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Posts from CIJ for 03/23/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 03/23/2016

Swedbank’s takeover of Danske Bank retail business approved

Mar 23, 2016 11:39 am
Swedbank’s takeover of Danske Bank’s retail banking business has been approved by the Lithuanian Competition Council. The price of the deal was not disclosed. However, the loan portfolio totals roughly €484m. The takeover will impact more than 86,000 Danske Bank customers in Lithuania. Gintautas Galvanauskas, CEO of Danske Bank, said the lender will focus on business and...
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Apartment sales in Riga down 12% in 2015

Mar 23, 2016 11:30 am
Apartment transactions in Riga fell by 12 percent in 2015, according to a report published by the real estate company Latio. Prices also saw an overall drop of 22 percent, an €80m to €100m y-o-y loss for the market, the figures show. The decreases were attributed to a fall in foreign demand and a weak Russian ruble. Changes to the country’s immigration law also impacted...
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Czech police detain six in railway tender manipulation sting operation

Mar 23, 2016 11:27 am
Six people were detained during yesterday’s raid by anticorruption police in Prague at the Czech transport ministry, the state railway operator, and three project and construction companies. The server reports that police charged six people and three companies involved in public tenders for railway construction projects. Police reportedly detained former deputy...
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Práce na projektu Bezručova Residence začaly

Mar 23, 2016 11:21 am
Bezručova Invest zahájil přípravu pozemku na kterém plánuje postavit luxusní bytový projekt Bezručova Residence. Developer projekt staví pro realitní fond Poštové banky. Komplex vyroste v bratislavském Starém městě. Prodej 78 bytů v první etapě zahájili v listopadu a před zahájením prací na pozemku se prodala zhruba třetina. Apartmány o rozloze 25 až 156 metrů čtverečních...
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JetGas to expand LNG station network in Estonia

Mar 23, 2016 11:11 am
JetGas OU plans to build two or three more liquefied natural gas (LNG) stations in Estonia this year. The company already operates five LNG stations in the country. JetGas has secured a permit to build a station in Paide, while planning has started for a station in Haapsalu, Janek Parkman, a company board members, told the Baltic News Service. Each station is expected to...
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Chinese e-shops to serve German market from Prague

Mar 23, 2016 11:10 am
Two Chinese e-shops selling fashion, CNDirect and Dress Link, plan to serve their customers in Germany from a new distribution center near the Prague airport. The company’s logistics provider Linemart (owned by the Chinese internet company Shenzhen Sailvan Network) has leased 18,000 sqm of warehouse space from Prologis in the Prologis Park Prague-Airport. Linemart plans to...
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Kruk Romania opens new office in Targoviste

Mar 23, 2016 11:04 am
Polish credit collection agency Kruk opened a new office in Targoviste. The 4,200 sqm building has four floors and is situated in the city center. The first three floors provide open office space, while the fourth floor has meeting rooms, a relaxation area and a dining room. Kruk entered the Romanian market in 2007. The company's customers includes banks, leasing...
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Regina Maria takes over Ponderas Hospital

Mar 23, 2016 10:59 am
Private healthcare provider Regina Maria is planning to take over the Ponderas Hospital in Bucharest. The 9,000 sqm hospital is set to become the largest property in Regina Maria’s network. Ponderas Hospital, which is operated by Delta Health Care Ltd, posted a €16.1m turnover last year. Regina Maria has the largest private healthcare network in Romania, including 19...
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Poly Technologies interested in investing in Zadar, Croatia

Mar 23, 2016 10:59 am
Representatives of the Chinese company Poly Technologies visited the Croatian city of Zadar along the Dalmatian coast. They were there to listen to presentations about four potential investment projects the city is promoting: completion of a passenger-cargo terminal at the port of Gaženica; undersea tunnel construction projects; the development of the Crno business zone;...
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“The Seagull” kindergarten in Plovdiv to open in September

Mar 23, 2016 10:58 am
The construction of a new kindergarten called “The Seagull” should be completed in September according to the Mayor of Plovdiv Ivan Totev. He visited the site of the project together with Deputy Mayor Dimitar Katsarski. The project is costing the town €1.8m, while another €204,000 will be spent on furniture and equipment for the kindergarten. It was designed by Cobb Project...
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Nia Home completes construction of 100 Residence in Sofia

