WING and Accent Hotel Management Form Strategic Alliance to Strengthen Hungarian Hotel Market

Real estate developer WING and Accent Hotel Management have entered into a long-term strategic partnership to jointly manage and operate hotel projects across Hungary. The cooperation aims to combine WING’s expertise in development and portfolio management with Accent’s operational experience and international network to deliver high-quality, efficient hotel operations and management services.

WING, one of Central Europe’s leading real estate groups, has been active in the hotel sector for more than a decade. Its portfolio includes the TRIBE Budapest Airport Hotel and the ibis Styles Budapest Airport Hotel, both located next to Liszt Ferenc International Airport, as well as the TRIBE Budapest Stadium near Népliget, the first hotel in Hungary to achieve a BREEAM In-Use “Outstanding” rating. The company has developed over 1,000 hotel rooms and continues to expand its role beyond development into hotel operations.

“Thanks to WING’s experience as both developer and owner, we can now provide integrated, transparent, and value-enhancing solutions in hotel operations,” said Ernő Takács, Deputy CEO of Hotels & Commercial Properties at WING. “Our own hotels have demonstrated the strength of our approach, and together with Accent, we can extend this professionalism to third-party projects.”

Accent Hotel Management, based in Budapest, manages over 2,000 rooms across 29 hotels in Hungary and Austria. The company operates as an independent “white label” management group and collaborates with global hotel chains under franchise agreements, including Marriott, Best Western, and Accor.

“Our cooperation with one of the largest real estate developers in the region confirms the values that have guided Accent from the start,” said Imre Csordás, Managing Director of Accent Hotel Management. “By combining our operational expertise with WING’s development experience, we aim to achieve the highest possible efficiency and quality in hotel investments.”

The partnership between the two firms builds on an established relationship. WING and Accent first collaborated on the Best Western Plus Lakeside Hotel in Székesfehérvár, which opened in 2015. WING developed and owns the property, while Accent has managed it for a decade under a franchise agreement with Best Western.

Following the success of this project, the two companies are now formalising their cooperation through a joint venture that will provide hotel management, leasing, and consulting services for future projects in Hungary and abroad. Their renewed collaboration began in August 2025 with operations at the Lakeside Hotel, with further joint initiatives expected in the coming years.

The alliance marks a significant step toward professionalising hotel operations in Hungary, offering investors and developers integrated expertise spanning property development, branding, and day-to-day management.

CEE Retail Parks Thrive as Consumer Spending Rebounds

Central and Eastern Europe’s retail sector is entering a new phase of expansion, with retail parks emerging as one of the region’s most resilient property segments. A steady recovery in household consumption, supported by slowing inflation and stronger real wages, is fuelling renewed confidence among investors and developers across the CEE, Baltic and Balkan markets.

While growth patterns differ by country, the overall momentum is clear. Bulgaria and Poland are among the fastest-growing retail markets, both recording solid year-on-year increases in sales, while Czechia and Hungary continue to show consistent spending levels. Romania and Slovakia are seeing a more gradual improvement, linked to fiscal constraints and wage pressures. In the Baltics, Lithuania leads the rebound, whereas Estonia and Latvia remain cautious. In the Western Balkans, Croatia and Montenegro benefit from tourism and deeper EU integration.

Retail parks are at the centre of this regional evolution. Analysts note that the format now accounts for more than half of new retail space under construction across the CEE-6 countries, driven by demand for accessible, affordable, and convenience-based shopping. In Poland, retail parks have grown from a marginal share of modern retail stock a decade ago to more than one-fifth today. Similar trends are evident in Czechia and Hungary, where regional cities and suburban zones are becoming prime destinations for new developments.

Developers are increasingly targeting smaller towns that lack modern retail options, often anchoring projects with discount and value-oriented brands such as Pepco, Jysk, Lidl and KIK. At the same time, many new parks integrate cafés, leisure zones and healthcare or community services, transforming them into local hubs rather than purely shopping destinations.

Investment strategies are also evolving. Regional players continue to dominate the ownership landscape, but international groups such as Saller, Immofinanz, CPI, BIG Group and Pradera are expanding their portfolios through multi-country acquisitions. Typical rental levels range between €6 and €14 per square metre per month, depending on the type of tenant and location.

