First phase of Le Jardin, LIVING’s greenest residential park, completed

LIVING has successfully completed the first phase of its flagship green residential development, Le Jardin, located in Rozsnyay utca, District 13. The project has received its final use permit, and the handover of 165 energy-efficient apartments with an A+ energy rating has commenced. This marks a significant milestone for LIVING, as Le Jardin stands as one of the greenest residential parks in Hungary.

Designed with sustainability at its core, Le Jardin is one of the first residential developments in Hungary to have obtained a BREEAM Very Good certification in the design phase, a testament to its commitment to environmentally friendly solutions. The development combines eco-conscious technology with modern living, offering residents a unique, energy-efficient living experience in a dynamic yet green environment.

Located next to the Rákos Stream, the residential park is surrounded by nature and features easy access to outdoor spaces via a walkway. Despite its tranquil setting, Le Jardin benefits from excellent connectivity, with the city center easily reachable by car and public transport. The Forgách utca metro station (M3) is a 10-minute walk away, and tram no. 14 stops just five minutes from the development. Active lifestyle enthusiasts will appreciate the nearby bicycle paths, while schools, playgrounds, and other amenities further enhance the appeal of the location.

Tibor Tatár, Head of Residential and Office Development at LIVING’s parent company WING, shared his excitement about the project: “The completion of Le Jardin’s first phase is a milestone in our history. This residential park is not only our greenest development but also one of the first to achieve BREEAM certification in Hungary. The sustainability of the development is reflected in its A+ energy rating, heat pump-powered heating, cooling, and hot water systems, and the modern ceiling heating technology installed in every unit.”

Le Jardin offers a range of units, from practical studio apartments to spacious five-room penthouses with panoramic views. Nineteen homes in the development have direct access to the garden. The underground parking garage contains 188 spaces, including 58 equipped with electric chargers. Residents will enjoy over 2,300 sqm of lawn space, with 45 newly planted trees enhancing the park’s green ambiance.

In addition to its sustainable features, Le Jardin provides innovative community and smart home solutions to enrich the living experience. The community services include a business corner, a communal living room, a BBQ area, a herb garden, and a car-sharing program, fostering a sense of connection among residents. Smart home technology is integrated into every unit, allowing for seamless control of appliances, with customizable options for those seeking advanced functionality.

LIVING also offers a range of services to ease property management through its professional service provider, LIVING Service. The company supports residents with everything from property management and renting services to interior design and loan intermediation.

With sales currently underway and limited availability, Le Jardin promises to be a unique and desirable living space in Budapest, combining sustainability, comfort, and modern technology in an eco-friendly environment.

UBM unveils model apartment at Timber Praha residential project

UBM Development Czechia has introduced a model apartment at its Timber Praha project, showcasing a unique blend of modern design and natural materials. Located in Prague-Reporyje, this newly completed residential development features buildings constructed with CLT (cross-laminated timber) panels, offering extraordinary energy efficiency (PENB A) and BREEAM Excellent environmental certification. The apartments are now ready for occupancy, with exclusive sales handled by Lexxus Norton.

The model apartment, covering 51.6 m² in the L building, emphasizes the warmth and comfort of natural materials. “The wood accents in Timber Praha make the interiors inherently warm and inviting, even without furnishings,” says David Lukas, Chief Architect of UBM Development Czechia. The apartment features natural wood ceilings and oak parquet floors, while practical plasterboard is used on the walls. Furnishings also follow a natural theme, with a palette that blends shades of brown, white, blue, and grey to harmonize with the wood.

The design of the apartment is unconventional, with the bedroom accessible via two sliding doors from the open living area, which connects seamlessly to the kitchen. The space is further enhanced by a 10 m² terrace that offers outdoor living opportunities, and large windows fill the apartment with natural light, creating a cozy and bright atmosphere.

The furniture in the model apartment reflects both quality and functionality. An Italian sofa from Ditre Italia adds a touch of color to the living room, while furniture from Slovak brand Javorina, known for its solid wood pieces, completes the space. The kitchen features veneered oak boards with white lacquered cabinets, a sleek granite countertop, and top-tier Electrolux appliances. The bedroom includes a bed with a wooden front and a built-in white wardrobe by Čochner Design.

