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Link Developments launches mixed-use City Walk Abuja project

Link Developments has announced the launch of City Walk Abuja, a privately funded mixed-use development planned within a government-designated Free Trade Zone in Abuja, Nigeria.

The project will be located on the corridor connecting Abuja’s Central Business District with Nnamdi Azikiwe International Airport. According to the developer, the scheme is intended to combine commercial, residential, hospitality, leisure, cultural and civic uses within a single master-planned development.

Covering more than 200 hectares, City Walk Abuja is planned as a mixed-use district designed to support business activity, residential development and public spaces. Link Developments said the Free Trade Zone location is intended to attract domestic and international investment by offering businesses a base for operations in West Africa.

The masterplan includes proposals for a 450-metre tower, which the developer says would become Africa’s tallest building if completed, as well as a multi-purpose arena with a planned capacity of more than 16,000 seats. The development will also incorporate landscaped public areas, biodiversity corridors, water management systems and pedestrian-friendly streets.

The masterplan was designed by architecture and masterplanning firm Benoy, which has worked on mixed-use developments internationally. According to the company, the design places emphasis on sustainability, public spaces and climate-responsive planning.

Link Developments has appointed Broadgate Developments Group Ltd as development and construction management adviser for the project. Broadgate will provide development management, technical governance and programme oversight throughout the project’s delivery.

Broadgate’s management team has previously been involved in projects including Jabi Lake Mall and Heritage Place in Nigeria, One Airport Square in Ghana and the Douala Airport Business Park in Cameroon.

Peter Young, Chief Executive Officer of Broadgate Developments Group Ltd, said the company will work with Link Developments, Benoy and the wider project team on the delivery of the scheme.

Alex Arkaah, Chief Development Officer and Group Technical Director of Broadgate Developments Group Ltd, said the project provides an opportunity to combine international design, engineering and development expertise in a long-term urban development.

According to Link Developments, City Walk Abuja is intended to support investment, economic diversification and urban development as Abuja continues to expand. The project timeline and construction schedule have not yet been announced.

Cresco Real Estate expands focus to redevelopment of older office buildings

Cresco Real Estate plans to broaden its investment strategy in the Czech Republic by pursuing redevelopment opportunities in older office and commercial buildings alongside its existing focus on brownfield developments.

The developer said it is assessing opportunities to convert older properties that no longer meet current market requirements into residential projects, reflecting continued demand for housing and growing interest in the reuse of existing urban buildings.

“Brownfield developments remain an important part of our strategy, but we also see increasing potential in existing buildings. Many were designed for different market conditions than those that exist today. In some cases, converting them into residential projects may provide an effective alternative to new construction,” said Aleš Svatoň, CEO of Cresco Real Estate Czech Republic.

According to the company, it is currently evaluating several redevelopment opportunities and is in discussions with owners of additional properties in the wider Prague city centre.

Changing requirements for commercial buildings

As occupiers increasingly favour modern office buildings with higher environmental standards, improved technology and better workplace environments, owners of older office properties are faced with decisions on whether to modernise, repurpose or redevelop their assets.

Cresco said it is focusing on buildings located in established urban areas with good transport connections and existing public infrastructure, where a change of use could create additional residential capacity.

The company said each potential project is assessed individually, taking into account the building’s technical condition, layout, location, economic viability and suitability for residential conversion.

According to Cresco, redevelopment projects can benefit from existing infrastructure and public amenities, which may reduce preparation times compared with projects on previously undeveloped sites.

Growing interest in building reuse

The company said its strategy reflects a broader trend towards adaptive reuse and the redevelopment of existing buildings. Reusing structures where feasible can reduce demolition, make more efficient use of already developed land and contribute to more sustainable urban development.

Building conversions have become an increasingly common approach in European cities as developers seek to extend the useful life of existing properties while responding to changing market demand.

Previous redevelopment projects

Cresco Real Estate has previously completed redevelopment projects in Prague, including the first phase of SO-HO Rezidence in Holešovice, where one of the original buildings from the former Tesla industrial complex was renovated and converted into residential loft apartments while preserving elements of its industrial architecture.

The developer has also modernised the Metropolitan office building on U Uranie Street in Prague 7.

