Panattoni and Eika Asset Management Start 46,000 sqm Logistics Development Near Kraków

Panattoni⁠ and Eika Asset Management⁠ have commenced the development of Panattoni Park Kraków West IV, a new logistics project in Skawina within the Kraków metropolitan area. The development will provide more than 46,000 sqm of warehouse and industrial space and is scheduled for completion in July 2027.

The project follows the acquisition of a nine-hectare site in Skawina by Eika Asset Management, while Panattoni will oversee the development process as part of the companies’ ongoing partnership. Construction is expected to begin during the summer of 2026.

The first tenant has already secured close to 17,000 sqm within the scheme. The company, a distributor of wood-based panels, will use the facility for warehousing and distribution operations serving both wholesale and retail customers. The lease also includes approximately 800 sqm of office and social space across two floors, with operations expected to commence in the third quarter of 2027.

According to Eika Asset Management, strong occupier interest prior to the start of construction reflects continued demand for modern logistics assets in Poland. The company views the project as part of its broader strategy of investing in warehouse and distribution properties across the country.

Panattoni highlighted the limited availability of development land in the Kraków region, noting that demand from logistics, manufacturing and e-commerce occupiers continues to support new projects in the market. The developer sees the launch of Panattoni Park Kraków West IV as a response to occupier demand for modern and operationally efficient warehouse facilities in southern Poland.

The development is located near National Road 44, the Skawina bypass, and close to the A4 motorway, providing access to domestic distribution networks as well as international transport routes towards southern Europe.

Panattoni Park Kraków West IV has been designed to accommodate tenants from the logistics, e-commerce, light manufacturing, automotive, technology and FMCG sectors. Flexible unit configurations will allow occupiers to adapt space according to operational requirements.

The project is targeting a BREEAM Excellent certification and will incorporate energy-efficient and sustainability-focused features. According to Eika Asset Management, occupiers are increasingly prioritising operational efficiency, energy performance and environmental standards when selecting warehouse facilities, contributing to stronger demand for modern logistics assets compared with older stock.

The development adds to the growing pipeline of logistics projects in southern Poland, where land constraints and sustained occupier activity continue to support new investment despite a more selective market environment.

CASPYAN Marks Construction Milestone at Konstanta Karlín Residential Development

CASPYAN has marked a key construction milestone at its Konstanta Karlín residential project in Prague 8 with the ceremonial laying of the foundation stone. The development, located on Kollárova Street in Karlín, entered construction in September 2025 alongside the launch of apartment sales.

According to the developer, 23 of the project’s 44 residential units have been sold, representing approximately 55 percent of the available apartments. Completion of the building’s structural works is scheduled for April 2027, while final approval is expected by the end of that year. Residents are anticipated to begin moving into the development in spring 2028.

The project is being developed and financed by CASPYAN in cooperation with general contractor Arch Construct, architectural studio Karlínblok and sales agency IKONIX. The development forms part of the portfolio of CASPYAN FUND SICAV.

Konstanta Karlín will comprise 44 apartments ranging from studio layouts to three-room units, together with three ground-floor commercial premises. The scheme also includes a penthouse apartment measuring 351 sqm, featuring a private lift and rooftop terrace overlooking Prague.

The building has been designed around a sheltered inner courtyard intended to provide residents with additional privacy. Its corten steel façade references the industrial heritage of Karlín, a district that has undergone significant transformation over the past two decades and has become one of Prague’s established residential and office locations.

The project benefits from proximity to public transport, including the Křižíkova metro station and nearby tram connections. Florenc transport hub and Prague’s main railway station can be reached within a short journey from the site.

Commenting on the milestone, Kamil Jankovský, who oversees the real estate portfolio of CASPYAN and serves on the supervisory board of CASPYAN FUND SICAV, said that the start of the main construction phase represents an important step in the delivery of the project. He noted that the development combines a central Prague location with contemporary architecture and long-term residential and investment appeal.

SwitchUp Enters the Polish Market with Lease at AFI Office House

International flexible office operator SwitchUp has entered the Polish market, signing a lease for approximately 2,100 sqm at AFI Office House in Warsaw. The agreement marks the company’s first location in Poland and forms part of its expansion across Central and Eastern Europe.

The new workspace is currently undergoing fit-out works and will ultimately occupy two floors of the office building, which is part of the Towarowa22 mixed-use development near Rondo Daszyńskiego. The opening is scheduled for July or August 2026.