The apartment is decorated with high-end accessories, including Spanish design vases, Bohemia Crystal glassware, and a bottle rack by Alessi. The bathroom includes fixtures from Hansgrohe, and the walls are adorned with art, including an original painting by a student from a secondary school of arts and crafts.

Timber Praha is part of the Arcus City development, a new residential district located near the borders of Řeporyje and Stodůlky. The district is designed with sustainability in mind, incorporating energy-saving elements like heat pumps, geothermal wells, photovoltaic panels, and a Smart Home system that regulates heating, cooling, and energy consumption. The apartments are also equipped with underfloor heating and cooling systems, making them comfortable year-round.

Each apartment includes a cellar, parking space in an underground garage, and either a balcony, terrace, or front garden. The project is set within a peaceful, family-friendly environment, surrounded by natural beauty, including the nearby Prokopské and Dalejské valleys and Řepora Biopark. Residents will also benefit from excellent transport connections, with a soon-to-be-opened bus stop providing access to the Stodůlky and Luka metro stations, just 20 minutes from the city center.

Josef Wiedermann, Managing Director of UBM Development Czechia, emphasized the uniqueness of the Timber Praha project, saying, “This is a truly one-of-a-kind development in the Czech Republic, offering sustainable living in a beautiful, serene environment.”

For those interested, UBM has prepared additional model apartments of various sizes, allowing prospective buyers to experience how different layouts can be furnished in a comfortable and inviting manner. Viewings can be arranged by appointment through Lexxus Norton.

INTREAL reports steady growth for Q3 2024, with bright outlook for year-end

INTREAL, a leading third-party AIFM in Germany’s real estate sector, continued to exhibit moderate growth in the third quarter of 2024, reinforcing its position as a prominent player in the industry. As of 30 September 2024, the company’s assets under administration (AuA) reached approximately €66.4 billion, reflecting a quarterly increase of €256 million, or 0.4%. Compared to the end of 2023, AuA saw a rise of over €738 million, or 1.1%, highlighting the company’s consistent performance amidst a fluctuating market.

INTREAL’s portfolio expanded during Q3, with the total number of properties under management rising to 2,717, an increase of seven properties since the end of June. Additionally, the number of funds managed by the company grew to 315, up from 305 at the end of 2023. Staff levels also rose, with 528 employees across the company’s offices in Hamburg, Frankfurt, and Luxembourg.

Camille Dufieux, Managing Director of INTREAL, expressed optimism about the company’s performance in 2024, despite the slower growth pace compared to previous years. “While the market has been more restrained, we are seeing signs of modest recovery, particularly in transaction activity and preparations for new investment funds. The focus has shifted towards individual funds and club deals involving well-known investment real estate, rather than large-scale blind pools,” Dufieux explained.

INTREAL’s Partner Funds division, the largest of its business units, accounted for over 54% of the company’s total AuA, which reached approximately €36.1 billion by the end of Q3 2024. This division saw an increase of €251 million in AuA between mid-year and the end of September, with a total increase of €730 million year-to-date. The division provides comprehensive services for launching and managing alternative investment funds (AIFs), supporting asset managers and property developers without AIFM licenses.

In INTREAL’s second major business line, the AIFM Services division, AuA amounted to €30.3 billion by 30 September 2024, with a total of 160 funds under management. This division offers administrative services, including reporting, controlling, fund accounting, and risk management, to other licensed AIF management companies.

With continued growth in its key business divisions and a positive market outlook, INTREAL is positioned for a strong finish to 2024. The company’s diversified portfolio and expertise in fund management and administrative services continue to drive its success in a dynamic real estate market.