“Retail parks in Central Europe have shown remarkable adaptability,” said Katarina Brydone, Managing Director at Colliers Czech Republic. “They meet shifting consumer expectations for convenience and value while offering investors a stable, defensive asset class.”

Market observers expect this resilience to persist as domestic demand strengthens and EU-supported infrastructure and green investments spread across the region. The format’s flexibility—combining retail, leisure and essential services—is likely to make retail parks an enduring feature of the CEE consumer landscape, bridging the gap between traditional shopping centres and neighbourhood commerce.

Source: Colliers

AI Drives Global Data Centre Expansion, but Czech Growth Remains Cautious

The rapid growth of artificial intelligence and cloud computing continues to fuel a global surge in data centre development. Across North America, Europe, and Asia, record levels of construction are reshaping the digital infrastructure landscape, even as developers face mounting challenges linked to energy supply, land use, and regulation.

According to international market analyses, the United States remains the largest hub for data centre construction. At the end of 2024, new facilities with a combined capacity exceeding 6,000 MW were under development—more than double the level seen the previous year. The expansion represents tens of billions of dollars in construction spending, underscoring the scale of the AI-driven digital transformation.

Europe, too, is experiencing a sharp increase in new projects. Across the region, operational capacity rose by more than a fifth in the first half of 2025, while additional large-scale investments are underway or planned. Analysts estimate that the total value of these projects could approach €170 billion as both cloud service providers and data-hosting operators race to expand in established hubs such as Frankfurt, Amsterdam, and London, as well as in emerging secondary cities.

The Asia-Pacific region, led by China, is also seeing rapid expansion. The Greater Beijing area alone now accounts for roughly a tenth of global capacity. Forecasts indicate that China’s total installed IT capacity could increase from just over 4 GW in 2025 to more than 8 GW by 2030, representing one of the fastest growth rates worldwide.

The driving force behind this global boom is the ongoing investment cycle of major cloud and technology companies. Amazon, Google, Microsoft, and Meta together account for well over half of the world’s large-scale data-centre capacity, spending hundreds of billions of dollars on facilities to power AI training and cloud services. Similar levels of ambition are evident among leading Chinese operators such as Alibaba and Tencent, which are racing to expand their own digital infrastructure.

Despite this momentum, the construction sector faces significant constraints. Shortages in power supply and outdated grid infrastructure are delaying or downsizing projects in several key markets, including the UK, Germany, and the US. Land scarcity and public opposition have also led to stricter zoning regulations in some metropolitan areas, while sustainability rules require operators to use renewable energy and recycle waste heat. Analysts warn that such constraints could push new projects to less congested regions with available land and access to electricity.

In the Czech Republic, growth is positive but considerably slower than in Western Europe. The country currently hosts several dozen commercial data centres, operated by companies such as T-Mobile, České Radiokomunikace, Seznam.cz, and TTC Teleport. Market forecasts suggest that total installed IT power capacity may rise from roughly 150 MW in 2025 to 180 MW by 2030—a moderate increase rather than a full doubling. Although Czechia’s share of the European market remains small, it continues to attract new investment due to its central location, stable economy, and growing demand for digital services.

Overall, the international trend points to sustained growth but also rising complexity. The balance between technological demand, environmental responsibility, and energy availability will determine where and how the next generation of data centres is built. For now, AI may be the driving force—but power, in the most literal sense, will remain the defining constraint.

EBRD and EU Support €45 Million Lending Facility with Bank Lviv to Boost Ukrainian Businesses

The European Bank for Reconstruction and Development (EBRD) has approved a new €45 million risk-sharing facility with Bank Lviv to support private enterprises in Ukraine, helping sustain key industries and livelihoods during wartime.

The initiative, structured as an unfunded risk-sharing agreement, will allow Bank Lviv to issue new loans to local businesses while the EBRD absorbs part of the potential credit risk. The goal is to help small and medium-sized enterprises (SMEs) maintain operations, safeguard jobs, and invest in sustainable technologies despite ongoing economic disruption.

