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Development of Boróka Park continues in Kecskemét's most dynamically developing neighborhood. For months now, the volume of retail trade has been declining, which means a significant drop in sales and a downward trend in consumption. The member businesses of the National Trade Association have been looking at how they can operate more cost-effectively with the aim of curbing the rate of price increases. We have selected some of the latest retail and property market news in our round-up.
WING sold its Family Center shopping center to the Unione Investment Group. The Family Center Szombathely, which has 28 stores and stands that change seasonally, came into the ownership of WING at the beginning of 2018, which it has now sold to the company making the purchase offer with almost 100 percent lease.
OTP Bank's new office building in Madarász Street, District XIII, has been inaugurated. The 84,000 square meter building will house 3,000 employees from different parts of the city. The new headquarters was built by Market Zrt. and bears the name M12.
The development of Boróka Park continues in the most dynamically developing part of Kecskemét, next to the Auchan shopping centre. Phase 3 of the property development is an exciting and liveable architectural cluster of 63 apartments in 2 building units with a variety of floor areas. Planned delivery is Q3 2023.
On an annual level, the volume of retail trade increased by 4.5 percent in June. However, the monthly figure is no longer so favorable: the volume fell by 0.5 percent compared to May. After the May data was revised downwards by the statistical office, this means that retail trade is decreasing for the third month, signaling a significant decline and a declining consumption trend.
In the midst of the current serious energy crisis, the member companies of the National Trade Association - all professional groups, such as food, drug stores, distributors of various industrial goods, such as clothing, toys, furniture, technical and DIY goods - examined how they can operate more cost-effectively. The goal is to curb the pace of price increases by minimizing operating costs.
The Accor hotel chain is expanding with two new five-star hotels in Tokaj and Szántód. The 78 million EUR investment will be realized as a result of the partnership agreement of the Hungarian Dreamland Holding tourism real estate development group, the two hotels will open in the last quarter of this year.
Cordia's latest comprehensive urban district rehabilitation project in Poland has started. One of the special features of the development in the area of ​​the former Modena clothing factory located in the center of Poznan is that the new quarter will have more green space than there has ever been in this neighborhood.
New powers have been added to the National Architectural Design Council, which is overseen by the Ministry of Construction and Investment. In the future, the National Planning Council, headed by the State Chief Architect, will give its opinion on the architectural and technical documentation for buildings with a total useful floor area of more than 5,000 square meters and for new multi-family residential buildings with a total useful floor area of more than 1,500 square meters on a building plot and consisting of at least six apartments.
Így épülhetnek a jövőben új irodaházak és lakótömbök! (
Economic uncertainty is starting to impact investment activity in the European commercial real estate (CRE) market, according to the latest Capital Markets Snapshot for Europe, Middle East and Africa (EMEA) by Colliers for the second quarter of 2022. While providing a balance, the Q2 assessment also indicates that the forecast of potential impacts will range widely and that appetite for specific sectors and sub-markets will remain.
These were the highlights of the recent period in the local retail and real estate market.  We'll be back with the latest news in our next issue.