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Posts from CIJ for 03/07/2016

Daily Commercial Real Estate News for CEE
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In this edition: 03/07/2016

Special economic zone planned for eastern Latvia

Mar 07, 2016 11:37 am
In an effort to help usher in jobs and new investments, the Latvian Ministry for Environment and Regional Development wants to create a special economic zone in the eastern part of the country. The Latgale Special Economic Zone (SEZ) could include public and private properties, however privately owned land would only account for 30 percent of the zone’s total area, the...
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Krych: Redefine deal for Echo a real win-win

Mar 07, 2016 11:25 am
In what’s sure to be one of the top investment transactions on the European market, and the biggest-ever deal for Poland’s property market, the South African REIT Redefine Property took a 75 percent stake in Echo Investment’s standing portfolio for €1.2bn. The seller, Pimco-backed Griffin Real Estate is keeping its 25-percent share in the high-yield portfolio. “Keeping the...
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IPEC building office for Chinese investors in Senec

Mar 07, 2016 11:11 am
IPEC Group is to start construction of offices for the Chinese investor Jiangsu Weitian Chemical Group at its project D1 Park in Senec. IPEC owns land in the park and has been developing an outlet center as part of the scheme. Ivan Čarnogurský, director of the company, says that the Chinese investor will buy the offices and use them for its European headquarters. Jiangsu...
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Jumbo to open two more stores in Bulgaria

Mar 07, 2016 11:09 am
The Greek toy retailer Jumbo announced it will open two more stores in Bulgaria. The company currently operates eight stores in the country: four in Sofia and one each in Plovdiv, Varna, Burgas and Ruse. Jumbo Bulgaria reported €32.5m in revenue and a net profit of €10.1m in H2 2015. The company opened its first store in Sofia at the end of 2007. It has an area of 15,000...
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M San Grupa to invest €600,000 in new Croatian plant

Mar 07, 2016 11:08 am
In a €600,000 investment, the LED TV producer M San Grupa is planning to build a new plant in Rugvica, east of Zagreb. “The capacity of the production line is 180,000 sets annually,” said Katarina Halar, a senior executive at M San Groupa. Founded in 1995, M San Grupa produces and distributes modern TV technologies to SEE countries and other EU states. The company...
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Bulgarian military building reconstruction due by November

Mar 07, 2016 11:08 am
The building Military NDK (the Military National Palace of Culture), which went under reconstruction works several years ago will be completed by November, declared the Bulgarian Prime Minister Boyko Borisov, who was inspecting construction work on site. The eight storey building was originally designed to serve as the National Army Complex of the Ministry of Defence,...
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Hilton to open first Romanian Hilton Garden Inn hotel in 2017

Mar 07, 2016 11:07 am
Hilton Worldwide will open its first Hilton Garden Inn hotel in Romania in 2017. The new 201-room hotel is being built in a historical building in Bucharest’s old town. “In terms of design, the Hilton Garden Inn Bucharest Old Town follows a strategy that we are developing with great success in several European cities, including Moscow, Paris, London and Szczecin, that of...
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DHM expanding its hotel presence in Portugal

Mar 07, 2016 11:03 am
Discovery Fund Portugal (DHM), will open a new hotel in Santiago do Cacém, Alentejo. The information was revealed in the Tourism Fair of Lisbon by Ricardo Roquette, director of Marketing and Communication of DHM. The company is increasing its investments in Portugal as seen in its opening of Azor Hotel planned for May as this represents an investment of €9m. The Azor...
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Decathlon profitable again in Czech Republic

Mar 07, 2016 11:02 am
ecathlon’s Czech operations moved back into profitability in the Czech Republic in 2014, having nearly doubled its turnover. The French sport retailer has reported CZK 56m in profit in 2014, while it was CZK 77m in loss a year before. Revenues jumped 45 percent y-o-y to CZK 751m. The company has entered the Czech Republic in 2011. It operates nine stores with a 158 staff in...
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Investment on Czech market driven by US, German companies