Before selecting its first Polish location, SwitchUp evaluated Warsaw’s office market and reviewed a range of available options. According to the company, AFI Office House was chosen due to its location within one of the city’s main business districts, the quality of the building and limited availability of new office space in the surrounding area.

Thomas Jodar, General Manager Poland & CEE at SwitchUp, said that Warsaw represents an important step in the company’s international growth strategy. He noted that the operator plans to offer fully furnished office space designed to combine flexibility with a high standard of fit-out and the possibility of adapting the workspace to occupier requirements.

SwitchUp’s operating model combines features of flexible office solutions with elements more commonly associated with traditional office leasing. The company offers longer-term occupancy options, including lease agreements starting from three years, while providing dedicated office space tailored to individual tenants.

According to AFI Poland, the agreement completes the leasing of AFI Office House and adds a flexible workspace component to the building’s occupier mix.

Grzegorz Jamroziak, Asset Management Director at AFI Poland, said that the addition of a flexible office operator broadens the building’s offering and responds to changing workplace requirements among occupiers. He added that the agreement reflects demand from international operators seeking modern office space in well-connected locations in Warsaw.

SwitchUp was advised during the transaction by the Warsaw office of Savills, which represented the tenant and provided project management services. The advisory process included market analysis, location selection, lease negotiations and coordination of technical and project-related aspects associated with the fit-out and launch of the new workspace.

The Savills team involved in the transaction included Michał Karolkiewicz, Senior Consultant, together with Piotr Stańko, Associate Director, and Paula Urbanek-Barreto, Senior Project Manager.

Once operational, the new facility will provide flexible office space for companies seeking ready-to-occupy workspace in the Rondo Daszyńskiego office district.

Investor Acquires HelloParks Logistics Facility in Fót

HelloParks has completed the sale of its FT1 logistics warehouse in the Fót industrial park north of Budapest to an international investor. The transaction closed on 20 May 2026.

The asset comprises approximately 46,000 sqm of logistics space and is fully leased. According to the seller, the property has a weighted average unexpired lease term of four years. Current occupiers include automotive manufacturer BYD and technology company HTNS.

The warehouse is located within the HelloParks Fót logistics park, where four completed buildings provide a combined 160,000 sqm of industrial and logistics space. The developer reports that all completed facilities within the park are fully occupied.

FT1 has been certified BREEAM New Construction Excellent and has been developed in accordance with EU Taxonomy requirements for sustainable investments.

Gábor Futó, Founder of HelloParks and Futureal Group, said the transaction reflects increasing investor interest in Hungary’s industrial and logistics sector. He noted that declining risk premiums and lower government bond yields have improved the country’s investment profile in recent months.

The identity of the purchaser and the financial details of the transaction were not disclosed.

According to the buyer’s representative, the property’s location, sustainability credentials, tenant profile and operational platform were among the factors supporting the acquisition decision.

Legal due diligence for the purchaser was provided by Baker McKenzie Hungary, while Teknik advised on technical due diligence matters.

HelloParks continues to develop and operate logistics and industrial facilities across Hungary, focusing on energy-efficient buildings and flexible warehouse solutions.

Market participants note that investor sentiment towards Hungary has improved during 2026, supported by lower financing costs and expectations of further monetary easing. Some investors believe this could contribute to increased liquidity and stronger investment activity in the industrial and logistics sector over the medium term.

Kago Sushi Extends Lease at Hala Koszyki and Reopens in New Concept Format

A long-standing tenant of Warsaw’s Hala Koszyki has renewed its commitment to the food hall as restaurateur Alon Than extended his lease and unveiled a redesigned restaurant concept under the new Kago Sushi & Ramen brand.

The announcement comes as Hala Koszyki marks its tenth anniversary, with the renewed agreement highlighting the continued presence of one of the venue’s original gastronomic operators. Kago Sushi has operated at the destination since its reopening in 2016 and has now undergone a comprehensive refurbishment and repositioning.

The approximately 110 sqm restaurant, together with its adjacent outdoor seating area, has been redesigned and relaunched as Kago Sushi & Ramen. The updated concept introduces an expanded menu centred on traditional Japanese cuisine, including a stronger focus on ramen and an omakase dining experience, where dishes are selected and prepared by the chef using seasonal ingredients.

Than, whose culinary work received recognition in the 2026 Michelin Guide through his Alon Omakase project, said the repositioning reflects changing consumer expectations and growing demand for authentic premium dining experiences in Warsaw.

The refurbishment included a complete redesign of the interior, drawing on Japanese-inspired minimalism and the Japandi aesthetic. Natural materials such as wood, stone, plaster and exposed brick were incorporated into the design, while soft lighting and subtle decorative elements were introduced to create a more intimate dining environment.

