Stokado begins construction of second self-storage facility in Cracow

Stokado, the second-largest operator in Poland’s self-storage market, has started construction on its second facility in Cracow. The new development, situated on Nowohucka Street near the M1 shopping centre, will provide over 3,000 square metres of net lettable area (NLA) and is expected to open in spring 2026.

The facility will be located adjacent to one of the city’s major roadways, Kraków’s third ring road, offering strong visibility and accessibility. Surrounded by residential neighbourhoods and a key retail hub, the site was selected in line with Stokado’s strategy of prioritising client convenience and connectivity when expanding its portfolio.

The new building will be a fully automated facility, accessible 24/7 for both private and business users. Clients will be able to reserve storage units online or via the app. The project has been designed to meet BREEAM certification standards at the “Very Good” level and will incorporate sustainable features such as photovoltaic panels, LED lighting, and a heat pump.

Stokado is jointly owned by Redefine Properties, Griffin Capital Partners, and the company’s founders. Since its acquisition in 2023, the company has focused on expanding in Warsaw and other key regional markets. Pieter Prinsloo, CEO of Redefine Europe BV, noted that the new Cracow development follows the company’s earlier projects in Warsaw’s Bemowo district and Cracow’s Bronowice area, the latter of which is due for completion this summer.

According to Piotr Fijołek, Co-Managing Partner at Griffin Capital Partners, the self-storage market in Poland continues to grow, with increasing demand for environmentally compliant and well-located facilities. He added that Stokado has secured several plots for new investments and plans to begin construction on four additional facilities across Poland by the end of the year.

Stokado currently manages over 28,000 sqm of net lettable area across 20 locations in 12 Polish cities.

Lightware relocates HQ to HOP Technology Office Park in Budapest

Lightware Zrt., a leading company in the audiovisual technology sector, relocated its headquarters in February 2025 to Building 7 of the HOP Technology Office Park in Budapest. Developed by WING Zrt., the campus offers 7,000 square metres of space equipped with advanced infrastructure and sustainability-focused upgrades, now housing Lightware’s offices, logistics base, and product development centre.

The move followed a lengthy search, during which Lightware identified HOP as a location that fulfilled its key operational and technological criteria. Positioned on Hungária körút near Városliget, the centrally located office park offers a combination of accessibility, modern facilities, and a strong sustainability profile. Building 7, originally over 50 years old, underwent significant renovation to meet contemporary ESG standards. These updates included improved mechanical systems, upgraded windows for energy efficiency, and plans for a rooftop solar installation. The decision to modernize the existing structure instead of building anew contributed to a lower environmental footprint by preserving materials and reducing emissions.

Lightware transitioned into its new premises in phases. Manufacturing and logistics operations were established in the building in 2024, with the office and product development functions completed earlier this year. The adapted facility was designed to meet the company’s operational requirements, offering dedicated zones for logistics, manufacturing, and development teams, with room for future expansion.

According to Loránd Gál, COO of Lightware, the new headquarters reflect both the company’s operational needs and its commitment to sustainability. He highlighted the importance of locating in a redeveloped site that aligns with the company’s values, enabling efficient handling of materials and product distribution while offering an inspiring space for innovation.

Gábor Angel, Deputy CEO of WING Zrt., noted that Lightware’s relocation underscores the success of HOP Technology Office Park’s adaptive reuse strategy. With a current occupancy rate of 98%, WING plans to expand the park by an additional 40,000 square metres in phases to accommodate growing demand from companies in technology-driven industries.

Eston International represented WING during the leasing process. HOP Technology Office Park continues to attract a range of advanced manufacturing, IT, and R&D tenants, including Siemens Zrt., TÜV Rheinland, TK Elevator, Valeo, and Yunex Traffic. Approximately 70% of the park is already dedicated to Industry 4.0 companies, further establishing it as a key innovation hub in Budapest.

Stage II of Good Point V in Łubna receives BREEAM Excellent Certification

Warehouse 2, part of the second phase of the Good Point V logistics and production park in Łubna, has received a final BREEAM International New Construction V6 certificate with an “Excellent” rating. The building, which became operational in February 2025, achieved a score of 73.5% in the Post Construction Assessment phase.