Mar 07, 2016 10:57 am
Property investment in the Czech Republic was driven by the US, German and Czech investors, which contributed 32, 22 and 21 percent of the total 2015 volume respectively, according to CBRE. German and US investors also accounted for 53 percent of the overall investment volume in the CEE region, which increased to €9.9bn, up 25 percent y-o-y in 2015. Investment on the Czech...
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Penta plans PLN 50m restructuring of EM&F

Mar 07, 2016 10:57 am
Having increased its holding in Empik Media & Fashion group to nearly 50 percent, Penta Investment, along with a Slovak partner, is buying the remaining shares in the group. Speaking with the Polish Press Agency PAP, Thomas von Werner, head of investments of Penta Investments said his company is planning to invest between PLN 45m and PLN 50m restructuring the group...
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Bosch and the University of Minho conclude €55m research program

Mar 07, 2016 10:55 am
Bosch and the University of Minho has concluded a new €55m research and development agreement (R&D) that will take them through 2018. The R&D project carried out jointly by Bosch Car Multimedia Portugal and the University of Minho is of national strategi interest and will result in the hiring of more than 90 engineers and 170 fellows. The project aims to develop...
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Lisbon ranks 5th among European cities for living and investing

Mar 07, 2016 10:53 am
Lisbon is considered the fifth best European city to invest and live in, after Istanbul, Madrid, Barcelona and Milan, according to the Financial Times’ ranking "European Cities and Regions of the Future 2016-2017.” "We feel very flattered by the award given by the Financial Times to the Lisbon strategy in the fields of investment attraction, business and...
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Wabererʼs International launches German subsidiary

Mar 07, 2016 10:15 am
Wabererʼs International, a Hungarian haulage company, has started operations at its new German subsidiary. The company’s revenue on the German market grew by 18 percent last year and accounted for one-third of its total turnover. The company also has units in France, the Netherlands, Italy, Poland, Romania, Slovakia and the UK.
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CTP building distribution center for Lidl

Mar 07, 2016 10:08 am
The German retail chain Lidl is planning to launch a logistics and e-commerce facility in a refurbished existing building at CTPark Plzen. The facility plus an extension will cover 30,000 sqm of space. Construction is set to get underway this week and the facility is scheduled for full operation by the end of the year. Other recent deals at the park include a 10,000 sqm...
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Nordex to expand headquarters in Hamburg

Mar 07, 2016 10:06 am
Wind turbine manufacturer Nordex is planning to expand its headquarters in Hamburg's Langenhorn district by 13,000 sqm. The new building will go up on a site adjacent to the existing headquarters that was acquired from the city for €4m. The existing building offers 15,000 sqm of office space and was sold before its completion five years ago to Swiss Life. Negotiations...
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Skolkovo multi-modal hub planned outside Moscow

Mar 05, 2016 10:17 pm
A multi-modal transport hub will be built in the Skolkovo innovation center in the Moscow region. It will be a part of a complex with theater, showroom, and a hotel. The new transportation hub will be a key infrastructure point for the entire municipality of Skolkovo. The main construction work involved in the project will be a covered elevated pedestrian crossing, which...
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Children's World opens second store in Sterlitamak

Mar 05, 2016 09:50 pm
The kids retailer Children’s World, has taken 1,000 sqm in the City Mall shopping center in the Bashkir city Sterlitamak. It's the second Children's World opened in the city, but it's opened under a new retail concept the brand has introduced with updated equipment, new standards of merchandising, and design.The Children's World network is the largest of...
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Allegra Tribeca acquires Plantation Fresh Market

Mar 04, 2016 04:36 pm
The building Fresh Market occupies in Plantation has been sold to a New York firm for $10.9 million. Allegra Tribeca purchased the 25,021 square-foot building located at 12171 W. Sunrise Blvd for just under $435 per square foot. Originally a Borders Books store, the property was built in 1998 on a 2.4 acre site. The seller, IMOB Investments, managed by Maurice Egozi in Bay...
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Two Florida cities in top 10 nationally for home remodeling

Mar 04, 2016 04:34 pm
According to a report from BuildFax, Florida has two cities ranked in the top 10 for residential remodeling in the United States. Ranking were compiled by using construction records with more than 23 billion data points, including number of residential remodeling projects per household, Orlando ranked number two in the country with Tampa coming in at sixth. Topping the list...
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