Brookfield and Segro announce €470 million deal to split Tritax EuroBox

In a significant move within the European logistics and industrial real estate market, Brookfield Asset Management and Segro have announced an agreement to split Tritax EuroBox, the pan-European logistics specialist, in a transaction valued at approximately €470 million. The deal, aimed at boosting both firms’ portfolios in Europe, involves the division of Tritax’s assets, marking a strategic expansion for Brookfield and Segro in high-demand logistics real estate across key European markets.

Under the terms of the agreement, Brookfield will acquire roughly half of Tritax EuroBox’s prime assets, enhancing its logistics footprint across Europe amid a sustained e-commerce boom and increased demand for large-scale distribution centers. Segro, a UK-based real estate investment trust and leading developer of logistics facilities, will take over the remaining assets, strengthening its position as one of Europe’s largest logistics property owners.

The assets being split between Brookfield and Segro include Tritax’s strategically located logistics sites across Germany, Spain, Italy, and the Netherlands. These markets have seen rapid growth in demand for high-quality logistics space, driven by the expansion of online retail and the evolving supply chain needs of major corporations. For Brookfield, this acquisition aligns with its strategy to deepen its reach within European logistics, a sector it has identified as one of its highest-growth investment areas.

Segro, which has a significant existing portfolio across Europe, expects this acquisition to complement its existing assets and expand its client offerings, particularly in the core European logistics corridors. The company has been focused on sustainable development, and Tritax’s modern, high-quality assets are expected to integrate well with Segro’s existing portfolio.

Tritax EuroBox was created to capitalize on Europe’s rapidly evolving logistics sector, which has experienced record demand due to structural shifts in consumer habits, particularly post-pandemic. The €470 million deal between Brookfield and Segro signals continued confidence in the sector’s growth potential despite broader economic uncertainties.

Analysts view the transaction as indicative of a wider trend among institutional investors targeting logistics and industrial assets, seen as more resilient against economic downturns due to stable cash flows from long-term leases with creditworthy tenants.

For both Brookfield and Segro, the split of Tritax EuroBox underscores an optimistic outlook on logistics real estate in Europe, where vacancy rates remain low, and rental growth has outpaced other property segments. With both companies emphasizing sustainable operations, the deal also reflects an industry-wide push toward greener logistics solutions.

This acquisition represents a bold strategic step for Brookfield and Segro, poised to reshape the European logistics real estate landscape by reinforcing their presence in major logistics hubs. The deal is expected to close following regulatory approvals, with both companies planning to announce further integration strategies for the assets in the coming months.

Linkcity launches one of Czech Republic’s first regional residential timber buildings in Pardubice

Linkcity, with support from parent company Bouygues Construction, has begun construction on one of the Czech Republic’s first residential timber buildings outside Prague. The multi-story structure will be part of the final phase of the Nová Tesla district in Pardubice, transforming a former brownfield site into a sustainable urban hub. As wood construction remains relatively new in Czech regions, Linkcity’s initiative marks a significant step toward sustainable building practices in the country.

Kristýna Zavrtálková, CEO of Linkcity, emphasized the environmental benefits of timber buildings, stating, “Wood construction is a critical step toward a sustainable future. Wood absorbs carbon dioxide, helping reduce the carbon footprint by up to 20% compared to concrete buildings. Its thermal properties also reduce heating costs.” She noted that timber interiors contribute to a healthier environment, naturally regulating humidity, lowering stress, and enhancing productivity.

The three-story residential building at Nová Tesla will use 152 Cross-Laminated Timber (CLT) panels, reducing the construction timeline by nearly six months. The structure will house 11 modern apartments, featuring natural wood elements like exposed CLT ceilings, larch paneling, and large wooden windows. Situated near the Chrudimka River, the project offers easy access to the city center, nearby parks, and cycling paths.

Bouygues Construction, Linkcity’s parent company, has been a global leader in timber construction, with specialized subsidiary We Wood advancing wood building technologies worldwide. Clément Duclos, Deputy CEO of Linkcity, highlighted the company’s commitment, saying, “We’re proud to bring our expertise to the Czech Republic, where renewable materials represent the future of construction, supporting environmental goals and enhancing residents’ quality of life.”