Good Point V, owned by Real Management S.A., consists of three facilities—Warehouses 1, 2, and 4—covering a total area of approximately 30,000 square metres. The BREEAM certification process assessed the building’s environmental impact as well as the quality of conditions for users. Warehouses 1 and 4, developed in the project’s first phase, were also certified at the Excellent level in 2024.

The development was carried out by general contractor Bremer, with JWA serving as certification advisor. According to Eliza Wielgus, Senior Asset Manager at Real Management S.A., the certification for all buildings within Good Point V confirms compliance with high environmental and operational standards. She noted that the company is continuing to develop its internal Warehouse Building Standard as part of its broader ESG strategy.

Good Point V is situated adjacent to national road no. 79, offering direct access to Warsaw via Puławska Street and the Góra Kalwaria transport hub. Current tenants include Dr Irena Eris S.A. (Warehouse 1), Sales Service Sp. z o.o. (Warehouse 4), and Fulfilio Sp. z o.o. (Warehouse 2), each operating in sectors ranging from cosmetics and marketing services to e-commerce logistics.

HIH Invest Real Estate enters Austrian residential market with acquisition of Vienna’s Quartier11

HIH Invest Real Estate has entered the Austrian residential market with the acquisition of Quartier11, a modern residential complex in Vienna’s 11th district, Simmering. The property was acquired for an open-ended special AIF and marks the company’s first residential investment in Austria, aligning with its strategy to expand and diversify its European residential portfolio.

Completed in 2018, Quartier11 consists of seven buildings with a total lettable area of 17,388 square metres, including 16,508 square metres of residential space. The development also incorporates a 740 square metre kindergarten and a 140 square metre medical practice. The complex comprises 248 free-market rental apartments ranging from 43 to 140 square metres, primarily two- and three-room units, each with private outdoor space such as a balcony, terrace, loggia, or garden. With an occupancy rate of 99%, the asset provides immediate income stability and minimal vacancy risk.

The property features 151 underground car parking spaces, two motorcycle spaces, and 150 bicycle spaces. Additional amenities include dedicated storage areas for strollers and bicycles, a 1,200 square metre communal courtyard with two playgrounds, and urban gardening areas aimed at fostering community engagement and long-term tenant retention.

Alexander Eggert, Managing Director at HIH Invest, described the acquisition as consistent with the firm’s broader European strategy. “Quartier11 is a resilient, income-producing asset in a district with positive growth dynamics. We see strong fundamentals in the residential sector and are actively pursuing further opportunities in the region.”

The asset already meets high energy efficiency standards with A++ rated buildings, underfloor heating via district heating, and ground-source heat pumps for seasonal climate control. HIH Invest plans to further enhance the sustainability profile of the property through a series of upgrades, including the installation of photovoltaic systems, electric vehicle charging stations, LED lighting in common areas, a switch to green electricity, and a comprehensive recycling programme.

Sebastian Pende, Head of HIH Invest’s Vienna office, noted that the combination of affordability and sustainability made the asset particularly attractive. “With rental levels below €13 per square metre, Quartier11 offers accessible, energy-efficient housing in a fast-developing district. It demonstrates that sustainability and affordability can go hand in hand.”

Located on Simmeringer Hauptstraße, the development offers access to a wide range of retail and public services within walking distance. Public transport connections are strong, with nearby U-Bahn, S-Bahn, tram, and bus links. The area also offers leisure facilities such as swimming pools and sports centres, further enhancing its appeal to tenants.

The transaction was supported by a full due diligence team: DORDA Rechtsanwälte GmbH (legal), TPA Steuerberatung GmbH (tax), Alpha & Partner Consulting GmbH (technical and environmental), Otto Immobilien (commercial), and HIH Invest’s in-house ESG team. The seller was advised by ÖRAG’s investment team, who brokered the transaction.

