CPI profits rise in Q3 to €221m

CPI Property Group has reported profits of €221m for the first three quarters of the year, a gain of 22 percent from last year. Its total earnings over this period rose 12 percent to €491m. "All of the key sales and financial indicators in the third quarter continued to move in a positive direction," said CPI's general director Martin Němeček. CPI has made a major push into the Warsaw market in recent months, including the acquisition of the Warsaw Financial Center from Allianz Real Estate and Tristan Capital Partners. Němeček expects to spend €800m in the Polish capital by the end of the first half of 2020.