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Posts from CIJ for 04/18/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 04/18/2016

Neinver to open new shopping center near Barcelona

Apr 18, 2016 11:36 am
Neinver is planning to open a new shopping center in Viladecans, near Barcelona, this fall under its The Style Outlets brand. The investment cost is estimated at more than €80m. Viladecans The Style Outlets is Neinver’s first project in Catalonia and its sixth in Spain. The project will go up in two phases. The first phase will offer 100 retailers on 19,800 sqm and 1,700...
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PPF to rebuild Pařížská 22 into shops and flats

Apr 18, 2016 11:33 am
PPF Group, owned by the Czech billionaire Petr Kellner, is to rebuild one of the historical buildings in the Prague’s high end shopping boulevard Pařížská. PPF plans to refurbish the Pařížská 22 art nouveau building into high end boutiques and apartments according to the server e15. With a valid construction permit at hand, Kellner plans to newest reconstruction on Pařížská...
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Swedbank: Lithuania economy to see biggest growth in 2016

Apr 18, 2016 11:27 am
Lithuania’s economy is expected to grow by 3.3 percent this year, the biggest increase predicted for the Baltic region, according to new data released by Swedbank. The bank, one of the country’s biggest commercial lenders, did not revise its forecast for Lithuania, however analysts did lower their forecasts for the neighboring countries. Estonia’s GDP is now expected to...
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Best Westin’s Cristescu takes over as CEO of Chopin Airport Development

Apr 18, 2016 11:19 am
Gheorghe Marian Cristescu has been appointed the new president of the Chopin Airport Development company. Cristescu has been in charge of Best Western’s operations in Poland and Baltic markets for the past few years. His extensive experience in the hotel development is what helped Cristescu to win the position. Recently, he was involved in remodeling of the Jurata hotel...
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Romanian employment rate hits 66% in 2015

Apr 18, 2016 11:13 am
The 2015 employment rate on the Romanian market for people between the ages of 20 and 64 was 66 percent. The national target is 70 percent. Romania's population between the ages of 20 and 64 was 9.159 million in 2015, of which 8.535 million were employed and 624,000 people were unemployed. The employment rate was higher for men (69.5 percent) than for women (53.2...
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Regina Maria opens €2m imaging center at Bucharest hospital

Apr 18, 2016 11:06 am
Private health care provider Regina Maria invested €2m in a new imaging center at the Euroclinic hospital in Bucharest. Regina Maria currently operates eight imaging centers nationwide. The private healthcare provider said it plans to continue investing in imaging, and its budget for the next period is €4.5m. “The development of the imaging field is a constant concern...
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Siemens to build €76m wind farm in Croatia

Apr 18, 2016 11:05 am
Elektroprivreda HZHB, the power utility arm of Siemens Croatia and Bosnia, is planning to build a €76m wind farm in Croatia. The farm will include 22 wind turbines and will go up near the northwestern town of Tomislavgrad. The project will be financed through a loan from the German state-owned development bank KfW and is set for completion in 2018. The first turbines...
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Industrial prices in Macedonia down 4.4% y-o-y

Apr 18, 2016 11:05 am
Industrial prices on the Macedonian market decreased by by 4.4 percent y-o-y in February, according to the State Statistical Office. Mining and quarrying prices dropped by 7.6 percent y-o-y in February, and manufacturing prices decreased 4.6 percent. Electricity, gas, steam and air conditioning supply prices, meanwhile, remained stable for the year, but increased by 0.8...
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Polish retail supply slows in Q1 2016

Apr 18, 2016 10:59 am
Poland’s retail market grew at a slower pace in the first quarter of the year, according to the most recent report from JLL, which writes that just 24,500 sqm of new space was delivered. Galeria Glogovia, 21,000 sqm shopping center, was opened, while Atrium Promenada completed an extension of 3,500 sqm. However, there’s another 65,000 sqm of space under construction, with...
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Amazon center in Horní Počernice needs EIA

Apr 18, 2016 10:43 am
Construction of a second Amazon center in Prague will be delayed. According to Hospodářské noviny and Mlada Fronta Dnes, the center for returned goods, to be built in the P3 logistic park in Prague Horní Počernice, will have to undergo an EIA assessment. P3 plans to develop a 40,000 sqm warehouse for Amazon in P3 Park Prague Horní Počernice, an investment which would lead...
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Marina in Bratislava Karlova Ves greenlighted