First keys programme poised to boost social housing and institutional investment in Poland

The First Keys programme, designed to promote social housing and support financing for participation in Social Housing Associations (TBS) and Social Housing Initiatives (SIM), is expected to play a significant role in addressing housing accessibility in Poland. Its impact on the broader housing market will depend on the scale of institutional investment mobilised through TBS and SIM structures. Development companies anticipate that these initiatives could lead to a substantial increase in housing stock targeted at lower-income groups, thereby helping to ease pressure on the private rental and ownership markets. Insights into the potential scale of these investments and their expected influence on the sector are outlined in a survey conducted by real estate platform dompress.pl.

Tomasz Kaleta, Managing Director for Sales and Marketing at Develia
We predict that the First Keys programme will not have a significant impact on the market, partly due to the assumed limits on the price per square metre, which significantly reduce the pool of available flats, especially in the largest cities. Furthermore, the exclusion of the primary market from the programme means that its beneficiaries will be deprived of access to modern investments characterised, among other things, by higher energy efficiency.

As regards the possibility of TBSs and SIMs conducting development and flat sales activities, at this stage it is difficult to clearly assess the potential scale and impact of this solution on the market. The legislative details, project implementation criteria and rules of competition with the private sector will be key.

Mateusz Bromboszcz, Vice-President of the Management Board of Atal
The state’s housing policy should take into account various forms of construction, including non-commercial construction, i.e. municipal or social housing. This is because different groups of recipients have different expectations in this area. Some of them strive for full ownership, which is facilitated by subsidy programmes, while others, on the contrary, do not want to commit themselves to any long-term credit obligations, preferring renting or other forms of housing rights.

The current situation, in which housing construction rests largely on the shoulders of private developers and individual investors (houses), is not optimal. The polarisation and radicalisation of public opinion on housing issues will not make housing cheaper or more accessible, given the constantly rising costs of construction and, above all, land prices. Nor will imposing further burdens, requirements or mandatory solutions on the industry contribute to this.

Without a doubt, developers in Poland have the most experience in housing construction. We operate in accordance with the principles of economic calculation. It is difficult to assess whether the investment process in social housing would be more effective, as we do not know the detailed assumptions or the long-term development plan for this sector in Poland. Without this, forecasting the scale of social housing and its potential impact on the market is fraught with risk.

Damian Tomasik, President of the Management Board of Alter Investment
The First Keys programme has the potential to significantly influence the development of the housing market, but the details of its implementation and the mechanisms for distributing funds will be crucial. The very idea of supporting housing affordability, both through financing contributions to TBSs and SIMs and promoting social housing, is necessary. However, the commercial market, including developers and investors such as Alter Investment, will closely monitor whether market competition is distorted.

The idea of allowing TBS and SIM to engage in development activities with a margin of up to 25% is causing the most excitement and questions. This is, in effect, the entry of public institutions into the private market segment, with the advantage of access to cheap financing and public land. If there are no clear rules, this could lead to unhealthy competition, with private investors who bear the full market risk and cost of capital being squeezed out of key locations.

On the other hand, if the rules are clear and transparent, and the activities of these institutions are limited to specific, socially justified cases, the programme could complement the market rather than dominate it. A well-designed system of public-private partnerships (PPPs), where TBSs and SIMs cooperate with private investors in the implementation of investments, could bring real benefits to both parties and residents.

In terms of scale, in large cities where land is expensive and investment is fraught with risk and bureaucracy, the scope for action by SIMs and TBSs will be limited without cooperation with the market. However, in regional markets and smaller towns, where the housing shortage is equally serious but investments are less profitable for the private sector, the programme could play an important role.

In summary, the initiative has potential, but from an investor’s perspective, it will be crucial to ensure a level playing field, transparent rules and openness to public-private cooperation. Otherwise, we risk distorting the market instead of supporting it.

Andrzej Gutowski, Sales Director at Ronson Development
We believe that any initiative aimed at developing the housing market, whether it concerns the development, social or rental sector, can have a positive impact on its condition.