According to management at Hala Koszyki, the lease extension demonstrates the venue’s ability to retain established operators while adapting its offer to evolving market trends. The food hall has increasingly focused on strengthening its position as a destination for dining, social events and lifestyle experiences in the Polish capital.

Weronika Maria Kuna, MRICS, Asset Management & Leasing Manager at Globalworth⁠, owner of Hala Koszyki, said the long-term partnership with Alon Than reinforces the venue’s strategy of supporting established hospitality concepts and maintaining a high-quality tenant mix.

Over the past decade, Hala Koszyki has developed into one of Warsaw’s best-known food and leisure destinations, combining restaurant concepts, cultural programming and retail offerings within a restored historic market hall. The relaunch of Kago Sushi & Ramen forms part of the venue’s ongoing effort to refresh its culinary offering while retaining successful operators that have contributed to its growth since reopening.

Griffin Capital Partners and PRIMESTAR launch Prime Griffin Hotels

Polish investment and asset management firm Griffin Capital Partners and German hotel operator PRIMESTAR Group have established Prime Griffin Hotels, a joint venture aimed at creating one of Poland’s largest integrated hospitality platforms.

The partnership, owned equally by both firms, combines Griffin Capital Partners’ experience in investment, development and asset management with PRIMESTAR’s hotel operating expertise. The venture has been created to pursue opportunities in Poland’s expanding hotel market, where tourism, business travel and investor interest continue to support sector growth.

Prime Griffin Hotels will operate through a fully integrated model covering investment, development, asset management and hotel operations. The company plans to focus on Poland’s largest urban centres, including Warsaw, Kraków, Wrocław, Katowice, Łódź, Poznań and Gdańsk.

The platform will target hotels with more than 100 rooms across the midscale, upscale and luxury segments. Investment strategies will include acquisitions, new developments, conversions, repositioning projects and operating partnerships. The venture intends to work with major international hotel brands including Hilton⁠, IHG Hotels & Resorts⁠, Marriott International⁠ and the JUNE hotel brand, while remaining open to additional partnerships.

Griffin Capital Partners currently manages investments with a gross asset value exceeding €11 billion across 20 platforms. Its previous ventures include residential rental platform Resi4Rent, rental housing operator LifeSpot, and student accommodation businesses Student Depot and StudentSpace.

PRIMESTAR brings operational experience from 21 hotels with 4,389 rooms across 13 cities in three countries. The company operates several internationally branded hotels, including some of the largest Hampton by Hilton⁠ and Holiday Inn Express⁠ properties in continental Europe. The group also contributes its proprietary JUNE hotel concept and digital operating platform designed to support automated guest services and scalable hotel management.

Nebil Şenman, Co-Owner and Managing Partner at Griffin Capital Partners, said the venture combines operational expertise, technology capabilities and local market knowledge to create a platform for investors, hotel owners and brands seeking exposure to the Polish hospitality sector.

Dr. Roland Rausch, Chairman and Owner of PRIMESTAR Group, described the venture as an important step in the company’s international expansion strategy and highlighted Poland as one of Europe’s most attractive hotel markets.

Maciej Dyjas, Co-Owner and Managing Partner at Griffin Capital Partners, said the company sees hospitality as an increasingly attractive asset class for institutional investors and believes the joint venture is well positioned to benefit from long-term market trends.

Prime Griffin Hotels is currently evaluating several acquisition, development and conversion opportunities across Poland and expects to announce its first transactions in the coming months. The venture aims to become a major partner for hotel owners, developers, international brands and institutional investors active in the country’s hospitality sector.

Art-Invest Real Estate Expands Stockholm Residential Portfolio with Barkarbystaden Acquisition

Art-Invest Real Estate has acquired two newly completed residential properties in Barkarbystaden, one of the largest urban development projects in the Stockholm region, from Swedish developer Åke Sundvall.

The transaction, completed on behalf of an institutional investment fund managed by Art-Invest Real Estate, adds approximately 11,000 sqm of residential space and 169 rental apartments to the company’s portfolio. The acquisition also includes around 3,500 sqm of retail premises.

The deal represents the second transaction between Art-Invest Real Estate and Åke Sundvall and follows the acquisition of three residential buildings within the same ATLAS development in 2025. With the latest purchase, Art-Invest Real Estate now owns the entire ATLAS block, which comprises four residential buildings, an LSS care home and a Hemköp grocery store. The portfolio totals 327 residential units.