Mar 23, 2016 10:57 am
The Bulgarian real estate company Nia Home has completed construction of a multipurpose building called 100 Residence, located near the center of Sofia. The architectural design was prepared by Ivo Petrov Architects, while the construction was entrusted to Barage Group. The 4,160 sqm building includes offices on the second and third floors, residential, shops and...
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Griffin raises PLN 147m thru bond issue to expand student housing chain

Mar 23, 2016 10:48 am
Griffin Real Estate has issued PLN 147m in bonds on the Warsaw Catalyst market, marking its first-ever foray into the country’s capital markets. “The vast majority of the funds from this emission will be used to expand our student housing chain,” said Maciej Dyjas, Co-CEO Griffin Real Estate. The company had just announced its acquisition Duet, a student housing project...
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Mercedes plans €250m investment in Kecskemét

Mar 23, 2016 10:27 am
German carmaker Daimler is planning to invest €250m on new technology and the expansion of its plant in Kecskemet, bringing its total investment in Hungary to €1.3bn. The new chassis production hall will produce next-generation compact car bodies using the newly procured technology. The Kecskemét plant will work in close cooperation with its sister plant in Germany located...
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Work starts on Bezručova Residence in Bratislava

Mar 23, 2016 10:23 am
Bezručova Invest started groundwork on the site of its planned high-end residential complex Bezručova Residence. The developer is building the project for a property fund connected to Poštova banka. The complex is to go up in Bratislava’s Old Town. Sales of the 78 flats were launched in November and interest in the project has resulted in the sale of one-third of the units....
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Global consultation opens to create the sector’s first global ethics standard

Mar 23, 2016 09:58 am
60+ Land, property and construction professional bodies unite to create combined International Ethics Standards A coalition of more than 60 professional bodies and standards setting organisations worldwide, including RICS (The Royal Institution of Chartered Surveyors) launch a global consultation on ethics principles for those working in land, property, construction and...
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Intel buys its research and development center in Gdańsk from Allcon

Mar 23, 2016 09:58 am
Intel Technology Poland (ITP) took over Allcon@park office park in Gdańsk from the local developer Allcon Investment, ISBNews reports. The value of the transaction was not disclosed. Intel has taken over all five of the office buildings that make up the complex. Cushman & Wakefield represented Intel in the deal. ITP has occupied the building since 1999, employing...
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Trans Adriatic Pipeline construction to begin in mid-2016

Mar 23, 2016 09:47 am
Construction of the Trans Adriatic Pipeline (TAP) in Greece is expected to begin in the middle of 2016 according to Rickard Skoufias, TAP's Project Director. Speaking yesterday at an energy conference in Athens, he said the pipeline would run from the Turkish border to Italy via Albania and the Adriatic sea. The consortium behind the project has signed partnerships...
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Bank of Greece governor blames tough times on mismanagement, not austerity

Mar 23, 2016 09:44 am
The crisis in Greece was not been caused by austerity measures, according to Bank of Greece governor Yannis Stournaras, but rather by an unjustifiably expansive fiscal policy. Speaking at an event organized by the 'Citizens' Movement’ he warned that today's economic hardship were caused by poor management in the last decade. Irresponsible policies, he...
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Eldorado Gold gets license for Olympias mine project in Greece

Mar 23, 2016 09:40 am
The Canadian mining company Eldorado Gold has acquired a license from Greece’s environment and energy ministry for its Olympias mine project, the second one it will operate in Halkidiki along with the Skouries mine. The Vancouver-based miner had been in a dispute with the Greek government over plans to develop gold mines in a forested area in northern Greece, as Athens...
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Prado museum holds architectural competition for Hall of Realms renovation

Mar 23, 2016 09:39 am
Madrid's Museo del Prado is planning to launch an international architectural competition to restore its recently acquired Hall of Realms. Prado will select eight finalists who will submit a proposal of how to redesign the interior so it can better serve as gallery space that can hold exhibitions of the museum’s Spanish historic and artistic collections. The facility...
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