Catella Investment Management acquires residential asset in Vienna-Floridsdorf

Catella Investment Management has acquired a residential property in the Floridsdorf district of Vienna on behalf of a separate account. The building comprises 127 rental apartments with a total lettable area of 7,407 sqm and is fully leased.

The scheme, completed in 2016, includes one- to four-room units with an average size of around 58 sqm. Apartments are fitted with standard residential specifications including kitchens, triple-glazed windows and outdoor space in the form of balconies, loggias or terraces. Ground-floor units include private garden areas.

The property is arranged around two internal courtyards and provides 66 car parking spaces, three motorcycle spaces and 266 bicycle spaces. Additional facilities include storage areas and a shared laundry room.

Michael Keune, Managing Director of Catella Investment Management, said: “Vienna has been one of Europe’s fastest-growing cities for years and is characterised by high economic stability and rising demand for housing. The Viennese residential market thus offers institutional investors attractive and stable long-term investment opportunities. With this acquisition in Floridsdorf, we are expanding our presence in a sub-market that benefits from positive demographic trends and good infrastructure.”

Stephanie Vermeersch, Head of Austria at Catella Investment Management, added: “Floridsdorf is one of Vienna’s districts with stable demographic growth and sustained high demand for modern housing. With its contemporary living concept, private outdoor spaces and high quality of life thanks to its quiet location on a quiet, low-traffic side street, the property aligns well with current market conditions and represents a solid long-term addition to our client’s portfolio.”

The asset is located in Vienna’s 21st district, Floridsdorf, with access to public transport including the Jedlersdorf S-Bahn station and nearby bus and tram routes. The surrounding area includes local retail, services and green spaces.

Catella Investment Management has operated an office in Vienna since 2022 and manages more than €500 million in assets in the city, with approximately €600 million across Austria and around 20 properties.

Higher UOKiK penalties contribute to increased interest in antitrust audits

Rising penalties for breaches of competition and consumer protection law in Poland are contributing to increased interest in antitrust compliance audits, according to legal practitioners. Both companies and managers face financial exposure, which is influencing how compliance is addressed at management level.

Law firm GESSEL reports a rise in client inquiries related to competition law audits, as businesses review risks linked to distribution models, tender participation and contacts with competitors. The trend reflects ongoing enforcement activity by UOKiK.

Under Polish and EU competition law, companies may face fines of up to 10 percent of annual turnover for anti-competitive agreements or abuse of a dominant position. Managers can also be held personally liable, with penalties of up to PLN 2 million for intentional infringements.

Breaches of consumer protection rules may also result in financial penalties. In such cases, audits typically include pricing policies, promotional practices and communication with customers. UOKiK uses data analysis tools to monitor market practices.

According to publicly available UOKiK data, penalties imposed on companies for competition-restricting practices exceeded PLN 650 million in 2024, while fines on managers were above PLN 4 million. Preliminary figures for 2025 indicate that total penalties related to competition and consumer protection cases reached approximately PLN 1.15 billion, including more than PLN 580 million linked to competition infringements.

“From the perspective of the board, an audit can be a kind of ‘insurance policy’. It allows you to identify risks before they become the subject of proceedings of an antitrust authority. In practice, this means real protection for both the company and the managers,” said Natalia Leśna, Senior Associate at GESSEL.

Recent enforcement cases include fines exceeding PLN 400 million in matters involving price-setting and market allocation in distribution networks, including the automotive sector. Similar findings have been made in cases involving agricultural equipment distribution. In the area of consumer protection, penalties exceeding PLN 100 million have been imposed for misleading commercial practices.

Legal advisors note that compliance activities in some companies are limited to contract reviews. A broader antitrust audit may also include an assessment of business practices, internal processes and market behaviour.

