P3 acquires logistics property in Schwarzenbruck, Bavaria

P3, a European logistics real estate developer and long-term investor, has acquired a logistics facility in Schwarzenbruck, Bavaria, from VIB Vermögen AG.

The property covers a plot of 67,475 square metres, with a gross lettable area of 30,858 square metres. Located near the greater Nuremberg area, the site offers direct access to major transport routes, with the A9, A3, and A6 motorways all within a short driving distance. This region is considered one of Germany’s top ten real estate markets and serves as an economic hub in northern Bavaria.

Built in 2018, the logistics facility includes sustainability elements such as a photovoltaic system and is fully leased to a single tenant. The building’s location in a high-demand area with limited availability of permitted logistics space adds to its strategic value.

According to Sönke Kewitz, Managing Director of P3 Germany, the acquisition supports the company’s ongoing strategy to strengthen its presence in Bavaria and expand its portfolio of sustainable logistics properties.

Legal advisory for the transaction was provided by DLA Piper, with TA Europe conducting the technical due diligence. P3 intends to retain the asset long-term and continue improving its sustainability performance.

ZPP opposes extension of retail sales tax to e-commerce sector

The Union of Entrepreneurs and Employers (ZPP) has expressed firm opposition to the Ministry of Finance’s proposal to extend the retail sales tax to Poland’s e-commerce sector. The organization argues that such a move would be harmful to the development and competitiveness of Polish and European businesses, particularly small and medium-sized enterprises (SMEs), which form a significant portion of the online retail market.

The retail sales tax, introduced in 2021, was originally intended to increase budget revenues and curb tax optimisation practices by large international retail chains. A tax-free threshold of PLN 17 million in monthly revenue was introduced to protect smaller Polish retailers. However, ZPP notes that the measure has not met its goals. Despite the tax, the number of small shops in Poland has continued to decline, with an estimated 10% drop between 2015 and 2021. In 2022 alone, approximately 4,000 small outlets closed, followed by another 2% market contraction in 2023.

According to ZPP, extending this tax to e-commerce risks further weakening domestic businesses at a time when they are already under pressure from rising operating costs, logistics expenses, and digital advertising rates. The organization is particularly concerned about unfair competition from non-EU platforms—mainly from Asia—which often avoid customs and tax obligations by underreporting order values or splitting shipments.

While Poland’s e-commerce market was valued at approximately PLN 100 billion in 2024 and is forecasted by PwC to grow to PLN 192 billion by 2028, ZPP warns that such growth is not guaranteed. Factors including economic uncertainty, rising costs, and increased foreign competition could slow or reverse these projections.

The organization also emphasizes that nearly half of Poland’s e-commerce sector is made up of SMEs, which would be disproportionately affected by any new tax burdens. It argues that a national-level policy like this could exacerbate existing imbalances and harm law-abiding businesses.

ZPP is calling on the government to suspend any work on the proposed amendment and instead focus on addressing e-commerce taxation at the European Union level. The group believes that a coordinated EU-wide approach would be more effective in ensuring fair competition between European companies and international platforms. It also points out that no other EU member state has implemented a similar tax on e-commerce, and that unilateral national action could disrupt the single market.

In conclusion, ZPP urges Polish authorities to prioritise regulatory cooperation at the EU level over domestic tax extensions, in order to support fair competition and the continued development of the local digital economy.

Source: ZPP

INTEK secures international contracts in the defence sector

INTEK, a steel structure manufacturer based in Lubawa and part of the Dekpol Capital Group, has secured two new contracts with German companies operating in the defence sector. The company, which specialises in the production of customised steel structures, will carry out these projects as it continues to expand its presence in international markets.

INTEK operates a 21,000 sqm production facility equipped with modern machinery. Since joining the Dekpol S.A. Capital Group, the company has expanded its operations across multiple industries, including defence, machinery, offshore, energy, and mining.

According to Wojciech Baszkowski, President of the Management Board at INTEK, the company’s growth within the Dekpol Group has supported its technological development and strengthened its position in the steel construction market. He attributes INTEK’s ability to attract international clients to its focus on quality, precision, and timely delivery.

INTEK is certified under DIN 2303 Q2 BK1, which qualifies it to manufacture products used in military applications. The company is currently working towards an upgrade to the Q3 classification in cooperation with the Bundeswehr Technical Centre. It also holds an End User Certificate (EUC), allowing it to work with international public institutions and defence companies while complying with export control standards.

