PPF Real Estate to Acquire Diplomat Hotel in Prague

PPF Real Estate Holding has reached an agreement with Rabbit Holdings Public Company Limited, a Thai real estate and financial services company, to acquire the Diplomat Hotel in Prague. The transaction is subject to standard regulatory approvals.

The acquisition expands PPF Real Estate’s international portfolio, which spans offices, residential properties, and hotels across Europe and North America. Located near PPF Group’s headquarters, the Diplomat Prague is operated by Wyndham Hotels & Resorts under the Vienna House Diplomat Prague brand. The property includes 400 rooms and extensive conference facilities catering to business clients.

Under the terms of a previously concluded agreement with PPF Real Estate, Tomáš Otruba, a member of PPF Group’s supervisory board, will acquire a 5 percent stake in the property.

“Real estate is an important investment pillar for PPF, providing predictable, long-term returns and global geographic diversification. The acquisition of the Diplomat Hotel in Prague reflects this strategic approach and PPF’s ongoing search for investment opportunities,” said Robert Ševela, Chairman and CEO of PPF Real Estate.

No further financial details of the transaction have been disclosed.

Michał Radomski Joins Scallier as Investment Director

Michał Radomski has joined Scallier in Poland as Investment Director. In his new role, he will be responsible for advising clients on the acquisition of retail real estate, overseeing asset sale processes on behalf of property owners and developers, and supporting both institutional and private investors in implementing investment strategies and building portfolios. He will also contribute to Scallier’s development and investment projects.

Radomski has more than a decade of experience in commercial real estate investment in Poland. His career has included advisory roles in acquisitions for international investment funds, as well as managing numerous property transactions on the domestic market. He played a role in bringing an Austrian investment fund into Poland and was involved in acquisitions for Centerscape Investments in both Poland and the Czech Republic. He has also advised on the development of retail parks in Poland and Slovakia.

“We are pleased to welcome Michał to our team. His experience and skills will support our company’s plans and provide clients with comprehensive advisory services,” said Bartosz Nowak, Managing Partner at Scallier.

Commenting on his new position, Radomski said: “Working at Scallier marks a new stage in my career. The company’s experience in Poland and Romania allows us to provide clients with broad support in investment projects, both in local and wider European markets.”

Almost 700,000 sq m of Office Space Leased in H1 2025 as Demand Holds, Supply Hits Historic Low

Poland’s office market is showing strong tenant demand against a backdrop of historically low developer activity, with nearly 700,000 sq m leased in the first half of 2025, according to Colliers. Leasing activity was 14 percent higher than in the same period of 2024, while new supply reached its lowest level on record.

Colliers reports that only 87,600 sq m of new offices were delivered nationwide in H1 2025, 97 percent of which was in Warsaw. The West-Centre zone, particularly around Rondo Daszyńskiego, remained the most active development area, with major completions including Ghelamco’s The Bridge, Echo Investment’s Office House/T22, and CD Projekt’s new headquarters. Vacancy in Warsaw fell to 10.8 percent by mid-year, with central areas at 7.8 percent compared to 13.3 percent in non-central districts.

Regional markets recorded the bulk of demand. Colliers notes that 387,200 sq m was leased outside the capital, 35 percent more than in H1 2024. Kraków led with 172,000 sq m, accounting for 44 percent of regional take-up, followed by Wrocław (21 percent) and the Tri-City (14 percent). “Companies are focusing on maintaining their current locations, which may result in increased competition for the most desirable space,” said Anna Galicka-Bieda, Partner and Director of Colliers’ Kraków office.

Other agencies confirm the trend. JLL highlighted that national take-up approached 700,000 sq m, with Q2 activity split almost evenly between Warsaw and the regions. Savills pointed to Kraków’s 85 percent year-on-year growth in leasing, while BNP Paribas Real Estate underlined Warsaw’s lowest-ever pipeline of only ~135,000 sq m under construction, more than 50 percent less than in mid-2024. CBRE noted that the pipeline in regional cities was also at a multi-year low, limiting options for tenants seeking modern, ESG-compliant space.

