Poland and Ukraine Face New Tensions Over Historical Memory and Defence Cooperation

Relations between Poland and Ukraine have entered a period of renewed tension following a dispute over historical memory and a separate disagreement regarding military cooperation.

The latest controversy emerged after Ukrainian authorities granted the honorary title “Heroes of the UPA” to a military unit. The designation prompted criticism in Poland, where the Ukrainian Insurgent Army (UPA) remains closely associated with the wartime massacres of Polish civilians in Volhynia and Eastern Galicia during World War II.

In response, Polish President Karol Nawrocki announced that he was revoking the Order of the White Eagle previously awarded to Ukrainian President Volodymyr Zelensky. Zelensky subsequently returned the decoration and suggested that the decision was influenced by domestic political considerations in Poland.

The dispute highlights the continuing sensitivity of historical issues in Polish-Ukrainian relations, despite the close political and military cooperation that has developed since Russia’s full-scale invasion of Ukraine in 2022.

At the same time, a separate disagreement has emerged over military cooperation. Poland has paused discussions regarding the transfer of additional MiG-29 fighter aircraft to Ukraine, with Polish officials linking the issue to broader negotiations on defence technology cooperation.

Deputy Defence Minister Cezary Tomczyk confirmed that Warsaw and Kyiv have not yet reached an agreement regarding access to Ukrainian drone-related technologies and expertise. Polish officials have indicated that future military cooperation should include benefits for Poland’s own defence capabilities.

The development reflects an increasingly pragmatic approach to defence cooperation between the two countries. While Poland remains one of Ukraine’s most important military and political supporters within NATO and the European Union, Polish officials have increasingly emphasized the importance of long-term security cooperation and reciprocal benefits.

Since the start of the war, Poland has provided substantial military assistance to Ukraine, including armoured vehicles, artillery systems, aircraft and logistical support. The country has also served as a critical transit hub for Western military aid and humanitarian assistance entering Ukraine.

Despite the recent disagreements, neither Warsaw nor Kyiv has indicated any intention to reduce broader strategic cooperation. Poland continues to support Ukraine’s sovereignty, territorial integrity and Euro-Atlantic aspirations, while Ukraine remains an important security partner for Poland on NATO’s eastern flank.

Analysts note that the current disputes illustrate the growing complexity of a relationship that has evolved from emergency wartime cooperation into a broader partnership that must also address historical issues, defence-industrial cooperation and long-term national interests on both sides.

While disagreements over historical memory and military cooperation have generated political tensions, both countries continue to share a strategic interest in maintaining close cooperation amid ongoing regional security challenges.

Source: WEI

Art-Invest Real Estate Acquires Deutsche Bank Headquarters Building in Hamburg

Art-Invest Real Estate has acquired the historic Deutsche Bank headquarters building at Alter Wall 37–53, Adolphsplatz 7 and Mönkedamm 2 in central Hamburg.

The landmark property, which has been occupied by Deutsche Bank for more than 140 years, is scheduled to undergo a comprehensive refurbishment between 2028 and 2031. Deutsche Bank will remain at the location and has agreed to lease the majority of the office space following completion of the redevelopment.

The building complex is situated in Hamburg’s city centre, close to the Town Hall, the Chamber of Commerce, Neuer Wall and the Nikolai Quarter. Following the refurbishment, the property will provide approximately 16,450 sqm of leasable space. According to the parties, around 75 percent of the space has already been pre-let through Deutsche Bank’s long-term commitment.

The redevelopment will focus on modernising the listed property while preserving its historic character. Plans include the creation of a covered central atrium, redesigned office areas, a rooftop terrace, a new Deutsche Bank branch on Adolphsplatz and a publicly accessible café facing Alter Wall.

The project marks another collaboration between Deutsche Bank and Art-Invest Real Estate. The two companies have previously worked together on office developments in Bonn and Berlin.

Martin Tuens, Deputy Head of Global Real Estate at Deutsche Bank, said the investment will create updated workspace for employees and a modern branch for customers while reinforcing the bank’s long-term commitment to Hamburg.

Martin Wolfrat, Managing Director of Art-Invest Real Estate in Hamburg, said the refurbishment will adapt the historic building to contemporary office requirements while preserving its architectural significance and strengthening its role within the Alter Wall district.

The transaction continues Art-Invest Real Estate’s involvement in the redevelopment and repositioning of the Alter Wall area, where the company has been active since 2014.

SOHO by Yareal Adds Three New Retail and Service Tenants in Warsaw

fletcher@cijeurope.com
23 June 2026
Company News, Deals, Residential, Retail

Yareal Polska has signed lease agreements with three new occupiers at its SOHO by Yareal mixed-use development in Warsaw’s Kamionek district. The transactions cover nearly 500 sqm of ground-floor retail and service space.

