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Posts from CIJ for 04/12/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 04/12/2016

Passenger volume up 13% for Tallinn Port in March

Apr 12, 2016 12:14 pm
Passenger numbers up by 13.3 percent y-o-y at Tallinn Port in March. Estonia’s state-owned port reported 741,099 passengers for the month, with the majority (651,195 or 87 percent of the total) on the Tallinn-Helsinki route. Those traveling between Tallinn and Stockholm made up 12 percent of the volume, while the Tallinn-St. sburg route accounted for 1 percent of the...
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Warsaw’s city hall bills Russian Embassy PLN 9m

Apr 12, 2016 11:48 am
Warsaw’s district court postponed proceedings against the Russian Embassy on Monday indefinitely, after the city hall billed the Russians for nearly PLN 9m for using its building in Warsaw at Bobrowieckiej 2b between 2009 and 2015. It’s the third claim submitted by the city against Russians by the city of Warsaw concerning alleged illegal use of the city’s properties. The...
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Latvia’s foreign trade turnover up 10.8%

Apr 12, 2016 11:45 am
Foreign trade turnover on the Latvian market increased by 10.3 percent in February compared to the previous month, according to provisional data released by the Central Statistical Bureau (CSB). Exports were up 9.5 percent, while imports rose by 11.8 percent. Latvia exported €778.5m worth of goods and imported €918m worth of goods for the month. Wood exports were up 19.4...
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FHL Bjorn to expand Hungarian base in Mór

Apr 12, 2016 11:14 am
Hungarian automotive parts supplier FHL Bjorn is expanding its base in Mór. Costs are estimated to hit HUF 950m and will be covered in part by a HUF 427m grant from the European Union. The completion date has not been announced. Following the expansion, the company is planning to hire more employees and strengthen its capacity. Bjorn is a direct supplier of the Volkswagen...
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Poland’s small businesses expanding labor force

Apr 12, 2016 11:14 am
Poland’s small and medium-sized businesses will be expanding their labor force this year, according to the daily Gazeta Polska Codziennie, which cities the most recent figures from Business Institute Research and Analysts center. It found that 13.3 percent of Polish entrepreneurs intend to hire new employees during 2016, while 76.4 percent say they plan no lay offs in the...
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Building permits up 48.2% in February in Macedonia

Apr 12, 2016 11:03 am
A total of 335 building permits were issued on the Macedonian market in February, up 48.2 percent y-o-y, according to data published by the State Statistical Office. Of the total number of issued permits, 197 (58.8 percent) were for buildings, 39 (11.6 percent) were for civil engineering structures, and 99 (29.6 percent) were for reconstructions. Nearly 60 percent of...
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Tigar Tyres opens new production facility in Free Zone Pirot

Apr 12, 2016 11:02 am
Tigar Tyres, the Serbian subsidiary of Michelin Group, opened a new mixing mill in Free Zone Pirot, an industrial zone in southeastern Serbia. The new €215m mill will allow the factory the company is already operating in the area to run at full capacity and produce 12 million passenger tires a year. The opening ceremony was attended by Gary Scheide, the head of Michelin...
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Seke to build a tobacco production plant in Krusevo

Apr 12, 2016 11:02 am
Seke plans to build a new tobacco processing plant in the Krusevo industrial zone in central Macedonia. The Greek company acquired a 4 ha parcel in the zone. “The Krusevo region is one of the major production regions for tobacco. There are plenty of professionals who have worked and are working with tobacco. It is a region that is quite acceptable to us for investment....
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Industry turnover up by 6.6% in February

Apr 12, 2016 11:01 am
Industrial turnover increased by 11.9 percent m-o-m and by 6.6 percent y-o-y in February, according to data published by Romania’s National Institute of Statistics. In the first two months of the year, turnover in industry per total (domestic and external market) increased by 2.2 percent y-o-y thanks to a 3.1-percent rise in manufacturing.. Mining and quarrying, on the...
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Sanex investing €1.4m in Cluj-Napoca factory

Apr 12, 2016 11:01 am
Ceramic tile producer Sanex is investing €1.4m to upgrade its plant in Cluj-Napoca. The project will be funded through the Norwegian Financial Mechanism 2009-2014. The company is planning to install an atomizer at the plant, which will help reduce gas consumption and protect the environment. Sanex Romania was established in 1970. In 2004, the company was integrated into...
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Olympia Brno put on the market