According to Cresco, redevelopment of existing buildings is intended to complement, rather than replace, its brownfield development activities as both approaches contribute to expanding housing supply and the regeneration of urban areas.

Housing affordability remains a key challenge for many Poles

Rising housing prices, mortgage costs and lending requirements continue to limit access to home ownership for many households in Poland. According to a survey commissioned by PFR Nieruchomości in May 2026, 55% of respondents said they would not currently be able to purchase a home that meets their needs, even with mortgage financing, highlighting ongoing affordability challenges in the residential market.

High prices remain the main obstacle

Survey respondents identified high property prices as the biggest barrier to home ownership (61%), followed by high mortgage costs (32%) and insufficient creditworthiness (27%). The findings suggest that many households remain priced out of the market due to financial constraints rather than a preference for renting.

Long-term data also illustrates the scale of the affordability challenge. According to Eurostat’s House Price Index, residential property prices in Poland increased by approximately 106% between 2015 and 2024, compared with an EU average increase of around 53%. Poland has been among the fastest-growing housing markets in the European Union over the past decade.

Prices remain high despite slower growth

Data published by the National Bank of Poland (NBP) for the first quarter of 2026 shows that housing prices remain elevated in the country’s largest cities. The average transaction price for a new apartment reached PLN 16,475 per sqm in Warsaw and PLN 15,384 per sqm in Kraków. Among Poland’s major cities, Łódź recorded the lowest average price at PLN 9,758 per sqm, although affordability remains a challenge for many first-time buyers.

While annual price growth has moderated compared with previous years, economists at Credit Agricole expect housing prices in Poland’s largest cities to increase by up to approximately 5% during 2026. As a result, affordability pressures are expected to remain despite a more stable market environment.

Rental housing gaining importance

PFR Nieruchomości argues that professionally managed rental housing is becoming an increasingly important option for households unable or unwilling to purchase a home.

“High housing prices, mortgage costs and lending requirements mean that home ownership is being delayed or remains unattainable for a growing number of Poles. Professionally managed rental housing can provide an alternative through long-term contracts, transparent conditions and costs that are better aligned with tenants’ financial capabilities,” said Grzegorz Tomaszewski, President of the Management Board of PFR Nieruchomości.

The company recently launched its new rental housing brand, m®, which focuses on professionally managed residential leasing.

Housing preferences continue to evolve

Growing affordability pressures are contributing to gradual changes in Poland’s housing market. While home ownership remains the preferred option for many households, rising purchase costs and stricter lending conditions are leading some, particularly younger people, to postpone buying a home or remain in the rental market for longer.

Compared with many Western European countries, Poland continues to have one of the highest home ownership rates in Europe. Approximately 87% of households own their homes, while renting is considerably more common in countries such as Germany, where more than half of households rent, and Austria, where around 43% of residents live in rented accommodation.

Although Poland’s housing market remains ownership-oriented, continued affordability pressures and the expansion of the institutional private rented sector (PRS) may gradually increase demand for professionally managed rental housing in the coming years.

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Bucharest Apartment Sales Fall 2% in First Half, Outperforming National Market

Apartment transactions in Bucharest declined by 2% during the first half of 2026 compared with the same period last year, according to data analysed by property consultancy Colliers.

The result followed a weak start to the year but was better than the national market, where apartment transactions fell by 9%. Colliers attributed the subdued activity to inflation, high borrowing costs and pressure on household incomes.

Performance varied across Romania’s other large cities. Transactions fell by 16% in Cluj-Napoca and by 11% in Iași. Timișoara recorded a 3% increase.

Colliers did not identify the original transaction datasets or provide a detailed methodology in its announcement.

Permit activity increases

The net floor area authorised for residential construction in Bucharest increased 3.6-fold during the first five months of 2026, the strongest increase reported in five years.

Higher permit activity may result in additional housing supply over the next two to five years. However, permits do not necessarily lead to construction, and projects can be delayed by financing, planning procedures and building costs.

Colliers said developers were reviewing new projects after several years in which Bucharest’s development pipeline was constrained by permitting delays and uncertainty over construction costs.

Mortgages retain their market share

Mortgage-financed purchases accounted for approximately 58% of transactions, broadly unchanged from last year. Although borrowing remains expensive, mortgages continue to finance more than half of apartment purchases.

