Frontex extends lease at Warsaw Spire B for three years

The Frontex has extended its lease for nearly 21,500 sqm of office space in the Warsaw Spire B, part of the CA Immo portfolio, for a further three years. The agency remains the largest tenant in CA Immo’s Polish portfolio. Both buildings owned by CA Immo within the complex, Warsaw Spire B and C, are fully leased.

Located at Rondo Daszyńskiego in Warsaw’s central business district, Warsaw Spire B has been fully occupied by Frontex for several years.

Agata Wołos, Senior Asset Manager at CA Immo in Poland, said: “For us, this lease extension is the best confirmation that the office buildings in the Warsaw Spire complex offer the highest standards of security and working comfort, meeting the rigorous requirements of EU agencies. Our aim is to build lasting relationships with tenants and provide them with infrastructure that supports their development in a stable and modern environment. Among other things, this means continuously maintaining the building’s structural integrity and modernizing its systems.”

The full occupancy of both buildings reflects a stable leasing position within CA Immo’s Warsaw portfolio. The company continues to focus on sustainability and certification, with Warsaw Spire B meeting high standards, including energy efficiency requirements.

Warsaw Spire B forms part of the wider Warsaw Spire complex, which received the MIPIM Awards 2017 award for Best Office & Business Development. The building provides approximately 21,600 sqm of gross lettable area, primarily office space, alongside a smaller retail and storage component, as well as 263 underground parking spaces. It is located close to Plac Europejski and benefits from access to public transport, including the second metro line, as well as tram and bus connections.

Speedwell plans lakeside residential scheme in Corbeanca with phased delivery

Speedwell is preparing a new residential development in Corbeanca, near Bucharest, marking its entry into the local low-density housing segment with a lakeside project designed around green space and community amenities.

The scheme, named Glenwood Estate, is planned on a 14-hectare plot along the shore of Corbeanca Lake and is expected to include roughly 200 individual homes. The units will be delivered in several configurations, with interior areas ranging between approximately 140 sqm and 220 sqm, alongside private gardens that bring total plot sizes to over 300 sqm.

The development is being structured as a controlled-access neighbourhood, with more than half of the site reserved for landscaped areas, including both private and shared green zones. The project will also benefit from direct access to the lake, with around 700 metres of waterfront incorporated into the masterplan.

Construction is expected to progress in stages, with an initial batch of homes scheduled for completion in 2026. Early phases will focus on establishing the residential core of the project, followed by the rollout of additional community facilities.

The wider concept includes a range of amenities intended to support day-to-day living within the development, such as recreational areas, shared spaces and services for residents. Plans also include pedestrian routes and cycling infrastructure integrated into the internal layout.

Didier Balcaen, Co-Founder and CEO of Speedwell, said the company is responding to evolving expectations among buyers: “We are seeing an increasing focus on quality of life, where buyers are not only looking for a home, but for a complete living environment that integrates nature, comfort and community.”

The site is located on Tufelor Street in Corbeanca, with access to the DN1 road linking Bucharest to Ploiești, and is within a short drive of Henri Coandă International Airport. The surrounding area provides access to schools, medical services and retail facilities.

Environmental considerations form part of the development approach, with the project expected to incorporate energy-efficient systems and renewable energy solutions, alongside measures aimed at reducing resource consumption and supporting local biodiversity.

The architectural design has been developed internally by Speedwell’s FUSE Architecture & Interior Design team. The developer has been active in Romania since 2014 across residential, office and mixed-use segments.

Romania’s short-term rental market expands in 2025, with Brașov leading regional performance

Romania’s short-term rental market continued its upward trajectory in 2025, with total revenues in Bucharest reaching EUR 66.8 million, up 20 percent year-on-year, according to an analysis by Crosspoint Real Estate, the International Associate of Savills in Romania.

At a national level, Bucharest remains the largest urban market, while Brașov leads among regional destinations, generating EUR 20.4 million in total revenues and recording the highest average annual income per property, at nearly EUR 10,500.

“Demand for serviced apartments has grown steadily across all major urban centers, supported equally by domestic tourism, foreign visitors and business mobility”, said Ilinca Timofte, Head of Research at Crosspoint Real Estate. “What we are seeing now is a maturing market, owners understand that performance depends not only on location, but also on the consistency of the quality offered and on the ability to capitalize on local events.”

Bucharest: strong growth and rising supply

In 2025, Bucharest generated EUR 66.8 million from short-term rentals, more than double the level recorded in 2022. The number of listed units rose to 5,507, up by 541 compared with the previous year.