“The classic review of contracts is based on the verification of documents and does not always fully end with a full picture of the risks and possible areas that may generate risks related to the area of interest of the antitrust authority. Antitrust audit is more comprehensive – we analyze not only the provisions in contracts, but also the sales procedures, advertising message, distribution models or the practice of participating in tenders. We analyze the risks associated with the use of exclusivity clauses or the use of contractual advantage. With extensive knowledge of ‘from both sides of the desk’ we can detect in advance areas that can result in violation of the regulations. It is always cheaper and more effective to prevent this type of tort than to react later to the interventional action of the body,” Leśna added.

Common risk areas identified in audits include resale price maintenance, tender procedures and contacts with competitors, including the exchange of sensitive information. Authorities in Europe are also examining labour market practices such as non-solicitation agreements between employers.

Consumer protection risks are also being reviewed, particularly in digital sales channels. This includes how prices, promotions and subscription models are presented to customers.

A structured audit may also be relevant during proceedings. Under UOKiK’s leniency programme, companies involved in anti-competitive conduct may receive reduced penalties in exchange for cooperation.

“If the entrepreneur can show that he has implemented real compliance mechanisms and reacted to signals about violations, it may be important in the course of the proceedings,” said Monika Bychowska, Senior Associate at GESSEL. “Antitrust authorities analyze the degree of diligence of the management board and preventive actions taken, so it is worth taking care of such actions before the control or other actions of the regulator become a fact.”

Audits are also used in investment processes, where compliance with competition law is one of the elements considered in company assessments.

“For investors and supervisory boards, antitrust risk is one of the key elements of the company’s assessment today. Violations of competition law can mean not only multi-million dollar penalties, but also civil disputes, loss of reputation and a decrease in the value of the company,” said Karolina Olszewska, Senior Associate at GESSEL.

As enforcement activity continues, antitrust audits are increasingly used as part of corporate risk management.

Slovakia’s economic sentiment weakens as consumer confidence hits multi-year low

Economic sentiment in Slovakia declined again in March 2026, reflecting weaker expectations among both businesses and households, according to data published by the Statistical Office of the Slovak Republic.

The Economic Sentiment Indicator (ESI) fell by 2.5 points month-on-month to 95, marking its lowest level in five months and remaining below the long-term average. The deterioration was broad-based, affecting most sectors, with the exception of construction.

Sentiment weakened most notably in trade and services, while industrial confidence also edged lower. Consumer confidence recorded the sharpest decline, reaching its lowest level in three years. Households expressed more negative expectations regarding the overall economic situation and unemployment, although assessments of personal financial conditions showed slight improvement.

In industry, the confidence indicator declined marginally, influenced by rising inventories of finished goods, particularly in transport equipment manufacturing. At the same time, assessments of order books and expected production showed some improvement.

In services, confidence fell more sharply, driven by weaker demand both in recent months and in expectations. The largest declines were reported in sectors such as arts, entertainment and recreation, while real estate-related activities showed some improvement in business conditions.

Retail sentiment also weakened, with businesses reporting lower confidence in both current and expected activity. More negative assessments were recorded among companies involved in food retail and automotive-related sales, although stock levels were viewed more positively.

Construction was the only sector to report an improvement in sentiment. The confidence indicator rose slightly, supported by stronger assessments of order books and more positive expectations for employment, particularly in civil engineering.

Overall, the data points to a continued softening of economic sentiment in Slovakia, with both businesses and consumers signalling caution amid ongoing economic uncertainty.

Harden Construction begins vertical works on first Czech project in Most

Harden Construction has reached an early construction milestone on its first project in the Czech Republic, with the erection of the first column at a site in the Joseph industrial zone near Most.

The development involves a new industrial hall that will be used as a distribution centre for an international toy manufacturer. Once completed, the facility is expected to provide approximately 52,000 sqm of warehouse and logistics space.

The installation of the first column marks the transition from initial groundwork to above-ground construction. The project began during the winter period, with weather conditions affecting early-stage earthworks. According to the contractor, coordination between project teams allowed works to continue despite these challenges.