The Czech government has set a goal for public projects to incorporate 20% timber, in line with its Raw Materials Policy. Linkcity’s Pardubice project is part of a broader vision to use timber in various sectors, including public buildings, schools, and commercial properties, contributing to a greener future for Czech real estate.

Photo: Weidmatt Lausen 2020 LM ©Upperview Productions

Will the Polish government’s DOM Portal with housing prices prove useful to buyers

The draft amendment to the Real Estate Development Act envisages the creation of a DOM Portal to increase the transparency of the market in terms of, among other things, the transaction prices of first- and second-hand flats. How do developers assess this idea? To what extent can the portal really help buyers?

Tomasz Kaleta, managing director of sales and marketing at Develia
Until we know the details of the DOM portal, including its design and, above all, the quality of the data and the way it is presented, it is difficult to make a clear opinion on it. According to its assumptions, the portal is supposed to present appropriately aggregated statistical information on residential real estate transaction prices, however, preventing the identification of details of specific transactions. This type of quarterly data for individual cities is already published by, among others, the National Bank of Poland.

Easier access to data will certainly be helpful not only for buyers, but also for developers. However, I do not think that the mere availability of this data will have an impact on the reduction of housing prices. Property prices are volatile and market-dependent, and the purchase process from the moment of booking a flat, during which the price is ‘frozen’, to the signing of the developer’s contract can take several weeks to several months. Therefore, the data available on the portal may not be fully up-to-date.

In addition, the price of a particular flat within a single development depends on several factors, such as the layout of the rooms, the area, the floor, the orientation with respect to the world, or the size of the balcony or terrace. As a result, the price per square metre of a flat may differ by up to 6 thousand within the same development. Differences in finishing standard and sales policy between neighbouring projects should also be taken into account.

Mateusz Bromboszcz, vice-president of Atal
We are one of the few developers who openly inform about flat prices on the websites of their investments. This simplifies the purchasing process, allows customers to choose the unit best suited to their possibilities and to plan financing. A database facilitating price comparisons in a specific location may be useful, but insufficient without an analysis of the other characteristics of a given property. This is because individual investments differ in terms of standard, scale and many individual parameters, such as energy efficiency.

I am of the opinion that price transparency is a good market standard, but it is difficult to expect property prices to suddenly fall after the introduction of the planned instrument. Only bidders, especially those operating in the secondary market, will realise their initial expectations.

It will be easier to assess the effects, as well as the obligations towards developers, related to the implementation of the tool at a more advanced legislative stage, when the specific solutions and requirements are known.

Agata Zambrzycka, sales and marketing director at Aurec Home
The draft amendment to the Development Act assumes that the DOM portal will enable the comparison of housing offers with actual transaction prices, supporting informed purchasing decisions. It will also assist companies, including us developers, in planning investments and public institutions in analysing and adapting housing support tools. The portal is expected to generate statistics on the housing market, such as the number of transactions, property prices and the demographic profile of buyers.

However, regardless of whether the planned changes will actually improve the housing situation in Poland, they will certainly introduce additional, broad powers for public administration bodies, as well as for the Insurance Guarantee Fund, in terms of obtaining information on real estate market transactions.

Zuzanna Należyta, Commercial Director at Eco Classic
The DOM portal is a good solution and we support its creation, provided, of course, that ‘at the end of the day’ it does not turn out that reporting is so labour-intensive for developers that they have to create new jobs.

Andrzej Gutowski, Sales Director of Ronson Development
We have been operating on the Polish market for over 24 years. We support all initiatives that increase the transparency of the industry. We are committed to transparency, believing that access to reliable information strengthens clients’ trust and raises standards in the entire sector.

We view positively the idea of creating a DOM Portal to publish transaction prices in the primary and secondary markets. This portal can help buyers make more informed decisions by providing them with a better insight into current market conditions.

Joanna Chojecka, sales and marketing director for Warsaw and Wrocław at Grupa Robryg
Increasing the availability of housing for Poles is very important and any solution that increases transparency in the residential property market is vital. How this idea is implemented will of course be key, but I am convinced that developers will be happy to engage with the government on this issue.

