Poland and the Czech Republic remain the most active markets in Central & Eastern Europe (excluding Russia) in terms of commercial real estate investment transactions.
Poland and the Czech Republic remain the most active markets in Central & Eastern Europe (excluding Russia) in terms of commercial real estate investment transactions.
Preliminary data compiled by Jones Lang LaSalle records EUR 450 mln of investment in Poland, the Czech Republic and Romania during the third quarter of 2012.
This is only marginally higher than the EUR 419 mln volume generated by activity in Poland, the Czech Republic and Hungary during Q2, and well down on the EUR 893 mln of deals for the region in the first quarter. Poland and the Czech Republic were active in each quarter.
JLL said that Poland maintains its position as the key market in the CEE region, responsible for the vast majority of transactions concluded. Figures confirm that despite a general market slow-down, investor sentiment for this country continues to be very positive.
Large deals in Poland during Q3 include the sale of Twarda Tower office building in Warsaw and the O¿arów Business Center - a warehouse complex near the capital. A number of other large volume transactions were signed and await closing across the country. These include Manufaktura shopping centre in £ódŸ, Warsaw Financial Centre (value of approximately EUR 210 mln) and Platinium Business Park in Warsaw (EUR 170 mln).
With some larger transactions under preliminary agreements and others in due diligence, it is expected that the entire 2012 investment volume in Poland will be similar to 2011, at between EUR 2 and 2.5 bn.
