Budimex Mobility eyes expansion with nearly 500 new e-car charger locations

Budimex Mobility, the electric vehicle (EV) charging division of Budimex Group, is preparing to significantly expand its network with nearly 500 potential new charging station locations currently under review. The company already operates 170 active chargers and anticipates reaching 460 stations by the end of 2026, according to Cezary Łysenko, Board Member and Director of Infrastructure Construction.

“Today, Budimex Mobility operates 170 active chargers, including both AC and high-speed DC chargers,” said Łysenko in a press conference. “We are seeing greater demand for DC chargers, so we are transitioning some AC stations to DC to meet this need. Currently, we are evaluating nearly 500 new sites for expansion.”

Łysenko added that Budimex is considering partnerships with external investors to fund further mobility projects, given the capital-intensive nature of the business. The company projects its EV charging network will reach profitability around late 2026 or early 2027.

Budimex, a prominent player on the Warsaw Stock Exchange and part of the WIG20 index, is majority-owned by Spain’s Ferrovial. In 2023, the company reported consolidated revenues of PLN 9.8 billion.

Source: Budimex Mobility and ISBnews

Emotional farewell as Czech Airlines ends flights under iconic code OK

In an emotional farewell, the final Czech Airlines (CSA) flight landed at Prague Airport late Saturday night, marking the end of nearly a century of operations under the iconic code OK. Arriving from Paris just before midnight, the fully booked flight was met by dozens of aviation enthusiasts, former employees, and members of the public who gathered to commemorate the airline’s legacy.

Among the passengers was Michal Pupcsik, who flew to Paris specifically to experience the final CSA flight. “I’m completely moved now,” Pupcsik said upon arrival, recalling the captain’s emotional message to the passengers, urging the Czech people to remember the importance of the airline’s legacy. Similarly, frequent flyer Petr Lang, who also booked a seat on the flight, expressed disappointment that the traditional “Vltava” tune was not played upon arrival, a hallmark of CSA landings.

A crowd of onlookers watched from the observation deck, many clapping and waving as the plane touched down. Former steward Jiří Veselovský, who served CSA for over 40 years, described it as a “funeral for the CSA we remember,” joined by ex-colleague Daniela Koláčová, who reflected on the company’s struggles in recent years. Fans, including Mr. Jaroslav from Plzeň, also came to witness what he called a “milestone, albeit a sad one.”

With this final flight, CSA operations will be fully transferred to its parent company, Smartwings, which will use its own code, QS, though CSA’s logo and branding will remain. Founded in 1923, CSA was one of the world’s five oldest airlines. Following financial turmoil and changes in ownership, the airline has now been fully integrated into the Smartwings Group.

The farewell was also marked by the Czech Civil Aviation Authority, which flew the national and European Union flags at half-mast in honor of CSA’s long legacy in Czech aviation.

Source: CTK

Czech older property prices surge amid rising demand and accessible mortgages

The Czech real estate market has seen a continued rise in the price of older properties throughout the third quarter of 2024, largely driven by increased demand and improved mortgage availability. Apartment prices climbed by an average of 11% year-on-year and 5% since the previous quarter, with regional areas seeing the highest surges in prices, outpacing traditionally popular locations, according to data from real estate platform Bezrealitky.cz.

The average price of older flats in Prague reached CZK 128,000 per square meter, marking a 1% quarterly increase and a 9% jump from last summer—equivalent to the price of new-build apartments in the capital. In the Central Bohemian Region, flat prices surged 6% from the second quarter and 9% year-on-year, crossing CZK 80,000 per square meter for the first time. Meanwhile, in Brno, prices climbed to around CZK 94,000 per square meter, up 9% quarterly and nearly 16% annually.

Notable regional hikes were recorded, with six areas experiencing double-digit percentage increases. The Ústí nad Labem region saw prices rise by 20%, followed by Liberec at 18% and České Budějovice at 17%. Year-on-year, flats in the Moravian-Silesian and South Bohemian regions have become more than a quarter more expensive. Bezrealitky analysts attribute these surges to pent-up demand from weaker housing activity earlier in the year.