Rents are already showing upward pressure. Colliers places Warsaw’s starting rents between €19–29 per sq m/month, reaching €35 in the best projects. JLL’s figures are broadly consistent, citing prime asking rents at €22.5–26 in central Warsaw, with new landmark schemes closer to €28–29. In regional hubs, rates remain between €12–19.5, with Kraków and Wrocław at the upper end. Katowice, with vacancy at 22.7 percent, continues to offer tenants the greatest negotiating leverage.

Outlook: Colliers and JLL both forecast further tightening in central locations and top regional projects, with certified Class A buildings increasingly polarising demand. With only 342,300 sq m under construction nationwide and several projects delayed or converted to other uses, supply will remain constrained through 2026. Experts expect rents in the best-located new schemes to rise further, while outdated stock will either undergo modernisation or exit the market.

Sources: Colliers, JLL, Savills, BNP Paribas Real Estate, and CBRE

Oil Prices Recover Partially as OPEC+ Output Rises and Geopolitical Tensions Escalate

Oil markets in September 2025 showed volatility as crude prices attempted to recover from early-month losses but remained below the USD 70 per barrel threshold. The partial rebound was supported by a smaller-than-expected production hike announced by OPEC+, a strike in Qatar, and renewed discussions on sanctions against countries buying Russian crude. However, downward pressure persisted due to oversupply, higher U.S. output, and concerns over sluggish demand in major economies.

Average crude prices declined in August, with Brent down 3.8% to USD 68.2/b, OPEC’s reference basket down 1.7% to USD 69.7/b, and Kuwait Export crude down 1.0% to USD 70.7/b. Forecasts from major institutions point to further softening, with median expectations for Brent at USD 64/b in Q4 2025 and USD 62/b in Q1 2026.

Demand forecasts diverged slightly between agencies. OPEC held its 2025 growth outlook steady at 1.3 million barrels per day (mb/d), bringing total demand to 105.1 mb/d. The International Energy Agency (IEA), meanwhile, raised its projection to a 740,000 b/d increase, citing stronger-than-expected consumption in advanced economies, though warning of weaker second-half demand. Refinery runs reached record highs of 85.1 mb/d in August.

On the supply side, world output hit a record 106.9 mb/d in August, up from 105.6 mb/d in July, as OPEC+ and non-OPEC producers unwound earlier cuts. U.S. production climbed to 13.5 mb/d in early September, while OPEC production rose for a sixth consecutive month to 27.9 mb/d, its highest level in over two years. Spare capacity among OPEC members was estimated at 5.15 mb/d.

Geopolitical risks added further uncertainty. The strike on Qatar raised concerns about Middle East stability, while renewed hostilities between Russia and Ukraine led to fresh discussions in Washington and Brussels about tightening restrictions on Russian crude exports. Moves by Iraq and Saudi Arabia to cut supplies to Russian-linked refineries in India highlighted the complex interplay between sanctions policy and trade flows.

Looking ahead, consensus forecasts suggest oil prices will remain under pressure from oversupply through 2026, with world production expected to rise further to 107.9 mb/d. While geopolitical risks continue to lend short-term support, the broader trend reflects a market facing persistent surplus and demand uncertainty.

Source: Kamco Invest

Oil Prices Recover Partially as OPEC+ Output Rises and Geopolitical Tensions Escalate

Oil markets in September 2025 showed volatility as crude prices attempted to recover from early-month losses but remained below the USD 70 per barrel threshold. The partial rebound was supported by a smaller-than-expected production hike announced by OPEC+, a strike in Qatar, and renewed discussions on sanctions against countries buying Russian crude. However, downward pressure persisted due to oversupply, higher U.S. output, and concerns over sluggish demand in major economies.

