Hungary

FASHION STREET FILLS IN BUDAPEST’S GROWING HIGH STREET

Attracting both tourists and shoppers looking for a more unique (and more expensive) shopping experience, Budapest’s high street shopping area continues to develop with the recent completion of Immobilia’s Fashion Street, eight years in the making.
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Romania

PAUL BACON: CASH IS KING AGAIN

Paul Bacon, CEO of Cushman & Wakefield EMEA, was in Bucharest in October, where CiJ spoke to him about the prospects for his company, and the outlook for CEE’s property market. Bacon said he’s pleased with C&W’s growth in Romania and that jobs there so far are safe.
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Czech Republic

ECE’S 100TH MALL NOT SLOWED BY PERMIT FLAP

A somewhat bizarre situation emerged just weeks before Arkády, ECE’s newest shopping center, was set to open in Prague 4 in the middle of November. In late September, a high court in Prague rescinded the building permit on several new road investments paid for by developers in the area, even though they’re already being used. The project suffered through long delays in the early days of planning because of vociferous objections from a few civic initiatives, but before now, these groups were routinely batted aside by ECE and the other main developers in the area, Immoeast and ECM, who are building offices there
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Slovakia

GRUNT SEALS JV DEAL WITH HEITMAN

Whether the move was prompted by the difficulty in getting financing for future projects, or simply a desire to improve its standing on the residential market, Slovak developer Grunt has put ink to paper on a deal that creates a close relationship with Heitman. For the moment, the scope of the agreement is limited to a pair of projects in Bratislava.
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