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Posts from CIJ for 02/15/2016

Daily Commercial Real Estate News for CEE
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In this edition: 02/15/2016

Drinks Before Home, 11th of February 2016

Feb 15, 2016 01:05 pm
Last Thursday we held our monthly event 'Drinks Before Home' sponsored by Vitalis Consulting and Greenfield. Vitalis Consulting is a leading International Consultancy Company in the Construction and Real Estate sector. Established in 2006, Vitalis Consulting has rapidly grown and currently has a staff of 24 people in Bucharest. Their extensive experience in...
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Lidl to open Lithuanian logistics center in April

Feb 15, 2016 11:28 am
Lidl is set to open a 42,000 sqm logistics center in Ramuciai, Kaunas County, in mid-April, according to local news reports. The German discount retailer is gearing up to expand its operations across Lithuania and is expected to open a number of new locations around the country in June, starting with a store in Vilnius followed by an opening in Jonava. The company is also...
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Latvia’s construction volume falls to €500.5m in Q3

Feb 15, 2016 11:25 am
Construction output on the Latvian market fell 6.2 percent y-o-y to €500.5m in the last three months of 2015, according to the country’s central statistical bureau (CSB). Construction of buildings dropped 8.5 percent, while civil engineering structural works fell by 3.9 percent. On the other hand, work on harbors, waterways and dams increased by 59 percent, while the...
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Veniam raises €20 million with Verizon Ventures for vehicle connectivity development

Feb 15, 2016 11:10 am
The Portuguese start-up Veniam announced a €20m Series B round led by US Verizon Ventures, with Cisco Investments, Orange Digital Ventures and Yamaha Motor Ventures joining the round. Veniam is headquartered in California, but is a result of cooperation between the University of Aveiro, the University of Porto and Portugal's Telecommunications Institute. It also...
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Ten percent of Czech residential projects now fulfill passive home standards

Feb 15, 2016 11:07 am
More than 1,600 homes in the Czech Republic fufill the requirements to be labelled ‘passive homes’. Czechs are increasingly interested in these energy saving investments as the idea of passive energy design moves into the mainstream. According to a report by the Passive Home Center, roughly 10 percent of all new family homes are being built to this standard. The center’s...
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Villa Prime Hotel opens in Famalicão

Feb 15, 2016 11:05 am
A new hotel has opened in the Portuguese city of Famalicão, following a €1m investment on Barão da Trovisqueira Street. The 10-room hotel project was a first for its investors -- Catarina Silva, Tiago Pimenta and Sílvia Pimenta -- who had no previous experience in the hospitality sector. The hotel also offers a restaurant and a wine bar that are open to the public....
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Glorient Investment completing 2nd building at East Ring Logistic Park

Feb 15, 2016 11:00 am
The second building of East Ring Logistic Park, a project developed by Glorient Investment BG Ltd, is set for completion by the end of March. East Ring Logistic Park is located in a traditional industrial area near Sofia, between the two entry-exit highways Hemus and Trakia. The developer plans to complete the park, which covers an area of over 200,000 sqm by 2020. It...
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Property deals in Sofia up 9% in January

Feb 15, 2016 11:00 am
Sales on Sofia’s property market were up 9 percent y-o-y in January, according to data published by the registry agency. The biggest growth was reported in transactions involving land plots and individual units in a building (apartments, shops, etc.), while purchases of entire buildings (residential and commercial) fell last month. There were 24,379 deals completed in...
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Bulgarian GDP up 3.1% y-o-y in 2015

Feb 15, 2016 10:59 am
Bulgaria’s GDP increased by 3.1 percent y-o-y to €12.2bn in the last quarter of 2015, according the National Statistical Institute (NSI). Compared to Q3 2015, the growth was just 0.8 percent. Consumption in the last quarter of 2015 increased by 0.7 percent compared to Q3 and 2.5 percent compared to Q4 2014. Exports of goods and services increased by 0.7 percent in 2015,...
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Profi opens two stores in Alba, Brasov

Feb 15, 2016 10:59 am
Profi opened two new stores in Blaj (Alba county) and Feldioara (Brasov County), pushing its Romanian network to 373 locations. The store in Blaj covers 780 sqm, while the one in Feldioara covers 338 sqm. The retailer operates 11 stores in nine towns in Alba County and 13 stores in six localities in Brasov County....
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INS: Consumer prices fell 2.1% in January