Marcin Michalec, CEO of Okam Capital
At this stage, we still know too little about the final shape of the DOM Portal project. In its outline form, it seems to be an interesting initiative that could further improve the transparency of the residential property market from the buyers’ point of view. It would be a tool to support informed purchasing decisions, based on the prices of units on the primary and secondary markets gathered in one place and providing the possibility to compare them. At the same time, for developers and sellers of flats, this would involve reporting sales data to the portal.

Anita Makowska, Senior Business Analyst at Archicom
The draft amendment to the Development Act, which assumes the creation of the DOM Portal, is a step towards greater transparency of the real estate market, which may bring benefits, both for buyers and developers. Access to transaction prices in the primary and secondary markets will certainly facilitate more informed purchasing decisions. However, the proposed method of presenting prices based on a minimum of six transactions raises doubts, especially in smaller cities where the number of transactions may be limited, making it difficult to obtain representative data as a result.

In addition, the failure to take into account the standard of the property, especially in the secondary market, may lead to an incomplete picture of the value of the offers presented. The long period between the conclusion of a contract on the primary market and the delivery of the premises may also prove problematic, with the result that the transaction price may not always reflect current market realities.

The portal can be a useful tool, especially for more experienced market participants. However, without proper education of users, who may not be familiar with the subtle differences between the offer price, the transaction price and the market price, we run the risk of potential buyers misinterpreting the information.

Damian Tomasik, CEO of Alter Investment
The draft amendment to the Development Act, which assumes the creation of the DOM Portal, may bring significant changes to the real estate market, both at the level of transactions and transparency of the entire purchasing process.

From a land developer’s perspective, such a portal indeed has the potential to increase access to information on actual transaction prices in the primary and secondary markets. Offering access to such data will have a positive impact on market transparency, which can help buyers make more informed decisions. Price transparency is also a factor that can reduce uncertainty among buyers, especially at the bid comparison and negotiation stage.
In terms of developers’ responsibilities, the DOM Portal is likely to involve the need to report more data on sold properties. This may require adapting reporting processes and working with the administration to ensure compliance with the new regulations. For us as a land developer who deals with investment projects from the ground up, the new obligations may require additional work in the area of documentation and market monitoring which will have an impact on the cost of our business and therefore on housing prices, but in the long term they may contribute to stabilising the real estate sector.

Despite the potential administrative burdens, I believe that the implementation of the DOM Portal could prove beneficial, both for developers and buyers, as transparency and availability of data are key to building trust in the property market. In this way, the project can also help to increase competitiveness in the market, which will ultimately improve the quality of the products and services offered.

Source: dompress.pl
Photo: Cavallia, BPI

Carrier extends lease at Warsaw’s Konstruktorska Business Centre

Carrier, a global leader in heating, ventilation, and air-conditioning solutions, has renewed its lease for another six years at the Konstruktorska Business Centre in Warsaw’s Mokotów business district. The company will continue to occupy over 500 sqm on the second floor of the building, owned by Golden Star Group.

Known for pioneering modern air conditioning, Carrier operates as part of Carrier Global Corporation, delivering innovative climate and energy solutions worldwide. The company employs over 53,000 people across 51 manufacturing plants and 39 research centers globally. Its Polish headquarters have been based in Konstruktorska Business Centre since 2013.

Ewa Dragunajtys, Senior Leasing Manager at Golden Star Estate, expressed pride in Carrier’s renewed commitment, noting, “We strive to create a safe, comfortable, and inspiring workplace for our tenants, and we’re pleased to see this reflected in their satisfaction. We thank Carrier for their trust and wish them continued success.”

The renewal was facilitated by Cushman & Wakefield, which advised Carrier during the negotiation process.

Konstruktorska Business Centre, a seven-story, Class A office building, offers a total leasable area of 49,500 sqm. It boasts one of the region’s largest floor spaces at 7,000 sqm, along with energy efficiency credentials backed by a BREEAM “Very Good” certification. The building features two internal courtyards, 1,050 parking spaces, and facilities for cyclists. Located about 15 minutes from downtown Warsaw and 10 minutes from Chopin International Airport, the center’s strategic location and amenities have attracted tenants like Procter & Gamble, MoneyGram, and Sunday Polska.