“Erecting the first column is a powerful and very important moment for us. It is not only a technical milestone but also confirmation that we were able to successfully launch the project even under challenging conditions. This is our first project in the Czech Republic, which is why we place even greater emphasis on quality, safety, and the smooth progress of construction,” said Marek Čepela, Executive Director of Harden Construction CZ.

The scheme includes deep foundation works to support the prefabricated structure. Construction is being carried out with the use of digital tools, including bulldozers equipped with 3D control systems that operate based on terrain models to improve accuracy and efficiency.

“This technology enables faster progress, reduced material consumption, and greater precision, but it also places high demands on the team’s coordination. Thus, in addition to heavy machinery, digital planning and coordination of individual steps play an important role on the construction site. It is precisely the combination of modern technology and an experienced team that has made it possible to move the project forward despite the complicated start of the winter season,” added Čepela.

The project is targeting BREEAM New Construction certification at the “Excellent” level, reflecting a focus on environmental standards. Further structural works are scheduled in the coming months as the building progresses.

Germany inflation rises in March, driven by energy prices

Consumer prices in Germany increased more quickly in March, according to preliminary figures from Destatis, signalling a shift after several months of more moderate inflation.

Annual inflation reached 2.7 percent, up from 1.9 percent in February, while prices rose by 1.1 percent compared with the previous month. Using the EU’s harmonised measure, inflation was estimated at 2.8 percent, reflecting a similar upward trend.

The increase was largely linked to higher energy costs, which rose sharply compared with the same period last year, reversing earlier declines. Food prices continued to grow at a slower pace, while services remained one of the more persistent sources of price pressure. Excluding energy and food, underlying inflation held steady, indicating that broader price dynamics have not yet accelerated significantly.

The latest data comes against a backdrop of renewed volatility in global energy markets, with supply disruptions affecting key transport routes such as the Strait of Hormuz. These developments have contributed to rising fuel costs, which are beginning to feed into the wider economy.

Economists expect the impact to continue in the coming months. Analysts at ZEW Mannheim noted that price growth in services had already remained elevated prior to the recent energy developments, suggesting inflation could move higher in the near term.

At Commerzbank, economists pointed to the risk that higher energy costs will gradually be reflected across supply chains, increasing production expenses for businesses. Researchers at Pantheon Macroeconomics also highlighted potential delayed effects on food prices, linked to disruptions in fertiliser supply and transport.

Germany’s recent inflation trends follow a period of sharp price increases after the Russian invasion of Ukraine, when energy costs pushed inflation close to record levels. Although inflation eased significantly over the past two years, the latest data suggests that external shocks can still influence price stability.

As Europe’s largest economy, Germany’s inflation outlook remains closely watched across the region, particularly by neighbouring markets that are closely linked through trade and industrial supply chains.

Cancom leases 4,800 sqm in Garbe Industrial project in Norderstedt

IT service provider Cancom has leased approximately 4,800 sqm of space in a newly developed Garbe Industrial property in Norderstedt, near Hamburg. The facility will be used as a logistics and service centre, referred to by the company as a Service Factory.

The leased area includes around 4,100 sqm of hall space, 400 sqm of office and social areas, and close to 300 sqm of warehouse space. The lease term is 15 years.

The site will support a range of services, including procurement, storage, processing and delivery of hardware, as well as software installation and refurbishment of returned equipment. Cancom expects to begin operations in the third quarter of 2026 and plans to create up to 100 jobs across logistics, services and technical roles.

“With Cancom, we are welcoming the first tenant to our new building,” said Julia Schoer, Regional Manager North at Garbe Industrial. “We developed and constructed the property with a view to the future because we are convinced of the attractiveness of the location. The fast leasing success proves us right. And it shows that modern logistics properties are evolving into multifunctional properties that can be used for much more than storage, handling and distribution.”

