Nhood Services Poland supports tenant expansion at Blue City Shopping Centre

Nhood Services Poland has continued its collaboration with Warsaw’s Blue City shopping centre by securing new tenants and expanding the centre’s retail offering. Over the past several months, the company has signed four lease agreements with brands in the fashion accessories, jewellery, and health and beauty segments. These additions are part of an ongoing effort to enhance the shopping experience at the centre.

As part of its property services, Nhood supports retail owners by managing the commercialisation of retail space. This includes developing tenant mix strategies, identifying potential tenants, negotiating lease terms, and coordinating the setup of new stores. The company currently works with Blue City, assisting in the expansion and diversification of its tenant portfolio.

In the last year, four new brands have signed leases at Blue City. The optical brand KODANO Optyk has expanded the centre’s health and beauty offering. Kamalion, a Spanish retailer focused on mobile fashion accessories, has also joined the tenant list. Verona, a Polish brand specialising in fashion jewellery, is preparing to open its store soon. In addition, the Polish brand Ochnik will introduce its latest retail concept in a new space of more than 500 square metres, with an opening planned between late summer and early autumn.

Blue City is a well-established shopping and entertainment centre in Warsaw, known for its wide selection of fashion retailers, dining venues, and leisure options. Its diverse offering and central location continue to attract shoppers from across the city and surrounding areas.

Commenting on the cooperation, Joanna Nowacka-Jankowska, Senior Leasing Manager at Nhood Services Poland, highlighted the productive relationship with the centre’s owner. She noted that discussions with additional brands are ongoing, as interest in expanding into Blue City remains strong.

Nhood’s leasing team comprises experienced professionals with a background in commercial real estate. They regularly participate in industry events and trade fairs, using their knowledge of the Polish retail market and international trends to support clients in developing effective leasing strategies and optimising tenant mixes in shopping centres.

Catella reports worsening housing shortage across Europe as rents rise and overcrowding grows

Rental prices in Europe continued to climb during the first quarter of 2025, while housing supply remained constrained and overcrowding in rental apartments increased. According to the latest Catella Residential Market Overview Q1/2025, covering 59 cities in 16 European countries, low construction volumes and sustained demand are putting further pressure on already tight markets.

Catella Investment Management’s Head of Research, Dr. Lars Vandrei, noted that despite persistent uncertainty in the broader economic and geopolitical context, the real estate market showed signs of modest price growth and yield stability. However, high demand for rental housing remains a dominant factor, reflected in both rising rents and a growing number of households facing overcrowded living conditions.

In the rental market, prices increased in 48 of the cities surveyed. The average monthly rent across Europe reached €20.02 per square metre, marking a 2.4% increase since the third quarter of 2024. Dublin recorded the highest average rent at €40.00 per square metre, also representing the steepest increase. London followed at €39.30, while Geneva registered €34.50, slightly lower than the previous period. At the lower end of the rental scale were Leipzig (€10.30), Liège (€11.05), and Graz (€11.10).

On the ownership side, prices for condominiums rose in 31 of the 59 cities analysed. The average price across these cities now stands at €5,696 per square metre, a 0.9% increase from Q3 2024. Geneva remains the most expensive housing market at €15,720, followed by Zurich (€13,870) and London (€13,440). In contrast, the most affordable home prices were found in Finnish cities such as Jyväskylä (€2,240) and Oulu (€2,370). Among the cities with the highest relative price increases were Madrid (+11.9%), Gothenburg (+10.5%), and Copenhagen (+9.6%).

Prime residential yields averaged 4.58% across the surveyed markets, unchanged from the previous reporting period. The lowest yields were reported in Stockholm (2.50%) and in Zurich and Geneva (2.70%), while higher returns were observed in Cork (6.25%) and major Polish cities including Krakow, Wroclaw (6.00% each), and Warsaw (5.75%).