CTP builds 30,000 sqm of distribution space for Redcare Pharmacy

CTP today began the construction of a new distribution centre of more than 30,000 sqm at CTPark Blatnice in the Czech Republic for Redcare Pharmacy. The building is scheduled for completion in July 2025.

Redcare Pharmacy N.V. is the leading e-pharmacy in Europe, currently active in seven countries: Germany, Austria, France, Belgium, Italy, the Netherlands and Switzerland. Today, Redcare Pharmacy offers almost 12 million active customers a wide range of more than 150,000 products at attractive and fair prices. This logistics centre is being developed to serve the Austrian market of Redcare Pharmacy and deliver orders faster in the future to their customers in Austria.

“We are thrilled to be able to develop such an important project together with Redcare Pharmacy. CTPark Blatnice will provide an optimal environment for development thanks to its modern facilities and strategic location, as well as our speed and expertise in delivering large and technically challenging projects. The emphasis on sustainability and innovative technologies such as heat pumps or photovoltaic panels show CTP’s commitment to ESG as a long-term owner of industrial and logistics real estate, said Jakub Kodr, Head of Business Development CTP Czech Republic.

“Finding a partner who understands the specific needs of the pharmaceutical industry was crucial for us. CTP not only has experience in this sector, but offered us premises with a high standard of sustainability and technologies that ensure safe and efficient storage of pharmaceuticals. We look forward to working together and successfully delivering this project,” comments Theresa Holler, COO and responsible pharmacist of Redcare Pharmacy.

The project is characterized by its emphasis on sustainability and modern technologies, which are required for the storage standards of pharmaceutical products. The warehouse will be equipped with indoor climate control and innovative technologies such as ground-to-air heat pumps, thermal sensors or special protective films on the skylights to ensure optimal indoor temperature control and protect the space from overheating. Such a concept guarantees that the warehouse and pharmacy operations will meet the strict standards and regulations of the State Institute for Drug Control (SÚKL).

CTP is focusing on the use of renewable energy sources in the project, including the planned installation of photovoltaic panels on the roof of the building. In addition, the project includes electric vehicle charging stations, advanced technologies for rainwater retention and reuse, and biodiversity measures such as pools, lizard houses and habitats to protect local fauna.

CTPark Blatnice is a modern logistics park located directly on the D5 motorway, 17 km from Pilsen and only 7 km from the container terminal in Nýřany. The park offers excellent conditions for domestic and international logistics operations. It currently occupies an area of 58,600 sqm with a planned expansion of another 20,748 sqm. Thanks to its proximity to technical universities and good connections to transport infrastructure, the park is also well placed to attract a skilled workforce.

Is the logistics industry ready for 2/3 of occupiers targeting net zero carbon in 5 Years?

Panattoni has co-authored a major report which examines key sustainability metrics and indicators for businesses operating within the logistics and supply chain sector.

The most important factor driving sustainability activity for European logistics businesses is the desire to make a positive environmental impact, according to the report. The need to meet regulatory and legislative requirements is less of a driver of action, acknowledging that logistics operators, retailers and manufacturers are much more in step and aware of the sustainability requirements being made of their companies.

The third European Logistics & Supply Chain Sustainability Report, produced this year by Panattoni, HFW, the international law firm, Pledge, the sustainability software platform and Analytiqa, the research specialist, places sustainability in the context of financial pressure on supply chains as a key theme. European supply chains continue to operate in challenging market conditions and the return to ‘normal’ trading post-Covid has still not been fully realised.

The report shows that that there is a growing willingness among logistics businesses to operate out of green buildings and to pay a rental premium for a green building, but invariably with an eye on cost savings – 42% of companies would be willing to pay a rent premium equivalent to the total operating cost savings to move operations to a ‘green’ building from a standard ‘non-green’ building.

