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Posts from CIJ for 04/15/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 04/15/2016

RE investment volume in Baltics hits record €1.38bn

Apr 15, 2016 12:21 pm
The real estate investment volume for Estonia, Lithuania and Latvia hit an all-time high of €1.38bn in 2015, up 62 percent from the previous year’s total, according to a new report from Colliers International. Estonia posted an investment volume of €544m, while RE investments in Lithuania increased by 49 percent to €444m and Latvia posted €394m, up 25 percent y-o-y....
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Schaeffler investing HUF 25bn in Debrecen plant

Apr 15, 2016 11:20 am
An affiliate of the Schaeffler Group is planning to invest HUF 25bn to expand its Hungarian plant in Debrecen. According to market sources, the Hungarian government will cover HUF 4.5bn of the project costs. The plant will be equipped with new technologies and will create 510 jobs. Completion is scheduled for the end of the year....
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University in Brno opening private business-oriented college

Apr 15, 2016 11:15 am
Masaryk university in Brno in the Czech Republic plans to establish a private business college that would offer a new model of education closely connected to real life in the private sector. The students would spent two days at school and three days at work. Masaryk university is working on the concept in cooperation with the Regional Economic Chamber in Brno and local...
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IMF forecasts 2.3% growth for Bulgarian economy

Apr 15, 2016 11:05 am
The International Monetary Fund is predicting the Bulgarian economy will grow by 2.3 percent in 2016 and 2017. This places Bulgaria below the average growth in the region, which is forecasted to hit 3.5 percent in 2016 and 3.3 percent in 2017, according to the IMF report. The country’s unemployment rate is expected to decrease to 8.6 percent in 2016 from 9.2 percent in...
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Renovated Praktiker hypermarket in Ruse reopens

Apr 15, 2016 11:04 am
Renovation work on the Praktiker hypermarket in Ruse, northern Bulgaria, has been completed. The DIY store’s home and garden section has been expanded and will offer more than 40,000 products. MSK AD oversaw the renovation and modernization. Ruse Mayor Plamen Stoilov and Todor Belchev, the chairman of Videolux Holding, the company that acquired Praktiker’s Bulgarian...
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Invista sells PLN 5m Warsaw CBD development plot

Apr 15, 2016 11:03 am
Invista has sealed a deal for the sale of of a property it owned in the city center of Warsaw, at Emilii Plater street with an undisclosed buyer. Worth PLN 5m, the plot lacks any zoning, but it’s expected that an office building will be built on it. The 900 sqm site has an old tenement house on it. Originally, Invista was planning to develop an office and resi scheme on the...
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Electric Plus invests €7m in new Bacau factory

Apr 15, 2016 11:03 am
Electric Plus, owner of windows manufacturer Barrier, opened a new factory that produces insulating glass as well as a production hall for residential and industrial sectional doors and roller shutters in Bacau. Project costs hit €7m. Construction started in 2014 and lasted 18 months. “The investment that we inaugurate today concludes the first developing cycle of our...
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Profits for Lithuanian airports up 74% in 2015

Apr 15, 2016 11:03 am
Lietuvos Oro Uostai, which manages Lithuania's three international airports, reported a 74-percent y-o-y increase in profits in 2015. The state-owned company said it netted a profit of €2.1m last year. Revenues came in at €24.5m, up 12 percent from 2014. Aviation operations generated €15.3m, up 10 percent y-o-y. The passenger volume at all the airports in Vilnius,...
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Romanian construction volume up 8.7% in February

Apr 15, 2016 11:02 am
The construction volume on the Romanian market was up by 8.7 percent y-o-y in February, according to the latest statistics. The sector also reported a 32.7 percent m-o-m jump. New construction works were up by 39.3 percent, while capital repairs increased by 36 percent and maintenance and repair work rose by 14.8 percent. Non-residential buildings accounted for 45.1...
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CSC joins Avast in Enterprise Office Center by EGI

Apr 15, 2016 10:56 am
The IT company CSC Computer Sciences will relocate to Enterprise Office Center in Prague 4 Pankrác. The complex, completed last year by Erste Group Immorent, will accommodate nearly 1,500 IT experts, as CSC joins Avast, which is already a tenant in Enterprise. Avast moved its 650 staff into the building recently, while CSC will bring together 800 employees that are...
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Vítkovice building Terminal Shopping Center in Banská Bystrica