In Germany, rents rose across all cities included in the study. Munich remained the country’s most expensive rental market at €24.50 per square metre, followed by Frankfurt (€19.50) and Stuttgart (€18.30). On the ownership side, Munich maintained the highest prices at €9,970 per square metre, just below the €10,000 mark reached in 2022. Frankfurt and Hamburg followed, while Leipzig remained the most affordable among Germany’s largest cities with an average price of €3,280. The lowest yields were also recorded in Munich, at 4.20%, while Leipzig offered the highest returns at 5.25%.

A special focus of the report highlights the rising levels of overcrowding in rental housing across Europe. Overcrowding is defined by the number of rooms available relative to the size and composition of a household. While the overall rate of overcrowding in the EU has slightly declined from 18.1% in 2014 to 16.9% in 2024, overcrowding among renters has increased significantly—from 20.4% in 2014 to 24.4% in 2024.

The issue is most acute in Northern and Eastern Europe but is increasingly visible in Western and Southern European countries as well. Germany saw a 4.9 percentage point increase in overall overcrowding between 2014 and 2024, while Belgium (4.6 pp), Spain (3.8 pp), and Sweden (4.0 pp) also recorded notable increases. Among renters, the figures are higher: Belgium (+9.0 pp), Spain (+8.0 pp), and Ireland (+7.9 pp) showed some of the steepest rises. In Germany, 18.4% of renters now live in overcrowded homes, compared to 11.5% a decade ago.

The data suggest that Europe’s rental housing crisis is deepening, with insufficient new construction and strong demand continuing to drive prices upward and limit available space. Without policy interventions or significant increases in housing supply, these trends are likely to persist.

neoshare forecasts gradual recovery in German real estate market in 2025

Germany’s real estate market is entering a period of gradual recovery following a period of reduced activity. According to a recent market analysis by neoshare Real Estate, a consultancy specialising in transactions, finance, and valuations, commercial property transactions are expected to reach between €30 and €35 billion in 2025. The company reports signs of stabilisation in capital values and moderate growth in rental income, which are helping to support yields across asset classes.

The analysis identifies two key developments contributing to the recovery. First, the gap between buyers’ and sellers’ price expectations is narrowing. Second, financial pressures such as capital outflows, funding constraints, and portfolio restructuring are leading more owners to consider sales. These dynamics are creating conditions for increased market activity, even as capital availability remains limited and broader geopolitical uncertainties persist.

Despite the challenging environment, neoshare believes that Germany remains an attractive location for real estate investment, particularly for clearly defined projects and properties that meet long-term sustainability criteria. Managing Director José Martinez noted that while signs of recovery are visible, careful selection of assets remains essential.

In the office sector, demand for space has stabilised at lower post-pandemic levels, but a clear divergence has emerged between central and peripheral locations. Core city areas continue to attract strong interest, particularly for modern, flexible, and sustainable offices, while outdated buildings are increasingly struggling to find tenants. The vacancy rate in Germany’s Big 7 cities is expected to rise slightly to 7.2% by the end of 2025 and to 7.5% by 2028. Prime and average office rents are still increasing, though at a slower pace, with prime rents projected to rise by around 2% this year.

In the residential market, supply constraints are likely to continue driving rental growth. New building permits have declined by 17% since 2024, and residential completions are down 13%. At the same time, the number of households in the Big 7 cities has grown by nearly 4%, intensifying demand. This imbalance is expected to result in prime residential rents rising by approximately 3% annually through 2028. With yields stabilising, neoshare sees potential for the residential segment to deliver above-average total returns, supported by consistent rental income. Managing Director Piotr Bienkowski noted that affordability pressures may lead to a reversal of the recent trend toward larger per capita living space in major cities.

The industrial and logistics segment continues to perform well, with rent levels increasing even in the absence of broader economic momentum. New warehouse completions peaked in 2022 and have since declined, keeping vacancy rates below 5%, close to full occupancy. Over the past five years, prime logistics rents have grown at an average annual rate of 7%, and neoshare forecasts an ongoing increase of 3% annually through 2028.