Almost two-thirds of logistics businesses remain challenged by the financial cost of sustainability solutions and more than half suggest that lower costs of implementing sustainability solutions would improve their company’s future sustainability efforts, the report adds. It is likely to be smaller companies, with fewer resources available to devote to sustainability, that are less likely to have sustainability programmes in place, or an understanding of their obligations to report emissions or the emissions associated with their products or services.

The availability of financial incentives, such as grants and subsidies, are seen as an important factor to encourage companies to improve the future sustainability. Almost one in five companies state that they would be willing to pay extra for environmental certifications, because it adds value to their sales efforts and just 16% of respondents either do not know, or would not be willing to pay a rent premium to move operations

to a ‘green’ building. Only 13% of respondents either do not know, or would not be willing to pay a premium to move transport operations to a ‘green’ fleet.

Emilia Dębowska, Head of Sustainability Europe at Panattoni, said: “The challenge of defining or measuring financial returns on sustainability measures has decreased, despite financial constraints and the fact that these efforts often lead to higher investment costs. It may indicate progress in the ability to quantify the benefits of sustainability efforts or to understand the positive impact of the transition over the longer term”.

Other key findings of the report include:
• Making a positive environmental impact by landscaping trees, lawns and biodiversity is notably more important amongst respondents this year, as is investing in battery storage (for onsite renewable energy generation), especially for logistics operators
• Energy-saving solutions remain the most important sustainability feature for a company’s warehouse operations, whilst the provision of electric vehicle charging points, with many new warehouse specifications now incorporating these as ‘standard’, is seen as increasingly important
• Elements of uncertainty remain, however, and companies are still demanding greater clarity from both industry and at a government level regarding future fuel choices, new technologies and the cost of alternative solutions to facilitate decarbonisation targets of road fleet operations

The report, which drew responses from 102 logistics businesses, including logistics service providers, manufacturers and retailers, working across 16 European countries, examines key ESG metrics and indicators for businesses operating within the logistics and supply chain sector, including the key relationship between financial costs and sustainability.

The findings also show a steady increase in the inclusion of sustainability targets in contractual agreements, with 33% of companies (up from 32% last year and from 28% in 2022) incorporating such goals as binding obligations. Matthew Gore, Partner at HFW, said: “In 2024, we see a growing trend of companies embedding sustainability targets as formal obligations in contracts. Notably, more than half of respondents insist on the right to terminate agreements if these targets are not met. This reflects a shift towards holding service providers accountable for their sustainability performance”.

Union Investment acquires Newtown Gardens residential complex in Dublin

Union Investment has officially taken over the newly completed Newtown Gardens residential development, located in Blackrock, a prime suburb in southern Dublin. This addition joins the portfolio of the UniImmo: Deutschland, an open-ended real estate fund, after the acquisition agreement was set in motion in 2022. The purchase was arranged through a forward deal with Glenveagh Properties, a prominent Irish residential project developer.

Positioned in one of Dublin’s most desirable residential areas, Newtown Gardens includes five detached apartment blocks totaling 124 residential units. The development also boasts an underground car park with 68 spaces, complemented by an additional 18 outdoor parking spots at ground level. The apartments are primarily one and two-bedroom units, catering to the growing demand for modern, high-quality living spaces in Dublin.

“We expect Newtown Gardens to attract significant demand given its outstanding build quality and highly desirable location,” stated Friedrich Warmbold, Head of Investment Management Residential at Union Investment. “Blackrock is recognized as one of Dublin’s most sought-after residential addresses, benefiting from close proximity to Blackrock Village, Sandyford Business Park, and excellent public transportation links to Dublin city center.”

This acquisition marks Union Investment’s third residential property in the Dublin area, reinforcing its expansion in the Irish residential market. The company first entered the market in 2021 with the acquisition of “8th Lock,” another residential development located in northwest Dublin. Today, Union Investment’s Irish residential portfolio totals approximately 700 units across three complexes, all strategically situated in the Greater Dublin Area, supporting the fund’s growth strategy and commitment to high-demand residential markets.

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