Scandic signs long-term lease for third hotel in Frankfurt

Scandic Hotels Group has signed a long-term lease agreement with Union Investment for a hotel property near Frankfurt Trade Fair and the Skyline Plaza shopping and convention centre.

The hotel, which has been part of the UniInstitutional European Real Estate open-ended real estate fund managed by Union Investment since 2008, was operated by Mövenpick Hotels & Resorts until the end of June 2026.

Before reopening in 2027 under the Scandic brand, the property will undergo refurbishment and be adapted to the operator’s brand and operational standards. The redevelopment will include upgraded guest rooms, updated interior design, the use of sustainable materials and improvements to guest facilities throughout the hotel.

Following the refurbishment and reconfiguration of the existing building, the hotel will offer 296 rooms, an all-day restaurant and bar, a 100 sqm outdoor terrace and meeting and exhibition facilities. The conference area will comprise five meeting rooms with a combined area of approximately 500 sqm.

The agreement expands the existing relationship between Scandic and Union Investment in Germany. The companies also work together on the Scandic Hamburg Emporio, which opened in 2012 and marked Scandic’s entry into the German hotel market.

The Frankfurt property will become Scandic’s third hotel in the city, further expanding the group’s presence in one of Europe’s major financial and business centres.

MLP Group raises additional €100 million through green bond tap issue

MLP Group has raised an additional €100 million through a tap issuance of its existing Senior Green Notes, increasing the total size of the bond series to €400 million.

The additional notes were issued at 102.5% of their principal amount, resulting in a yield to maturity of 5.28%. Interest on the notes will be paid semi-annually.

The transaction expands the bond series originally issued in October 2024, when MLP Group raised €300 million.

According to the company, the proceeds will be used to finance and refinance projects that meet the eligibility criteria set out in its Green Financing Framework. Until the funds are fully allocated to eligible green assets, the proceeds may also be used to finance new developments, acquire land and cover costs associated with the issuance.

MLP Group said it is currently undertaking projects with a combined value of more than €300 million across several European markets. These include developments at MLP Business Park Munich, MLP Idstein near Frankfurt, MLP Hamburg East, MLP City Park Vienna, MLP Rzeszów, MLP Bieruń and further phases of MLP Pruszków.

The company stated that more than 60% of its current capital expenditure programme is allocated to projects in Germany, reflecting its focus on Europe’s largest logistics and industrial property market.

The additional notes carry the same terms and interest rate as the existing series. Following the expiry of the 40-day distribution compliance period, the new notes will be consolidated with the outstanding bonds and treated as a single series.

MLP Group intends to apply to list the additional notes on the Official List of the Luxembourg Stock Exchange and admit them to trading on its Euro MTF Market. The company said no listing prospectus has been prepared or approved for the tap issuance.

Report calls on RE:UK to strengthen real estate sector’s influence through housing and policy leadership

Housing should become the central focus of the UK’s newly formed Real Estate:UK (RE:UK) as it seeks to rebuild the real estate sector’s influence with government, investors and the public, according to a new discussion paper published by three former senior figures from the British Property Federation (BPF).

The paper, The Delivery Mandate: How Real Estate:UK can earn influence, was authored by Andrew Teacher, Peter Cosmetatos and Ian Fletcher.

RE:UK was established through the merger of the British Property Federation, the Association of Real Estate Funds (AREF) and the Investment Property Forum (IPF), bringing together organisations representing property owners, investors, fund managers and advisers.

The authors argue that the UK real estate sector has become less influential in public policy debates and public discussion in recent years, and that RE:UK has an opportunity to strengthen the industry’s role by demonstrating how long-term property investment can contribute to addressing national economic and social priorities.

The report recommends placing housing at the centre of RE:UK’s policy agenda, arguing that institutional investment could help increase housing delivery where planning policies, regulation and investment conditions provide sufficient certainty.

According to the paper, the contribution of real estate extends beyond residential development. The authors argue that institutional capital can also support investment in healthcare facilities, research and development, logistics infrastructure, data centres, defence assets, advanced manufacturing and urban regeneration.

Rather than focusing primarily on industry lobbying, the report recommends that RE:UK position itself as a partner in helping government address wider economic and social challenges. It also encourages the organisation to engage proactively with policymakers during the development of regulation, rather than responding only after legislative proposals have been finalised.

