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Posts from CIJ Europe.com for 04/08/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 04/08/2016

Liebherr adds nearly 40,000 sqm to Trakia Economic Zone

Apr 08, 2016 11:58 am
Equipment manufacturer Liebherr added 38,900 sqm of storage and production space to the Maritza industrial zone, located in Trakia Economic Zone, in the Bulgarian region of Plovdiv. Construction of the facility began in 2015. Liebherr has been operating a 50,000 sqm production facility in the industrial zone since 2000. The Liebherr Group is based in Switzerland. It has...
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Croatia’s GDP up by 1.9% in 2015

Apr 08, 2016 11:58 am
Croatia’s GDP grew by 1.9 percent y-o-y in Q4 2015 and by 1.6 percent for the year, according to new data released by the national statistical office (DZS). The final figures were on par with earlier estimates. In December 2015, the Zagreb Institute of Economics (EIZ) forecasted that Croatia’s GDP would have a growth rate of 1.5 percent in 2015....
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SIA Merks to build €4.8m warehouse in Riga

Apr 08, 2016 11:36 am
SIA Merks, the Latvian subsidiary of the construction group Merko Ehitus, is investing €4.8m into the construction of a warehouse in Riga. Completion is set for June 2017. SIA Decco Centers will oversee the design and construction of the complex, which will go up at 6D Katlakalna street. The three-building scheme will include a showroom, offices and storage space. Merko...
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Rolls-Royce opens on Prařížská street in Prague

Apr 08, 2016 11:17 am
Rolls-Royce opened its first store in the Czech Republic on Prague’s top luxury shopping boulevard, Pařížská street. The shop is located in the lobby of the Intercontinental hotel in Prague 1. CarTec, the dealer of the mother group BMW, is licensed to sell Rolls-Royces on the Czech market. Thirteen Rolls-Royce cars were sold in the Czech Republic last year, a jump of 117...
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Major road repairs planned for Latvia highways in 2016

Apr 08, 2016 11:10 am
Latvia’s state-owned road maintenance company Latvijas Valsts Celi is planning to invest €368.7m on 1,200 km worth of road repairs this year. The state will kick in €62m, while capital investments will cover €84m of the costs. The EU will contribute €173.7m, while the remaining €49m will come from local government subsidies. The majority of the funds will go toward repairs...
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Central bank: Estonia's 2015 economic growth slows in 2015

Apr 08, 2016 11:01 am
Estonia's 2015 economic growth was the slowest it’s been in the past six years, the central bank said this week. While domestic sales increased thanks to a rise in the minimum wage, exports took a heavy hit as the economies in neighboring countries weakened. Recent foreign trade data shows that trend continued at the beginning of 2016. The European Central Bank said...
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Czechs sue government over human rights during Chinese president visit

Apr 08, 2016 11:01 am
Outrage in Czech Republic stirred by aggressive police action during the recent visit of the Chinese president Xi Jinping has moved into a new chapter, with a group of politicians and activists filing suit against the government for alleged violations of constitutional and human rights. The group has also criticized steps taken by the Prague City Hall and says it will use...
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Funding for Romania’s First Home subsidies will not be topped up

Apr 08, 2016 10:59 am
Just three months into the new year and the First House government subsidy program for housing and the banks involved in it have nearly exhausted their funds. The demand for mortgage loans has increased greatly in recent months as banks threatened to raise the minimum deposit level consumers need to provide to 40 percent. Banks like BCR, ING, Alpha Bank have already...
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Selgros rolling out smaller store format in Romania

Apr 08, 2016 10:49 am
Selgros has announced that it will open a store in the Alba Iulia mall after opening a store in Targu Mures. The new shop shop in the Alba Iulia mall is to be opened this fall. It will be the second of a new, smaller-sized format. The new units will have an area of 4,000 sqm, compared to 10,000 square meters, which is the size of a standard Selgros store. Selgros Romania...
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Will Fico buy out Carrefour’s debts in Slovakia, too?