Single-family home values also rose significantly, up by 10% compared to last year and 1% quarter-on-quarter, though some regions saw slight declines. Home prices fell by 2% year-on-year in both the Ústí nad Labem region and Vysočina, while Pardubice and Olomouc saw increases of nearly 33% over 2023, with values in Moravian-Silesian and Plzeň regions up by a quarter.

Rising property values have also put pressure on the rental market, which has seen a marked increase in interest this year. Demand for rentals traditionally cools in summer but remained high, continuing into the start of the fourth quarter without seasonal dips.

“Rental price maps are being completely rewritten,” said Bezrealitky director Martin Ponzer. “Over the past five years, monthly rent for a 65-square-meter apartment has risen by over CZK 6,000 in Prague, CZK 5,000 in Brno, and CZK 4,300 in Central Bohemia. The country is moving toward the Western model, where rent makes up over half of household expenditures.”

Demand in Prague remains high, with about 73 people vying for each rental apartment. The city saw rental prices increase by 5% this quarter, averaging CZK 386 per square meter. In Brno, rental rates rose by 6% to CZK 301 per square meter, with 35 applicants per unit, while Central Bohemia saw a 5% increase, reaching CZK 271 per square meter.

Source: CTK

Poland: Economic outlook dims as forward-looking indicator drops, new orders decline

The Forward Looking Indicator (WWK), a key economic measure forecasting future trends, slipped by 0.2 points in October 2024, marking a continuous decline since the start of the year. Cumulatively, the index has dropped by 1.5 points, underscoring a persistently bleak economic outlook.

A key factor driving this downturn is the ongoing decrease in new manufacturing orders, affecting both international and domestic markets. With sluggish economic activity across much of Europe, foreign demand has weakened, while signs of shrinking domestic demand—previously a growth engine—are also emerging. The hardest-hit sectors include metals, machinery and equipment, electronics, and textiles.

This reduced demand has led to an unusual surge in the stockpiling of finished goods. Despite months of efforts to reduce inventories and scale back production, companies are finding their warehouses unusually full. This inventory build-up is particularly concerning, as firms typically clear out space in anticipation of holiday production needs. The implication is that further production cuts may be on the horizon.

While industrial output remains weak, there has been a slight improvement in the financial outlook among manufacturing companies. Some firms have adapted to cost pressures from minimum wage increases, while downsizing inventory has helped lower operating costs. However, sentiment remains largely negative, with over 15 percent of companies reporting financial deterioration compared to those seeing improvement.

Business leaders across the sector also express a grim outlook for the broader economy, resulting in a cautious approach to investment. This year and next, most firms plan to rely on their own funds for capital expenditures, with only 25% seeking bank loans to supplement financing.

The M3 money supply saw a modest rise compared to last month, though it has largely stagnated this year. Corporate investment remains low, as reflected in muted demand for business loans. While household borrowing is relatively stronger, mortgage interest has dipped significantly since June, indicating broader financial caution among consumers.

Panattoni Park Bolesławiec welcomes first tenant, Toyota Boshoku Poland

Panattoni has officially inaugurated its newly constructed 50,300 sqm logistics park in Bolesławiec, Lower Silesia, with Toyota Boshoku Poland signing on as the first tenant. The automotive supplier will occupy a 6,500 sqm warehouse in the development, strategically located near Toyota Boshoku Poland’s headquarters to facilitate efficient logistics and operations.

Toyota Boshoku Poland, a subsidiary of the global Toyota Boshoku Group, specializes in the production of car seats, components, and interior fittings. The company’s choice to establish a warehouse at Panattoni Park Bolesławiec reflects both the location’s proximity to its main production center and its access to critical transport routes for markets in Western Europe. The warehouse will enhance Toyota Boshoku’s ability to support nearby production facilities and expedite the movement of products across borders.

“Leasing space in Park Bolesławiec is essential to meet our logistics needs,” said Kamil Suchorski, Vice-President of Toyota Boshoku Poland. “The location’s proximity to our main factory—where we produce parts for over 500,000 vehicles annually—combined with excellent road links, makes it ideal for managing our supply chain efficiently.”