However, from our point of view, it is crucial that market development is based on a balanced approach covering all segments, both commercial and social. Consumers should have a real choice between buying a flat from a developer or taking advantage of social housing offers. This should be their individual decision, based on their needs and possibilities. That is why we support all solutions that increase the availability of different forms of housing.

As regards the legislative proposal, it is difficult at this stage to clearly assess the scale and impact of such a solution on the market. Practice will show whether and to what extent these assumptions will translate into real changes in the structure of housing supply. In our opinion, any well-planned and implemented initiative that responds to real housing needs can bring measurable benefits to the entire market.

Joanna Chojecka, Sales and Marketing Director for Warsaw and Wrocław at the Robyg Group
The First Keys programme introduces significant changes to the Polish housing system, particularly in the context of social housing and the activities of Social Housing Associations (TBS) and Social Housing Initiatives (SIM). Enabling these entities to engage in property development and sell flats with a margin of up to 25% may have an impact on the housing market. It may be a step towards increasing the availability of flats for people with average incomes. However, it will be crucial to ensure transparency in the buyer selection process and to monitor the fulfilment of social investors’ commitments. It will also be important to ensure adequate supervision of the quality of the investments.

It is estimated that under the First Keys programme, it will be possible to build around 15,000 municipal flats and implement investments by TBS and SIM. The scale of these investments will depend on the availability of land, the implementation capacity of TBS and SIM, and the interest of potential buyers. However, we do not believe that the programme will have an impact on the activities of developers in Poland, especially those with a strong, established position, as their offer will be targeted at a slightly different audience.

The First Keys programme aims to support people who cannot afford to buy a flat on the commercial market, mainly in the lower and middle price segments. Developers operating in the residential segment will not be directly exposed to competition from TBS and SIM. Developers with a strong position do not need to fear the direct effects of the programme’s introduction, but may be interested in other forms of cooperation with the public sector or in attracting customers who are looking for flats with slightly different criteria.

Anita Makowska, Senior Business Analyst at Archicom
The extension of the First Keys programme to include a component supporting participation in TBS and SIM may have a positive impact on the availability of housing for people with average incomes who are currently not eligible for municipal housing and at the same time have limited access to mortgage loans. Support for social housing can relieve pressure on the commercial market, but only if there is adequate financing and real implementation capacity on the part of investors.

Simplifying procedures, land availability and the involvement of local authorities will be key. The role of the state and local government in housing policy should be much greater in Poland. Today, it is primarily the private sector that is responsible for new investments. The possibility of TBSs and SIMs engaging in development activities with a margin of up to 25% seems controversial. Without a clear framework, this could lead to the commercialisation of the social sector. It will therefore be important to precisely define the conditions for such activities in order to maintain their complementarity with the private market.

Photo: ROBYG – Modern City

Eika Asset Management begins Nowy Modlin logistics park with Bricomarché

Eika Asset Management (EAM), the investment management arm of the Eika Group, has launched construction on a new logistics park in Nowy Modlin, located in the North Warsaw region. The first phase of the development will deliver approximately 28,000 sqm of modern A-class warehouse space, of which nearly 60% has already been pre-leased. The anchor tenant for the initial phase is Bricomarché, one of Poland’s leading home and garden retail chains, represented by SQM Advisory. The project is being developed by Waimea Holding, with Kajima Poland appointed as the general contractor.

The Nowy Modlin investment reflects EAM’s broader strategy to expand its presence in Poland’s logistics market, one of the most resilient in Europe. The first phase is set for completion in November 2025, and a second phase will follow, adding an additional 10,000 sqm of logistics space. The full development plan covers more than 117,000 sqm of warehouse and production facilities on a 23-hectare site, designed to support regional economic growth and offer tenants efficient, scalable infrastructure.

Paulius Stulgaitis, Head of Investments at Eika Asset Management, stated that the investment in Nowy Modlin aligns with the company’s long-term strategy of targeting locations that combine strong transport links, tenant demand, and the ability to meet evolving technical standards. He noted that the park exemplifies how strategic positioning and reliable partnerships can deliver lasting value to investors, tenants, and local communities.