Average crude prices declined in August, with Brent down 3.8% to USD 68.2/b, OPEC’s reference basket down 1.7% to USD 69.7/b, and Kuwait Export crude down 1.0% to USD 70.7/b. Forecasts from major institutions point to further softening, with median expectations for Brent at USD 64/b in Q4 2025 and USD 62/b in Q1 2026.

Demand forecasts diverged slightly between agencies. OPEC held its 2025 growth outlook steady at 1.3 million barrels per day (mb/d), bringing total demand to 105.1 mb/d. The International Energy Agency (IEA), meanwhile, raised its projection to a 740,000 b/d increase, citing stronger-than-expected consumption in advanced economies, though warning of weaker second-half demand. Refinery runs reached record highs of 85.1 mb/d in August.

On the supply side, world output hit a record 106.9 mb/d in August, up from 105.6 mb/d in July, as OPEC+ and non-OPEC producers unwound earlier cuts. U.S. production climbed to 13.5 mb/d in early September, while OPEC production rose for a sixth consecutive month to 27.9 mb/d, its highest level in over two years. Spare capacity among OPEC members was estimated at 5.15 mb/d.

Geopolitical risks added further uncertainty. The strike on Qatar raised concerns about Middle East stability, while renewed hostilities between Russia and Ukraine led to fresh discussions in Washington and Brussels about tightening restrictions on Russian crude exports. Moves by Iraq and Saudi Arabia to cut supplies to Russian-linked refineries in India highlighted the complex interplay between sanctions policy and trade flows.

Looking ahead, consensus forecasts suggest oil prices will remain under pressure from oversupply through 2026, with world production expected to rise further to 107.9 mb/d. While geopolitical risks continue to lend short-term support, the broader trend reflects a market facing persistent surplus and demand uncertainty.

Source: Kamco Invest

Potsdam Office Lease Renewal Highlights Stability Amid Retail Shifts

Sonar Real Estate has extended the lease with the Federal Agency for Real Estate (BImA) for roughly 8,000 sq m of offices at Behlertstraße 3A in Potsdam. Sonar oversees the asset on behalf of a pan-European investment manager. The four-storey building, completed in 1993 with around 11,000 sq m of space, is fully let. Walburg Rechtsanwälte advised the landlord during the negotiations.

The transaction comes as Potsdam’s city-centre retail continues to revolve around the pedestrianised Brandenburger Straße, where leasing activity has been visible in 2025. In February, Lührmann brokered a new store letting to Thalia on Brandenburger Straße 57, underscoring ongoing demand for prime, high-footfall frontages.

City-led mixed-use development is also progressing. In Potsdamer Mitte, the Kreativ-Quartier is scheduled to begin handovers at the end of 2025, ultimately adding about 25,000 sq m of rental space (around 15,000 sq m for cultural and creative uses) adjacent to key central-area footfall generators. This pipeline is expected to support surrounding high-street and service retail.

Tourism remains a structural demand driver for Potsdam’s retailers. A new 2025 study cited by the local chamber (IHK) links the city’s palaces and gardens to above-average value creation and employment, reinforcing the role of visitor flows in sustaining central retail trade.

Against the national backdrop, Germany’s retail investment market was comparatively resilient in H1 2025: CBRE reports ~€3 billion in retail transactions, making retail the strongest commercial asset class by volume after residential, even as total activity softened year-on-year. Leasing fundamentals also appear steadier: JLL notes high space turnover in H1 2025 with textiles and food as leading categories and easing availability in most “Big 9” markets, trends that typically filter into regional centres such as Potsdam through tenant expansion and refurbishment demand. Pan-European indicators show prime high-street rents largely stable in Q2 2025.

Local market snapshots from the city and chamber highlight the concentration of retail stock and purchasing power in the core, with Brandenburger Straße remaining the prime strip for visibility and footfall. While some published city statistics reference 2022 baselines, they remain directionally consistent with 2025 observations on tenant mix and centrality; current listings data reinforce the continued positioning of Brandenburger Straße as the top rental location.