Damian Kowalczyk, Development Director at Panattoni, celebrated the partnership: “We are thrilled that Toyota Boshoku Poland has chosen Panattoni Park Bolesławiec. This lease aligns with our strategy to deliver modern warehouse solutions in prime locations. Lower Silesia is increasingly viewed as a gateway to Europe, and our facilities are becoming vital links in the logistics chains of global players.”

Panattoni Park Bolesławiec offers exceptional road connectivity, located just 50 km from the German border via the A4 motorway toward Dresden and 80 km from the border via the A18 toward Berlin. The park is equipped with 184 parking spaces for cars, twelve HGV spaces, and 91 loading docks, making it an ideal site for logistics, e-commerce, and manufacturing enterprises looking to expand their European footprint.

Mateusz Gessler extends lease for ĆMA and Warszawski Sen at Hala Koszyki for five more years

Renowned restaurateur Mateusz Gessler has renewed the lease agreements for his acclaimed Warsaw eateries, ĆMA and Warszawski Sen, securing their place in Hala Koszyki for another five years. Both restaurants, fixtures in the iconic Hala Koszyki since its launch, recently celebrated eight years of serving Warsaw’s food lovers and cultural enthusiasts.

Hala Koszyki, Poland’s pioneering food hall, has established itself as a culinary and social landmark in Warsaw, attracting locals and tourists alike with its unique mix of dining experiences. Combining food, art, and atmosphere, Koszyki has redefined the city’s gastronomic landscape. Gessler’s restaurants, which have been integral to this evolution, are widely recognized for shaping Warsaw’s contemporary food culture. The renewal reflects a continued partnership between Hala Koszyki and Gessler, along with his co-managers Łukasz Henryk Sagan and Joel Birman.

“I’m thrilled to remain part of this innovative project that has transformed Warsaw’s dining scene,” said Gessler. “We approach each day with the same passion we had at the beginning, constantly seeking new ways to delight our guests and make their time with us memorable.”

ĆMA, a 24-hour restaurant inspired by urban cuisine, will soon undergo a renovation aimed at appealing to a new generation of patrons, including Gen Z diners. With its compact 122-square-meter space, ĆMA has built a loyal following by merging modern aesthetics with Polish culinary traditions, offering a unique venue for both dining and conversation.

Meanwhile, Warszawski Sen, a 280-square-meter venue designed with sleek, dynamic interiors, offers a modern Polish menu developed by Gessler and head chef Robert Kondziela. The space, which hosts events for up to 100 guests, provides patrons with a full sensory experience, blending culinary and visual artistry.

Piotr Krowicki, Marketing Manager of Hala Koszyki at Globalworth Poland, praised Gessler’s contributions: “Through ĆMA and Warszawski Sen, Mateusz Gessler has helped craft the unique atmosphere that defines Hala Koszyki. We share a vision of creating a space that combines culinary, artistic, and social experiences, honoring local flavors and traditions while keeping pace with the city’s vibrant pulse.”

Hala Koszyki is currently expanding its food and beverage offerings, with renovations planned for Tuk-Tuk, a Thai restaurant, and Curry Leaves, a celebrated Indian eatery. These upgrades are part of Koszyki’s commitment to evolving alongside Warsaw’s dynamic culinary scene.

The venue’s impact extends beyond dining, as demonstrated by recent accolades. Hala Koszyki was a finalist in the 2024 Food Business Awards and was recently awarded the Superbrands Emblem for the second time, underscoring its status as a trusted and beloved destination. Additionally, Koszyki hosts an ongoing calendar of festivals, concerts, and themed events, enhancing its role as a community hub where Warsaw’s diverse crowd can meet, enjoy, and be inspired.

For eight years, Hala Koszyki has remained a magnet for unique culinary experiences, and with Gessler’s extended commitment, it’s set to remain a cornerstone of Warsaw’s gastronomic and cultural landscape.