Tourism remained a key driver, with 2.06 million visitors recorded in 2025, including over 1.1 million international tourists, an 8 percent increase year-on-year. September was the strongest month, supported by the George Enescu International Festival, which attracted more than 120,000 attendees.

The market recorded an average daily rate (ADR) of EUR 56.5 and an occupancy rate of 62 percent, resulting in an average monthly income of approximately EUR 1,006 per property. While supply remains concentrated in central areas, listings are gradually expanding across the city, with eastern districts still underrepresented.

Regional markets: diverse drivers and performance patterns

Crosspoint’s analysis highlights significant variations across Romania’s main regional markets, reflecting differences in tourism profiles, seasonality and event-driven demand.

Brașov stands out for its year-round appeal, with 1,946 listings, up 7 percent year-on-year, and the highest average annual revenue per unit, at EUR 10,471.

Cluj-Napoca ranks second, with 1,306 listings and an average annual revenue of EUR 9,910 per property. Performance is strongly influenced by major events such as Untold Festival and Electric Castle, which together attracted around 800,000 participants in 2025 and drove peak revenues during the summer months.

On the Black Sea coast, Constanța, including Mamaia and Mangalia, benefits from longer average stays of 6.5 days, compared with around three days in other cities. This contributes to solid annual revenues of EUR 8,980 per property, despite more pronounced seasonality. August remains the peak period, with ADR reaching EUR 103.8.

Timișoara shows a stable performance, supported by business travel. The market includes 837 listed properties and generates average annual revenues of EUR 8,220 per unit. While August is the busiest month, the highest daily rates are recorded in December, indicating diversified demand.

In Iași, the number of listings increased by 6 percent to 563 units, but the city recorded the lowest occupancy rate among those analysed, at 47.4 percent. October marks the seasonal peak, with the highest ADR of EUR 51.3. For centrally located properties, long-term rentals remain a competitive alternative, with monthly rents for two-room apartments ranging between EUR 650 and EUR 850.

Market entering a consolidation phase

“August remains the best-performing month nationwide, due to the overlap between the summer season, music festivals and the main holiday period. The difference compared with previous years is that this peak performance no longer offsets a weak off-season. We are seeing a more even distribution of revenues throughout the year, which is a sign that Romania’s short-term rental market has moved beyond its early stage and is entering a phase of consolidation”, Timofte added.

The findings point to a maturing market, where performance is increasingly driven by asset quality, operational consistency and the ability to capture demand linked to events and tourism flows, rather than location alone.

JYSK to open new store at Turawa Park in August 2026

JYSK will open a new store at Turawa Park in August 2026, expanding its presence in regional retail locations. The unit will comprise 994 sq m of space within the scheme.

Located near Opole, Turawa Park is a mid-sized retail destination combining shopping, services and leisure. The centre forms part of the portfolio of Focus Estate Fund, which focuses on convenience-led retail assets serving local communities.

JYSK, which operates more than 3,400 stores across over 45 countries, offers a range of home furnishings, including furniture, bedding and accessories. The new store will provide customers with access to its product range in a local setting, including in-store browsing and order collection.

Sylwia Filimon, Communications Director at JYSK Poland, said: “We’re excited to open our doors at Turawa Park and introduce a fresh, customer-focused retail experience. Our new store combines convenience, inspiration, and quality to better serve the needs of today’s shoppers.”

Maxim Shkolnick, General Partner at Focus Estate Fund, added: “We are delighted to welcome JYSK to Turawa Park. Their 994 sq m store will further enrich the centre’s diverse mix of around 60 shops and services, giving local customers even greater access to high-quality home furnishings and everyday essentials. This addition reinforces Turawa Park as a convenient and attractive destination for everyday shopping.”

The opening marks a further step in the development of Turawa Park as a regional retail hub, reflecting continued demand for accessible, community-oriented shopping formats.

Office market outlook: hybrid use, space efficiency and repurposing shape future strategies

Europe’s office property market is undergoing a structural shift, as rising vacancy levels, evolving occupier requirements and stricter quality standards challenge traditional workplace concepts. New strategies are increasingly focused on hybrid use, space efficiency and alternative functions, according to insights shared at a press conference organised by RUECKERCONSULT.

Industry representatives from AUKETT + HEESE, CELLS Group, Covivio, FAY Projects and HIH Projektentwicklung highlighted how refurbishment, mixed-use concepts and repurposing are becoming central to maintaining asset value.

A key theme is the economic importance of expanding usable space. Much of Europe’s office stock dates back to before 2000 and is increasingly considered outdated in terms of layout flexibility and building systems. Anna Lena Stoephasius of AUKETT + HEESE noted that comprehensive refurbishments now aim to combine improved space efficiency, user experience and ESG performance.