Feb 15, 2016 10:58 am
Consumer prices on the Romanian market fell by 2.1 percent y-o-y in January, according to recent data published by the National Statistics Institute. The prices on more than 53 percent of goods and services decreased last month. Food prices fell by 6.3 percent y-o-y, but prices on non-food products increased by 0.1 percent and service tariffs were up by 1.2 percent,...
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Bidders for new Pardubice airport terminal given till March

Feb 15, 2016 10:48 am
East Bohemian Airport has extended the deadline for construction companies to submit bids for the construction of a new passenger terminal at the Pardubice airport. The CZK 300m project can now be bid upon until March 1. The company’s management explained the move by saying that the bids they’d received included a number of follow-up questions and said that the new deadline...
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Publity to acquire Areva HQ in Erlangen

Feb 15, 2016 10:43 am
Publity has purchased the German headquarters in Erlangen of Areva SA, a French-based company that offers technological solutions for nuclear power generation.The building is located on Paul-Gossen Strasse and comprises four sections which offer 47,000 sqm of usable space as well as a garage totaling 631 parking spots. The property is occupied on a long-term lease to Areva...
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Attila Chikán named president of BCSDH

Feb 15, 2016 10:40 am
Attila Chikán was elected president of the Business Council for Sustainable Development in Hungary (BCSDH). The position is for a three-year term. Chikán replaces István Salgó, CEO of ING Bank, who will assist BCSDH as an honorary president, according to market sources. Founded in 1992, Business Council for Sustainable Development works with more than 200 companies in more...
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Forever 21 to expand in Poland this year

Feb 15, 2016 09:59 am
Having entered the Polish market at the end of last year, the US retail Forever 21 will be expanding it chain in Poland this year, through its European franchise partner, Teren Management Europe. Although no further details were disclosed at this stage, Teren has selected Cushman & Wakefield to advise on its Polish expansion in which it’s looking for units of between...
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Czarnecki to develop offices near PZU’s Wrocław HQ

Feb 15, 2016 09:58 am
Yet another office building is to go up on Komandorska street in the city of Wrocław, near the headquarters of Poland’s top insurer PZU. The local media is reporting that the Polish businessman Leszek Czarnecki, owner of the development company LC Corp, recently revised his plans for the plot. It had been thought that a hotel would be built on the site until this news...
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Art-Invest to redevelop Munich office building as a Ruby hotel

Feb 15, 2016 09:20 am
Art-Invest Real Estate has acquired the office building located at Dachauer Strasse in Munich from a German based real estate company. Art-Invest bought the investment for the Hotel Manage to Core fund and is planning to redevelop it as a Ruby Hotels & Resorts design hotel. The 174-room hotel would be the first in Germany for this chain run by the entrepreneur Michael...
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Eldorado plans 50 new stores in Russia in 2016

Feb 12, 2016 11:40 pm
Eldorado, the Russian household appliances and electronics chain, intends to open 50 new stores in 2016. At the beginning of July 2015, the retailer managed 384 hypermarkets, 20 of which were opened in 2015. The cost of opening a new facility can be RUB 20-30m. Eldorado's shareholder PPF has allocated RUB 7.3bn for the group's expansion. Denis Kolokol'nikov...
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Boynton Beach's Heron Pointe Apartments sell for $26.69m

Feb 12, 2016 03:47 pm
The Heron Pointe Apartments near Boynton Beach has been sold for $26.69 million to Dallas-based Highland Capital Management. The buyer assumed a $20 million, Freddie Mac-based mortgage from Berkadia Commercial Mortgage. The 192-unit complex at 10010 and 10492 Boynton Place Circle, traded for $139,010 per unit. Built in 1989 on a 12-acre site, the seller, Equity Residential,...
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Carter begins residential tower construction in Tampa

Feb 12, 2016 03:45 pm
The Atlanta developer, Carter, has broken ground on downtown Tampa's newest residential tower. Located on North Franklin Street, the mixed use property will include 362 apartments and 8,000 square feet of retail space on 23 stories. Amenities will also include an eight-story, 460-space parking garage building that also offers a pool, garden area and club room. Carter...
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