Germany: Residential real estate sentiment rises amid mixed office outlook

In an encouraging shift, the real estate market sentiment for residential property has brightened, with investor optimism edging higher compared to the previous year. Institutional investors, asset managers, and other stakeholders expressed growing confidence in apartment buildings and condominiums, with expectations set for price increases in these segments over the next year, according to the 2024 sentiment survey by RUECKERCONSULT, commissioned by HIH Invest Real Estate and Ypsilon Steuerberatungsgesellschaft. The survey, drawing responses from 161 real estate market players, highlights a year-over-year improvement in market sentiment while remaining slightly in negative territory overall.

Market Mood Warms, Led by Residential and Logistics Sectors

The overall sentiment index posted a score of -0.06 on a scale from -3 (very poor) to +3 (very good), reflecting a modest year-over-year improvement of 0.37 points. Institutional investors and property managers rated market conditions most favorably, with respective scores of 0.40 and 0.63. Although project developers remained the least optimistic, their sentiment rose by 0.8 points, suggesting a positive shift following two challenging years. Peter Lenz, partner at Ypsilon Steuerberatungsgesellschaft, observed, “The industry appears to be gradually moving back to a more neutral mood, a sentiment echoed at recent events like Expo Real.”

Residential and Logistics Top Investment Preferences; Office Sector Faces Challenges

The survey forecasts a continued appetite for residential properties, with 79% of respondents predicting strong investor interest in rental apartments and 42% favoring logistics real estate. Demand for office and retail real estate, on the other hand, is expected to soften, with 57% of respondents anticipating lower office demand and 54% forecasting declining investor interest in office properties. Carsten Demmler, Managing Director at HIH Invest, commented on residential demand, stating, “Population growth and the trend toward smaller households continue to drive demand, especially given the limited supply of new housing.”

Rent Expectations: Strength in Residential, Weaker Prospects for Office and Retail

In the coming year, residential rent increases appear likely, with 94% of respondents forecasting rises, while 62% expect rents to climb by around 5%. Logistics rents are also poised to increase, with 43% of survey participants expecting a 5% rise, and a smaller group anticipating even stronger growth. Conversely, the outlook for office rents remains muted. Approximately 76% of respondents expect office rents to either decline or stagnate, with 45% predicting a decrease and only 24% expecting growth. According to Felix Meyen, HIH Invest’s Managing Director, “While demand for prime office space in central business districts remains steady, outdated stock in secondary locations will likely struggle, increasing rent disparities.”

Price Forecasts: Rising Values for Residential and Logistics, Declines for Office and Retail

Notably, residential price expectations have shifted upward. In 2023, most respondents anticipated falling prices for multi-family buildings, but this year, 63% expect values to rise. The logistics segment follows a similar trend, with 52% forecasting price increases. Meanwhile, the commercial outlook remains less optimistic: 59% anticipate falling prices for office properties, and 49% expect retail prices to drop.

A-Cities Remain Preferred Office Investment Markets; B-Cities Dominate Residential and Logistics

A-cities hold the highest appeal for office investments, with 73% of respondents pinpointing these areas as top opportunities, while residential and logistics investments are expected to perform best in B-cities. Notably, 47% of respondents favor B-cities for residential investments, reflecting a strategic shift as investors seek high-growth potential beyond the primary cities.

The sentiment survey, conducted from late August to late September 2024, underscores a resilient residential and logistics market in the face of broader challenges, with institutional investors positioning themselves for long-term growth across diversified sectors.

Vladimír Bolek, IAD Investments, joins the jury committee for the CIJ Awards Slovakia 2024

Vladimír Bolek is a Member of the Board at IAD Investments in Slovakia, playing a key role in the strategic management and decision-making of the company. With his extensive expertise in finance and investment management, Bolek contributes significantly to the firm’s growth and success. IAD Investments is one of Slovakia’s leading asset management companies, and Bolek’s leadership helps steer its focus on delivering value to clients through diversified investment solutions. His insight and experience make him a pivotal figure in navigating the complexities of the Slovak investment landscape.

The CIJ Awards Slovakia 2024, the premier event honoring excellence in real estate development, is set to take place this year on the 20th November at the Radisson BLU Carlton Hotel, Bratislava, bringing together the most influential players in the Slovak property market. As the most anticipated industry event of the year, the CIJ Awards continue to recognize and celebrate outstanding achievements in real estate, development, and property management across Slovakia.

