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

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

Deloitte: Concern grows over PL office sector

May 05, 2016 12:05 pm
Moderate optimism has dominated the Polish real estate market, according to the most recent Sentiment Index Interviews by Deloitte, who polled 40 key property investors. “Overall market conditions are not being perceived as pessimistic, but their responses suggest they’re becoming more cautious,” said Marta Kamionowska, head of financial advisors team of Deloitte. She adds...
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EBRD investing €60m in energy-efficiency projects in Croatia

May 05, 2016 11:46 am
The European Bank for Reconstruction and Development (EBRD) is launching a €60m facility to fund energy-efficiency improvements in Croatian households. The money will finance, among other things, the installation of energy-efficient windows, the insulation of walls, roofs and floors and the introduction of efficient boilers, solar water systems, heat pumps and home...
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Resi permits grow by 3.4% in Bulgaria in Q1

May 05, 2016 11:36 am
Nearly 1,000 permits were issued for residential projects on the Bulgarian market in the first three months of the year, up 3.4 percent y-o-y, according to the National Statistical Institute. However, the figure represents a decrease of 6 percent from the previous quarter. The residential permits issued in Q1 2016 were for a total of 3,434 units covering 508,473 sqm of...
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Alumetal completes first plant on Hungarian market

May 05, 2016 11:30 am
Polish automotive industry supplier Alumetal completed its first plant in Komárom, Hungary. The plant is expected to turn out more than 50,000 tons of products annually when it reaches full capacity. The annual production capacity of its plant in Poland is approximately 165,000 tons a year. The Hungarian plant is expected to employ 150 people....
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Majority stake in Porto Montenegro changes hands

May 05, 2016 11:08 am
Investment Corporation of Dubai bought the majority stake in Porto Montenegro in Tivat, a coastal town in southwest Montenegro, from Canadian businessman Munk. The price of the deal was not disclosed. Munk owned 52 percent of the property. The co-owners include Russian oligarch Oleg Deripaska, Lord Jacob Rothschild, and Bernard Arnault, chairman and CEO of the...
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Check out the FULL LIST OF SPEAKERS for CEDER Real Estate Conference

May 05, 2016 11:00 am
This year’s CEDER Conference will take place on 26th of May at the InterContinental and will again be the key conference to attend for property professionals, being set to produce the biggest attendance in its 9 year history. Please find below this year's confirmed participating speakers: Robert Neale - Managing Director - Portland Trust Ingo Nissen - Managing...
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Slovakia wins EU funding for Žilina bypass

May 05, 2016 10:57 am
Slovakia has won its request for a non-returnable contribution from European cohesion funds for the completion of the Žilina bypass, meaning that 85 percent of the work will be subsidized by the EU under the operational fund Transportation 2007 – 2013. The new section of the D3 motorway has been under construction since 2014 and is due for completion in 2017. The road is...
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Colin’s to open at Fashion House Bucharest

May 05, 2016 10:57 am
Colin’s is set to open a 386 sqm store at Fashion House Outlet Centre Bucharest this month. This is the fifth retailer to sign on to the project since the start of the year. Other new tenants include Triumph, Sport Vision, Issimo Home and R&R Boutique. Established in Turkey in 1983, Colin’s operates more than 680 in stores in more than 50 countries....
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Griffin pulls out of Robyg bid, greenlighted for Redefine deal

May 05, 2016 10:11 am
Griffin Real Estate is no longer interested in taking over Robyg, a source close to the deal has told CIJ. The fund had been looking to take over the listed local residential developer since last year. However, the talks broke down after hitting an advanced stage at the end of 2015. “Robyg assets aren’t as interesting,” said the source, hinting, however, that talks with...
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Telefónica to sell two buildings in Madrid for €50m

May 05, 2016 10:08 am
In a sale and leaseback transaction, Telefónica is looking to offload two properties located on Calle Irún and Calle Alcántara in Madrid. Telefónica is hoping to net more than €50m for the buildings, which offer 10,000 sqm and 7,000 sqm of space respectively. Under the sales agreement, the Spanish telecom operator will remain the tenant in both buildings for 10 years, with...
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CTP building for HP Adler Pelzer in Bratislava