Two Programmes under One Framework

The facility combines two complementary components. The first, amounting to €36 million, falls under the Resilience and Livelihoods Guarantee — a product designed to keep essential sectors such as agriculture, logistics, food production and retail functioning. The second, worth €9 million, is part of the EU4Business-EBRD Credit Line, which provides incentive-based financing for small businesses investing in technology upgrades, energy efficiency and alignment with European standards.

Together, these mechanisms will enable Bank Lviv to extend new credit to local companies at a time when commercial financing remains constrained. The EBRD’s share of risk is estimated at €31.5 million, with additional donor support providing first-loss protection for defaulted loans.

Sustaining Livelihoods and Inclusion

The project is designed not only to stabilise supply chains but also to make access to finance more inclusive. A portion of the credit line will be directed toward women-led enterprises and small businesses owned by or employing veterans and other war-affected groups. The facility will also fund technical assistance to help banks adapt their services to veterans’ needs and promote reintegration into the financial system.

Strengthening a Regional Bank

Bank Lviv, headquartered in western Ukraine, focuses on SME lending and operates a network of 20 branches. As of mid-2025, it manages assets of roughly €333 million and a loan book of €212 million, primarily serving smaller regional firms.

The partnership with the EBRD will allow the bank to continue lending despite heightened risks and reduced collateral availability across Ukraine’s business sector. The arrangement also aims to preserve organisational capacity and employment within client companies, which have faced extensive disruption since the start of the conflict.

Green Finance and Paris Alignment

Half of the EBRD’s contribution under the facility is classified as green financing, supporting investments that reduce emissions or improve energy efficiency. The programme has been assessed as consistent with the goals of the Paris Agreement, with counterparties committing to low-carbon transition principles and the underlying sub-loans screened for climate-related objectives.

Environmental and Social Safeguards

The EBRD confirmed that Bank Lviv meets the institution’s environmental and social risk-management standards. The bank will continue to report annually on its compliance and maintain oversight of environmental performance across its lending portfolio.

Broader Impact

The project carries a strong transition impact score under the EBRD’s evaluation system, reflecting its contribution to resilience, inclusion and competitiveness. By sharing risk and expanding credit to smaller businesses, the facility is expected to sustain production capacity, support rural and agricultural value chains, and strengthen Ukraine’s private-sector recovery.

Once operational, the programme will be among the EBRD’s key financing tools for Ukraine’s wartime economy — combining immediate liquidity support with long-term goals for green and inclusive growth.

Source: EBRD

YIT Sells Another Building to Housing Cooperative in Prague’s Ranta Barrandov IV Project

YIT has sold a residential building in its Ranta Barrandov IV development to a housing cooperative, continuing its commitment to supporting affordable and alternative housing models in Prague. The transaction covers Building C, which includes 69 apartments and will be built by YIT for the Ranta Barrandov IV Housing Cooperative. Construction began in July 2025, with completion scheduled for early 2027.

The Finnish developer has increasingly integrated the cooperative model into its projects, viewing it as a practical response to challenges in housing affordability. Under this approach, YIT builds the property while the cooperative manages the sale of individual units to its members. The model offers a solution for residents who face difficulties securing traditional mortgages, providing access to new homes under more flexible financing conditions.

“We already have experience with construction for housing cooperatives from our previous projects,” said Marek Lokaj, CEO of YIT Stavo. “Using the same model, where we build houses for the cooperative and they arrange the sale of the apartments, we have completed several buildings in our Hyacint Modřany, Suomi Hloubětín, Rivi Bachova, and Portti Kladno projects. Interested buyers who prefer cooperative housing due to financing constraints will now have an opportunity to purchase an apartment in this popular Prague district.”

Building C will consist of three four-storey sections connected by a shared base and underground parking. The 69 apartments will range in size from 35 to 115 square metres, offering layouts from one to four rooms. All homes will be built to YIT’s established standards of quality, energy efficiency, and design.

The sale adds to YIT’s broader activity in the Barrandov area, where the company is currently completing the third phase of Ranta Barrandov with 57 apartments. By the end of this year, it will also launch sales of 29 privately owned units from the fourth phase, further expanding the neighbourhood’s mix of ownership and cooperative housing options.