Now in its 20th year, the CIJ Awards Slovakia is organized by CIJ Europe, the leading real estate news and event platform in Central and Eastern Europe. The awards have become a benchmark for excellence, with a reputation for highlighting the highest standards of quality, innovation, and leadership in the real estate sector.

For more information about the CIJ Awards Slovakia 2024, including details on how to enter, sponsorship opportunities, and event registration, please visit the official CIJ Awards website on the link below:

Poland Residential Sale Survey: How are new apartments selling

How does the suspension of the Loan to Start affect the housing market? How are sales going? Who is buying? Is it possible to count on a discount? What is the current situation in the development market?

Tomasz Kaleta, managing director of sales and marketing at Develia
Uncertainty about the launch and terms of the “Startup Credit” program has persisted for many months. However, since the beginning of its announcement, we have been paying attention to the limited impact it may have on the housing market. Our estimates suggest that about 10-15 percent of customers are waiting for the introduction of this program. Currently, the proportions of apartment buyers with credit and cash are spread more or less equally.

We can say that the market has returned to relative equilibrium, and the prices of apartments in the primary market are relatively stable. Although the situation may vary depending on local markets, there is currently no reason to expect a drop in prices in Poland’s largest cities. Customers can count only on small promotions for selected apartments in some developments.

Zbigniew Juroszek, CEO of Atal
We observe that some buyers are holding off on signing contracts due to the lack of a decision on government support for buyers. Invariably, we are of the opinion that it will not play such a key role as some commentators have predicted. Moreover, its selectivity in terms of target group will not be a factor in housing prices. The end of the period of suspense and uncertainty, i.e., a clear decision on whether or not to launch the support program, would have a similar effect in that most customers would convert their current bookings into development contracts.

What would definitely improve the demand as well as the supply situation would be a reduction in interest rates and, as a result, a reduction in the cost of mortgages for customers and investment credit, i.e. development companies. Since the end of the vacations, we see that more customers are deciding to buy apartments. We expect that the fourth quarter, which has begun, will bring an increase in contracting. Accordingly, we are consistently meeting construction schedules and sales launches.

Agata Zambrzycka, director of sales and marketing at Aurec Home
Due to the state’s recent flood-related spending, the introduction of the “Credit to Start” program in 2025 seems unlikely. Currently, the housing market is witnessing, on the one hand, a dynamic development of social housing, which since the beginning of this year has recorded an increase in the number of completed apartments by more than 76 percent compared to the same period last year. On the other hand, due to the lack of an active government subsidy program, the offer of available apartments in Poland’s seven largest real estate markets has reached record levels.

Despite the current market situation, we are not giving up on our plans to develop new projects. We are working intensively to maintain a high standard in line with customers’ expectations. We are systematically commissioning apartments from successive stages of the Miasteczko Jutrzenki project – currently the Lavender District, where we offer a parking space free of charge to selected units. In March of this year, we also began selling apartments from the Fabrica Ursus development, which refers to historical elements of the former Ursus factory. Thanks to our own financial resources, we offer selected high-standard apartments priced from PLN 13,367/sqm.

Magdalena Gosk, Sales Leader BPI Real Estate Poland
In the third quarter of 2024, the real estate market was characterized by a typical seasonal slowdown in apartment sales during the holiday season. During this time, as expected, customer activity was lower. However, with the onset of September, we saw a marked recovery, as evidenced by the return of customers who postponed their purchase decisions until after the vacations. Although we are seeing an extended decision-making process on the part of buyers, interest in our offerings remains high.

We are optimistic about the coming months, expecting this trend to continue. We are constantly introducing various special offers and discounts for our customers. However, we see that customers are showing particular interest in our investments due to their excellent location, and the fact that three of the projects we offer are already ready for delivery is also an additional advantage.

Joanna Chojecka, sales and marketing director for Warsaw and Wrocław at Robyg Group
We believe that government programs are important, but they do not significantly affect the development of the residential market in Poland. Demand for apartments persists all the time, mainly because of the significant gap that is still recorded in Poland. Therefore, the support of Poles in the ability to buy their M has much more impact on issues concerning the general economy, fertility rates, etc.

