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Commercial Real Estate News Volume 4 No 4 (37) April 2010 The panel agreed that retail will be the strongest sector because the yields are so attractive. Retail has been holding up pretty well and that is coming across in our valuations, Chris Grzesik explained Going into more detail on why to invest in Poland Daniel Harris said, The whole reason is that theres a growth story in Poland. The population is young, their incomes are growing therefore this growth will fundamentally come through peoples spending and purchasing power so therefore the growth story in Poland comes through retail and residential. The offi ce is a much more cyclical market and impacted by outside factors. On the Infrastructure/ PPP projects and opportunities panel, Daniel Kopania from Clifford Chance explained: Now is a good time for infra- structure projects from private initiatives, especially on airports. According to the panellists, most of todays PPP projects relate to sports facilities. Warsaw is a good example of how to set up a PPP scheme. At present there is stable interest in mixed-use and regeneration schemes. The projects with the biggest returns are attracting the most interest from private investors. The key to PPP projects is that all parties should have a clear idea of what they are offering each other, commented Maces Mark Richards. Overall the panellists agreed that there are many upcoming PPP projects in Warsaw, with great interest coming from the private sector. Furthermore, the capital has substantial amounts of plots up for sale to private companies. On the final panel, experts expanded on previous themes and surmised the investment, legal, banking, project finance, retail and offi ce development aspects of the Polish market. Deals are smaller and less complex. What scares me is all the hype sur- rounding Polands real estate market at present, said Eurohypos Markus Leininger. There could be a yo-yo effect. We should be careful of a rebound. Ernst & Youngs James Foley added, Banks are back in the game, but it is a little pricier. Product pricing is a big problem. No investor wanted to be the first to find out theyd paid too much. Elio Szmawonian, Board Advisor & Investor Relations at Mayland went into more detail about his companys success with developing then selling their retail portfolio in Poland. We were lucky to have finance. Now financ- ing is more diffi cult but if you have the right product and right partners banks are willing to talk with you. Clifford Chances Piotr Szafarz explained that an attractive part of the Polish market is its transparency and more flexible system to contract law. Foley wrapped up proceedings with some words of caution. Watch out for the double-dip, there will be a slow down before there is an improvement. What were witnessing is a fl ight to quality. The best projects will remain the best projects. Forum attendees and participants included CRE Professionals End- Users - Expert Panellists - Local Authorities - Real Estate Investment companies - Property Development companies - Institutional Investors - Corporate Investors - Investment Funds - Investment Banks and Advisors / Consultants / Brokers. The EuropaProperty Poland Breakfast Forums sponsors and partners included: Jones Lang LaSalle and SEGRO. Exclusive Legal Partner: Clifford Chance. Media partners: BiznesPolska.pl, BizPoland magazine. Recruitment Sponsor: REALjobscee. Exclusive Internet Partner in Russia: Arendator.ru. Chris Grzesik from Poland Properties and Magdalena Szulc, Segro The Poland Breakfast Forum was attended by 200 real estate professionals Maciej Tuszyński from WestImmo and Helmut Fischer from Griffin High Street Jeroen van der Toolen, Ghelamco, Elio Szmawonian, Mayland and Euro Hypos Markus Leininger Aleksander Buwelski, Vice President of Szczecin and Alan Aleksandrowicz, CEO Gdansk Economic Development Agency 9 OFFICE SPACE LISTINGS IN POLAND see inside! April 2010 Volume 4 No 4 (37) Monthly News Published by NEWS Poland well positioned to thrive Poland took centre stage for the first time at this years international real estate fair MIPIM. As a result, the country witnessed many events arranged for partic Commercial Real Estate News Volume 4 No 4 (37) April 2010 Salans advises Bonduelle Group in connection with its investments in Ukraine Salans has acted as a legal advisor in Ukraine to Bonduelle Group, in relation to its investment in the construction of a factory producing canned and frozen vegetab Commercial Real Estate News Volume 4 No 4 (37) April 2010 European housing showing signs of recovery Signs of recovery are visible in some European housing markets, especially in sales levels and prices, says the latest RICS European Housing Review. A significant number of European residential marke Commercial Real Estate News Volume 4 No 4 (37) April 2010 ProLogis leases nearly 70,000 sqm of distribution space in Central Europe ProLogis has announced that it has signed five new lease agreements in Central Europe, covering 68,800 sqm. Three lease agreements were signed in Poland, the first with Commercial Real Estate News Volume 4 No 4 (37) April 2010 Poland is well positioned to thrive after growth in 2009 say market professionals at EuropaPropertys Poland Breakfast Forum Poland took centre stage for the first time at this years international real estate fair MIPIM. As a result, the count Commercial Real Estate News Volume 4 No 4 (37) April 2010 The panel agreed