The first of the two new projects involves the production of specialised steel containers designed to house communication systems. These structures are intended to maintain reliable performance under challenging environmental conditions. The second order concerns the serial production of welded structures for a leading defence manufacturer operating in the German market.

First BREEAM-certified logistics hall completed in Slovenia by HSF System

First BREEAM-Certified Logistics Hall Completed in Slovenia by HSF System

HSF System Group, part of the PURPOSIA Group investment holding, has completed construction of a logistics hall in the LOGspot Logatec logistics park in Slovenia. The development, carried out for investor Atrios, represents the first logistics facility in the country to receive BREEAM Very Good environmental certification.

The €20 million project includes a total area of 54,199 square metres, featuring 26,525 square metres of warehouse space, 14,485 square metres of paved infrastructure, and 13,189 square metres of green areas. The development also incorporates related infrastructure and technology upgrades.

The site is located in a karst and seismically active zone, which required extensive geological surveys and specialised earthworks prior to construction. Despite these challenges, the project was completed ahead of schedule.

The facility includes features such as electric vehicle charging stations, air-to-air heat pumps, and plans for rooftop photovoltaic panels with battery storage. The building was designed in accordance with modern sustainability and ESG standards.

This is the first project under the LOGspot logistics network brand, developed by Atrios, marking a step forward in the company’s regional logistics operations. The completed facility has already been handed over to its tenants.

LOGspot Logatec is located 25 kilometres from Ljubljana and 75 kilometres from the Port of Koper, with direct access to the A1 motorway, offering a strategic position for logistics and distribution operations.

Scallier expands property management structure in Poland

Poznań-based real estate company Scallier has strengthened its organizational structure in Poland with the appointment of Rafał Langer as Head of Property Management, effective since mid-April 2025. The move is part of the company’s broader effort to support its ongoing operations in the country.

Rafał Langer brings more than two decades of experience in managing commercial real estate across multiple sectors, including office, logistics, retail, services, and residential. His professional background includes work with international corporations, investment funds, government institutions, developers, and private clients. He is a graduate of the SGH Warsaw School of Economics, specializing in property management.

In his role at Scallier, Langer is responsible for overseeing project development and process optimization within the property management department. He will also lead coordination efforts within the management team, strengthen investor relations, and support the strategic growth of Scallier’s property management services in Poland.

According to Bartosz Nowak, Managing Partner at Scallier, Poland’s retail real estate market has experienced steady growth in recent years. In 2024, Poland ranked second in Europe for newly delivered retail space, behind only France. He noted that more than 500,000 sqm of new retail space is expected to be added in 2025, with retail parks and smaller local centres continuing to dominate new developments. The total area of such facilities has doubled since 2020.

Nowak emphasized the operational challenges associated with managing geographically dispersed assets and rising maintenance costs, which impact overall asset performance. He pointed to Scallier’s experience in developing a proprietary retail property management model over the past 14 years as a key factor in maintaining service quality and cost efficiency.

Langer added that the current expansion of the department will enable Scallier to deliver integrated property management services at scale. Discussions with potential clients concerning the management of additional assets—particularly dispersed portfolios—alongside active leasing efforts, are expected to support the company’s further market growth.

Founded in 2011, Scallier operates in both Poland and Romania, with a focus on retail real estate. In Poland, the company manages 51 properties, totalling approximately 75,000 sqm. Its activities include property management, project leasing, and the development, expansion, and modernization of retail parks, regional shopping centres, and convenience retail facilities.

Arkadia shopping centre in Slovenia sold to SES Spar European Shopping Centers

Generali Adriatic Value Fund, managed by Generali Investments Slovenia and advised by Peakside Capital, has signed an agreement for the sale of the Arkadia shopping centre in Domžale, Slovenia. The buyer is SES Spar European Shopping Centers. The transaction, signed on 11 June 2025, is subject to approval by the Slovenian Competition Protection Agency. Financial details were not disclosed.

Arkadia, located northeast of Ljubljana, comprises 19 retail units with over 11,000 square metres of leasable space and 350 parking spaces. The centre is fully leased and includes a mix of international and local tenants. Its location near the Ljubljana–Maribor motorway offers strong connectivity for both customers and retailers.

Peakside Capital and Generali Investments Slovenia acquired the property in 2018 through the Generali Adriatic Value Fund, Slovenia’s first regulated alternative real estate investment fund. The fund focuses on generating income and long-term value from investments across the commercial real estate sectors in Southeast Europe.