Artur Filipiuk, Managing Director at Waimea Holding, highlighted that the project offers competitive leasing terms while meeting high technical and environmental standards. He emphasized the development team’s focus on delivering modern logistics space that meets the current and future operational needs of tenants.

Bricomarché, which operates nearly 220 stores across Poland, will serve as the key tenant for the first phase. Katarzyna Jańczak-Stefanide, General Manager of Bricomarché Poland, said the selection of the Nowy Modlin site was based on its strategic location, access to road and public transport infrastructure, and the high standard of the facility, including its 12-meter storage height and sustainable features. She described the warehouse as a critical component of the Muszkieterowie Group’s continued expansion in Poland.

The development is being built to meet BREEAM Excellent certification standards. A range of sustainable technologies will be integrated into the facility, including a 150 kWp photovoltaic system with capacity for expansion, solar thermal collectors, LED lighting with DALI controls, and fast-charging stations for electric vehicles and bicycles. Additional green features include water retention and infiltration systems, irrigation using recycled water, and biodiverse landscaping with flower meadows. Employee-focused amenities will include dedicated cycling infrastructure, covered shelters, and self-service repair stations.

The location benefits from excellent transport connectivity, lying 5 kilometers from Warsaw-Modlin Airport, 6 kilometers from the S7 expressway, and 3 kilometers from Modlin railway station. Local authorities have also committed to improved public transport links, including electric bus service and a planned roundabout to enhance site accessibility via the national road network.

The project is backed by secured financing from a leading Polish bank. The lease agreement with Bricomarché was facilitated by SQM Advisory, while legal services for Eika Asset Management were provided by CMS Poland. Waimea Holding is managing both development and leasing, with Kajima Poland overseeing construction delivery.

AFI responds to growing demand for fully furnished rental apartments in Prague

AFI, a major player in the rental housing market, is observing a shift in tenant expectations across its AFI Home portfolio. Increasingly, tenants are seeking fully furnished apartments that allow for immediate move-in without the added burden of furnishing a home from scratch. In response, AFI has expanded its offering beyond partially furnished units to include fully equipped apartments that come with everything from bathroom towels to dining table accessories. The aim is to provide a level of convenience where moving in is as simple as turning the key and bringing personal belongings.

Elena Pisotchi, rental housing manager at AFI, notes that although fully furnished apartments still make up a small percentage of the overall market, the scale of AFI’s portfolio—close to 900 units—makes the demand significant. She explains that many tenants want a ready-made solution that spares them the effort of purchasing everyday items like dishes, linens, and bedding. Since the start of the year, AFI has offered this service by request and has received consistently positive feedback.

This trend reflects broader changes in how people live and move. Where tenants once expected to furnish empty apartments themselves, many now look for homes that combine residential comfort with convenience more typical of hotel stays. Furnished units across AFI Home properties include not just furniture and kitchen appliances, but also home décor and accessories that create a fully livable environment from day one.

AFI’s approach extends throughout its residential portfolio, including locations in Karlín, Třebešín, and Kolbenova. Apartments at these sites are move-in ready and include modern amenities and services. At AFI Home Kolbenova, for example, residents benefit from access to a coworking centre, a self-service laundry with large-capacity machines, a local supermarket, and 24-hour reception. Property management and maintenance services are included as standard.

Fully furnished rental housing is particularly appealing to young professionals, expatriates, and individuals in transition, such as those relocating for work. These groups value the ability to secure a comfortable, fully functional living space without the time or financial investment typically associated with furnishing a home. AFI intends to continue expanding this model in its upcoming projects. Currently, 291 apartments are under construction as part of the AFI Home Nová Elektra development, and a further 519 are planned in the V Korytech project.

Zeitgeist Asset Management to oversee REICO’s first rental housing project in Prague

Zeitgeist Asset Management has been appointed to manage Residence Opatov, a new residential development in Prague 4 owned by the REICO ČS Nemovitostní fund. This marks REICO Investiční společnost Erste Asset Management’s first entry into the rental housing sector, having previously focused exclusively on commercial properties.