Projects such as Karlsgärten in Berlin demonstrate this approach, where retaining the core structure while adding new floors and usable areas has generated additional lettable space and improved overall viability. According to Sebastian Nau of AUKETT + HEESE, the challenge lies in transforming rigid structures into flexible, sustainable work environments through targeted structural and façade interventions.

Developers are also focusing on space expansion as a key value driver. At the “Am Holstenwall” project in Hamburg, developed by CELLS, the building’s structure has largely been preserved while adding terraces and communal areas. The refurbishment increased the lettable area by more than 40 percent to 11,700 sq m, with the scheme reaching an 83 percent pre-letting rate ahead of completion in Q2 2026. The project combines office, retail and leisure functions.

The shift towards mixed-use developments is gaining traction across the sector. Covivio is applying this strategy at its “ICON” project in Düsseldorf, where office space is being complemented by hospitality-style services, catering and shared amenities. Katharina Greis, COO Offices Germany at Covivio, said such concepts are essential to maintaining long-term competitiveness by aligning properties more closely with occupier expectations.

However, not all assets can be repositioned through refurbishment or mixed-use integration alone. In some cases, a fundamental change of use is required. FAY Projects is repositioning its “CANNION” development in Stuttgart, originally planned as a single-use office scheme, into a mixed-use project incorporating a hotel, restaurants, fitness facilities and long-stay accommodation.

Repurposing is also gaining importance, particularly for structurally vacant or obsolete assets. HIH Projektentwicklung is converting a former office building on the HANOMAG site in Hanover into a school, reflecting growing demand from the education sector. Similarly, CELLS is transforming the former Deutsche Börse headquarters in Frankfurt into a campus accommodating three schools, with completion scheduled for May.

At the same time, restructuring of distressed or stalled developments is becoming more common. HIH Projektentwicklung is overseeing the repositioning of the KORYFEUM scheme near Munich, where original plans for additional office space are being revised in favour of alternative uses, including light industrial.

The overall direction of the market points to a more flexible, asset-specific approach. As traditional office demand patterns continue to shift, landlords and developers are increasingly required to tailor strategies to individual properties, combining refurbishment, functional diversification or full repurposing to ensure long-term viability.

HIH Invest sells Canalejas office building in Madrid to private investors

HIH Invest Real Estate has sold the “Canalejas” office building in central Madrid to a buyer backed by Spanish private capital. The asset, located at Calle de Alcalá 6, comprises 1,013 sq m of lettable space and is fully leased on a long-term basis to Banco Santander, which operates a flagship branch at the property.

The historic building, originally constructed in 1902, underwent extensive refurbishment completed in 2020. HIH Invest acquired the asset as part of a forward deal linked to the broader Canalejas regeneration project for one of its institutional funds.

Matthias Brodesser, Head of Transaction Office International at HIH Invest, said: “We originally acquired the property as part of the wider regeneration project in Canalejas, which has contributed significantly to the revitalisation of the surrounding area. As the fund approaches the end of its term, this sale enables our investors to achieve an excellent return through a well-timed and strategically executed exit. At the same time, the new owner benefits from the property’s high appeal, its prime location and the security of a long-term lease with a first-class tenant.”

Sebastian Pende, transaction manager at HIH Invest, added: “The transaction underscores the continued strong demand for high-quality retail and office properties in central locations in Madrid. The Spanish property market remains robust, particularly in the prime segment, driven by solid demand from tenants and investors coupled with limited supply.”

The property is located near Puerta del Sol, one of Madrid’s main commercial and transport hubs, known for its high footfall, strong retail presence and historic architecture.

CBRE acted as exclusive sales agent and carried out technical and environmental due diligence. Andersen provided legal advice, while KPMG advised on tax matters.

Older apartments post strongest annual price growth in Pardubice and Ústí regions

Older apartments in the Pardubice and Ústí regions recorded the fastest year-on-year price growth in the Czech Republic during the first quarter of 2026, with increases of around 20 percent in both markets, according to data from Sreality.cz.

The trend continues momentum seen in the previous quarter and is being driven in part by heightened investor interest in both regions. In the Ústí Region in particular, the gap in price growth between older apartments and new-build units was the most pronounced nationwide.

Across the Czech Republic, the average asking price for apartments reached CZK 89,612 per square metre in Q1 2026, representing an annual increase of just under 16 percent. In the Pardubice Region, average prices stood at CZK 70,666 per square metre, up 21 percent year-on-year. In the Ústí nad Labem Region, older apartments were priced at approximately CZK 46,333 per square metre, reflecting a 20 percent increase. Despite this growth, the region remains the most affordable housing market in the country.