Germany’s retail real estate market remains in a state of structural change. While the number of physical stores continues to decline, retail turnover is projected to reach €677 billion by the end of 2025. Local shopping centres and retail parks remain relatively stable, supported by indexed long-term leases. Food retail properties are still in demand, and despite gradually rising prime yields, investor interest in well-positioned, sustainable retail assets remains steady.

The analysis also highlights growth in alternative real estate sectors such as data centres, life sciences, and hospitality. The hospitality segment, in particular, has recovered strongly since the pandemic, with overnight stays increasing and demand concentrated on budget and sustainable hotel formats. In 2024, international investors accounted for more than half of all hotel transaction volume in Germany, a trend not seen since 2017. Prime yields for top-tier hotels were in the range of 5.25% to 5.50% at the end of last year and are expected to remain stable through 2025.

Overall, neoshare’s outlook points to a cautiously improving environment for real estate investment in Germany, driven by stabilising values, steady rental growth, and emerging interest in both core and alternative asset classes. While risks remain, particularly related to financing and global economic conditions, the market appears to be regaining its footing.

The analysis can be downloaded from the link below:

Art-Invest Real Estate Management appoints Tobias Wilhelm as Managing Director for Southern Germany

Art-Invest Real Estate Management GmbH & Co. KG has announced the appointment of Tobias Wilhelm to its management board. He will be responsible for overseeing the company’s operations in Munich and the southern region of Germany.

Tobias Wilhelm joined Art-Invest Real Estate in 2016 and has led the Munich office since 2019. He became a partner in 2021. During his tenure, he has been closely involved in several key developments, including the Macherei München neighbourhood project, the revitalisation of the ATLAS office tower in the Werksviertel district, and the ongoing Momenturm development.

Wilhelm holds a degree in business administration from Ludwig Maximilian University in Munich, as well as a Master of Science in Real Estate from IRE|BS University of Regensburg and a Master of Science in International Real Estate from Oxford Brookes University. He is also active in professional organisations including ULI Germany and IR|EBS Core.

In their joint statement, CEO Dr. Markus Wiedenmann and COO Dr. Ferdinand Spies noted Wilhelm’s contribution to the company’s activities in Munich, Stuttgart, and Nuremberg, highlighting his nearly ten years of service and leadership within the firm.

Reflecting on his new role, Tobias Wilhelm expressed appreciation for the opportunity and emphasised his continued commitment to working with the team on urban development projects and the company’s future direction.

cmT reports growing demand for warehouse conversions in Poland

Engineering services firm cmT has observed a notable rise in enquiries and contracts related to the conversion and adaptation of existing warehouse buildings. The company, which specialises in large-scale industrial projects, recently completed two such conversions in the Dąbrowa Basin. This trend reflects the ageing warehouse stock in Poland and the need to align older facilities with current user expectations, technical requirements, and regulatory standards.

Founded over two decades ago, cmT employs more than 200 people, 90% of whom are engineers. While approximately 65% of the company’s portfolio last year was comprised of industrial projects, cmT has begun increasing its presence in broader real estate sectors, including logistics and warehousing. Notable clients include MAN, for whom the company expanded a facility in Niepołomice, as well as Viessmann, E.G.O. Polska, and Synthos.

“We have made a strategic decision to diversify our portfolio, aiming to increase the share of real estate projects while keeping large industrial developments as a core component,” said Krzysztof Trembowski, Senior Project Director at cmT. He noted that the warehouse sector, in particular, faces structural and regulatory challenges, where cmT’s engineering expertise and project management capabilities—delivered without the involvement of a general contractor—offer an alternative approach.

The total stock of modern warehouse space in Poland has grown significantly, from just over 6 million square metres in 2009 to nearly 34 million square metres today. However, many facilities built before 2010 remain in use. These older buildings often require upgrades to meet new construction standards introduced with the transition to Eurocodes, which replaced the Polish Standards (PN) in April 2010 and became the sole applicable standard from 2021 onward.