Christopher Smith, Head of Portfolio Management CEE at Peakside Capital Advisors, stated that the transaction reflects the outcome of a strategy focused on active asset management. He added that the firm continues to seek investment opportunities in the region.

Russia’s exports grew sharply in 2024 despite western sanctions

Russia recorded nearly a 20% increase in exports in 2024, according to a study published by the German weekly Der Spiegel, based on research by the Cologne Institute for Economic Research (IW). The analysis indicates that Russia generated approximately USD 330 billion in export revenues last year, despite multiple Western sanctions imposed in response to its war in Ukraine.

The report highlights a major shift in Russian trade strategy, with a growing focus on countries in the Global South. Nations such as India and China have become key markets for Russian oil and gas, contributing substantial revenue to the Russian state budget.

Trade with Western countries, including Germany, Italy, and the United States, has declined sharply—by as much as 92%—following the sanctions. However, the study notes that Russia has increased exports to other countries, including Hungary (an EU member), Brazil, Turkey, and Israel. Russian authorities have publicly stated that the country has adapted to the sanctions regime by cultivating new trading partners.

While the Kremlin has acknowledged the economic strain resulting from sanctions, it has also ramped up its focus on supporting the war economy. President Vladimir Putin has repeatedly emphasized Russia’s commitment to maintaining its military export obligations despite the ongoing conflict in Ukraine.

To counter Russia’s export gains and reduce its wartime revenues, the IW recommends stricter measures. One suggestion is to lower the EU’s current price cap on Russian oil, which is set at USD 60 per barrel. EU member states are currently debating a reduction to USD 45 per barrel, while Ukrainian President Volodymyr Zelensky has called for a cap of just USD 30.

The IW also advises more aggressive action against the so-called Russian “shadow fleet”—tankers that operate without proper insurance or documentation and are used to transport Russian oil to countries like India, effectively bypassing sanctions.

Source: Der Spiegel, IW & CTK

Czech Republic organizes repatriation flight for citizens in Israel

The Czech Republic is dispatching a repatriation flight today to assist its citizens currently in Israel. The flight will accommodate those who have registered with the Czech embassy in Tel Aviv. The Ministry of Foreign Affairs has not disclosed additional details due to security concerns.

In parallel, several Czech nationals are expected to return via a Slovak-organized repatriation flight from Amman, Jordan, to Bratislava. The operations come amid escalating conflict between Israel and Iran, which has resulted in the closure of Israeli airspace and the suspension of commercial flights between Israel and Prague since Friday.

The Czech Foreign Ministry has issued a warning against travel to Israel and advised against visiting Lebanon and Jordan. It has also urged all Czech citizens to leave Iran.

As of the weekend, the Drozd travel registration system listed 144 Czech nationals in Israel, 50 in Jordan, 55 in Lebanon, and two in Iran. The Ministry also noted that several hundred Czech citizens reside in Israel long-term.

The conflict began late Friday night with Israeli airstrikes targeting Iranian military and nuclear facilities. Israel has stated the strikes were intended to halt Iran’s alleged nuclear weapons program, a claim Iran denies. Since then, Iran has launched multiple rocket and drone attacks on Israeli territory. Both countries have reported casualties, including among civilians.

Source: CTK

Residential property prices in Slovakia rise over 12% year-on-year in Q1 2025

Residential property prices in Slovakia increased by more than 12% year-on-year in the first quarter of 2025, according to revised data published by the Statistical Office of the Slovak Republic on 16 June 2025. The revision, based on official data from the Real Estate Cadastre, replaced earlier estimates derived from advertised prices on internet portals.

On a quarterly basis, residential property prices rose by 2.1% in Q1 2025. This growth was slightly lower than the preliminary figure published in late May and marked a slower pace than in the final quarter of 2024. The increase was driven primarily by new dwellings, which rose 2.8%, while prices of existing dwellings grew at a slower rate of 2.0%.

The updated data also revealed notable regional differences. Quarter-on-quarter price growth was recorded in seven of Slovakia’s eight regions, with only Košice Region showing no increase. The most significant growth was seen in Trnava Region, where prices rose by 4.9%. In most regions, existing dwellings experienced faster price increases than new ones. However, the reverse was observed in Bratislava and Banská Bystrica Regions. Despite the upward trend, no region recorded quarterly price growth above 6% for either type of dwelling.

