing more flexible retirement options. The recommendations also extend beyond employment, calling for improved access to healthcare and support services, especially as many older workers retire early to care for others.

With Europe’s demographic challenges deepening, the report underscores the urgency of integrating older workers more fully into the labour market—not only as a matter of fairness but as an essential component of economic resilience.

Source: Eurofound

EU orders more returns of non-EU citizens in late 2024, marking 24% year-on-year increase

The European Union saw a marked increase in the number of non-EU citizens returned to third countries in the final quarter of 2024, according to the latest data released by Eurostat.

Between October and December 2024, a total of 124,935 non-EU citizens were ordered to leave EU territory. Of these, 28,630 individuals were returned to third countries following an official return order. This represents an 11.5% rise in orders to leave compared to the previous quarter and a 3.3% increase in actual returns. Year-on-year, the figures are even more striking, with the number of returns up by 24.3% and the number of orders to leave rising by 16.3%.

Algerian citizens accounted for the highest number of return orders in the fourth quarter, with 11,362 cases. They were followed by citizens of Syria (8,674) and Morocco (8,561). In terms of those actually returned to third countries, the largest groups were from Georgia (3,351), Türkiye (2,492), and Albania (1,982).

France issued the most return orders among EU member states, with 31,880 non-EU citizens instructed to leave. Spain followed with 18,645 orders, while Germany issued 15,135. When it came to actual returns, Germany topped the list with 6,170 individuals returned, ahead of France (3,705) and Sweden (2,600).

The figures reflect ongoing efforts by EU countries to manage migration flows and enforce return decisions more effectively, amid broader debates on migration policy across the bloc.

Source: Eurostat

Slovakia’s population declines for fourth consecutive year amid record low birth rate

Slovakia’s population fell for the fourth year in a row in 2024, as a continued decline in the birth rate outpaced the positive effects of foreign migration, according to the latest data released by the Statistical Office of the Slovak Republic.

As of the end of 2024, the total population stood at 5,419,451, marking a year-on-year decrease of more than 5,200 people. This ongoing population decline represents the first prolonged period of demographic shrinkage since the country became independent in 1993. The key driver behind this trend remains the natural population decrease, primarily due to a historically low number of live births.

In 2024, nearly 54,000 people died in Slovakia, while only slightly more than 46,000 children were born. This resulted in a natural population decrease of approximately 7,600 people—the second highest annual drop in the country’s modern history, surpassed only in 2021 during the peak of COVID-19-related mortality. Over the past five years, Slovakia has lost nearly 40,000 residents due to natural population changes.

“After a period of high mortality during the pandemic years 2020–2022, the birth rate has been falling sharply in the last three years,” said Zuzana Podmanická, Director of the Population Statistics Department at the Statistical Office.

While Slovakia has observed a declining trend in births for the past seven years, the most dramatic drops have occurred recently. Since 2022, the number of live births has fallen below 50,000 annually—levels not seen in the country’s post-war history.

The crude birth rate—a metric comparing births per 100,000 inhabitants—has also reached new lows. After remaining above 1,000 live births per 100,000 people for two decades, it dropped below that threshold in 2022 and declined further to just 853 in 2024. “This is the lowest crude birth rate not only since Slovakia’s independence, but in the past 100 years,” Podmanická noted.

Despite the natural decrease, migration continues to have a modestly positive impact. In 2024, more than 6,800 people moved to Slovakia for permanent residence, exceeding the number of those who emigrated by about 2,400. This represents a higher net migration figure than in the previous two years.

Nevertheless, foreign migration has not been sufficient to offset the losses from the natural decrease. Since 1993, Slovakia has consistently experienced a positive migration balance, ranging from 900 to 7,100 people annually. But for the last four years, that surplus has not been enough to counterbalance the declining birth rate and overall population loss.

The data highlights an ongoing demographic challenge for Slovakia, as it grapples with aging populations, declining fertility, and the need for long-term strategies to stabilize or reverse the trend.

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