Mostostal Warszawa posts PLN 12.85 million net profit in Q3 2024

Mostostal Warszawa recorded a consolidated net profit of PLN 12.85 million in Q3 2024, a significant increase from the PLN 2.04 million reported in the same period last year, the company announced.

The company’s operating profit (EBIT) also showed strong growth, reaching PLN 20.85 million in Q3, up from PLN 13.66 million a year earlier. Consolidated sales revenues for the quarter rose to PLN 469.23 million compared to PLN 448.29 million in Q3 2023.

Despite the Q3 gains, Mostostal Warszawa faced challenges earlier in the year. In Q1 2024, the company reported a net loss of PLN 10.64 million compared to a profit of PLN 6.81 million in Q1 2023, with sales revenues declining to PLN 1,123.95 million from PLN 1,233.61 million a year prior.

Performance across business segments was mixed. Revenues for the Industry and Energy Group stood at PLN 166.89 million in Q1-Q3 2024, down from PLN 255.69 million a year earlier. The Infrastructure segment saw a modest increase to PLN 667.53 million from PLN 658.17 million, while General Construction revenues dropped to PLN 275.66 million from PLN 303.36 million.

On a unit basis, Mostostal Warszawa reported a net loss of PLN 6.73 million for the first nine months of 2024, compared to a profit of PLN 2.11 million in the same period last year.

Mostostal Warszawa is one of Poland’s leading construction companies, with operations spanning all major sectors of the construction industry. The firm specializes in general investment execution and turnkey projects for both domestic and international clients. Listed on the Warsaw Stock Exchange since 1993, the company reported consolidated sales revenues of PLN 1.68 billion in 2023.

The strong Q3 results indicate a recovery in profitability for Mostostal Warszawa, with its infrastructure projects contributing to the gains. The company’s continued focus on key sectors and strategic investments is expected to drive further growth in the coming quarters.

Source: Mostostal Warszawa and ISBnews

Nhood Services Poland opens first retail park at Auchan Mikołów Shopping Centre

The first retail park developed by Nhood Services Poland officially opened today at the Auchan Mikołów Shopping Centre. The 5,400-square-meter facility, located at 2 Cieszyńska Street, is fully leased and brings together a variety of international and local brands. This project marks a significant milestone for Nhood Services Poland as its first venture into retail park development.

The grand opening, held at 11 a.m., was attended by representatives from local administration, project partners, and customers. Among the special guests was Stanisław Piechula, Mayor of Mikołów.

“We developed this retail park to meet the needs of tenants seeking large retail spaces, some exceeding 500 square meters,” said Marcin Stokowiec, Development Director at Nhood Services Poland. “With this investment, we have attracted renowned brands, creating a strong shopping destination in combination with the neighboring Auchan Mikołów Shopping Centre.”

The retail park has been fully leased since its design phase, with tenants including DM, Martes Sport, Maxi Zoo, Media Expert, RTV Euro AGD, TEDi, Sinsay, and the 1 Minute Smacznego concept.

The project faced significant challenges due to the site’s post-industrial nature and difficult ground conditions. Specialized geotechnical solutions, including piling and soil solidification, were implemented to ensure stability and environmental safety. These efforts were part of a comprehensive remediation process aimed at improving the site’s properties while benefiting the surrounding environment.

“We are proud to celebrate the opening of this facility after just 10 months of construction. This success is due to the collaboration of many dedicated teams, including our general contractor, Infine,” said Marcin Wawiernia, Project Manager at Nhood Services Poland.

Infine’s representative, Tomasz Sikora, highlighted the advanced construction techniques and eco-friendly materials used to create a modern and functional retail space. “The project meets the highest standards of construction while addressing the needs of both tenants and the local community,” he said.

The retail park boasts an innovative and sustainable design, with an original façade that complements the ongoing modernization of the neighboring Auchan Shopping Centre. Large, 4-meter-high shop windows provide ample visibility for tenants, while light lines emphasize the architectural form of the building.

Ecological elements include climbing plants designed to cover an entire wall, newly planted trees in the parking area, and amenities such as watering points and a bicycle service station. Energy-saving solutions like photovoltaic panels and CO2 sensors enhance the building’s efficiency, while high-quality materials contribute to long-term energy savings.

The retail park extends the walkway of the Auchan Mikołów Shopping Centre, with a continuous roof allowing customers to shop comfortably in any weather.

Nhood Services Poland not only oversaw the planning, design, and construction of the project but will also handle its daily management and tenant relations. The retail park is expected to become a central shopping destination in the region, offering convenience, sustainability, and a diverse mix of retail options.