The authors further argue that well-designed regulation can improve market standards, enhance consumer confidence and distinguish professional operators from weaker parts of the market that have contributed to reputational challenges for the sector. They also recommend establishing a permanent in-house capability that combines communications, public affairs, policy expertise and research to support evidence-based engagement with policymakers and other stakeholders.

The report further recommends broadening RE:UK’s membership to reflect today’s investment landscape, including pension funds, overseas investors, private capital and specialist real estate operators. It concludes that the organisation should make housing the foundation of its public policy agenda, engage earlier in regulatory discussions, balance external advocacy with effective internal delivery, and build trust and credibility before seeking greater influence.

The discussion paper was published ahead of RE:UK’s inaugural annual conference, where industry leaders are expected to discuss the future direction of the UK’s real estate sector.

EBA consults on simplifying EU Taxonomy disclosures for banks and investment firms

The European Banking Authority (EBA) has launched a public consultation on proposals to simplify selected disclosure requirements under the EU Taxonomy framework for banks and investment firms.

The consultation, which opened on 1 July 2026, seeks feedback on changes designed to reduce the reporting burden while maintaining the transparency and comparability of sustainability-related disclosures. Responses can be submitted until 12 August 2026, with a public hearing scheduled for 16 July.

The proposals form part of a broader European Union initiative to streamline sustainability reporting. In March 2026, the European Commission asked the European Supervisory Authorities to provide advice on selected key performance indicators (KPIs) contained in the Taxonomy Disclosures Delegated Act.

Among the proposed changes are simplified KPIs covering banks’ fees and commissions, trading book activities and off-balance-sheet exposures. For investment firms, the EBA proposes introducing a simplified “other services” KPI intended to make reporting requirements easier to apply.

The consultation also proposes aligning grandfathering provisions with the EU Green Bond Regulation, providing additional guidance on group-level Taxonomy disclosures and clarifying how operating expenditure (OpEx) KPIs reported by non-financial companies should be treated when used by financial institutions.

According to the EBA, the objective is to simplify reporting requirements without reducing the usefulness of sustainability disclosures for investors and other market participants.

The proposals could affect banks’ and investment firms’ reporting processes, including data collection, KPI calculations, governance arrangements and internal controls. Banking groups operating across multiple jurisdictions may also need to review their consolidated reporting processes in light of the proposed guidance on group-level disclosures.

Institutions relying on sustainability information provided by non-financial counterparties are expected to assess how operating expenditure data is sourced, validated and incorporated into their own Taxonomy reporting.

Following the consultation, feedback will be used to support the European Commission’s review of the Taxonomy Disclosures Delegated Act, which forms part of the EU’s sustainable finance framework.

Source: Deloitte

Too Hot for a Beer? Extreme Heat Is Reshaping Europe’s Drinks Market

Europe’s increasingly frequent heatwaves may be changing consumer drinking habits in ways that challenge long-held assumptions within the beverage industry. While warm weather has traditionally been associated with stronger alcohol sales, emerging research suggests that extreme temperatures can produce the opposite effect.

A recent study by researchers from the University of California, ETH Zurich and North Carolina State University found that alcohol purchases generally increase as temperatures rise, but only up to a certain point. Once temperatures climb above roughly 32°C, demand begins to level off or decline, particularly in regions where extreme heat is less common. Although the research analysed U.S. retail sales, industry experts say the findings are becoming increasingly relevant in Europe as prolonged heatwaves become more frequent.

The shift reflects a broader change in consumer behaviour. During periods of extreme heat, many people reduce outdoor activities, spend more time in air-conditioned spaces and choose beverages that are perceived as more refreshing or hydrating. Public health authorities across Europe also advise limiting alcohol consumption during heatwaves because alcohol contributes to dehydration and makes it more difficult for the body to regulate temperature.

The changing pattern is prompting beverage manufacturers to review their product strategies. Several producers are expanding their portfolios of alcohol-free beer, low-alcohol drinks, soft drinks and other alternatives as consumers seek lighter options during periods of prolonged high temperatures. Industry analysts say the trend is likely to continue as extreme weather events become more common.

The impact, however, is not uniform across the hospitality sector. Some pubs, restaurants and bars continue to benefit from increased customer numbers during warm weather, particularly where shaded outdoor areas or air-conditioned interiors are available. In many cases, consumers are changing what they drink rather than avoiding hospitality venues altogether.

