Photo: PIXABAYTotal commercial real estate investment volume in Southeast Europe in 2021 exceeded the pre-pandemic level and reached 950 million euros, of which 800 million euros were realized only in the second half of the year, according to the CBRE report. The most significant transaction in the region was the acquisition of the GTC office portfolio in Belgrade to the Hungarian investor Indotek Group, which helped Serbia remain the leader when it comes to overall investment volume in Southeast Europe.
The second half of the year noted stronger activity, reaching nearly 800 million euros of over 950 million euros for the whole year. On annual level, activity in the second half of 2021 has increased by over 200%, when compared to the first six months.
377 MILLION EUROS WERE INVESTED IN OFFICE SECTOR/PHOTO:PIXABAY
Out of a total of 950 million investments, the most was invested in office sector – 377 million euros, 310 million euros were invested in retail facilities, 200 million euros in industrial facilities, and 70 million euros in the mix use sector.
All commercial sectors have been quite active throughout the year, with particularly office segment outreaching others. This is highly contributed due to the acquisition of GTC portfolio in Belgrade by Hungarian fund Indotek Group. The transaction included sale of five business complexes including eleven buildings with achieved price of around 267 million euros.
LARGEST TRANSACTION IN THE REGION: ACQUISITION OF GTC PORTFOLIO IN BELGRADE/PHOTO:GTC
Another notable acquisition from this sector was the sale of Park Lane office building in Sofia, Bulgaria.
The most notable occurrence in the retail sector was the sale of Delta City shopping center in Belgrade, Serbia, and Point shopping center in Zagreb. In addition, Poseidon group sold its portfolio in several secondary cities in Croatia to local investors.
Furthermore, industrial sector has been active as well, with the highest activity noted in Croatia, in terms of volumes. This refers to the sale of prime logistics park in Zagreb wider area, namely Logistics Park Zagreb. Further on, very active investor and developer across the region has been CTP which recently acquired a newly built warehouse and office building at Sofia ring road, and a production facility in Plovdiv.
Overall statistics for the year 2021 leaves Serbia with 61%, Croatia with 25% and Bulgaria with 14% of the total number of shares among SEE countries in investment volumes. Thus, the biggest percentage was noted in Serbia, which has been quite active over the previous 24 months. In addition, Croatia followed especially in the retail sector. Bulgaria, with slightly lower percentage, still remained among the most active in the region. Conversely, over the last two years, investment activity in Slovenia softened, with limited number of transactions.
Source: cbre.rs