This development underscores Nhood Services Poland’s commitment to creating modern, customer-centric commercial spaces while addressing environmental and community needs.

Panattoni breaks ground on PLN 100 million appliance component factory in Łódź

Panattoni has laid the cornerstone for the construction of a domestic appliance component factory in Łódź. The cornerstone-laying ceremony marks the launch of an investment valued at over PLN 100 million.

The 15,000-square-meter facility, located just 8 kilometers from downtown Łódź and 4 kilometers from the A1 motorway, is designed as a build-to-own project tailored to E.G.O.’s technological and operational needs. Construction began in July and is set to be completed by the fourth quarter of 2025.

The ceremony was attended by senior representatives from E.G.O., Panattoni, and local authorities. Dr. Karlheinz Hörsting, CEO of the E.G.O. Group, emphasized the significance of the new facility. “Today’s groundbreaking marks the beginning of a new chapter in the history of the E.G.O. Group here in Łódź. This building is a testament to our commitment to this location and our drive to innovate.”

Panattoni’s leadership echoed this sentiment, highlighting the partnership’s impact on the region’s growth. “A build-to-own facility is always a tremendous vote of confidence in the developer. We are proud that E.G.O. has entrusted us with such an important project. By delivering ambitious developments for market leaders, we contribute to the economic development of the entire region,” said Marek Dobrzycki, Partner at Panattoni.

Katarzyna Kujawiak, Development Director at Panattoni, added, “The location near the city center provides excellent accessibility for employees and space for future expansion. The facility has been meticulously designed in collaboration with E.G.O.’s team to meet their technological requirements and support their continued growth.”

Panattoni has been instrumental in transforming the Łódź region into a hub for industrial and logistics development, with over 2.3 million square meters of warehouse and production space completed. This includes the Central European Logistics Hub, one of the largest industrial complexes in Europe.

The new facility in Łódź reinforces Panattoni’s leadership in industrial real estate and underscores the strategic importance of the region for global manufacturers like E.G.O. The project is expected to further strengthen Łódź’s position as a center for innovation and economic growth.

M2C projects record sales of over CZK 5 billion in 2024

Czech facility management company M2C, employing over 8,500 people across 13 European countries, is poised to achieve the best financial results in its 32-year history. For the first three quarters of 2024, the company reported a 21% increase in turnover compared to the same period last year, with expectations of reaching a record total turnover of CZK 5.02 billion by year-end, marking a 16% annual growth.

CEO Matěj Bárta credits the company’s impressive performance to technological innovation and international expansion. “We are planning to enter markets in the USA and stable countries in the Middle East. These are regions where we aim to expand our range of technology solutions and strengthen our global presence,” Bárta said.

M2C’s flagship offerings include the advanced M2C Space remote monitoring system and the Welcomo automated reception service. The company’s capabilities have also been bolstered by the recent acquisition of Good Sailors, a software firm employing professionals with disabilities, which is contributing to the development of M2C’s technology-driven services.

For the first nine months of 2024, the company reported a turnover of CZK 3.7 billion, based on preliminary unconsolidated data. Achieving the projected CZK 5.02 billion in total turnover would set a new benchmark for the company’s performance.

Facility management remains M2C’s cornerstone, encompassing comprehensive building management services. “Property care is a fundamental need that persists regardless of economic conditions. Regular maintenance and upgrades not only preserve a building’s value but also unlock its full potential,” Bárta explained.

M2C’s focus on providing added value to clients by optimizing property functionality and efficiency has solidified its reputation as a leader in the industry.

As M2C eyes expansion into new markets and continues to enhance its technological offerings, the company is positioned for sustained growth. With a robust portfolio of services and a commitment to innovation, M2C is setting the stage for another record-breaking year in 2025.

NEPI Rockcastle Report: CEE retail market outpaces Western Europe amid strong economic growth

Central and Eastern Europe (CEE) is rapidly closing the income gap with Western Europe, driven by robust economic growth and rising consumer spending in markets like Poland and Romania. This trend is attracting international and regional retailers to CEE’s modern shopping centers, which offer higher margins and lower operating costs, according to NEPI Rockcastle’s report, New Europe: The Future of Retail Development in CEE.

The report highlights that GDP growth in CEE markets where NEPI Rockcastle operates is projected to reach 3.16% in 2025, significantly outpacing the Eurozone’s forecast of 1.5%. Between 2012 and 2023, GDP growth in CEE countries such as Poland (3.3%) and Romania (3.2%) consistently outperformed the EU average of 1.3%.