Tomasz Wajdzik, Head of cmT’s Wrocław branch, explained that compliance with updated standards frequently involves reinforcing structural components. “In a recent project, we had to increase the roof’s load-bearing capacity to accommodate a fire protection system that meets the new Eurocode requirements,” he said.

Beyond Silesia, cmT has also completed smaller adaptation projects in Gdańsk and central Poland. The company reports a marked increase in warehouse-related requests, having already responded to or submitted bids for 10 conversion projects in 2025 alone. cmT estimates that around 20% of warehouse buildings in the country were constructed under Polish Standards and may require substantial upgrades during renovation.

As part of its long-term development strategy, cmT plans to expand its involvement in the warehouse segment by building on its established expertise in technical audits, cost and schedule optimisation, and investment supervision. The company aims to strengthen its role as a leading provider of engineering services in Poland’s evolving real estate market.

Corvin Innovation Campus achieves WELL Core Platinum certification

The Corvin Innovation Campus, developed as an extension of the Corvin Promenade, has been awarded the WELL Core Platinum certification. The recognition affirms that the office building meets one of the most demanding international standards for health-focused design and construction.

The WELL certification evaluates buildings based on criteria such as air and water quality, access to natural light, acoustic performance, and the inclusion of features that support physical and mental wellbeing. The Corvin Innovation Campus was developed by Futureal, which has been a leading adopter of the WELL Building Standard in Hungary. Over the past four years, the company has introduced nearly 150,000 square metres of WELL-certified office space to the domestic market.

This latest development joins a series of WELL-certified buildings delivered by Futureal, including Corvin Technology Park (2021), Advance Tower phases on Váci utca, and Budapest ONE near Kelenföld Railway Station. Located at the intersection of Szigony utca and Tömő utca, the Corvin Innovation Campus was designed in accordance with WELL criteria from the outset.

Building features include continuous monitoring of indoor air and water quality, WELL-standard lighting, and the use of calming colours and natural materials throughout interior spaces. A multifunctional room is available for relaxation and informal gatherings. The ground floor lobby incorporates design elements such as a curved wooden ceiling, a copper ribbon sculpture, and a dedicated reading space referred to as the WELL Library.

The building’s internal courtyard contains a kitchen garden, planted with herbs, berry bushes, and fruit trees, offering tenants access to green space within the urban setting. Employees have direct access to the wider Corvin Promenade and its retail, dining, and fitness options. The building is easily accessible via metro and is equipped with cycling facilities, including racks, showers, and lockers. A café is also located on-site.

Covering 16,650 square metres, the nine-story office development has been designed to minimise energy use and has received an A+; A+ energy rating. It includes features such as contactless access and operational technologies. IBM Hungary has established its new headquarters within the building.

Adjacent to the main entrance, a public memorial park has been developed and named after Hungarian actress Irén Psota. The park complements the Corvin Promenade and serves as a new community space. Sculptures previously installed along the Promenade now serve to guide visitors toward this new area, contributing to the revitalisation of the surrounding Szigony utca neighbourhood.

Panattoni completes new production facility for Valmet Automotive in Żary

Panattoni has delivered a new build-to-suit (BTS) manufacturing and logistics facility for Valmet Automotive in Żary, Poland. The project expands the company’s existing site and is designed to support the production of advanced roof and kinematic systems for the automotive industry, responding to increasing demand for components that improve vehicle aerodynamics.

The facility spans 8,800 square metres and has been tailored to Valmet Automotive’s operational requirements. The plant will produce kinematic systems developed at the company’s research centre in Osnabrück, Germany. These systems are relevant for both electric and conventional vehicles, contributing to improved energy efficiency and reduced fuel consumption.

The investment is part of Valmet Automotive’s broader strategy for expanding its operations in Europe. The expansion in Żary is expected to significantly boost production capacity and will lead to the creation of approximately 350 new jobs.