Overall, the BImA lease renewal underlines stable occupier demand in Potsdam’s professional and public-sector ecosystem, while the retail core benefits from steady tourism-led footfall, selective new lettings on Brandenburger Straße, and incoming city-centre mixed-use supply by late 2025. If you want, I can add a short data box with current asking-rent ranges for Brandenburger Straße (from active listings) and a one-paragraph outlook for 2026.

Potsdam Office Lease Renewal Highlights Stability Amid Retail Shifts

Sonar Real Estate has extended the lease with the Federal Agency for Real Estate (BImA) for roughly 8,000 sq m of offices at Behlertstraße 3A in Potsdam. Sonar oversees the asset on behalf of a pan-European investment manager. The four-storey building, completed in 1993 with around 11,000 sq m of space, is fully let. Walburg Rechtsanwälte advised the landlord during the negotiations.

The transaction comes as Potsdam’s city-centre retail continues to revolve around the pedestrianised Brandenburger Straße, where leasing activity has been visible in 2025. In February, Lührmann brokered a new store letting to Thalia on Brandenburger Straße 57, underscoring ongoing demand for prime, high-footfall frontages.

City-led mixed-use development is also progressing. In Potsdamer Mitte, the Kreativ-Quartier is scheduled to begin handovers at the end of 2025, ultimately adding about 25,000 sq m of rental space (around 15,000 sq m for cultural and creative uses) adjacent to key central-area footfall generators. This pipeline is expected to support surrounding high-street and service retail.

Tourism remains a structural demand driver for Potsdam’s retailers. A new 2025 study cited by the local chamber (IHK) links the city’s palaces and gardens to above-average value creation and employment, reinforcing the role of visitor flows in sustaining central retail trade.

Against the national backdrop, Germany’s retail investment market was comparatively resilient in H1 2025: CBRE reports ~€3 billion in retail transactions, making retail the strongest commercial asset class by volume after residential, even as total activity softened year-on-year. Leasing fundamentals also appear steadier: JLL notes high space turnover in H1 2025 with textiles and food as leading categories and easing availability in most “Big 9” markets, trends that typically filter into regional centres such as Potsdam through tenant expansion and refurbishment demand. Pan-European indicators show prime high-street rents largely stable in Q2 2025.

Local market snapshots from the city and chamber highlight the concentration of retail stock and purchasing power in the core, with Brandenburger Straße remaining the prime strip for visibility and footfall. While some published city statistics reference 2022 baselines, they remain directionally consistent with 2025 observations on tenant mix and centrality; current listings data reinforce the continued positioning of Brandenburger Straße as the top rental location.

Overall, the BImA lease renewal underlines stable occupier demand in Potsdam’s professional and public-sector ecosystem, while the retail core benefits from steady tourism-led footfall, selective new lettings on Brandenburger Straße, and incoming city-centre mixed-use supply by late 2025. If you want, I can add a short data box with current asking-rent ranges for Brandenburger Straße (from active listings) and a one-paragraph outlook for 2026.

Union Investment Expands Ferio Shopping Center in Konin

Union Investment has completed an expansion of the Ferio shopping center in Konin, Poland, adding 2,700 square meters of rental space at an investment cost of around €5 million. The off-price retailer TK Maxx has opened a new store covering 2,000 square meters, joining the center as a new anchor tenant.

The newly created space was fully pre-leased before construction began. In addition to TK Maxx, new tenants include Polish fashion brand Medicine, menswear retailer Recman, jewelry chain Yes, and a TUI travel agency. Existing anchor tenants at Ferio include H&M, Inditex, and Castorama.

Ferio, part of a Union Investment real estate special fund since 2016 and managed by Multi Poland, now comprises a total rental area of about 38,400 square meters. The complex consists of a shopping center, retail park, and DIY store, with additional facilities such as a gas station and drive-thru restaurants. It offers around 1,000 parking spaces.

Located near the city of Konin in central Poland, the shopping center benefits from its proximity to a highway that connects directly to the A2 motorway between Berlin and Warsaw, one of the country’s main transport corridors.

