Red tape is frustrating new development in Central and Eastern Europe (CEE), according to Jean-Francois Ott, CEO of troubled CEE developer Orco Property Group. 'There's an anti-development climate in many cities. But the cities need developers. The construction industry will fall away without developers,' Ott told PropertyEU in an interview at Mipim.
Ares, Coima and MEAG are three investors which have closed multiple acquisitions in the last few weeks.