Apr 08, 2016 10:27 am
Carrefour is trying to get the Slovak state to wipe off a portion of its debts the way it did for the construction company Váhostav. Slovak Prime minister Robert Fico seems to have set a precedent when he offered that the government pay out a portion of the claims of unsecured creditors of the contractor, which has been in restructuring since last year. The operator of the...
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Nyesa to sell Tryp Macarena hotel

Apr 08, 2016 10:10 am
Nyesa is looking for a buyer for the Tryp Macarena hotel in Seville. The four-star property offers 331 rooms. Nyesa is hoping to net between €40m and €50m. Nyesa Valores Corporación was established in 2008 following the merger of Nyesa and Inbesòs. Its debt, which exceeded €650m at one point, forced it to file for bankruptcy in 2012, but it reached an agreement with its...
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Advent International sells Tinsa to Cinven

Apr 08, 2016 10:04 am
Advent International has agreed to sell its stake in Tinsa, a leading provider of property valuation, analysis and real estate advisory services, to Cinven. The contractual parties have agreed not to disclose the purchase price. However, market sources say that Advent International acquired the firm in 2010 for €100m and speculate that the company could now fetch up to...
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Warburg-HIH taking over Prime Corporate Center at sub-5.3 yield

Apr 08, 2016 09:57 am
Warburg-HIH Invest Real Estate will be taking over Warsaw’s Prime Corporate Center from Golub GetHouse, having just signed a preliminary agreement. The building is fully-let to Raiffeisen Polbank, which signed a 10-year pre-lease for the building. The value of the transaction was not disclosed. Completed last month on Grzybowska street in Warsaw, the 20,900 sqm office...
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Colliers International: boost in Romanian retail market continues in 2016

Apr 08, 2016 09:54 am
Colliers International in Romania has just released its annual report in which it analyses all sectors of commercial real estate market and provides prognosis for the nearest future. Local real estate market will continue the positive evolution, and visible growth is expected for key-segments such as investment, office and industrial markets. The news release with...
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Portuguese generating €160m in start-up investments

Apr 08, 2016 09:33 am
Microsoft's director, João Couto, said that over €160m has been invested in Portuguese start-ups. "We are talking about more than €160m already invested in Portuguese startups. We have over 20 startups that are already very close to reaching $1 million in investments and 40 have already reached $1 million dollars in investment,” said João Couto citing a study of...
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Public space improvement work on Lisbon squares to begin in June

Apr 08, 2016 09:32 am
Thirty public squares will be renovated in Lisbon in the coming months under a new city-led investment designed to improve the urban landscape. Work will begin in June on on República and Fontes Pereira de Melo avenues and also on Santos square and Graça square. Along with improving the squares physically, the investments call for the creation of green spaces and bike...
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Moscow to auction off warehouse and production buildings

Apr 07, 2016 11:34 pm
Moscow is auctioning off 13 commercial buildings with a total area of 53,000 sqm along with all of its shares in JSC Tagansky, a meat processing plant. The initial price that’s been set is RUB 1.61bn. The buildings belong to the State Unitary Enterprise of Moscow. The property includes an administrative and warehouse complex in the Nizhny Novgorod region of Moscow. There...
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Construction of Simferopol’s airport due in 2018

Apr 07, 2016 11:30 pm
The construction of a new airport in Simferopol will cost RUB 50bn, with RUB 30bn of the total needed for work on the main terminal building. An additional RUB 13bn to be spent reconstructing the runway and extending it from 2.7 km to 3.2 km in length. The remainder of the investment will go towards infrastructure renewal. The new airport of Simferopol is expected to be...
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On-line giant Yulmart launches construction across Russia

Apr 07, 2016 11:28 pm
The online retailer Yulmart is seeking financing for the the construction of 12 logistics centers in various regions around Russia. The construction of the new buildings is expected to last until 2021 with a total area of ​​390,000 sqm, with the company estimating the volume of the investment needed to be RUB 19.5bn. The company currently operates 443 order fulfillment...
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New residential complex in New Moscow

Apr 07, 2016 11:23 pm
An LCD office opening of Barkley Honey Valley took place in New Moscow. The total investment in the residential complex is RUB 7.5bn. The sales of residential complex Barkley Honey Valley is in the top 4 biggest sales in the New Moscow. The sales office is 500 sqm, made of stainless steel and covered with a special innovative coating. The sales office also provides a...
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