that retail will be the strongest sector because the yields are so attractive. Retail has been holding up pretty well and that is coming across in our valuations, Chris Grzesik explained Going into more detail on why to inves Europaproperty.com provides comprehensive and up-to- date news, information and analysis on commercial real estate markets and related businesses. Through our printed and electronic publications, conferences and awards events we cover the whole of Central and Eastern Europe, Russia and the CIS. Subs Commercial Real Estate News Volume 4 No 4 (37) April 2010 FINANCE FOCUS Hypo Real Invest acquires Vyšehrad Victoria offi ce building in Prague Skanska Property Czech Republic is divesting its offi ce project, Vyšehrad Victoria, in Prague to HRI Immobilienfonds, of the Austrian Hypo Real Invest AG, f Commercial Real Estate News Volume 4 No 4 (37) April 2010 FINANCE FOCUS Corio acquires 1.3 billion Multi shopping centre portfolio Corio has purchased a 1.3 billion shopping centre portfolio from Multi. This ranks as one of the largest European retail portfolio transactions recorded to date. Corio w Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Galeria Kaskada GTC and Polnord join forces on retail project in Warsaw Globe Trade Centre S.A. (GTC) and Polnord S.A. (Polnord) have signed a term sheet of a joint venture for the development of a modern shopping centre on a 7 h Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS The awards were witnessed by 450 top industry professionals CEE RETAIL A W ARDS Pawel Debowski, Clifford Chance Martin Erbe, WestImmo Daniel Harris, MGPA and the region as a whole, is very much an active market and one that we ho Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS of the Year award. Chapman Taylor picked up Architectural Firm of the Year, Clifford Chance was awarded Law Firm of the Year and First Title took home the Professional Service Provider of the Year award. AWARD WINNERS Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS TriGranit share holders inspect Arenas construction progress IKEA s Port Lodz Arena Centar works ahead of schedule A delegation of TriGranit shareholders and executive management recently visited Zagreb to inspect the constructio Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Korczowa Dolina Serdika Center Korczowa Dolina offers new commercial venue for trading with Ukraine The investors of Korczowa Dolina Distribution Centre have recently received a building permit to construct the distribution centr Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Multi Corporation sells 35 percent of Forum Mersin to Union Investment for 68 million Multi Corporation and Union Investment have finalized an agreement to purchase the remaining 35 percent of the shares owned by Multi. Union Inv Commercial Real Estate News Volume 4 No 4 (37) April 2010 RETAIL FOCUS Polands first Family Point opens in Wroclaw Polands first Family Point has opened its doors in Wroclaw. The 9,000 sqm centre is one of only a few retail parks in the country and features a total of 17 shopping and recreational ou Commercial Real Estate News Volume 4 No 4 (37) April 2010 EuropaProperty presents the 5th annual SEE Real Estate Awards for 2009 Building on the success of the last four EuropaProperty SEE Real Estate Awards, EuropaProperty is proud to present the fifth annual SEE Real Estate Awards for 2009. The Aw Commercial Real Estate News Volume 4 No 4 (37) April 2010 Segro wins a new customer in Tulipan Park Ostrava The German company Erwin Quarder has become the latest customer in Segros Tulipan Park Ostrava, leasing a total of 4,220 sqm of warehouse space. Tulipan Park Ostrava is being developed on a 4 Commercial Real Estate News Volume 4 No 4 (37) April 2010 European investment volumes up 10 percent over last four quarters says DTZ Reflecting seasonal trends, the volume of commercial real estate investment across Europe posted a 29 percent quarter- on-quarter decrease to 16.3 billion, when compar Commercial Real Estate News Volume 4 No 4 (37) April 2010 Central Europe boosts industrial real estate market Central Europe continues to play a significant role on the industrial real estate map, and despite the rebalancing of the global economy, the market saw a number of major transactions; last Commercial Real Estate News Volume 4 No 4 (37) April 2010 People on the move Kirill Popov appointed as Executive Director at C&W in Russia Cushman & Wakefield has announced the appointment of Kirill Popov as an Executive Director. Kirill will focus on coor- dinating the activities of the offi ce, re Selected Offi ce Buildings in Commercial Real Estate News Poland List your available office space in the May edition of The Wire for only 99. Deadline April 25th. Volume 4 No 4 (37) April 2010 photo name of building address net price (per sqm) class total space /available /minimum available investor Commercial Real Estate News Volume 4 No 4 (37) April 2010 Selected Offi ce Buildings in Poland, cont d photo name of building address net price (per sqm) class total space /available /minimum available investor contact agency contact Advertise your SUBLEASE offi ce space in The Wire for only 99 per The Commercial Real Estate NEWS E.C.E. Property Media ul. Łucka 15, 00-842 Warsaw, Poland iption ubscr t: s ac trial for a lease cont perty.com p pro opa eur eting mark Publisher Craig Smith craigeuropaproperty.co +48 604 144 769 Editorial Director Winston Norman winstoneuropaproperty. +48 (22) 586