Year-on-year, residential property prices increased by 12.2% across Slovakia, representing the most significant annual growth since the third quarter of 2022. Prices of existing dwellings saw a sharper rise of 12.4%, while new dwellings increased by 11.2%.

All eight Slovak regions experienced year-on-year price growth. The smallest increase was in Trnava Region (7.3%), while Nitriansky Region recorded the highest at 18.5%. Double-digit growth was also seen in Prešov, Bratislava, and Žilina Regions. In several regions, existing dwellings outpaced new dwellings in terms of price growth, with Bratislava, Žilina, and Nitra Regions all reporting increases above 15% for existing housing. Price increases for new dwellings exceeded 15% only in Bratislava and Trenčín Regions.

In a long-term context, average residential property prices in the first quarter of 2025 were more than double their levels from 2010. Over the 14-year period, prices for new dwellings rose by over 70%, while prices for existing dwellings climbed by 115%.

Producer prices in May 2025: Industrial decline continues, services and construction rise

Producer price data for May 2025 shows a mixed landscape across sectors in the Czech economy. Industrial producer prices continued their downward trend, falling for the fourth consecutive month, while prices in agriculture, construction, and services maintained year-on-year growth.

According to the Czech Statistical Office (CZSO), industrial producer prices dropped by 0.6% month-on-month and were 0.8% lower than in May 2024. “The decline in industrial prices continues, driven by reductions in key sectors such as energy and chemicals,” said Vladimír Klimeš, head of the Industrial and International Trade Prices Statistics Unit at CZSO.

Agricultural Producer Prices
Agricultural prices decreased by 1.5% compared to April. This decline was influenced by lower prices for cereals (-0.9%) and eggs (-6.1%), though increases were recorded for pigs for slaughter (+5.6%), potatoes (+3.5%), and cattle for slaughter (+1.5%). On a year-on-year basis, agricultural producer prices remained significantly higher—up 15.7%. Crop production rose by 16.1%, with notable increases in fruit (+36.3%) and oilseeds (+24.6%). Animal production rose 15.9%, driven by strong gains in prices for eggs (+43.6%), milk (+19.5%), and cattle (+27.1%), despite a 9.0% decline in pig prices.

Industrial Producer Prices
Industrial prices fell 0.6% month-on-month, led by declines in ‘electricity, gas, steam and air conditioning’ (-2.7%) and ‘chemicals and chemical products’ (-1.3%). Price increases were seen in ‘basic metals’ (+1.4%) and ‘food products’ (+0.4%), especially ‘preserved meat’ (+1.4%) and ‘animal feeds’ (+0.9%). Year-on-year, industrial prices declined by 0.8%, with continued drops in energy-related categories including ‘electricity, gas, steam and air conditioning’ (-3.5%), ‘chemicals’ (-6.2%), and ‘coal and lignite’ (-10.2%). Food products rose 3.2%, with a strong gain in dairy products (+12.3%).

Among main industrial groupings, energy prices declined 5.9% y-o-y, while prices for consumer goods and capital goods rose by just over 2%. Excluding energy, industrial producer prices were up 1.4% compared to 0.6% in April.

Construction Prices
Estimated construction work prices increased by 0.4% month-on-month and were up 3.9% year-on-year. Prices for construction materials and products rose by 0.1% m-o-m and 1.0% y-o-y.

Service Sector Prices
Service producer prices in the business sector rose by 0.2% from April, and were 4.4% higher than a year ago. The most significant monthly increases were in entertainment-related services such as ‘motion picture, video and music publishing’ (+7.7%) and ‘broadcasting services’ (+4.0%). Prices also rose for advertising (+1.8%) and engineering services (+1.1%). Declines were noted in ‘employment services’ (-1.3%) and ‘information services’ (-1.8%). Excluding advertising, service prices were flat m-o-m and up 3.4% y-o-y.

EU Comparison – April 2025
According to Eurostat’s preliminary data, industrial producer prices in the EU27 declined by 2.1% m-o-m in April. Notable decreases were recorded in Bulgaria (-4.9%), France (-4.3%), and Ireland (-4.0%). Prices also fell in Czechia (-0.8%), Germany (-0.7%), and Poland (-0.6%). On a year-on-year basis, EU-wide industrial prices rose by 0.6%, with the highest increases seen in Bulgaria (+17.0%), Ireland (+5.4%), and Greece (+5.3%). Czechia posted a y-o-y decline of 1.3%.

The data highlights continued deflationary pressures in industrial production across Europe, while domestic sectors such as construction and services remain more resilient.

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