May 05, 2016 09:58 am
CTP has begun construction of an industrial warehouse for HP Adler Pelzer Group in Devinska Nova Ves in Bratislava. The automobile supplier’s 12,000 sqm facility should be ready to begin shipments to Volkswagen (a major customer) by the end of 2016. CTP has leased 19,000 sqm of space in Slovakia during the first quarter 2016, including a 10,000 sqm lease to Lear in its...
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Mall.cz expands warehouse capacity at Prologis Park Prague-Jirny

May 05, 2016 09:53 am
Prologis has signed a deal with Mall.cz for a 20,500 sqm warehouse for the Czech e-retailer at its park in Prague-Jirny. The building, scheduled for completion in the third quarter of 2016, is to be located next to Mall.cz’s existing 31,000 sqm BTS facility, which was delivered in 2015. “Having been given the option to expand later when we signed the agreement for our...
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Decrease of EU subsidies sees Czech GDP growth slow 2.1%

May 05, 2016 09:51 am
While it’s still on the upswing, the Czech economy is set to slow down from the 2015’s 4.2 percent growth to a mere 2.1 percent in 2016, according to a new forecast by the European Commission. The slow down is taking place in part because generous subsidies from the European Union have run out, leaving GDP growth depending upon domestic demand. In 2017, the EC predicts GDP...
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Lisbon warehouse redevelopment to result in nine new apartments

May 05, 2016 09:35 am
An old warehouses on Junqueira Street in Lisbon are being turned into a set of nine new condominium units. The €5m investment is scheduled for completion in the third quarter of 2016, with sales of the new residential properties entrusted to JLL/Cobertura. With a total building area of 1,225 sqm, the private condominium called Junqueira 156 is composed of 9 units ranging in...
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Take up on Lisbon's office market continues to rise

May 05, 2016 09:34 am
The office take up figures in Lisbon for the first quarter of 2016 increased by 14 percent y-o-y with 44 deals completed. It was less than the 68 that were concluded in the first three months of 2015, but the average size of the deals increased. Things were particularly busy in the prime areas of Zone 1, where 7,240 sqm of space was leased, but all of the city's zones...
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Lisbon housing among world's cheapest

May 05, 2016 09:33 am
Lisbon is one of the cheapest capitals in the word to buy apartments in, according to the Global Property Guide. If ranked the city 62nd worldwide in terms of the price square meter of living space. Monaco took the prize for most expensive city, follow by London. Sales prices of apartments in Lisbon are currently between €103,000 and €431,000, however these are meant for...
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Strabag PFS wins management contract from DFS Deutsche Flugsicherung

May 04, 2016 05:03 pm
STRABAG property and Facility Services has been awarded a major contract by the German air-traffic control body DFS Deustche Flugsicherung. The company is taking on the entire technical facility management for the DFS headquarters in Langen near Frankfurt, including all administrative buildings, the control center, the DFS Academy and the research, technology and logistics...
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LFF Real Estate Partners buys €17m office building in Frankfurt’s CBD

May 04, 2016 05:02 pm
La Française Forum Real Estate Partners has acquired an office building located near Frankfurt’s CBD. The seller, German real estate company Art-Invest Real Estate, sold the office building for approximately €17m. The fully-let building is six stories high and offers approximately 2,700 sqm of floor space. The top five levels of office space are currently let to multiple...
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Pulte Homes snags Gulfstream Polo site in Palm Beach County

May 04, 2016 03:54 pm
The Gulfstream Polo development site in western Palm Beach County has been scooped up by Pulte Homes in a $49 million deal. The 160 acre tract of land is located on the south side of Lake Worth Road just west of Florida’s Turnpike. The property is part of a of a pending comprehensive plan amendment to build 973 homes on 224.9 acres. The additional land remains under...
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Sun Vista Hotels III buys La Quinta Inn Orlando International Dr.

May 04, 2016 03:51 pm
Orlando-based Sun Vista Hotels III has closed on the purchase of the La Quinta Inn Orlando International Drive for $8.6 million. Located in the heart of the tourist corridor in south Orlando, the 200 room hotel is located near the newly constructed I-Drive 360 entertainment complex. The four story property on Jamaican Court was built in 1985 and traded for $43,000 per room...
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