The first phase of the ATLAS project was developed through a joint venture between Åke Sundvall and OBOS, while the second phase was developed solely by Åke Sundvall.

Located adjacent to the future Barkarbystaden metro station, scheduled to open in 2027, the properties are expected to benefit from improved transport links to central Stockholm. The area is undergoing significant expansion, with the Municipality of Järfälla projecting the delivery of approximately 14,000 homes by 2032, supported by major public infrastructure investments including the metro extension and regional rail improvements.

All buildings within the development have received the Nordic Swan Ecolabel certification and were constructed to meet sustainability and energy-efficiency standards.

The acquisition follows Art-Invest Real Estate’s earlier investment in the Stockholm Quality Outlet and marks the company’s third transaction in Barkarbystaden and third investment in Scandinavia overall.

“The acquisition further strengthens Art-Invest Real Estate’s footprint in Sweden,” said Johan Öhlund Lagerdahl, Head of Stockholm at Art-Invest Real Estate. “This transaction makes sense as we are now managing the whole ATLAS block. The new assets are strategically located in front of the new subway station which will open in late 2027.”

Martin Sundvall, CEO of Åke Sundvall, said the transaction creates a unified ownership structure for the block while allowing his company to remain involved in the development of the commercial spaces.

“Since the first transaction with Art-Invest Real Estate, we have been aware of their interest in this part of the block as well. There is a clear rationale in having a single owner, and through the agreement we are now entering into, we see a long-term and ambitious property owner taking over. At the same time, we at Åke Sundvall will remain actively involved in the continued development of the commercial premises and their tenant mix,” Sundvall said.

Panattoni Hosts Opening of NATO Drone Testing Facility at Swindon Development

Panattoni hosted the opening of what has been described as NATO’s largest indoor drone testing facility in Europe at Panattoni Park Swindon in the UK.

The event, held on 12 June, was attended by UK Defence Minister Dan Jarvis and brought together more than 40 defence companies, suppliers and representatives from government and the armed forces. Demonstrations focused on drone technologies, autonomous systems and other defence-related innovations.

The facility, known as DroneTEX, forms part of the Ministry of Defence’s Uncrewed Systems Centre and follows a major lease agreement under which the Ministry of Defence has taken more than 500,000 sq ft of space at Panattoni Park Swindon.

During the event, Panattoni representatives formally handed over the facility to the Ministry of Defence. Brigadier Stu Nasse, Head of the UK Drone Coalition, described the project as an example of collaboration between the public and private sectors in delivering infrastructure for the defence industry.

Dan Jarvis said the facility would support the testing and development of technologies that are increasingly shaping modern military operations. He noted that the role of uncrewed systems continues to expand across land, air and maritime environments.

Panattoni Park Swindon is being developed on the site of the former Honda manufacturing plant. According to the developer, more than £900 million has been invested in land acquisition and infrastructure works. Upon completion, the wider development is expected to provide more than 7 million sq ft of industrial, logistics, manufacturing, technology and defence-related space.

The scheme currently includes approximately 920,000 sq ft of completed speculative warehouse accommodation available for occupation. A further 1.2 million sq ft of space is under construction and is scheduled for completion in the second quarter of 2027.

Panattoni said the development is intended to support industrial, technology and defence-related occupiers, while contributing to the continued regeneration of the former manufacturing site.

DIW Berlin Expert Supports Key Elements of Proposed German Pension Reform

Peter Haan, pension expert and Head of the Public Economics Department at the German Institute for Economic Research (DIW Berlin), has welcomed key recommendations reportedly put forward by the federal government’s pension commission, describing them as a positive step toward addressing long-term challenges facing Germany’s pension system.

According to Haan, demographic ageing continues to place increasing pressure on the country’s statutory pension scheme, requiring measures that both secure long-term financing and maintain adequate retirement incomes.

Among the proposals highlighted by the commission is the planned abolition of the pension provision for particularly long-serving contributors, commonly known as the “retirement at 63” scheme. Haan noted that previous DIW Berlin estimates suggest the measure could reduce pension system expenditure by around €10 billion annually.

He also expressed support for a gradual increase in the statutory retirement age beyond 67 years. Under the commission’s reported recommendations, any future increase would be introduced over a long period and linked to developments in life expectancy rather than implemented immediately.

At the same time, Haan stressed the importance of maintaining flexibility within the system. The proposed framework would continue to allow earlier retirement in certain cases through individual health assessments, particularly for workers in physically demanding occupations.