Colliers said housing prices generally continued to rise at a slower rate than inflation. Wages followed a similar pattern, leaving overall affordability largely unchanged.

Buyers are paying closer attention to the total cost of ownership, including financing, energy use, transport and maintenance. Location, construction quality and access to services are also influencing purchasing decisions.

VAT deadline may affect July figures

Registered transactions could increase temporarily in July as buyers complete purchases that remain eligible for a reduced value-added tax rate.

The concession applies under specified legal conditions to buyers who signed preliminary sale agreements by August 1, 2025. Colliers said a similar tax-related effect brought forward transactions last year.

Any increase linked to the deadline would not necessarily indicate a broader change in market conditions.

Transport investment may influence development

Colliers expects Bucharest’s metro expansion, tram upgrades and road projects to affect the relative demand for different neighbourhoods. Better connections between peripheral or semi-central districts and employment centres could make some areas more suitable for residential development.

For developers, the consultancy expects sales performance to depend increasingly on pricing, transport access, energy efficiency and proximity to essential services. Projects that do not correspond closely to buyers’ budgets may require changes to pricing or commercial terms.

The near-term outlook remains linked to inflation and interest rates. Colliers does not expect a clear economic recovery before 2027, although it said planning and permitting activity during 2026 could prepare the market for a later increase in development.

Limited supply and previous permitting delays could continue to place upward pressure on prices in well-connected locations, according to the consultancy. This forecast remains subject to changes in financing costs, household incomes and the wider Romanian economy.

Median Age of Used Cars in Poland Reaches 10 Years

Used cars sold in Poland during the first half of 2026 had a median age of 10 years and a median price of 67,421 złoty, according to an analysis by online vehicle platform Carvago.

The median price was 0.2% lower than a year earlier. Median mileage increased by 571 kilometres to 99,885 kilometres.

Carvago compared Poland with six other European markets and reported that Poland had the highest median vehicle age in the group. The company did not disclose its sample size or provide a detailed methodology, so its findings cannot be directly compared with official registration or transaction data.

Petrol vehicles accounted for 54.1% of the Polish used-car market, down 0.1 percentage point. Diesel’s share declined by 1.6 percentage points to 30.8%.

Electric cars remained at 2.2%, while hybrids gained 2.5 percentage points to reach 10.5%. LPG and CNG vehicles represented 2.2% of the market.

SUVs increased their share by 3.8 percentage points to 44.5%. Hatchbacks accounted for 18.5%, estate cars for 14.6% and saloons for 10.8%.

Volkswagen was the leading brand with an 8.2% share, followed by Audi at 7.5% and Toyota at 6.9%. The Kia Sportage was the most frequently purchased model, accounting for 2% of the market. The Škoda Octavia, Toyota Corolla and Hyundai Tucson followed, each with a share of about 1.8%.

Carvago reported that the median age of used cars in the Czech market was 6.1 years. Electric vehicles represented 5% of that market, compared with 2.2% in Poland.

The company also published separate figures covering orders made through its platform in Austria, Czechia, Germany, Italy, Poland, Romania and Slovakia. These figures are not limited to Polish buyers.

Cars ordered through Carvago had a median age of four years, median mileage of 69,000 kilometres and a median price of 100,706 złoty. Electric vehicles accounted for 24.8% of orders across the seven markets, compared with 39.3% for petrol cars, 24.5% for diesel vehicles and 10.9% for hybrids.

The Škoda Octavia was the most frequently ordered model on the platform, followed by the Volkswagen Golf and Volkswagen ID.4. Four electric cars appeared in the 10 leading models: the Volkswagen ID.4, Škoda Enyaq, Tesla Model 3 and Volkswagen ID.3.

The difference between the platform’s orders and Carvago’s broader Polish market estimates may reflect its cross-border inventory and the profile of consumers purchasing vehicles online.

Czech Biomass Consumption Rises More Than 20% Over Five Years

Biomass consumption in Czechia has increased by more than 20% over the past five years and could reach about twice its 2020 level by 2030, according to estimates cited by biomass trader ResInvest Commodities.

The company did not provide the underlying data source or specify whether the projections were measured by weight or energy content.

Demand is being supported by changes in the heating and energy sectors as operators reduce their reliance on coal and consider alternatives to natural gas. Gas-price volatility and uncertainty over future supplies have also contributed to interest in biomass projects.