Apr 12, 2016 10:48 am
ECE and Rockspring have put the Olympia Brno shopping center on the market. The owners believe they can find a buyer willing to pay €350m for the shopping center located on the edge of the city of Brno. Rockspring and ECE both have a 50 percent share in the center. The daily Hospodářské noviny quotes Jan Kotrbáček, head of retail at Cushman & Wakefield, who says that...
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FM and real estate leaders launch landmark collaboration to unify the FM profession across the globe

Apr 12, 2016 10:47 am
The International Facility Management Association (IFMA) and the Royal Institution of Chartered Surveyors (RICS) announced today a landmark collaboration which promises to transform the US$1 trillion global facility management (FM) industry. By joining strategic resources, they will create an unprecedented level of industry support to meet growing demands from the 25...
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Generali fund buys UniCredit building in Prague 1

Apr 12, 2016 10:43 am
Generali’s real estate fund has acquired UniCredit bank’s headquarters at nám. Republiky in Prague 1. Generali paid CZK 790m for the 5,500 sqm building, according to market sources. The deal is a sale-and-lease-back transaction, as the bank is contracted to lease the space for at least another ten years. UniCredit spokesman Petr Plocek told the server that the...
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The Fladgate Partnership acquires Hotel Infante Sagres

Apr 12, 2016 10:00 am
The Fladgate Partnership group has acquired the Hotel Infante Sagres in the city of Porto. The group, which owns the wine houses of Porto Taylor's, Fonseca, Croft and Crohn's is planning a series of investments to ensure that the hotel retains its status as one of the best 5-star hotels in the city, but it hasn't released the volume of these improvements yet....
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Jupiter Hotel Marina rises over old cannery

Apr 12, 2016 09:59 am
The city of Portimão, in Algarve, will have a new hotel by 2017. The Jupiter Marina Hotel, a 4-star hotel, is being built on the former Facho factory grounds and will offer 150 rooms, including six south-facing suites overlooking the Arade river. The hotel will have a terrace with pool, a bar, a fitness center and spa, a restaurant serving regional and international cuisine...
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Investment in Portuguese housing will grow this year

Apr 12, 2016 09:56 am
Portuguese and international investors will be dedicating greater volumes of funds to the country's housing stock in the coming year, according to recent projections by Banco de Portugal (Bank of Portugal). The investors will be reacting to increasing levels of disposable income among Portuguese along with demand created by the labor market, according to the...
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US leading investment in Portuguese real estate

Apr 12, 2016 09:55 am
A remarkable 92 percent of the real estate investment taking place in Portugal is of foreign origin, with US investors leading the way with 43 percent of all investment, which is 11 percent of their closest rivals from Spain. According to a new report of B.Prime consultant, this increased interest in real estate assets by US investors is being repeated around Europe. The...
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Jarabiny residential project revived in Bratislava, without Váhostav

Apr 12, 2016 09:55 am
Sibareal plans to re-start works on the Jarabiny residential project in the Bratislava Ružinov district. The original developer, Atlas Real, put the project on hold during the financial crisis in 2009. The contractor, Váhostav, revived and redesigned the project in the post-crisis period but its plans also came to a halt when Váhostav itself went into a restructuring...
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CBRE GI acquires Spanish logistics portfolio

Apr 12, 2016 09:53 am
CBRE Global Investors has completed the purchase of a Spanish logistics portfolio for one of its separate account clients. The package includes 16 properties located between Madrid and Barcelona. The vendors are Metrovacesa and Parques Intermodales Gran Europa. The properties are leased to 10 logistics operators, including DSV, Luis Simoes, FM Logistics, XPO and Logiters,...
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Prologis developing speculative logistics facility in Hungary

Apr 12, 2016 09:43 am
Prologis has started developing a 21,000 sqm facility located at Prologis Park Sziget-Budapest. The new investment is the first speculative logistics building on the Hungarian market since 2008, according to Prologis. Building 7 will include a pioneering docking system with 46 docks and three drive–in gates, guaranteeing energy efficiency and cost-effective operations....
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