The commission has also reportedly recommended extending participation in the statutory pension system to additional groups, including the self-employed, senior executives, members of parliament and civil servants. Haan said the details of such reforms would be critical to their success.

Another element under discussion is the introduction of a supplementary funded pension component modelled on the Swedish system. While acknowledging that such a mechanism could strengthen retirement provision over the long term, Haan noted that it would likely require higher contributions from both employees and employers.

According to Haan, the political challenge now lies in translating the commission’s recommendations into legislation while maintaining public support. He emphasized that reforms should ensure adequate protection for lower-income workers and individuals employed in physically demanding jobs to prevent increased poverty risks in retirement.

He concluded that a broad political and social consensus could be achieved if the reforms are implemented in a way that balances financial sustainability with social fairness.

Source: DIW Berlin

Data Centres and AI Infrastructure Are Emerging as Japan’s New Institutional Asset Class

Japan’s digital infrastructure sector is undergoing a profound transformation as data centres evolve from a specialised operational asset into one of the country’s most attractive institutional investment sectors. Driven by artificial intelligence, cloud computing, enterprise digitalisation and government-backed technology initiatives, digital infrastructure is becoming an increasingly important component of Japan’s real estate and infrastructure markets.

The sector’s rapid expansion reflects broader changes taking place across the global economy. As businesses accelerate cloud adoption and artificial intelligence applications become more widespread, demand for high-performance computing capacity continues to increase. Japan, as one of Asia’s largest digital economies, is emerging as a major beneficiary of this trend.

Tokyo and Osaka remain the country’s dominant digital infrastructure hubs, accounting for the majority of operational capacity. These markets benefit from dense population centres, strong telecommunications networks, proximity to enterprise customers and established infrastructure ecosystems. Major hyperscale operators continue to expand their presence in both metropolitan areas, reinforcing long-term demand fundamentals.

Global technology companies including Microsoft, Google, Oracle and Amazon Web Services have all announced significant investments in Japan’s digital infrastructure over recent years. These commitments reflect growing demand for cloud services, AI applications and digital transformation across both public and private sectors.

Artificial intelligence is now becoming the next major growth catalyst. AI workloads require significantly more computing power than traditional cloud applications, increasing demand for specialised facilities capable of supporting high-density computing environments. This shift is transforming both facility design and infrastructure requirements, creating new opportunities for developers and investors.

However, energy availability is emerging as one of the sector’s biggest challenges. Data centres require substantial electricity supplies, and AI-related facilities can consume significantly more power than conventional data centres. Industry forecasts suggest that digital infrastructure could become one of the fastest-growing sources of electricity demand in Japan over the coming decade.

As a result, access to power is increasingly becoming a key site-selection criterion. Developers are focusing not only on land availability but also on grid capacity, transmission infrastructure and renewable energy access. Hyperscale operators are under growing pressure to meet sustainability commitments while maintaining the reliability required for mission-critical digital services.

Land constraints are creating additional challenges. In Tokyo and Osaka, high land costs, strict development requirements and limited availability of large sites are making expansion increasingly difficult. Japan’s seismic regulations, while essential for resilience, also contribute to development complexity and construction costs.

These pressures are encouraging geographic diversification. Regions such as Hokkaido and Kyushu are attracting increasing attention due to lower land costs, access to renewable energy resources and favourable climatic conditions that can improve cooling efficiency. As operators seek alternatives to the country’s largest metropolitan areas, secondary markets are emerging as important growth locations.

Perhaps the most significant development from an investment perspective is the growing institutionalisation of the sector. Data centres are increasingly being viewed alongside logistics facilities, multifamily housing and infrastructure assets as a distinct institutional investment category. Long-term leases, high occupancy levels, strong demand visibility and strategic importance have attracted growing interest from infrastructure funds, pension capital, sovereign wealth funds and real estate investors.

Regulatory changes and increasing market maturity are further supporting institutional participation. Investors are becoming more comfortable underwriting digital infrastructure assets as operating performance becomes better understood and transaction activity increases.

The long-term outlook remains highly positive. Artificial intelligence, cloud computing, digital transformation and growing data consumption are expected to support sustained demand growth. However, future expansion will depend increasingly on the industry’s ability to secure power, renewable energy capacity and suitable development sites.

For investors, developers and policymakers alike, data centres are no longer simply technology infrastructure. They are rapidly becoming one of Japan’s most important real estate and infrastructure asset classes, linking the country’s digital ambitions with its future investment landscape.

Source: CIJ.World Japan Research & Analysis Team

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