The new tenants are pet supplies retailer Maxi Zoo, ceramics workshop Alike Pottery Studio and coffee bean distributor Unroasted.

Maxi Zoo, part of Germany’s Fressnapf Group, will occupy more than 150 sqm in the SOHO 10 building facing Żupnicza Street. The store is scheduled to open in October 2026. The company currently operates more than 175 stores across Poland.

Alike Pottery Studio has also leased space in the SOHO 10 building. The approximately 130 sqm premises will be used for ceramics and pottery workshops, training sessions and retail sales of related accessories. The opening is planned for October and will be the brand’s third location in Warsaw.

Unroasted, a coffee importer and distributor established in Wrocław in 2014, has leased more than 150 sqm in the RUBIN residential building overlooking the development’s linear park. The company is expected to begin operations in October.

Paulina Petynka, Head of Commercial Leasing at Yareal Polska, said the additions further diversify the retail and service offer available within the development and complement existing amenities for residents and visitors.

SOHO by Yareal is a mixed-use project in Warsaw’s Praga Południe district that combines residential, retail, service and office functions. The completed residential portion comprises 10 apartment buildings with a total of 870 apartments.

The development includes more than 11,300 sqm of retail and service space distributed across dozens of units. Existing tenants include food and beverage operators, convenience retail, healthcare, education, wellness and personal services providers.

Construction is currently underway on SOHO HUB, the final phase of the wider development. Scheduled for delivery between 2026 and 2028, the project will add more than 9,000 sqm of commercial space and approximately 2,500 sqm of additional retail and service area.

MLP Group Begins Construction of MLP Rzeszów Logistics Park

MLP Group has started construction of MLP Rzeszów, a new logistics development in southeastern Poland. The project will be located in the Podkarpackie region and is planned to provide approximately 65,000 sqm of warehouse and light industrial space upon full completion.

The first phase of the development includes a 26,000 sqm facility, with completion scheduled for December 2026. The project is being developed without a pre-let agreement in place.

BREMER Sp. z o.o. has been appointed as the general contractor for the first phase.

Agnieszka Góźdź, Member of the Management Board and Chief Development Officer at MLP Group, said the project forms part of the company’s ongoing expansion across regional logistics markets in Poland. She noted that the Podkarpackie region benefits from established transport infrastructure and an industrial base that supports logistics and manufacturing activity.

Upon completion, MLP Rzeszów will comprise approximately 65,000 sqm of logistics and industrial space. According to the developer, the project is planned to achieve BREEAM Excellent certification and will incorporate energy-efficiency and sustainability measures in line with the company’s development standards.

The logistics park is located approximately 1.7 km from the S19 expressway, 3.5 km from the A4 motorway and around 6 km from Rzeszów-Jasionka Airport. The site also provides access to transport routes linking Poland with Ukraine and other regional markets.

Piotr Brańka, President of the Management Board of BREMER Sp. z o.o., said the company would continue its cooperation with MLP Group as general contractor for the project.

KronenPark Residences Reports Recent Sales Activity as Construction Advances

fletcher@cijeurope.com
23 June 2026
Company News, Construction, Transportation

KronenPark Residences, a residential development by West Group in the Pipera area of Bucharest, has sold 15 apartments over the past month, with transactions exceeding €3 million in total value.

The project comprises 547 apartments across eight buildings on a 23,000 sqm site. According to the developer, approximately 90 percent of the construction teams required for the development have been contracted.

Dan Crăciunescu, Founder of West Group, said the project is currently the most advanced development under the Kronen brand and will serve as a reference for future projects in Romania and Germany.

The developer reports that most buyers are professionals and entrepreneurs purchasing homes for personal use, while interest has also been recorded from Romanians living abroad, particularly in the United Kingdom, Germany, Spain and Canada.

Construction works are continuing across the site. The structural framework of all buildings has been completed, exterior aluminium window systems have been installed, façade works are underway and building services installations are in progress.

KronenPark Residences will include apartments ranging from studios to penthouses. Planned amenities include underground parking, electric vehicle charging stations, smart home systems, concierge services, property management and a private park.

Cristina Feodorov, Sales Director of KronenPark Residences, said buyers are increasingly focused on construction progress and the financial stability of developers when making purchasing decisions. She added that current prices remain unchanged from the project’s launch phase, with revisions expected as construction advances.

The developer states that demand in Bucharest’s premium residential market remains active, although buyers are taking a more cautious approach and placing greater emphasis on project delivery and construction status.

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

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

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

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

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

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

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

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

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

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

CASPYAN Marks Construction Milestone at Konstanta Karlín Residential Development

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

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

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

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

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

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

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

SwitchUp Enters the Polish Market with Lease at AFI Office House

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

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

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

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

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

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

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

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

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

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

Investor Acquires HelloParks Logistics Facility in Fót

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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