Designed for operational flexibility, the layout of the new building allows for future adjustments in production and logistics functions. The facility is also expected to be certified under the BREEAM system at the Excellent level, reflecting its adherence to environmental and sustainability standards.

Valmet Automotive representatives noted that the project was delivered in close coordination with Panattoni’s BTS division. The development was managed alongside the ongoing operations of the existing plant, ensuring continuity during the expansion phase.

According to Valmet Automotive, the new facility positions the Żary plant for further growth within the company’s European manufacturing network. The investment also reflects a broader trend of industrial development in mid-sized cities, with Żary serving as an example of how regional locations can support advanced manufacturing.

Panattoni stated that its role in the project was to provide modern infrastructure that meets the specific needs of its client while supporting local and regional development goals. The facility is now ready for full operational use.

Peakside to develop new urban logistics park near Gdańsk

Peakside Capital Advisors has announced a new logistics development in the Tricity metropolitan area, marking the company’s expansion into regional markets beyond Warsaw. The project will be located in Przejazdowo, near the Gdańsk Wschód interchange, a strategic connection point between the S7 expressway and the city centre. The development will consist of two warehouse buildings with a total floor area exceeding 20,000 square metres, offering flexible unit sizes starting from 1,700 square metres. Completion is expected in summer 2026.

The new logistics park will target a broad range of tenants, including manufacturing and distribution companies. Designed with a focus on adaptability and sustainability, the buildings will reach a height of 12 metres and will be equipped with modern environmental features. These include heat pumps, electric vehicle charging infrastructure, and rooftops prepared for solar photovoltaic panel installations. The project will meet the requirements of leading sustainability certifications, including BREEAM and LEED, and will comply with EU Taxonomy guidelines.

The location offers direct access to major transport routes and urban infrastructure. Situated less than 9 kilometres from central Gdańsk and approximately 10 kilometres from the port, the site benefits from strong road connectivity and is located just 100 metres from a public transport stop.

According to Stefan Laszczyk, Investment Associate at Peakside, the choice of Tricity reflects the region’s growing importance in Poland’s logistics and trade sectors. He noted that the development aligns with Peakside’s broader strategy to build a nationwide logistics platform.

Olga Wałkiewicz, Leasing Director at Peakside, added that the Przejazdowo project aims to meet increasing demand for high-quality warehouse and office space within urban areas. She highlighted the project’s focus on functionality, energy efficiency, and user convenience as key factors shaping its design.

With this latest initiative, Peakside continues to expand its presence in Poland’s logistics real estate market, responding to shifting demand patterns and increased interest in regional hubs. The new logistics park is scheduled to be delivered and ready for occupancy by mid-2026.

YIT begins apartment sales at Portti Kladno residential project

YIT has launched the sale of apartments in the second phase of its Portti Kladno development, one of the company’s first residential projects located outside Prague. The project is being built on the site of a former cold storage facility on Ke Stadionu Street in Kladno, covering nearly 12,000 square metres. The second phase will include 102 apartments for private ownership, with completion expected in autumn 2026 and the first residents set to move in at the beginning of 2027.

The Portti Kladno project represents a step in YIT’s strategy to expand into regions beyond the capital. According to Marek Lokaj, CEO of YIT Stavo, Kladno was chosen for its potential and accessibility. The name of the project, “Portti,” meaning “gate” in Finnish, reflects the company’s intention to open up new development opportunities outside of Prague. The development aims to transform a neglected industrial site into a modern residential neighbourhood offering a balance of quality housing, green surroundings, and access to local services.

In the second phase, YIT will construct two residential buildings with a total of 102 apartments ranging in size from studios to four-room units, with floor areas between 28 and 99 square metres. The apartments will include either front gardens, balconies, or terraces. These new buildings follow the first phase, where 85 units are being built as cooperative housing for an investor. All four buildings in the project will have four above-ground floors, including one recessed floor, and a single underground level.