Much of the anticipated growth is expected to come from combined heat and power plants and municipal heating systems. Some existing heating plants can be converted to use biomass while retaining parts of their storage, transport and distribution infrastructure.

Biomass can be stored and used to generate electricity or heat when required, allowing operators to adjust output according to demand. This distinguishes it from weather-dependent solar and wind generation, although fuel purchases, storage and transport introduce other costs and operational requirements.

Rostislav Krempaský, biomass trading director at ResInvest Commodities, said locally sourced fuel could allow operators to hold inventories near their facilities and reduce their exposure to short-term movements in international gas prices.

The economic case varies between projects. Relevant factors include the type and efficiency of the plant, the quality and availability of the fuel, transport distances, carbon prices and the ability to secure long-term supply contracts. Biomass is most likely to be viable at heating plants and industrial sites with continuous demand and access to a stable regional fuel supply.

Competition for wood is another consideration. Wood products are increasingly used in construction and other industries, while new energy projects are expected to compete for wood chips and other biomass fuels. Further demand growth could therefore place pressure on prices and available supplies.

Over the next 12 to 24 months, the market is likely to be influenced by natural-gas and carbon-allowance prices, the pace of coal replacement in the heating sector and the availability of suitable wood material. Long-term contracts and supply-chain planning will become more important if additional biomass projects proceed.

ResInvest cited the municipal heating company in Strakonice as an example of a conversion from coal. The plant burned approximately 90,000 tonnes of coal in 2018 but now bases its production mainly on biomass, particularly wood chips.

The conversion indicates that biomass can replace coal in some local heating systems when appropriate equipment and sufficient fuel supplies are available. The Strakonice plant says it seeks to obtain biomass from local producers and considers the sustainability of its supply chain.

The example does not necessarily apply to every heating plant. The feasibility of similar conversions will depend on local infrastructure, fuel availability, environmental requirements and the cost of alternative energy sources.

7R Enters German Market With €70 Million Berlin Warehouse Project

Polish logistics property developer 7R plans to invest about €70 million in the acquisition, refurbishment and expansion of a warehouse complex in eastern Berlin, marking its first project in Germany.

The company said it had completed the main formalities connected with acquiring the property from KARL Gruppe. The purchase price was not disclosed.

The site, located in Berlin’s Lichtenberg district within the BEGEWO industrial area, covers approximately 93,000 square metres and contains an existing warehouse of around 20,000 square metres. According to 7R, more than 90% of the current space is leased.

Operating under the name 7R City Park Berlin East, the brownfield project will combine refurbishment of the existing building with the planned construction of two additional warehouses. The new buildings would provide approximately 23,000 square metres, increasing the complex’s total area to about 43,000 square metres.

7R expects to complete the expansion between 2027 and 2028. The company will initially continue managing the existing property while preparing the technical documentation and approvals required for the new buildings.

The project is being financed through 7R’s own capital, debt and an investment from the Polish International Development Fund 2, which is managed by PFR TFI. Under the arrangement, the fund will acquire a minority interest in 7R’s German subsidiary. The parties did not disclose the value of the fund’s contribution or the amount of debt financing.

The property occupies part of a former concrete-production site at Bennostraße and Gehrenseestraße. KARL Gruppe is redeveloping the broader 200,000-square-metre BEGEWO area for logistics, commercial businesses, urban services and small and medium-sized companies.

7R said it plans to retain and modernise existing infrastructure where possible. This approach would limit the amount of previously undeveloped land required for the project.

The Berlin investment is the first step in 7R’s planned expansion into Germany’s largest metropolitan property markets. The company is considering further urban logistics projects in Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf.

Potential tenants include companies involved in e-commerce, retail, logistics, light manufacturing and business services. The Lichtenberg location is intended to serve urban distribution and last-mile delivery operations within Berlin.

7R cited German market data showing that warehouse and logistics take-up reached nearly 6.1 million square metres in 2025, an increase of 14% from the previous year. The company did not identify the source of those figures in its announcement.

The project also reflects an expansion of 7R’s business model beyond the construction of new logistics facilities. The company is increasing its focus on acquiring, refurbishing, leasing and managing existing properties.

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