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Posts from CIJ Europe.com for 05/03/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 05/03/2016

Andreas Burmeister named Managing Director at WISAG Sicherheit & Service

May 03, 2016 12:52 pm
Andreas Burmeister has been made the new managing director of WISAG Sicherheit & Service Holding in Frankfurt. He replaces Eduard C. Kutyma, who has taken the same position at WISAG Aviation Service Holding. Burmeister has 25 years of experience in leading positions. "With his experience in security services and technology, he will continue the successful...
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BUWOG to build 1,000 units in Hamburg

May 03, 2016 12:35 pm
BUWOG Group concluded has completed a deal to buy a 42,700 sqm plot of land in Hamburg-Bergedorf. Using current planning, the company’s would be able to build over 1,000 units at an estimated total investment cost of around €430m. The site is part of the "Schleusengraben" development area, which is located in the center of the Bergedorf district of Hamburg. The...
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Romanian unemployment rate drops to 6.4% in March

May 03, 2016 11:13 am
The Romanian unemployment rate fell to 6.4 percent in March, down by 0.1 percent from the previous month, according to the National Statistics Institute (INS). The unemployment rate for men was 1.1 percent higher than for women. The number of unemployed between the ages of 15 and 74 in March dropped to 592,000, down from 597,000 in February. In March 2015, the number of...
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Sanex’s turnover up by 8% in 2015

May 03, 2016 11:13 am
Ceramic tiles manufacturer Sanex, part of the Austrian group Lasselsberger, posted a turnover of €32m in 2015, up 8 percent from the previous year. However, the company said its profits dropped below €1m. "The decline in profits was related not only to lower prices and increased costs but also to the fact that we have strong competition in Romania, after imports of...
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Bulgarian government investing €8m into Karlovo

May 03, 2016 11:06 am
The Bulgarian Ministry of Regional Development is investing more than €8m in the town Karlovo. The funds will go toward sustainable and integrated development, including the construction of pedestrian areas and the rehabilitation of several streets. The reconstruction of a church, the modernization of Karlovo’s art gallery and history museum are also in the works as is...
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Tesy invests over €1.6m in new Shumen factory

May 03, 2016 11:05 am
Appliance producer Tesy has built a factory for electric boilers in the city of Shumen in eastern Bulgaria. Project management for the work was entrusted to Lindner Immobilien Management. The project included the construction of an administrative building with around 1,700 sqm in built up area and a new production and storage building, along with a 2,630 sqm transport...
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Changhong opens research center in Nymburk

May 03, 2016 10:29 am
Chinese manufacturer of LCD television sets Changhong opened its R&D center in a Czech-Chinese industrial zone located in Nymburk. The opening of the research and development center expands Changhong‘s activity to the pre-production phase and it aims to participate on the development of new products for the European market. Alongside the gradual development of the...
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A123 expanding in CTPark Ostrava

May 03, 2016 10:10 am
CTP has begun the fit out of newly leased production space for the automobile supplier A123 Systems in Ostrava. A123 will lease a portion of the developer’s 7,000 sqm industrial warehouse once it opens in October 2016. The manufacturer plans to produce lithium-ion car batteries at the site, thanks to the lease which was brokered by Cushman & Wakefield. “The team is...
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Corwin Capital starts construction on Dúbravy in Bratislava

May 03, 2016 10:08 am
Corwin Capital has begun construction work on its residential project Dúbravy in Bratislava. The project is being built in the Dúbravka district of the Slovak capital, next to the Dubrawa shopping center. The first phase includes four 6-level apartment buildings with 130 units ranging between 27 and 100 sqm. Prices for the smallest units begin at €62,000. The first phase is...
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Wilson & Partners continues to earn its Band 1 ranking

May 03, 2016 10:00 am
Having completed important investment deals in 2015 and with several more transactions now in the offing, Wilson & Partners and its specialist real estate team continues to enjoy the kind of success that catapulted it into the Band 1 ranking it achieved in the Chambers & Partners directory. The Band 1 ranking is one of the highest honors legal firms can attain, as...
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Porto's highstreet sees 6th fastest rent increase in Europe

May 03, 2016 09:59 am
Porto's Santa Catarina Street registered the 6th fastest rise in rents in Europe for the first quarter of 2016. The city of Porto has overtaken in the rent inflation 'race' by Sloane Street in London and Buchanan Street in Glasgow. The numbers come from the latest report by Cushman & Wakefield, which writes that Porto has become a popular destination for...
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Old Porto newspaper building set for residential redevelopment

May 03, 2016 09:57 am
The building that was the headquarters of Comércio do Porto newspaper, in Avenida dos Aliados in Porto, was purchased by an international fund and will become redeveloped as a residential building. When work is completed, the building will offer 20 apartments as well as shops on the ground floor. Sales are set to be launched over the summer, at prices that will go up to...
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City sponsored Nautical Center to open in Alqueva

May 03, 2016 09:55 am
The Municipality of Moura will be opening the Estrela Nautical Center on May 7, located in a building that once served as its primary school. The building's use was requalified by the municipality in order to allow it to carry out the project which will be used to promote water sports and events. The village of Estrela enjoys excellent water conditions meaning that it...
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FFIRE acquires Zentrum Lohmühle in Lübeck

May 02, 2016 03:54 pm
FFIRE Immobilienverwaltung AG has acquired Lübeck Zentrum Lohmühle from MH German Property II, Luxembourg, though final terms of the deal are being discussed. The seller is being advised by JLL, with the deal being coordinated by Hatfield Philips as Special Loan Servicer. FFIRE intends to reposition the building, which was built in 2004, by renting the vacant retail space...
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Eyemaxx invests €160m in a new project in Mannheim

May 02, 2016 03:51 pm
Eyemaxx Real Estate has closed a contract for a 20,000 sqm piece of land for the planned „Postquadrat“ project in Mannheim. The €160m residential and commercial project will be the largest project in company’s history. It includes two hotel buildings which will occupy total of 57,000 sqm of space. Postquadrat is located in downtown Mannheim, in the proximity of the Main...
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