ING Real Estate Investment Management plans to invest again in Poland and the Czech Republic, the company said in a press release. 'The real estate markets in the two countries have recovered better from the crisis than other markets in the region. There is now a growing interest in investment opportunities.'

ING Real Estate Investment Management plans to invest again in Poland and the Czech Republic, the company said in a press release. 'The real estate markets in the two countries have recovered better from the crisis than other markets in the region. There is now a growing interest in investment opportunities.'

The spirit of optimism in Central and Eastern Europe was severely hit by the global real estate and economic crisis. The completion of projects was delayed due to a lack of financing, and several projects were shelved. ING REIM now believes that Poland and the Czech Republic are showing considerable signs of recovery. 'We virtually discontinued our investment activities in the entire region since 2008,' said Martin Sabelko, CEO of ING REIM CEE & Germany. 'Now Poland and the Czech Republic are in our sights again. The two countries did not suffer from real estate problems of their own doing. Moreover, the outlook for the upcoming months is positive.'

One of the company’s investment priorities is shopping centres in Central and Eastern Europe, Sabelko said. 'For some retail markets in Eastern Europe, the crisis was almost a stroke of luck, because the lack of financing and a dampened shopping mood among consumers prevented construction of redundant shopping centres.'

Sabelko believes that recovery is now in sight. 'An increasing number of tenants are seizing the opportunity to secure excellent space at good conditions,' he noted. Sabelko has mixed feelings, however, about the office markets. Although demand for these is also on the rise, the numerous projects that were launched before the collapse of Lehmann Brothers continue to generate additional supply. 'Only when the economy as a whole picks up steam again will it be possible for the office real markets in Poland and the Czech Republic to recover, to reduce vacancy rates, and to start increasing rents.'

ING REIM is one of the largest international investors in the region. The company manages real estate assets throughout Europe worth EUR 17.9 bn. Including the UK market, the figure comes to EUR 25.1 bn.

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