Apr 15, 2016 10:06 am
Vítkovice Machinery Group plans to build bus terminal and a shopping center in Banská Bystrica, Slovakia for Primum, a member of the InterCora group. Terminal Shopping Center will replace the city’s run-down bus station. The construction will cost CZK 400m, with Vítkovice Revmont and Vítkovice Slovakia of the VMG group overseeing construction. The bus station is located by...
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DCN to build EU’s tallest skyscraper

Apr 15, 2016 09:50 am
Spanish developer Distrito Castellana Norte (DCN) is planning to build the tallest skyscraper in the European Union. The company’s flagship project will be located in Madrid’s Chamartin district and will be part of a larger six-tower complex. The project has not yet been granted an official municipal licence yet, but according to market sources, the plan only needs approval...
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JLL appoints Enrique Losantos as Managing Director for Spain market

Apr 15, 2016 09:18 am
Enrique Losantos has been named the new Managing Director for Spain. In his new role, Enrique will lead the firm in adding new advisory services to its core investor services, as well as offering corporate clients comprehensive services. Prior to this, he had served as director of JLL’s Investor Business in Spain since April 2015. He began his career at Societe Generale...
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Tektónica 2016 sees 30% growth in number of exhibitors

Apr 15, 2016 08:42 am
The Tektónica 2016 fair, which runs from May 4 to 7 at FIL in Lisbon, recorded a 30 percent increase in the number of companies present compared to 2015. The largest Portuguese trade show for the construction and public works sector, organized by AIP Foundation, has confirmed attendance of buyers from Spain, France, Germany, Italy, Morocco, Colombia, Angola, Mozambique,...
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Social Security office puts central Lisbon real estate on sale

Apr 15, 2016 08:41 am
The Portuguese Social Security office is to auction off some commercially attractive properties located in a prime site in the city of Lisbon. The mix of buildings and plots are located on Entrecampos Street. The minimum bid value has been set at €7.274m. The 'lot' consists of four buildings (three facades for Entrecampos Street and República Avenue) and three...
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New rehabilitation fund targets renovation of 7,500 homes

Apr 15, 2016 08:39 am
The new National Fund for Rehabilitation of Built (FNRE) will offer €1.4bn from the Financial Stabilization Fund of Social Security (FEFSS) for the renovation of 7,500 buildings by 2027. Only four cities have joined the initiative - Lisbon, Porto, Coimbra and Vila Real, though cities throughout the country are eligible. "The aim is to rehabilitate 1 million sqm of...
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DBH Poland, 14th April 2016 – Sponsored by Panattoni Europe

Apr 15, 2016 08:34 am
Another great night with Panattoni Europe staff and clients. We would like to thank all who attended and look forward to another evening with Panattoni Europe soon. About Panattoni Europe. Panattoni Europe is an industrial space developer. As of the beginning of its activity in 2005, they have completed projects totalling more than 2,5 million square meters altogether...
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Sales of Moscow street shops soar 66% in 2016

Apr 15, 2016 12:04 am
Sales of street shops with direct sidewalk access increased 66 percent in Moscow during the first quarter of 2016, compared to the same period last year. A study by Kalinka Group showed that the greatest demand among investors are for shops located in the streets of Petrovka, Ostozhenka, Arbat, Prechistenka, Nikolskaya St. Nicholas, Pokrovsky, and Passion Boulevard. The...
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Culture Park in Moscow becomes Russia 2018 HQ

Apr 14, 2016 11:52 pm
Culture Park on Zubovsky Boulevard in Moscow has become the headquarters for the organizing committee for "Russia 2018" which will be handling the upcoming Football World Cup. The rent that the organization will be paying was not disclosed, but the director of Knight Frank's commercial real estate department, Constantin Losyukov, said that the owner had asked...
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RUB 2bn ​Dutch Village sports complex to be built in Dmitrov, Moscow

Apr 14, 2016 11:41 pm
A sports hotel complex Dutch Village will be built in the Dmitrov district of Moscow region. The volume of investments in the hotel complex project is estimated at RUB 2bn. The project will include hotel buildings, apartments, restaurants, as well as a variety of sports facilities including a swimming pool, climbing wall, bike paths, golf course, volleyball courts, tennis...
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