Other regions also reported solid price increases for older housing stock, including Olomouc, South Bohemia, Moravian-Silesia and Pilsen. However, average prices in these areas remained below the national level, with the exception of Prague and the South Moravian Region. The capital continues to exert a strong influence on national averages, with older apartments reaching CZK 153,640 per square metre in the first quarter.

According to Hana Kontriš of Sreality.cz, investor activity in the Ústí Region has been supported by relatively low acquisition costs combined with comparatively strong rental yields and ongoing price growth. In the Pardubice Region, infrastructure development, particularly transport projects, is contributing to improved accessibility and increasing the attractiveness of well-located older properties.

In most regions, older apartments saw stronger price growth than new developments during the quarter. This divergence was most evident in the Ústí Region, where prices of new-build units rose by just 3 percent year-on-year. Notable differences were also observed in the South Bohemian and Zlín regions. By contrast, new housing outperformed older stock in the Liberec and Pardubice regions, while growth rates were broadly aligned in Hradec Králové, South Moravia and Central Bohemia.

The data highlights a continued shift in investor focus towards regional markets offering lower entry prices and stronger yield potential, particularly in segments of older residential stock.

Source: CTK

China introduces first comprehensive rules to protect industrial and supply chains

China has adopted its first dedicated legal framework aimed at safeguarding industrial and supply chain security, as geopolitical tensions and trade disruptions continue to shape global markets.

The new Provisions on Industrial and Supply Chain Security, issued by the State Council of the People’s Republic of China on 31 March 2026, took immediate effect. They establish a broad legal structure designed to strengthen resilience, manage risks and enable countermeasures against external pressures affecting China’s economic and industrial systems.

The regulation applies across both “industrial chains” and “supply chains”, treating them as complementary concepts. While the industrial chain covers the full lifecycle of a product, from research and raw materials through to manufacturing and sales, the supply chain focuses more narrowly on sourcing, logistics and inputs. In practice, the rules aim to protect the entire ecosystem rather than individual segments.

A key element of the framework is its focus on so-called “critical sectors”. Government authorities are expected to publish and regularly update a list of industries considered strategically important, although this has not yet been released. The scope of that list will determine how widely the rules apply in practice.

The provisions also extend beyond China’s borders. They allow authorities to take action against foreign governments, companies or individuals whose activities are deemed to harm China’s supply chain security, signalling an increasingly assertive regulatory stance.

Before this legislation, China relied on a range of separate laws to address external economic pressures, including the Foreign Relations Law of the People’s Republic of China, the Anti-Foreign Sanctions Law of the People’s Republic of China and export control rules. However, these were largely reactive or targeted at specific issues. The new provisions introduce a more coordinated, system-wide approach.

On the preventive side, the framework sets out mechanisms to improve supply chain resilience. These include the creation of information-sharing platforms, a national risk monitoring and early-warning system, and requirements for authorities to build strategic reserves in key sectors. Companies and industry groups are encouraged to report risks, while both central and local governments are empowered to introduce tailored mitigation measures.

The rules also emphasise technological self-sufficiency, encouraging investment in research and development while requiring companies and institutions to maintain control over critical technologies, data and systems.

Alongside these measures, the provisions introduce a set of investigative and enforcement tools. Authorities may intervene in cases where supply disruptions threaten national or economic security, including through direct involvement in production, logistics or distribution if approved at state level.

The regulation also outlines potential countermeasures against foreign actors. These range from trade restrictions and additional fees imposed at state level, to targeted actions against individual companies or persons. In more severe cases, entities could face limits on market access, investment, operations or even entry into China.

Notably, the rules allow enforcement to extend beyond directly affected entities to affiliated companies, regardless of ownership thresholds. This “look-through” approach increases potential exposure for multinational groups operating in or with China.

At the same time, the provisions create possible conflicts for international businesses. Companies complying with foreign sanctions or export controls may find those same actions interpreted as discriminatory or harmful under Chinese law, potentially triggering penalties.

Entities operating within China, including foreign-invested firms, are also required to comply with any countermeasures imposed. Failure to do so could result in restrictions on trade, data transfers, public procurement participation or even residency rights.

Overall, the new framework marks a shift towards a more proactive and centralised approach to managing supply chain risks. For companies with exposure to China, it introduces additional compliance considerations and highlights the need for closer monitoring of regulatory developments, particularly once the list of critical sectors is published.

