Eastern Europe

Mainland Europe hotels have seen better months. A 5.0% decline in average room rate dropped RevPAR 3.2% year-over-year in July, and with total revenue not faring better, GOPPAR in the month was down an unsettling 9.4% YOY, according to data from HotStats.

Prime residential rental growth across leading world cities slightly picked up pace during the first half of 2019, rising 0.9% to take average year on year growth to 1.3%. This continues a four-year long pattern of low level, but steady increases, resulting in the first uptick in average yields since late 2014 as capital valu...

in the first built-to-suit deal on the country's office market, Etalon Group has sold a 16-storey, ​​34,000 sq m office building to Raiffeisenbank. The building will be located in the territory of the Nagatino I-Land business park on Andropova Avenue 18 in Moscow. This is the largest deal closed in the office real estate mark...

The total volume of Moscow office take-up grew by 27% YoY and amounted to 361,000 sq m in Q2 2019, according to JLL. In H1 2019, the indicator reached 646,000 sq m.

The H1 2019 take-up volume in the Moscow region increased by one-third YoY and reached 854,000 sq m of which over 500,000 sq m transacted in Q2 2019, according to JLL. The demand of logistic companies has grown the most significantly. The share of logistics in the take-up structure has risen to 31% from 14% in 2018, deals vol...

New Reima store opened in Forum Lviv shopping centre. From now on, the brand of children's clothing is presented in the shopping centre, on the First floor in the fashion gallery, with a store measuring 120 m². “The Reima brand is a wonderful addition to the brands portfolio in the kids apparel segment,” comments Marina Nest...

Russia’s real estate investment volumes increased by 24% YoY to more than USD1.6bn in H1 2019 compared to USD1.3bn in the previous year, says JLL. In this, Q2 2019 volume reached USD643m, 13% higher than in Q2 2018 (USD568m). “Growth in H1 2019 can be explained by the closure of several large transactions. Increased stability...

Multi Corporation appointed Antoine Mocachen as Managing Director for Central and Eastern Europe, effective 17 June 2019. He will be responsible for Multi’s activities in Hungary, Poland, Slovakia and Ukraine. Antoine Mocachen succeeds Luca Maganuco, who has filled this position on an interim basis for the past year, in addit...

JLL presents the Q1 2019 Moscow region warehouse market update. The vacancy rate has been declining for the past two years. According to real estate advisory, the vacancy rate in the Moscow region warehouse market declined by 0.3 ppt in the first three months of 2019, to 4.2%. The take-up volume in Q1 2019 was 348,000 sq m, o...

The vacancy rate in Moscow shopping centres declined to 4.3% in Q1 2019, which is the lowest level since the middle of 2014, according to JLL. This is due to the low number of completions in 2017-2018, when only eight new schemes (278,000 sq m[1]) entered the market; the figure is half the level of new shopping centre deliver...

The high demand for offices, including government sector, has led to reduction of the vacancy rate by two thirds during 2016-2018, to 7.3%. Although the announced completions in the next five years is significant, the vacancy rate will stay stable at this low level, which will support further rental rate increase, according t...

Radisson Hospitality AB to celebrate the opening of the Radisson Collection Hotel, Moscow with 501 guest rooms and suites. Located on the bend of the Moskva River, the hotel was formerly the tallest in Europe. The rebrand is now complete and the hotel has become the latest addition to the group's exceptional collection of pre...

Hotel values across Europe registered another strong year in 2018 showing 3% growth and reaching new highs, according to the annual European Hotel Valuation Index (HVI), compiled by HVS. Although a more modest growth than that of 2017 at 3.9%, 2018 saw recovery for many cities as well as a levelling off in values for some mar...

Europe’s commercial real estate markets maintained their positive trend across most markets and property types during the fourth quarter of 2018, according to Cushman & Wakefield’s latest DNA of Real Estate report. The European sector, however, was more subdued.

Stockmann has completed the sale of its Nevsky Centre shopping centre to the new owner PPF Real Estate . The transaction included Stockmann’s fully-owned Russian subsidiary, OOO Stockmann Nevsky Centre, which owns 100% of the Nevsky Centre property. The transaction price was €171 million and the transaction had a positive cas...

Stockmann signed an agreement to sell its Nevsky Centre shopping centre property on Nevsky avenue 114-116 in St. Petersbur, to PPF Real Estate . Due to delays in the closing process, the Nevsky Centre transaction will not be completed by the end of the year as earlier estimated.

JLL has appointed Anders Liljenstolpe as Managing Director of its Russia & CIS business, effective December 3, 2018. He will succeed Tom Devonshire-Griffin, who will join JLL’s International Capital Markets team.

Radisson Hotel Group has added one of Moscow's legendary landmarks, the Radisson Royal Hotel, Moscow, to the exceptional Radisson Collection, effective January 2019. Reserved only for the group's most outstanding properties, Radisson Collection's global portfolio boasts a glittering array of local exceptional hotels and one-o...