Apr 18, 2016 10:38 am
The Bratislava district of Karlova Ves plans to build a marina in the Karloveské branch of the Danube. With valid construction permit now in hand, the district hopes it will be able to foot the bill for the project by using revenues from the sale of land along the Karloveská branch. The City of Bratislava sold the land to J&T Real Estate, which has completed the first...
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Linardics opens new Hungarian production hall

Apr 18, 2016 10:15 am
Family-owned metal parts manufacturer Linardics opened a production hall at its base in Székesfehérvár, Hungary. The company invested HUF 102m to build the 500 sqm hall and an additional HUF 178m went towards the purchase a metal coating machine. Half the cost of the coating machine was covered by grant money, according to market sources....
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Plaza Rio 2 to open in 2017 in Madrid

Apr 18, 2016 10:10 am
A new shopping center is set to open in October 2017 in Madrid. At 130,000 sqm, Plaza Rio 2 will be the city’s biggest mall, offering 180 stores, restaurants, entertainment facilities and 1,500 parking spaces. Located on Calle Antonio López, the scheme is being developed by La Sociedad General Inmobiliaria de España. The cost of the investment was not revealed....
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Portuguese companies visit Ivory Coast to make inroads into market

Apr 18, 2016 09:16 am
Nine Portuguese construction companies are moving into Ivory Coast's market, which is seen as one of the most promising countries in West Africa with almost 23 million consumers. In the second Portuguese mission to be organized in the country, the Business Association of Portugal (AEP) has put together an event targeting major investments in infrastructure and...
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House prices in Portugal among lowest in Europe

Apr 18, 2016 09:14 am
The Global Property Guide highlights the Portuguese real estate market, claiming that the market is rebounding as prices rise. According to its newest report, house prices in Portugal are rising quickly, as the economy recovers, with price tags up 3.66 percent in January 2016 compared to the previous year, reaching an average price of €1,047 per square meter. After more...
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Conference on future workspaces to be held in Lisbon

Apr 18, 2016 09:12 am
In a response to the ongoing transformation of corporate working spaces, Workplace Conferences is putting on the 3G Office conference beginning April 21 in Lisbon, one of 18 cities chosen to host this world event. The theme of the conference is 'Space - People - Technology'. Topics discussed will include how workspaces will be designed in the future, how...
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Immofinanz agrees deal for 26% of CA Immo with merger looming

Apr 18, 2016 08:44 am
Immofinanz has revealed that it has entered into an agreement to acquire over 25 million ordinary shares in CA Immobilien, which represents 26 percent of that company’s share capital and voting rights, from O1 Group Limited and Terim Limited. The move would appear to signal the beginning of a merger process between the two companies. Immofinanz would gain four registered...
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Rouble's devaluation slashes dollar value of top Moscow flats

Apr 16, 2016 01:29 am
From January to March 2016, the average cost per square meter in the 100 most elite apartments on sale in Moscow has dropped to $40,900, according to analysts from Savills Russia. This means that the total dollar value of these 100 most expensive apartments fell by almost $100m. However, calculated in roubles, the same apartments rose significantly due to the devaluation of...
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Sberbank picks JSC Engineering to build Russia's largest data center

Apr 16, 2016 01:25 am
Sberbank of Russia has selected JSC Engineering to build it a second data center in the innovation center Skolkovo. The contract with the company is for RUB 12.2bn. The bank received other bids for the construction of the center from Mospromstroy-Formwork LLC and JSC RD Construction Management. In 2012, Sberbank launched its first data center called South Port which was...
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Blackstone Group takes $355m loan for Club Quarters Hotels acquisition

Apr 15, 2016 03:43 pm
The Blackstone Group has received a $335 million loan for the acquisition of four Club Quarters Hotels in Boston, Chicago, Philadelphia and San Francisco. The portfolio encompasses 1,228 rooms, with the properties having undergone over $16 million of capital investment since 2009. Club Quarters is a membership hotel in which members commit to a number of room nights per...
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