Climate change is also creating broader challenges for beverage producers. More frequent heatwaves can disrupt agricultural production, increase energy consumption and place upward pressure on production costs, while periods of extreme weather may also reduce disposable income and alter consumer spending patterns. These factors are encouraging companies to diversify product ranges and strengthen supply chain resilience.

According to the Copernicus Climate Change Service, Europe is warming faster than any other continent, with heatwaves expected to become both more frequent and more intense. As a result, beverage producers are increasingly treating climate adaptation as a long-term commercial issue rather than simply a seasonal challenge.

Czech retail sales accelerate in May as consumer spending strengthens

Retail sales in the Czech Republic, excluding motor vehicle sales and repairs, increased 4.7% year-on-year in May 2026, accelerating from a revised 0.8% increase in April, according to the Czech Statistical Office (CZSO).

On a month-on-month basis, retail sales rose 1.3%.

Growth was driven by stronger sales of non-food goods and food, while fuel sales declined.

Sales of non-food goods increased 7.4% year-on-year, while food sales rose 2.9%. Fuel sales fell 0.8% compared with May 2025.

Among individual retail categories, clothing and footwear retailers recorded the strongest performance, with sales rising 15.7% year-on-year. Non-specialised stores predominantly selling non-food goods reported growth of 7.8%, while internet and mail-order retailers increased sales by 11.6%.

Sales at non-specialised food retailers rose 3%, while specialised food stores recorded growth of 2.6%. By contrast, retailers of computer and communication equipment reported a 5.4% decline in sales.

Sales and repairs of motor vehicles increased 4.6% year-on-year and were 1% higher than in April.

Separately, the Czech Republic recorded a CZK 9.9 billion trade surplus in May, according to preliminary CZSO data.

Exports increased 5.6% year-on-year to CZK 415.6 billion, while imports rose 6% to CZK 405.7 billion. The surplus was CZK 1 billion lower than in May 2025.

The trade balance benefited from stronger exports of machinery, electrical equipment and fabricated metal products, while trade in coke and refined petroleum products had a negative impact on the overall result.

Slovak retail sales edge higher in May as specialised stores outperform

Retail turnover in Slovakia increased by 0.9% year-on-year in real terms in May 2026, supported by stronger sales in specialised retail stores, according to the Statistical Office of the Slovak Republic.

Four of the nine retail trade categories recorded year-on-year growth after adjusting for inflation, while overall performance was held back by weaker results from e-commerce and large grocery retailers.

The strongest contribution came from specialised stores selling other goods, including pharmacies, drugstores, clothing and footwear retailers, and household fuel outlets, where turnover rose 6.2% compared with May 2025.

Double-digit growth was also recorded by DIY, furniture and electronics retailers, as well as stores specialising in sporting goods, books, toys, computers and information technology equipment.

By contrast, online and mail-order retailers recorded a 13% decline in turnover, while sales at hypermarkets and supermarkets fell 3% year-on-year. These segments account for a significant share of Slovakia’s retail market.

On a seasonally adjusted basis, retail turnover increased 0.1% from April.

For the first five months of 2026, retail turnover rose 0.2% year-on-year in real terms, with five of the nine retail segments recording growth.

Outside retail, accommodation providers posted the strongest annual increase, with turnover rising 19.7% in real terms during May. Wholesale turnover increased 8.2% in current prices.

Meanwhile, turnover in the sale and repair of motor vehicles declined 12.5% in real terms, while food and beverage service activities recorded a 3% decrease.

Compared with April, seasonally adjusted turnover increased 14.4% in accommodation and 10% in food service activities. Motor vehicle sales and repairs fell 2.7%, while wholesale turnover edged down 0.3%.

During the first five months of 2026, accommodation turnover increased 19.4% year-on-year, wholesale grew 5.7%, while turnover in motor vehicle sales and repairs declined 8.6% and food service activities fell 2.4%.

Czech inflation slows to 1.5% in June, preliminary data show

Annual consumer price inflation in the Czech Republic slowed to 1.5% in June 2026 from 2.1% in May, according to a preliminary estimate published by the Czech Statistical Office (CZSO).

On a month-on-month basis, consumer prices declined 0.3% in June. The CZSO is scheduled to publish the final inflation figures on 10 July.