Source: CMS

Romania’s logistics market slows after strong 2025, long-term outlook remains positive

Economic confidence among logistics sector companies in Romania declined in the first quarter of 2026, according to Eurostat data cited by Colliers, placing the country among the weaker performers in the European Union. Only Slovakia, Germany, Belgium and Hungary recorded larger drops compared with their historical averages.

The softer sentiment is reflected in the property market, where leasing demand for logistics and industrial space fell by 56 percent year on year to around 80,000 sqm in Q1 2026. Colliers notes that this figure is based on publicly available transactions, with additional activity taking place through direct agreements between landlords and tenants.

“The decline in industrial and logistics leasing follows a record year in 2025 and points rather to a temporary cooling of activity than to a structural shift in the market. The local logistics and industrial property market is in a balancing act between short-term pressures and long-term potential. At present, the environment is shaped by numerous uncertainties, both domestic – such as political tensions and weakening consumption at the start of the year – and external, where conflicts and global instability complicate development plans,” said Victor Coșconel, Partner | Head of Leasing | Office & Industrial Agencies at Colliers.

Market activity in the first quarter was influenced by a more cautious approach from occupiers, with many companies delaying expansion decisions and focusing on renegotiations or optimising existing space. Despite this, nearly three-quarters of recorded transactions represented new demand, contributing positively to occupancy levels.

Colliers also highlights a shift in demand structure, with more than half of leased space linked to manufacturing activities, significantly above historical averages in Romania.

“We do not believe that the real estate market can be assessed based on a single weaker quarter, particularly given that the fundamentals supporting Romania in the long term remain solid. This is also supported by favourable elements in the demand structure, such as the high share of new demand in the first quarter, as well as the strong weighting of manufacturing spaces. Furthermore, the progress of infrastructure projects, with nearly 900 kilometres of motorways currently under construction and many more planned, could significantly accelerate the development of the logistics and manufacturing sectors, provided that internal factors are better managed. At the same time, the growing interest of developers in industrial and logistics projects confirms that the outlook remains positive,” added Victor Coșconel.

Romania continues to face a relative shortage of modern industrial and logistics space compared with other Central and Eastern European markets. Total stock has surpassed 8 million sqm and could exceed 9 million sqm by the end of 2027, depending on demand conditions.

Over the longer term, supported by infrastructure investment, competitive costs and labour productivity, the market could expand to around 15 million sqm by the end of the next decade, assuming stable external conditions.

Manta leases space at City Point Targówek in Warsaw

Peakside Capital Advisors has signed a new lease agreement with Manta at City Point Targówek, as the developer continues the commercialisation of its urban logistics scheme in Warsaw.

Manta, a manufacturer and distributor of consumer electronics, will occupy more than 3,000 sqm in the project. The space includes approximately 2,500 sqm dedicated to warehouse and service functions, alongside around 600 sqm of office and staff areas. The unit is located in the newly developed C1 hall.

The lease marks a return for Manta to the Targówek district, where it previously operated, underlining the area’s role within Warsaw’s logistics network.

Hall C1 will deliver approximately 17,000 sqm of space, a significant share of which has already been leased. The building is being developed with a focus on environmental performance, including photovoltaic installations, rainwater reuse systems and design features aimed at reducing the urban heat island effect.

The scheme will provide access via loading docks and ground-level gates, and will be connected to the district heating network. Additional features include natural daylight through roof skylights, employee-focused amenities such as recreational areas and social spaces, as well as electric vehicle charging points and bicycle facilities.

“We are developing City Point Targówek as a next-generation urban logistics project. In addition to warehousing functions, it also encompasses manufacturing activities and innovative technological solutions. In such a central location, this is a unique approach. We are responding to the growing demand from companies operating in the last-mile model by offering urban warehouse modules. Such spaces are currently among the scarcest on the market, particularly in locations with good transport links to the centre of Warsaw. The interest in Hall C1 confirms that tenants are looking for more than just warehouse space. Environmental standards, working comfort and the ability to adapt the facility to the nature of the business are also becoming increasingly important. Our aim is to create parks that combine operational efficiency with a quality previously associated mainly with modern office projects,” said Olga Wałkiewicz, Leasing Director at Peakside Capital Advisors.

Once completed, City Point Targówek is expected to offer around 100,000 sqm of warehouse and production space. The project is being developed as a brownfield scheme and is targeting high environmental certifications, including BREEAM “Outstanding”, LEED “Platinum” and WELL HSR.

The development is part of a joint venture between Partners Group and Peakside Capital Advisors, focused on delivering urban logistics assets in key city locations.

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