“Retail real estate in the CEE markets offers significant growth potential, far exceeding that available in Western Europe,” said Marek Noetzel, COO of NEPI Rockcastle. “Consumers in Poland and Romania are showing increasing confidence in their household incomes, which is reflected in higher spending and turnover at our shopping centers. Strong demand for space from both international and regional brands is driving rents and higher net operating income.”

CEE is benefiting from strong real wage growth, which has bolstered private consumption and retail sales. While Western Europe’s main markets—France, Germany, and the UK—have experienced declining retail sales over the past two years, CEE markets are seeing sustained growth.

Large, modern shopping centers in CEE have become central retail and social hubs, with their share of total retail volume often exceeding 50%. Unlike Western Europe, where smaller shopping centers face challenges from e-commerce and rising costs, CEE shopping centers are thriving. According to NEPI Rockcastle, two-thirds of CEE consumers prefer in-person shopping experiences, and the region’s shopping centers are well-positioned to deliver.

“Lower operating costs, higher margins, and the dominance of well-positioned shopping centers in CEE make them attractive to retailers, food and beverage operators, and entertainment companies,” the report states. Even in smaller cities and less affluent areas, CEE shopping centers outperform Western European counterparts in attracting retailers and customers.

In contrast, Western Europe’s retail market is grappling with oversaturation, high operating costs, and lingering effects of the pandemic. Main shopping streets and smaller centers in less developed areas struggle to compete with e-commerce, while high construction costs and stringent environmental regulations have stalled retail space development. Shopping center retail space growth in Western Europe has slowed to just 0.4%, with some countries like Germany, Spain, and Italy seeing declines.

The report notes that rents in prestigious high street and shopping center locations across Western Europe have dropped by an average of 14% since their peak in 2019.

NEPI Rockcastle, which operates a €7.4 billion portfolio of 56 retail properties across eight CEE countries, is uniquely positioned to capitalize on the region’s retail growth. The company owns 14 shopping malls in Poland alone.

As Western European markets stagnate, CEE continues to attract investment, offering retailers opportunities to tap into growing consumer confidence and rising household incomes. With international and regional brands vying for space, NEPI Rockcastle’s CEE assets are positioned to benefit from this upward trajectory, making the region a standout performer in the global retail landscape.

Source: NEPI Rockcastle and ISBnews

Europe’s largest heat pump installed at CTPark Warsaw West

CTP has partnered with Raben Group, a global logistics leader, to complete Europe’s largest heat pump installation at CTPark Warsaw West. The installation, which is second in scale only to a facility in Japan, features 87 Mitsubishi Electric heat pump units with a combined capacity of 12.4 MW. These units will provide heating and cooling for two warehouses spanning 110,000 square meters.

The €100 million zero-emission logistics park in Wiskitki is part of CTP’s broader sustainability strategy, featuring photovoltaic-powered systems and no fossil fuel usage for heating. Raben Group, which leased the 110,000 square meters in 2023, plans to use the facilities for warehousing and logistics operations, including packaging and contract logistics. The group will move into the facility later this year.

The heat pumps, designed by Mitsubishi Electric, are integrated with underfloor heating systems to optimize energy use and reduce environmental impact. According to Raben Group, the technology will cut carbon dioxide emissions by 700–750 MgCO2e annually compared to gas-heated warehouses of a similar size.

“We are proud that our Mitsubishi Electric units were selected for this ambitious project,” said Piotr Gęśla, Deputy Division Manager at Mitsubishi Electric. “This installation, the largest in Europe, exemplifies innovation in the warehouse and logistics market. Combined with CTPark Warsaw West’s zero-emission infrastructure, it sets a benchmark for operational efficiency and environmental compliance.”

The project aligns with Raben Group’s decarbonization strategy and CTP’s commitment to sustainable development. “Ensuring the highest standards, safety, and minimal environmental impact are our key objectives,” said Tomasz Spychalski, Group Facility Manager at Raben Real Estate. “The heat pumps, combined with underfloor heating, offer both operational efficiency and significant reductions in carbon emissions.”

The installation consists of 150 kilometers of pipes, allowing precise temperature zoning within the warehouses. The system includes eight cascades of pumps for underfloor heating and chilled water production for cooling storage spaces. Each pump features advanced inverter compressors, ensuring reliable operation even at temperatures as low as -20°C.

CTP’s Managing Director, Piotr Flugel, emphasized the importance of the partnership with Raben Group, which spans more than a decade. “The 10-year lease at Warsaw West allowed for such an extensive heat pump installation. This project demonstrates our ability to tailor solutions to meet specific client needs, and we are proud to host Europe’s largest heat pump installation outside Japan.”