Warsaw Approves Nighttime Alcohol Ban Despite Opposition from Most Districts

Warsaw’s City Council has voted to restrict the sale of alcohol in shops and petrol stations at night, a move that has triggered debate among residents, businesses, and local leaders. The measure, set to take effect in two central districts, will prohibit alcohol sales between 10 p.m. and 6 a.m. and is intended to reduce late-night disturbances.

The decision passed despite strong opposition from a majority of the city’s districts. Fourteen out of eighteen district councils had argued that the plan lacked evidence of necessity and could damage small businesses. Public consultations showed similar resistance, with many residents questioning whether the measure would address the problems it seeks to solve.

Warsaw joins a growing number of Polish cities that have tested local bans on late-night alcohol sales. Some have claimed success in reducing noise and disorder, while others have reversed the restrictions after finding that drinkers simply shifted to different hours or locations. In Kraków, for example, police noted fewer nighttime incidents but more offenses during the day.

City officials say the new rules are part of a broader effort to improve public safety and reduce alcohol-related harm. However, critics argue that Warsaw, which consistently ranks among Europe’s safest capitals, does not face the same scale of late-night problems as other cities. They point out that police and city-guard interventions have declined steadily in recent years, suggesting that existing laws are already effective.

Business associations warn that the ban could hit local shops hardest, particularly small corner stores that depend heavily on evening alcohol sales. Warsaw currently collects tens of millions of złoty each year from alcohol licence fees, and opponents say the measure could reduce that income while doing little to curb consumption.

Convenience-store chain Żabka, one of the largest alcohol retailers in Poland, said its franchisees would follow any new regulations. The company rejected suggestions that it had tried to influence the city’s decision and emphasised that it supports fair competition and lawful business practices.

The national government is also considering new restrictions. The Ministry of Health has proposed a nationwide framework that would ban alcohol sales at petrol stations and tighten rules on promotions and online sales beginning in 2026. Supporters of the proposal argue that it will encourage healthier habits, while opponents view it as another step toward over-regulation.

As the capital prepares for the partial rollout of the nighttime ban, the debate reflects a wider question facing Poland’s cities: whether restricting consumer freedoms is an effective way to promote public health—or simply a costly gesture that shifts, rather than solves, the problem.

Source: WEI

Saudi Arabia Moves to Modernise Arbitration Law in Bid to Attract Global Investors

Saudi Arabia is preparing a major overhaul of its arbitration system as part of efforts to strengthen the country’s legal environment and appeal to international investors. A draft law released for public consultation outlines a series of reforms designed to simplify dispute resolution and bring local practice closer to international standards.

The proposed legislation, now open for comment until late October, will replace the framework introduced in 2012. It reflects Riyadh’s ambition to turn Saudi Arabia into a regional hub for commercial arbitration, a move that aligns with the broader goals of the Kingdom’s Vision 2030 economic programme.

Streamlined Procedures and Digital Flexibility

Under the draft reforms, arbitration proceedings would become more adaptable to modern business needs. Tribunals would have the ability to issue partial or interim decisions during a case, and awards could be signed electronically or even from outside Saudi Arabia — a notable shift from earlier practice that often tied procedural steps to location and formality.

The proposed law also gives tribunals clearer authority to order urgent measures such as preserving assets or evidence, a feature that mirrors international arbitration rules and could help prevent disputes from escalating while proceedings are still under way.

Broader Pool of Arbitrators

In another break from tradition, arbitrators would no longer be required to hold a law or Shari’ah degree, and parties could appoint professionals of any nationality. Observers say this would significantly expand the pool of eligible arbitrators and enhance perceptions of neutrality, a factor seen as critical to attracting cross-border commercial cases.

The draft also formalises the principle that arbitrators can decide their own jurisdiction, enabling them to determine whether they have the authority to hear a case before involving the courts. This approach is widely recognised in other jurisdictions as a hallmark of efficient arbitration.

Greater Use of Virtual and Electronic Processes

Reflecting post-pandemic realities, the reforms allow hearings to take place virtually unless the parties agree otherwise. Arbitration agreements concluded through digital communication would be recognised as valid, while notices sent electronically could be treated as properly delivered. These changes are intended to make the system more accessible to international users and to reduce delays linked to administrative procedures.