Poland’s Job Vacancies Fall to Lowest Level Since Start of 2025

The Job Offer Barometer, prepared by the University of Information Technology and Management in Rzeszów together with the Office of Investment and Economic Cycles, declined in August to 254.9 points from 258.5 in July. This marks the lowest reading since the beginning of the year and reflects continued caution among employers in expanding recruitment. A year earlier, in August 2024, the index stood at 260.4 points.

The decline was modest but broadly based. The only province to record an increase in online job advertisements in August was Wielkopolska. Most other regions reported decreases, with sharper corrections in the south-east, particularly in Podkarpackie, Lubelskie, and Małopolskie, areas that also show higher unemployment. Nationally, the registered unemployment rate, excluding seasonal workers, rose by 0.1 percentage points in July to 5.5 percent, the highest level in more than three years.

Sectoral developments were mixed. Professions requiring education in science or engineering recorded their ninth consecutive monthly increase in job advertisements, though the rise was the weakest to date. Growth was driven mainly by demand for programmers, health and safety specialists, and e-commerce workers. Vacancies for administrative IT roles fell after several months of growth, while opportunities for engineers and system administrators also declined. In construction, job postings have been falling steadily since May, aside from a small increase in July.

In services, education and media saw higher recruitment activity, with education reaching its strongest level of postings since 2005. Tourism, however, registered its sharpest monthly fall since last December, continuing a downward trend that began in late 2024. Logistics also recorded another decline.

Occupations linked to social sciences and law saw limited demand. Modest increases were noted only for graphic designers and lawyers, while real estate, marketing, and finance showed the largest reductions. Marketing in particular fell after six months of steady growth, and real estate dropped following a strong second quarter. Banking and call center jobs remained largely unchanged.

The data indicate that while some recovery is visible in IT and education, overall recruitment momentum remains weak. Employers continue to exercise restraint, reflecting both regional labor market disparities and broader uncertainty in the economic environment.

Poland’s Job Vacancies Fall to Lowest Level Since Start of 2025

The Job Offer Barometer, prepared by the University of Information Technology and Management in Rzeszów together with the Office of Investment and Economic Cycles, declined in August to 254.9 points from 258.5 in July. This marks the lowest reading since the beginning of the year and reflects continued caution among employers in expanding recruitment. A year earlier, in August 2024, the index stood at 260.4 points.

The decline was modest but broadly based. The only province to record an increase in online job advertisements in August was Wielkopolska. Most other regions reported decreases, with sharper corrections in the south-east, particularly in Podkarpackie, Lubelskie, and Małopolskie, areas that also show higher unemployment. Nationally, the registered unemployment rate, excluding seasonal workers, rose by 0.1 percentage points in July to 5.5 percent, the highest level in more than three years.

Sectoral developments were mixed. Professions requiring education in science or engineering recorded their ninth consecutive monthly increase in job advertisements, though the rise was the weakest to date. Growth was driven mainly by demand for programmers, health and safety specialists, and e-commerce workers. Vacancies for administrative IT roles fell after several months of growth, while opportunities for engineers and system administrators also declined. In construction, job postings have been falling steadily since May, aside from a small increase in July.

In services, education and media saw higher recruitment activity, with education reaching its strongest level of postings since 2005. Tourism, however, registered its sharpest monthly fall since last December, continuing a downward trend that began in late 2024. Logistics also recorded another decline.

Occupations linked to social sciences and law saw limited demand. Modest increases were noted only for graphic designers and lawyers, while real estate, marketing, and finance showed the largest reductions. Marketing in particular fell after six months of steady growth, and real estate dropped following a strong second quarter. Banking and call center jobs remained largely unchanged.

The data indicate that while some recovery is visible in IT and education, overall recruitment momentum remains weak. Employers continue to exercise restraint, reflecting both regional labor market disparities and broader uncertainty in the economic environment.

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