From the point of view of developers, however, much more important are the opportunities to increase supply – that is, to introduce apartments to the offer. We keep calling for speeding up local government administrative procedures. This is a much more important aspect in order to be able to offer Poles the largest possible range of apartments, including promotions. We constantly note the activity of buyers.

We believe that the demand for apartments is not as tied to government programs as some people portray it, and banks still have interesting financing offers for apartment buyers. We support our clients in obtaining optimal financing and in credit procedures.

Andrzej Gutowski, Sales Director of Ronson Development
The suspension of the “Loan to Start” program has caused many customers, tired of waiting, to go on a shopping spree. This limits the ability to give discounts, especially in large cities. Major reductions are not expected, but prices will remain stable. At present, buyers are mainly customers with 50-60 percent of their own contribution, who support themselves with credit, so interest rates are not decisive for them. The 2025 budget lacks funds for new housing programs, and the government is focusing on other activities, which means new support is unlikely to come. Although 2024 may be weaker than 2023, but the housing market remains stable.

Susanna Należyta, commercial director at Eco Classic
We are currently facing limited demand due to high interest rates. Many people simply do not have the opportunity to purchase an apartment. The introduction of the program in its announced form would certainly help primarily those purchasing housing for their own needs. We estimate that the restrictions on the BK2% program and the large supply will cause a recovery, but will not contribute to price increases.

Marcin Michalec, CEO of Okam Capital
Many young and lower-income people have been waiting for the entry into force of the “Loan to Start” program, which would allow them to realize their plans to buy their own apartment. Those interested in buying units in the Lodz market can take advantage of the special offer we have prepared for the Lodz Real Estate & Home Construction Fair. In the NOW project located in the vicinity of the New Center of Łódź, modern apartments can be purchased at prices starting from PLN 350,000. On the other hand, in the case of the PROGRESS Zone, located in the very center at Piotrkowska Street/Kosciuszko Avenue, a discount of PLN 50 thousand is waiting for customers to purchase the units, as well as the opportunity to finish the apartments with architects from the KODO studio. We also anticipate a special offer on the occasion of Open Days at Warsaw’s Cityflow project.

Damian Tomasik, CEO of Alter Investment
The suspension of the “Loan to Start” program for the moment adversely affects the market. Any uncertainty that is created by the announcements of the programs and the subsequent withholding of decisions puts buyers at a great disadvantage. Those who today have the need to change their apartments often cannot make a decision by postponing the purchase until clear information about the program is announced, while those who no longer have that time, when the program enters, will lose the opportunity to improve their living conditions. This has a significant impact on the housing market, especially for young people, who often make up a large portion of the program’s recipients.

Today’s new housing market is characterized by high dynamics, but also by considerable stratification. In large cities, we continue to see high demand, especially among wealthier individuals and investors who are looking for property as a security of capital in uncertain times. By contrast, in smaller towns and on the outskirts of metropolitan areas, demand is more sensitive to the availability of credit and the support of government programs.

The main group of buyers are investors, people with more equity and those who are less dependent on mortgages. On the other hand, young families and those just starting out face a greater challenge, especially after the suspension of support programs.

Such a situation may also accelerate the investment decisions of those who are thinking about buying an apartment, fearing further price increases. In the longer term, Poland’s housing market still has great potential, and demand for apartments, especially in large cities, will remain high and unsatisfied.

Source: dompress.pl
Photo: BPI, Czysta 4, Wrocław

Andrej Mardiak a Partner at Mayflower joins the jury committee for the CIJ Awards Slovakia 2024

Andrej Mardiak a Partner at Mayflower joins the jury committee for the CIJ Awards Slovakia 2024.

Andrej Mardiak is a Partner at Mayflower Slovakia, where he plays a key role in guiding the firm’s strategy and business operations. With his extensive experience in the Slovak market, Andrej contributes to the company’s growth and development, focusing on enhancing service offerings and delivering results to clients. His leadership and expertise help drive Mayflower Slovakia’s success in navigating complex market dynamics.

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