Zeitgeist will be responsible for managing the project through its construction phase and later for leasing and ongoing property management. The development, located adjacent to the Opatov metro station, will offer 171 rental apartments across twelve floors, ranging from studios to four-room units. The building will also include underground parking and storage spaces. Completion is expected in the first quarter of 2027, with a portion of the apartments planned to be fully furnished.

The project is situated within the Nový Opatov district, currently being developed by FINEP. The wider urban plan includes public amenities such as a park with water features, a promenade, bike paths, and a public square with retail and service outlets.

According to Zeitgeist CEO and co-founder Peter Noack, the company aims to apply its experience in managing both owned and third-party rental properties to ensure a smooth delivery and long-term operational success. Michal Nečas, Managing Director at Zeitgeist, highlighted the development’s accessibility and design as key strengths that are likely to attract a broad tenant base, including professionals and families.

Speedwell wins Best Overall Developer at the HOF Awards 2025

At the 10th annual Hall of Fame (HOF) Awards Gala held on May 13, 2025, at the Radisson Blu Hotel in Bucharest, Speedwell was honored with the “Best of the Best Overall Developer of the Year” award. This accolade recognizes the company’s exceptional contributions to Romania’s real estate sector.

Founded in 2014 by Didier Balcaen and Jan Demeyere, Speedwell has established itself as a leading real estate developer in Romania, delivering a diverse portfolio of projects across residential, office, and mixed-use segments. Notable developments include the MIRO office building in Bucharest, the Record Park mixed-use project in Cluj-Napoca, and the PALTIM urban regeneration project in Timișoara.

Speedwell’s commitment to sustainability is evident in projects like THE IVY, a residential development in Bucharest’s Băneasa area, which received green certification from the Romania Green Building Council. The company also launched The Meadows, a low-rise residential concept near Grivița Lake, emphasizing modern living in harmony with nature.

The HOF Awards, organized by CIJ Europe, celebrate excellence in the real estate industry across Central and Eastern Europe. Winners are selected through a transparent voting process that combines the insights of a distinguished jury of real estate leaders with votes from CIJ readers, ensuring a comprehensive evaluation of excellence in the field.

Speedwell’s recognition at the HOF Awards 2025 underscores its influential role in shaping Romania’s real estate landscape and its unwavering commitment to quality, innovation, and sustainability.

Ema Iftimie of Globalworth Romania wins Best Leadership Award at the HOF Awards 2025

At the 10th annual Hall of Fame (HOF) Awards Gala held on May 13, 2025, at the Radisson Blu Hotel in Bucharest, Ema Iftimie, Managing Director of Globalworth Romania, was honored with the “Best of the Best Leadership of the Year” award. This accolade recognizes her exceptional leadership and significant contributions to the commercial real estate sector in Romania.

With nearly 25 years of experience in real estate, Ema Iftimie has been instrumental in shaping Globalworth’s presence in Romania. Since her appointment as Managing Director on December 1, 2023, she has focused on enhancing operational efficiency, business development, and customer care. Under her guidance, Globalworth has achieved remarkable milestones, including leasing 100,000 sqm of office space in the first half of 2023, representing over half of the total market demand during that period.

Ema’s strategic vision has led to successful partnerships with prominent companies such as eMAG, Banca Transilvania, Honeywell, and Deutsche Bank. Her commitment to sustainability and innovation is evident in projects like Globalworth Square, which set new standards for employee-focused workplaces.

Beyond her professional achievements, Ema actively contributes to the community through her role as a board member of the Globalworth Foundation, supporting various CSR initiatives. Her dedication to excellence and impactful leadership have solidified her reputation as a leading figure in Romania’s real estate industry.

The HOF Awards, organized by CIJ Europe, celebrate outstanding achievements in the real estate industry across Central and Eastern Europe. Winners are selected through a transparent voting process that combines the insights of a distinguished jury of real estate leaders with votes from CIJ readers, ensuring a comprehensive evaluation of excellence in the field.

Ema Iftimie’s recognition at the HOF Awards 2025 underscores her influential role in shaping Romania’s commercial real estate landscape and her unwavering commitment to leadership excellence.

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