Implications for Businesses

Legal practitioners say the new framework could enhance Saudi Arabia’s competitiveness as a venue for resolving commercial disputes, particularly in the energy, infrastructure, and technology sectors where cross-border investment is expanding rapidly. If implemented as proposed, the law would give parties greater autonomy in structuring arbitration proceedings and improve the enforceability of awards both domestically and abroad.

The public consultation on the draft closes this month, after which the final version will be reviewed and published in the country’s official gazette. The law would come into force one month later. Analysts view the initiative as part of a wider trend across the Gulf, where states are reforming arbitration systems to create predictable, investor-friendly environments that align with global commercial practice.

Source: CMS

iLogistic Expands Operations to 15,500 Square Metres at CTPark Budapest West

iLogistic, a fulfilment services provider for the e-commerce sector, has expanded its operations at CTPark Budapest West in Biatorbágy by leasing an additional 5,000 square metres. The company now occupies a total of 15,500 square metres within the park, marking continued growth since it began operations there in 2018 with just 500 square metres.

The expansion follows sustained demand for e-commerce logistics services and rising order volumes from online retailers. iLogistic, which became part of GLS but continues to operate under its original brand, offers a full range of fulfilment solutions including warehousing, order management, and delivery.

“We have come a long way over the past seven years: from our first 500-square-metre warehouse, we have now grown to 15,500 square metres together with CTP,” said Bálint Csereklyei, Chief Operating Officer of iLogistic. “This reflects not only our own development but also the rapid expansion of the e-commerce sector. Becoming part of GLS has given us a solid base and new opportunities, but we also remain committed to our identity as a universal service provider – this is how our clients know and trust us.”

CTP Hungary noted that iLogistic’s growth illustrates how the park’s flexible infrastructure supports long-term tenant expansion. “Few things demonstrate continuous growth better than a thirty-fold expansion,” said András Kiss, Regional Business Development Lead at CTP Hungary. “We believe that developments like this not only support our tenants’ business success but also create an environment where growth is the natural next step.”

The new facility, located in the park’s BIA3 hall, has been renovated to meet BREEAM “Very Good” standards. It features increased ceiling height, a solar panel system, and an intelligent building management system (BMS) to enhance energy efficiency. The site also includes office space designed to improve employee comfort. Staff have access to shared amenities such as the Clubhaus community space, which is used regularly for meetings and daily activities.

The latest expansion strengthens iLogistic’s position as a logistics partner within Hungary’s growing e-commerce market, while supporting its focus on sustainable operations and workplace quality.

INTREAL Survey Finds Institutional Investors Turning Toward Stability, Sustainability, and Infrastructure

Institutional investors across Europe are reaffirming their commitment to real assets, with a growing focus on infrastructure alongside continued demand for real estate, according to the latest survey by INTREAL International Real Estate Kapitalverwaltungsgesellschaft mbH. The 2025 study, which gathered responses from 71 institutions including banks, insurers, pension funds, foundations and family offices, shows that stability and sustainability have become the defining priorities behind investment strategies.

Nearly all respondents—96 percent—said they are already invested in real asset funds or plan to do so in 2026. The majority, 48 percent, allocate to both real estate and infrastructure, while 45 percent remain focused exclusively on real estate and three percent on infrastructure. Only four percent have no exposure to real assets. Within the property market, investors showed the strongest preference for residential at 57 percent and logistics at 54 percent, followed by grocery-anchored retail at 36 percent. Notably, social and healthcare real estate, at 19 percent, has overtaken office properties, which drew only seven percent, indicating a shift toward more resilient, socially oriented investments.

In geographical terms, Germany and the wider European market dominate investor interest, with 67 percent and 63 percent respectively identifying them as preferred regions, while enthusiasm for the United States has waned. ESG considerations continue to play a decisive role, with more than 91 percent of respondents preferring funds classified under Article 8 of the EU Sustainable Finance Disclosure Regulation. By contrast, only one in five would consider Article 6 or Article 9 funds. Risk appetite remains muted, as more than half of investors plan to concentrate on core strategies, and another third favour core-plus investments. That conservative stance is reflected in return expectations: 40 percent expect yields between 3.5 and 4 percent, while 26 percent target up to 4.5 percent and 19 percent aim for a range of 4.6 to 5 percent.