Cancom, headquartered in Munich, is expanding its logistics network in Germany through this lease. “With this lease, we are not only expanding our network of locations but also establishing a state-of-the-art Service Factory in northern Germany for the first time. We are planning to create up to 100 new jobs in Norderstedt in the areas of logistics, services, project management and service technology,” said Markus Konhäuser, Service Factory Director at Cancom.

Local authorities also highlighted the significance of the transaction. “This contract and the resulting relocation show how attractive Norderstedt is as a business location,” said Marc-Mario Bertermann, Managing Director of the Norderstedt Development Corporation.

The property is located in the Schützenwall industrial area on a 29,500 sqm site and has been developed to meet sustainability standards, including connection to district heating and certification under the German Sustainable Building Council’s Gold standard.

BlueRock Group AG extends leases at Duisburg-Ruhrort complex

fletcher@cijeurope.com
31 March 2026
Company News, Deals, Hospitality, Office

BlueRock Group AG has agreed two long-term lease extensions covering approximately 7,600 sqm of space within its office and healthcare complex in Duisburg.

The property, located in the Ruhrort district, includes the Medical Centre Ruhrort at Ruhrorter Strasse 195 and the Business Centre Ruhrort at Dr Hammacher Strasse 49.

At the Medical Centre Ruhrort, the Public Health Department of the City of Duisburg has extended its lease for around 4,000 sqm, which it has occupied since 2011. The building, completed in 2007, also accommodates a private clinic, a diabetology centre, an orthopaedics practice and a wound care facility.

At the Business Centre Ruhrort, HGK Shipping GmbH has renewed its leases for approximately 3,600 sqm. The company has been based in the building since 2017. The property was completed in 2004.

BlueRock acquired the complex in 2016. The asset comprises around 12,350 sqm of lettable space and is currently 93 percent occupied. It is located within walking distance of Port of Duisburg and is served by local public transport connections.

HEUSSEN Rechtsanwaltsgesellschaft advised on the legal aspects of the lease extensions, while Völkel Real Estate continues to act as property manager.

European Commission urges Slovakia to end dual diesel pricing as government defends policy

The European Commission has called on Slovakia to withdraw measures introducing different diesel prices, warning that the approach may breach EU law. The Slovak government has indicated it may maintain or extend the policy and has criticised the Commission’s position.

The measures were introduced following disruptions to oil supplies linked to the Druzhba pipeline, which halted deliveries to Slovakia and Hungary in January. In response, Bratislava declared a state of oil emergency and imposed temporary restrictions on diesel sales, including higher prices for vehicles with foreign licence plates.

According to the European Commission, the pricing structure is discriminatory and incompatible with EU rules. It has warned that infringement proceedings could be launched if the measures are not withdrawn.

Slovak Prime Minister Robert Fico criticised the Commission’s intervention, stating: “I consider the letter to be absolutely inappropriate, incorrect to the Slovak Republic.” He added that any legal action could result in financial penalties imposed by an EU court. Fico also suggested the government may extend the current measures, arguing they are intended to protect domestic consumers from rising fuel costs.

The policy was introduced after supply disruptions along the Druzhba pipeline, which Slovakia and Hungary say have been affected by developments linked to the war in Ukraine. Kyiv has indicated that damage to infrastructure caused by Russian attacks has affected the pipeline’s operation.

Slovakia’s Minister of Economy Denisa Saková said the Bratislava refinery Slovnaft had drawn on state oil reserves following the disruption and has begun returning the volumes used. The government has argued that this justifies its approach to managing fuel distribution.

Fico also criticised the European Commission for what he described as insufficient engagement in restoring oil flows via Ukraine and commented on relations between EU leadership and Volodymyr Zelensky. “The European Commission has decided to put the interests of Ukraine, a non-member country, over the interests of a member country, the Slovak Republic,” he said.