Amenities in the development will include two ground-floor commercial spaces, pram storage rooms, outdoor washing areas for bicycles and pets, and both outdoor and indoor parking. Roofs above garage entrances will be landscaped with greenery. Each apartment will be assigned a cellar unit, and parking will be available both outside and in underground garages. The project will incorporate sustainable elements such as photovoltaic panels to support heating and lighting systems and a retention tank for rainwater collection to reduce water use. YIT also plans to use modern prefabrication methods in the construction process.

Architecturally, the project was designed by ABM architekti to fit into the existing urban setting with a focus on simplicity and functionality. The buildings are positioned to preserve several mature trees along the site’s edges, enhancing the natural character of the area. Although some neglected trees have been removed, new plantings of trees and shrubs are planned to create a landscaped environment. The design includes pathways for walking and cycling and a semi-private courtyard featuring a small park and playground, contributing to a pleasant atmosphere for residents.

The location is in a quiet residential part of Kladno, surrounded by family homes and apartment buildings. Nearby sports facilities include a winter stadium, football field, tennis courts, a sports hall, and a hockey arena. Additional amenities such as a water park, swimming pool, and a forest park with an inline skating track are within walking distance. Kladno Hospital is also close by, and the city centre is about 600 metres from the site. Public transport connections to Prague are convenient and expected to improve further with the ongoing modernisation of the railway line.

The Portti Kladno development aims to offer quality housing and contribute positively to the surrounding urban environment by creating public spaces, increasing greenery, and offering access to leisure and community facilities.

Schneider electric technology supports modernisation of Hotel Passage in Brno

Schneider Electric has contributed to the modernisation of the historic Passage Hotel in Brno, providing technology that has improved operational efficiency by up to 30%. The renovation of the building, originally constructed in 1928, aimed to combine design and functionality with sustainability and energy efficiency.

The hotel, which had experienced years of use and changing circumstances, underwent a comprehensive upgrade to meet current standards expected of hotels and conference centres. Schneider Electric implemented its EcoStruxure Building platform, integrating multiple systems including heating, lighting, ventilation, power, and security into a single intelligent management system.

A total of 1,250 KNX control points were installed across the building, collecting data on temperature, occupancy, and lighting in real time. The building management system (BMS) uses this data to automate operations. For instance, when a guest leaves a room, the system automatically adjusts the temperature, turns off lights, and closes blinds to reduce energy consumption.

The BMS also connects with the hotel’s reservation system. Rooms can be prepared based on arrival times, with heating or cooling activated in advance. Energy use is further optimised through the building’s mechanical systems, which can switch between different heat sources based on real-time cost and availability.

According to Radek Hamrle from LIVIN’IN, the project’s system integrator, this level of integration allows the hotel to respond rapidly to energy price fluctuations. Power supply reliability has improved by 40%, and overall energy use has been reduced by up to 30%.

Guest rooms are also equipped with user-friendly controls that allow visitors to adjust their comfort settings. The SE8000 series room controller manages heating and cooling depending on the season, and room settings can be controlled remotely from the reception. Bathrooms feature underfloor heating, and the system responds to guest presence via room key cards.

Common areas such as conference spaces and restaurants are equipped with advanced lighting systems integrated with the DALI protocol, allowing for customised lighting scenes and shading. Audio and video systems can also be connected across different rooms, with automated climate control ensuring a consistent environment during events.

The renovation of Hotel Passage began in 2016 and was completed in 2020. The building now includes 103 rooms, a conference centre for over 1,000 people, a restaurant, art installations, and a yoga studio. The project aimed to respect the hotel’s architectural heritage while aligning with modern standards of building performance.

Schneider Electric’s involvement reflects its broader focus on smart, efficient building solutions. The company specialises in electrification, automation, and digitalisation, offering integrated technologies to support sustainability and operational control in commercial and industrial settings.

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