CTPark Warsaw West sets a new standard for sustainable logistics and industrial properties. By integrating cutting-edge heating and cooling technology with renewable energy sources, the facility underscores the importance of innovation in achieving environmental and operational goals in the logistics sector.

ATAL expands offer at Osiedle Przyjemne in Gdańsk with 79 new flats

Nationwide developer ATAL has announced the addition of 79 new flats to its Osiedle Przyjemne project in Gdańsk. The flats will be built in two of the nine planned buildings in the development, which is located on Flisykowskiego Street. The site’s prime location offers convenient access to other parts of the city, as well as proximity to recreational areas and a rapidly growing retail and service infrastructure. Prices for the new units range from PLN 10,200 to PLN 12,900 per square metre.

The new flats, designed to meet the growing market demand for compact, efficiently laid-out living spaces, will have an average size of 45 square metres. “Half of the flats in this new phase are two-room apartments, catering to the needs of a wide range of buyers,” said Agnieszka Majkusiak, Sales Director at ATAL.

This latest phase offers flats ranging from 28 to 63 square metres, with layouts spanning one to three rooms. Turnkey finishing packages are available at an additional cost of PLN 999 to PLN 1,699 per square metre, depending on the selected ATAL Design package.

Residents will benefit from a variety of conveniences, including outdoor parking spaces, underground garages, storage rooms, and dedicated bicycle facilities. The development will also feature modern architecture that blends seamlessly with the natural surroundings. The light-coloured façades, accented with natural mineral clinker tiles, and large, glazed balconies are designed to harmonize with the greenery and nearby water reservoir.

Some buildings in the development will offer water views, providing residents with a serene outlook from their windows, balconies, and terraces. The estate will also include thoughtfully designed communal areas, leisure zones, and rain gardens to support sustainable water retention and diverse plant compositions. Intelligent lighting will enhance safety across the development.

Osiedle Przyjemne will be adjacent to the planned 77-hectare South Park, which will serve as an ecological hub for the area. The development’s proximity to existing green spaces, walking and cycling paths, and recreational infrastructure adds to its appeal. Educational facilities and a variety of retail options, including a large shopping centre and a DIY store, are within walking distance.

The estate is also well-connected to Gdańsk’s public transport network. A nearby bus stop offers convenient access to various parts of the city, with the city centre reachable in about 20 minutes. Quick access to exit roads and the S6 expressway further enhances connectivity.

The expansion of Osiedle Przyjemne reflects ATAL’s commitment to combining modern living with sustainable development and excellent location advantages, making it an attractive choice for buyers in Gdańsk.

Catella forms €10 billion investment management platform

Catella has announced the strategic merger of the front office operations of its subsidiaries, Catella Residential Investment Management GmbH (CRIM) in Berlin and Catella Real Estate AG (CREAG) in Munich, to form Catella Investment Management GmbH (CIM). Effective January 1, 2025, the merger aims to create a unified, €10 billion fund investment management platform designed to enhance operational efficiency and client services.

The newly established CIM will manage and advise assets across more than 25 funds, encompassing properties in 15 countries throughout Europe. The consolidation enables greater resource sharing, the development of innovative products, and improved service offerings for clients, according to Catella.

“I am proud that we are combining the expertise and resources of CRIM and CREAG’s front offices, reinforcing our strength as a unified presence in the market,” said Timo Nurminen, Head of Investment Management at Catella. “This merger creates a more efficient platform, backed by close to 150 dedicated professionals.”

The merger will integrate CRIM’s operations with the property-related activities of CREAG, including asset and portfolio management, resulting in a streamlined and more effective investment management platform. CRIM will be renamed Catella Investment Management GmbH (CIM) to reflect its expanded scope, offering a comprehensive product range across multiple property sectors.

While CREAG will retain its role as the Alternative Investment Fund Manager (AIFM) with existing back-office functions for open-ended regulated funds, CIM will focus on front office operations, uniting teams in Berlin, Munich, and Vienna.

The organizational restructuring aligns with Catella’s strategic goals of leveraging synergies across its group and expanding its portfolio into value-added products. The controlling entity, Catella Investment Management Holding GmbH (CIM Holding GmbH), will oversee office management, HR, IT, and ESG advisory services for both CIM and CREAG.

CIM’s front office will be led by Managing Directors Michael Keune and Michael Fink, while CREAG’s AIFM operations will be managed by Olena Posiko and Bernd Thalmeier, with Thalmeier also serving as the spokesperson for CREAG. Volker Stix has been appointed Managing Director of CIM Holding GmbH.