The survey reveals that infrastructure is emerging as a key area of growth. Over half of the respondents, 52 percent, plan to increase allocations to the sector in 2026, while the rest will maintain their current exposure. None intend to reduce it. Markus Schmidt, Head of Business Development Infrastructure at INTREAL, said the trend marks a logical next step in the evolution of institutional portfolios. “Now that real estate has become a permanent fixture in the portfolios of institutional investors, it is evident that the infrastructure asset class is well on its way to gain similar significance,” he said. “This is particularly true for those investors who combine moderate return expectations with a keen emphasis on safety and who wish to exploit additional diversification options.”

Schmidt noted that life insurers, pension funds, family offices and foundations are driving much of this momentum, given their long-term investment horizons and need for predictable income streams. “What makes infrastructure investments so attractive for this target group are stable cash flows of generally long-term predictability,” he explained.

Within the infrastructure segment, renewable energy projects are by far the most attractive, cited by two-thirds of respondents, followed by communications infrastructure at 59 percent. Europe remains the top target region for these investments, with 94 percent of respondents prioritising it and 45 percent specifically naming Germany. Preferences for fund domiciles are evenly divided, with 31 percent favouring German structures and 28 percent preferring Luxembourg, while 38 percent see both as equally suitable.

INTREAL Managing Director Malte Priester described the broadening of institutional real asset portfolios to include infrastructure as a natural progression. “The growing expansion of institutional real asset fund investments to include the infrastructure asset class is part of a plausible evolution after real estate funds became established and in the wake of the segment’s increasing differentiation over the past two decades,” he said. He added that INTREAL’s decision to broaden its licensing and service capabilities in both Germany and Luxembourg supports this shift. “We are aware of significant growth upside here in the years ahead, not least because of the massive capex requirements in Germany’s infrastructure sector and the manifest political resolve to create corresponding investment stimuli,” he said.

The 2025 INTREAL survey highlights a clear directional change in institutional investment: the pursuit of stability and sustainability now outweighs the chase for yield. Infrastructure, supported by energy transition and digital connectivity trends, is fast becoming the next cornerstone of Europe’s real asset landscape.

Photo: Malte Priester, Managing Director at INTREAL

FCA Identifies Shortcomings in Financial Crime Controls at Corporate Finance Firms

The Financial Conduct Authority (FCA) has published a new press release highlighting worrying gaps in how many UK corporate finance firms manage financial crime risks. According to the regulator, a recent survey found that two-thirds of corporate finance firms that do not submit formal financial-crime return data may be falling short of expectations under the UK’s anti-money-laundering (AML) regime.

The survey covered authorised corporate finance firms that connect companies to capital. Out of 303 firms contacted, 270 responded. Among those respondents: 11 % reported they lack a documented business-wide risk assessment—a requirement under current AML regulations. Ten per cent said they did not maintain documented records of customer-due-diligence processes. Additionally, 29 % of the principal firms indicated they had not carried out financial-crime risk assessments for their appointed representatives (ARs), and 6 % said they had not monitored AR compliance or conducted onsite audits.

Despite these shortcomings, the FCA found positive practices in many firms. Some 97 % of respondents said they report financial-crime issues to senior management on a regular basis. Others described formal risk-assessment frameworks, periodic reviews, management-information dashboards and auditing of controls—all examples the FCA cited as stronger approaches.

Andrea Bowe, Director of the FCA’s specialist directorate, commented that “corporate finance firms play a vital role in the UK’s capital markets. Their exposure to money-laundering risks means it is essential that they have strong, proactive controls in place.” She added that the FCA will write to firms with weaker frameworks, specifying the improvements expected, and follow up in due course.

This release complements earlier FCA guidance published in October 2025 that offers examples of good and poor practice for such firms. That guidance emphasises the need for documented risk assessment, monitoring of ARs, ongoing due diligence and internal oversight. Many firms were found to have weaknesses in these areas.

For corporate finance firms, the FCA’s message is clear: authorisation alone is not sufficient. Firms must demonstrate that they have effective control systems in place, that these systems cover all parties—including ARs—and that they keep these systems actively reviewed and updated. Failure to do so may increasingly attract regulatory scrutiny.

Source: CMS

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