June recorded one of the lowest inflation rates of the year, exceeded only by February’s reading of 1.4%. Inflation reached its highest level of 2.5% in April.

Services remained the main source of price growth, with prices increasing 4.5% year-on-year. Prices for alcoholic beverages and tobacco also rose significantly, up 4.3% compared with June 2025.

Food and non-alcoholic beverage prices recorded the largest annual decline, falling 3.4%. Prices of unprocessed food decreased 2.1%, while processed food prices declined 0.6%.

Energy prices, including motor fuels, fell 1% year-on-year, compared with a 1.8% annual increase recorded in May. Goods prices also edged lower, declining 0.4% after posting an increase in the previous month.

Inflation remained above 2% for most of the second half of 2025, reaching 2.9% in June last year. During the first half of 2026, however, inflation moderated and remained below the Czech National Bank’s 2% inflation target for most months.

According to economists, the moderation in inflation during the early part of the year was supported in part by the transfer of renewable energy support payments from households to the state.

When Polish Capital Finds Greater Opportunity in Britain Than at Home

One of Poland’s wealthiest entrepreneurs, Michał Sołowow, plans to invest £35 billion to develop a fleet of 14 BWRX-300 small modular reactors (SMRs) across three sites in the United Kingdom. The project, led by SGE, aims to deliver 4.2 GW of generating capacity, enough to power the equivalent of around eight million homes for more than 60 years.

The UK has actively sought to attract private investment into advanced nuclear technologies through its Advanced Nuclear Framework, which supports privately led nuclear projects while combining regulatory oversight with government-backed support mechanisms where appropriate. This approach has encouraged developers to bring forward privately financed nuclear proposals alongside public initiatives.

The contrast with Poland is notable.

Sołowow has spent several years developing SMR technology through SGE, formerly Synthos Green Energy. In Poland, however, the company’s deployment strategy became closely linked with the state through the creation of the Orlen Synthos Green Energy joint venture with Orlen.

What was initially presented as a strategic partnership later became the subject of reported disagreements over governance, project control, investment strategy and the allocation of responsibilities between the private and state-owned partners. The project also attracted scrutiny from prosecutors and state institutions, although the related proceedings were ultimately discontinued without establishing wrongdoing. These events nevertheless highlighted the challenges that can arise when large strategic investments combine private capital with state-controlled enterprises.

The experience has contributed to a broader debate about the role of private investment in strategic sectors.

Poland faces a growing need for reliable, low-emission electricity to support industrial competitiveness, data centres, advanced manufacturing and broader economic growth. Renewable energy will remain an important part of the energy mix, but continued investment in electricity grids, storage capacity and dispatchable generation will also be required. Nuclear energy, including SMRs, is widely viewed as one potential source of stable baseload power.

Small modular reactors are not a short-term solution. Projects still require regulatory approval, financing, suitable sites, public acceptance and comprehensive safety oversight before construction can begin.

The UK model illustrates that governments can encourage private investment while maintaining strong regulatory control. Rather than acting primarily as project developers, governments can establish clear regulatory frameworks, ensure rigorous safety standards and provide predictable investment conditions.

For Poland, the key policy question is how to balance strategic oversight with an investment environment that allows private capital to participate effectively. As Polish companies increasingly pursue opportunities abroad, the debate over whether domestic regulatory and institutional frameworks are sufficiently attractive for long-term private investment is likely to become increasingly important.

Source: WEI

REALOGIS secures new tenant for CityLink logistics property in Dortmund

REALOGIS Immobilien Düsseldorf GmbH has secured a new tenant for a logistics property owned by CityLink in Dortmund.

The property, located at Strümpenbusch 3 in the Oestrich industrial estate, was acquired by CityLink in 2021 through REALOGIS. The new lease follows the expiry of the previous tenancy agreement, ensuring the building’s continued long-term occupancy.

LAMPAG GmbH has signed a lease as the sole occupier of the property. The company is part of the internationally active Alu Group and manufactures Schüco windows, doors and façade systems.

Built in 1990 on a site of approximately 15,000 sqm, the logistics property provides around 5,950 sqm of lettable space, including approximately 4,530 sqm of warehouse space and 1,420 sqm of office accommodation across the ground and first floors.

The site also includes approximately 3,000 sqm of external space that can be used for car and truck parking as well as outdoor storage.

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