“With this organizational change, our ability to serve clients’ interests will improve significantly,” said Keune and Fink. “We will continue to work with the same teams in Berlin, Munich, and Vienna, providing excellent opportunities to diversify and expand our portfolio across residential, office, parking, logistics, and mixed-use sectors.”

The merger aims to position Catella as a leader in the competitive European market. “By pooling our expertise, resources, and technologies, we are creating a powerful platform for our investors and partners,” added Thalmeier. “Our goal is to respond effectively to investor needs while maintaining the highest standards of quality and transparency.”

Headquartered in Berlin, CIM will play a pivotal role in driving Catella’s strategic vision, ensuring the company’s continued growth and innovation in the evolving real estate market.

German car manufacturer leases space in Garbe’s Ludwigsau logistics property

Garbe Industrial Real Estate GmbH has secured its first tenant for its newly constructed logistics property in Ludwigsau, located in the Hersfeld-Rotenburg district of Germany. A leading German car manufacturer will occupy approximately 32,000 square metres of the facility to store original spare parts. The Hamburg-based real estate company has invested around €100 million in the strategically located site in Northern Hesse.

“Even in economically challenging times, it pays to develop sites in the right locations with a view to the future,” said Adrian Zellner, Member of the Executive Board of Garbe Industrial Real Estate. “This successful lease agreement underscores the high quality and prime location of the new property.”

Constructed speculatively without fixed rental commitments, the property was designed as a multi-user facility. The car manufacturer will utilize around one-third of the total 86,000-square-metre space. The remaining 57,000 square metres, which include hall space, offices, social rooms, and mezzanine areas, are still available for lease. Units can be divided into areas of approximately 8,400 square metres or more, making the property particularly appealing to companies in the commercial, light industrial, and logistics sectors.

“We are currently in discussions with potential users for the remaining spaces, which offer modern, sustainable construction in a highly attractive location,” added Zellner.

Located on a 191,000-square-metre site in the Mecklar-Meckbach industrial estate, the logistics centre consists of two parallel buildings with a total clear height of 12.20 metres and a floor load capacity of six tonnes per square metre. Built by general contractor Fabrikon, the facility also includes approximately 7,000 square metres of intermediate-level space and 3,000 square metres for offices and social rooms.

As part of its commitment to environmental sustainability, some areas of the property have been sealed with a film to prevent the leakage of substances hazardous to water.

The Ludwigsau property represents a significant investment by Garbe Industrial Real Estate, emphasizing its strategy to develop future-proof logistics sites in key locations. The region’s excellent connectivity and infrastructure have positioned the site as a hub for industrial and logistics operations.

This lease agreement further demonstrates the increasing demand for modern, versatile logistics spaces, even in uncertain economic times. With negotiations underway for the remaining space, Garbe anticipates further tenants in the near future.

€30 million solar park investment underway in Poland

The renewable energy investment company Atsinaujinančios Energetikos Investicijos, owned by Lords LB Asset Management, has announced the construction of a 48 MW solar park in Poland. Valued at €30 million, the project marks the company’s continued commitment to expanding its renewable energy portfolio in the region.

The development comes after the signing of a contract with P&Q, one of Poland’s largest contractors, marking the first collaboration between the two companies. “This is our first contract with this contractor, but we are familiar with their work through previous negotiations,” said Kristina Bugaitienė, Business Development Manager at Atsinaujinančios Energetikos Investicijos.

The solar park, expected to be operational by the end of 2025, will feature custom-built solar modules and inverters supplied by Trina Solar, one of the world’s leading manufacturers of vertically integrated solar panels. Preparations for the project are already underway, with P&Q preparing the construction sites and grid connections already in place for some plants.

The 48 MW solar park is the second phase of a broader 114.5 MW solar project in Poland. The first phase, comprising a 66.5 MW solar park, has already been completed. Once the new phase is finalized, the total investment in the portfolio will reach €70 million, with the capacity to supply clean energy to approximately 9,600 households.

The electricity generated by the solar park will be sold directly on the market without specific supply contracts. “All of our renewable energy projects participate in the Contract for Difference (CfD) auction, ensuring a fixed price for part of the electricity sold,” Bugaitienė explained.

With this latest project, Atsinaujinančios Energetikos Investicijos now has a total solar energy portfolio of 250 MW in Poland. The company is also a significant investor in Lithuania’s renewable energy sector, operating wind parks with a combined capacity of 186 MW.

The new solar park underscores Poland’s growing prominence in renewable energy development and reinforces Atsinaujinančios Energetikos Investicijos’ commitment to advancing sustainable energy solutions in the region.

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