Slovakia and Hungary have maintained energy imports from Russia during the ongoing conflict in Ukraine, while other countries in the region, including Czech Republic, have reduced or eliminated dependence on Russian oil.

The dispute comes amid broader volatility in global energy markets following the escalation of conflict in the Middle East in late February. Oil prices have increased, although fuel price growth in Slovakia has been more moderate compared with some other EU countries.

Source: CTK

Hungary’s youth surge challenges long-standing political order ahead of April vote

Hungary’s upcoming parliamentary election is increasingly being shaped by a clear divide between generations, as younger voters show growing support for a political alternative to the country’s long-serving leadership, while older citizens largely remain aligned with the current government.

In the weeks leading up to the 12 April vote, grassroots campaigning by younger supporters has become more visible across smaller towns and regional centres. Many in their twenties, having grown up entirely under the same political leadership, are now actively engaging in efforts to encourage change, reflecting a broader shift in political participation among younger Hungarians.

At the centre of this momentum is Péter Magyar, a former insider of the governing political structure who has repositioned himself as a challenger. His political platform has gained rapid traction, particularly among voters who had previously remained disengaged from public life. Surveys conducted in recent months suggest that younger demographics are significantly more inclined to support his movement, while backing for the ruling party remains strongest among pensioners and in rural areas.

Analysts point to a deeper structural transition underway. A generation that once defined Hungary’s political direction following the end of communism is now being confronted by a younger cohort shaped by different priorities, including economic prospects, transparency in governance and the country’s broader international alignment. This shift is not only ideological but also reflects changing expectations about the role of institutions and public accountability.

Recent political developments have further intensified engagement, particularly among younger voters. A high-profile controversy in 2024 involving a presidential pardon triggered widespread public reaction and is widely seen as a catalyst for renewed interest in political participation. In its aftermath, new political forces have emerged, reshaping the electoral landscape and narrowing what was once a dominant lead for the governing party.

Despite these changes, the outcome of the election remains uncertain. The incumbent leadership continues to benefit from established support networks, particularly outside major cities, as well as policies that resonate with older voters, including pension measures and family-related incentives. The campaign has also increasingly emphasised stability and continuity, framing the election as a choice between experience and risk.

The contest has grown more polarised in recent weeks, with disputes over institutional fairness, media conditions and campaign practices adding to an already tense political environment. While opposition forces appear to have gained momentum, Hungary’s electoral dynamics suggest that turnout and regional voting patterns will play a decisive role.

As the country approaches election day, the balance between continuity and change may ultimately rest on whether the emerging political engagement among younger voters translates into a sustained shift at the ballot box.

GIOŚ relocates headquarters to HOP office building in Warsaw

Chief Inspectorate for Environmental Protection (GIOŚ) has leased 4,600 sqm of office space in the HOP building at 132/134 Chmielna Street in Warsaw. The institution has been operating from the new location since January 2026 under a long-term lease agreement.

GIOŚ is a public administration body responsible for overseeing compliance with environmental regulations in Poland. Its responsibilities include inspections, environmental monitoring across air, water, soil and noise, as well as oversight of waste management and cooperation with other public services.

The HOP office building, owned by Syrena Real Estate, has undergone refurbishment in recent years with backing from PineBridge Benson Elliot. The upgrade included changes to the building’s façade and the creation of a public square of approximately 600 sqm in front of the property. Interior updates include co-working space, conference facilities totalling around 1,000 sqm, bicycle infrastructure and electric vehicle charging points in the underground car park.

The building provides more than 14,000 sqm of leasable space across six above-ground floors and one underground level. It holds BREEAM In-Use Excellent and WELL Health and Safety certifications, as well as a “Barrier-Free Facility” designation.

Other tenants at HOP include YOPE, Aplikacje Krytyczne, BNP Paribas Bank Polska, ERM Polska, Evergreen and Żabka. Syrena Real Estate also has its headquarters in the building. A LUPO Pasta Fresca restaurant operates on the ground floor.

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