May 17, 2016 11:57 am
Unibail-Rodamco is planning to invest PLN 60m to expand its Arkadia shopping center in Warsaw. The main facade of the mall (the one facing the Rondo Radosława side) is to be shifted forwards, in order to provide new retail and restaurant space.
Construction is scheduled to break ground in June, adding 2,000 sqm of new retail space as well as a restaurant zone. A total of... Read in browser »
May 17, 2016 11:55 am
Bell Helicopter opens new paint facility and delivery center in Prague in its facility near the Václav Havel Airport Prague. The extension will serve Bell’s European customer base and the company has implemented top modern technology there. “Bell Helicopter’s continued investment in the region reinforces our commitment to our European customers to provide an in-region... Read in browser »
May 17, 2016 11:11 am
Plaza Centers NV and New Century Holding, a US investment group, sold Riga Plaza for €93.4m to a global investment fund. The name of the buyer was not released, though Karlis Cerbulis, head of New Century Holding, calls the new owner “a respectable Western investment fund.” The deal is expected to close in July. Plaza Centers NV said in a statement that it wants to overhaul... Read in browser »
May 17, 2016 11:09 am
Pillar Investment Group bought the headquarters of airBaltic at the Riga International Airport for €6.19m in a deal brokered by the distressed asset manager Reverta. Pillar will take over airline carrier’s lease agreement. The four-story office building offers more than 6,200 sqm of space and includes 11 conference rooms.
“As the size of the post-crisis portfolio has... Read in browser »
May 17, 2016 11:03 am
Park Inn by Radisson is scheduled to open in Riga in the second half of this year. The hotel will feature 178 guest rooms, a conference center, restaurant and fitness center. When construction started in October 2014, the hotel operator D.N.H. announced that a Hilton Garden Inn would be going up on the Krisjana Valdemara street site. No additional information on why those... Read in browser »
May 17, 2016 11:02 am
The City of Prague is having trouble reaching agreement with land owners along the planned 10.6 km route of the metro D line. The city needs to buy out some 800 plots, but has managed to close just 15 so far. The deputy mayor for transportation, Petr Dolínek, suggests that if agreements cannot be reached, the sites should be expropriated. Lidové noviny writes that the... Read in browser »
May 17, 2016 10:59 am
ACG Worldwide Indian is planning to invest €35m to expand its Lukaps capsule factory in Ludbreg, northern Croatia. A new 20,000 sqm facility is set to go up on the site, which will increase the company's annual production capacity from 7 billion to 10 billion medicinal capsules. Completion is scheduled for 2018.
ACG Worldwide is the second largest capsule producer... Read in browser »
May 17, 2016 10:59 am
Lack of qualified labor is becoming a serious problem for Slovakia’s automotive industry, with more than 40 percent of suppliers claiming it’s limiting their competitiveness and ability to win new contracts. That’s the conclusion of a new study compiled by PwC and the Automotive Industry Association of the SR and Slovak Automotive Institute called the Automotive Suppliers... Read in browser »
May 17, 2016 10:59 am
The average income per household member during the first three months of 2016 was €632, up 4.2 percent y-o-y, according to data released by Bulgaria’s National Statistics Institute. Wages and salaries accounted for 57.1 percent of the total, up 2 percent y-o-y, followed by pensions (26.5 percent), self-employment (6.6 percent) and social benefits (2.8 percent).
Average... Read in browser »
May 17, 2016 10:58 am
IMC Textiles Ltd. built a new production facility at the Western Industrial Zone in Pleven, northern Bulgaria. The €2m investment includes two adjoining buildings offering more than 3,000 sqm of space and a 1,000 sqm warehouse. Construction started in late 2014. The facility is expected to create 30 new jobs.
IMC Textiles was established in 2011 as a subsidiary of the... Read in browser »
May 17, 2016 10:58 am
Leroy Merlin will open its first location in Bacau on May 27. The 12,000 sqm store boosts the DIY retailer’s Romanian network to 13 locations. This is the second Leroy Merlin store in the country and second in the Moldovan region.
The new store will open at Hello Shopping Park on Calea Republicii. It will feature a 3,700 sqm drive-in area. Leroy Merlin opened a new... Read in browser »
May 17, 2016 10:18 am
ContiTech Fluid Automotive Hungária, a subsidiary of the German automotive supplier Continental, completed the expansion of its Hungarian base in Makó. The facility manufactures heating and cooling hoses. It also oversees 10 other Continental factories that produce similar systems. ContiTech Fluid Automotive is the largest employer in the city. The HUF 3.7bn expansion... Read in browser »
May 17, 2016 10:06 am
The Lisbon City Council raised €500m from the sale of buildings and municipal land between 2012 and 2016. Over the same period, it invested €248.5m in the acquisition of properties. Among the properties it sold was an agreement with the Portuguese government to transfer ownership of the airport grounds for €271m. The information has been made public in a document outlining... Read in browser »
May 17, 2016 10:04 am
Montepio Bank will sell off assets and restructuring savings to bridge losses that have appeared on its books. The bank hopes to raise between €400m and €500m from the sale of real estate, investments and non-performing loan portfolios. The biggest share should come from the sale of real estate, which has generated cash flow of €60m in the first three months of the year.... Read in browser »
May 17, 2016 09:49 am
Echo Investment has secured a loan of €185m (more than PLN 820m) from Helaba - Landesbank Hessen-Thüringen to refinance its retail portfolio, part of the package that the South African fund Redefine bought an 85 percent stake in two months ago. The portfolio includes Galeria Amber, Galeria Sudecka, Outlet Park Szczecin, Galeria Veneda, CH Echo, Galeria Olimpia in Bełchatów... Read in browser »
May 16, 2016 03:04 pm
Norway’s sovereign wealth fund is preparing to join a class action suit against Volkswagen as part of the fall out from the emissions scandal that erupted last year. Volkswagen admitted to installing software in some of its diesel vehicles that was used to cheat US emissions tests. The lawsuit is expected to be filled in the coming weeks in Germany. Norges said it was... Read in browser »
May 16, 2016 01:27 pm
Greetings one and all. It has been a hectic start to 2016, so much so that I cannot believe it is already May. The real estate market in both Czechia(!) and Slovakia is performing strongly and this has led to our busiest start to a year since 2008, with numerous new instructions for acquisitions and sales of retail, office and industrial properties.
We have... Read in browser »
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