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Posts from CIJ Europe.com for 05/16/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 05/16/2016

Brazilians increasingly important real estate investors in Portugal

May 16, 2016 12:04 pm
Brazilians are increasingly turning to Lisbon to make real estate investments because of changes in the US economic situation and in key legislative areas, while the flow of tourists to the Portuguese capital is also growing. Brazilians already form the largest foreign community in Portugal, with 87,493 residents. They are now the third most biggest investors in Portugal,...
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Municipality of Gaia wants to sell Real Companhia Velha warehouse

May 16, 2016 12:03 pm
The Municipality of Gaia intends to sell an older warehouse belonging to Real Companhia Velha, near the Douro river, for the construction of a cultural center. The sale will take place through an auction in which bidding will start at €3.6m. The proposed auction of the old Real Companhia Velha facilities will be considered at the city's next meeting chamber to resolve...
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Leo Express to offer free ride home for premium customers

May 16, 2016 11:50 am
The private Czech transport company Leo will begin offering its business and premium class customers a free ride home. The service is to be provided for those passengers travelling between Prague and Ostrava as of June 1. A spokeswoman for the company said passengers in the more expensive seats will be able to set up the ride during the trip and that they would be picked up...
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CEDER Conference Romania 2016 – 10 days left!!!

May 16, 2016 11:15 am
There are only 10 days left until the most eagerly awaited property conference of the year, CEDER Romania 2016. This years participating speakers will include: Moderator | Robert McLean | Editor in Chief | CIJ Journal & Encompassme Robert Neale | Managing Director | Portland Trust Ingo Nissen | Managing Director | Sonae Sierra Roman Skowronski | Head of...
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Somaco invests €1.8m into modernization of Romanian plant

May 16, 2016 11:13 am
Somaco, which manufactures building materials, invested €1.8m into the modernization of its autoclaved aerated concrete plant in Adjud. The project was financed by the company’s own funds as well as grants from the Norwegian Financial Mechanism 2009-2014. “After a year, when we started the project, one of our objectives in the short-term was to increase production...
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Aktor SA signs Serbian motorway contract

May 16, 2016 11:06 am
Greek builder Aktor SA signed a €17.2m contract with the Serbian motorway company Koridori Srbije to complete the Dimitrovgrad bypass-Bulgarian border crossing project. The contract includes the construction of the 5.8 km stretch along the E 80 motorway, known as Corridor 10, as well as seven bridges. The work will be financed by a loan from the World Bank and must be...
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Bulgaria's GDP up by 2.9% in Q1

May 16, 2016 11:04 am
The Bulgarian economy exceeded €9.15bn in the first three months of the year, up 2.9 percent from the previous year and 0.7 percent from the fourth quarter of 2015, according to the National Statistical Institute. However, trade fell in Q1 2016, with exports of goods and services dropping by 0.3 percent, while imports decreased by 2.8 percent....
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Raiffeisen Hungary posts €10m profit in Q1

May 16, 2016 11:04 am
The Hungarian subsidiary of Raiffeisen Bank International posted a €10m profit in the first quarter of 2016, recovering from a €21m loss a year earlier. The lender’s assets totaled €6.34bn at the end of March, down from €6.7bn in March 2015. While the number of branches on the Hungarian market fell from 114 to 72, client deposits increased from €4.08bn to €4.11bn.
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Czech production prices fall in April

May 16, 2016 10:50 am
Czech production prices fell in April thanks to continuing lower prices for petroleum products, according to the country’s statistics office. Industrial production fell 4.7 percent compared to April 2015, which was even faster than in March when it fell 4.5 percent. Most economists had expected only a 4.6 percent fall in output. However, compared to output in March 2016,...
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IT BlueSoft moves into Equator II in Warsaw

May 16, 2016 10:38 am
Karimpol secured BlueSoft as a tenant for its Equator II office project in Warsaw. The IT company took 1,600 sqm of space in the building and will occupy the building’s entire 9th floor. The transaction has pushed the occupancy in the building to 95 percent. Located at Al. Jerozolimskie street in Warsaw’s CDB, Equator II offers 21,300 sqm of lettable space, including 400...
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Axactor acquires Spain’s Geslico

May 16, 2016 10:24 am
Axactor has acquired Geslico, Spain’s leading debut collection agency, from the US fund Fortress. The price of the deal was not disclosed. Axactor Espana plans to generate more than €40m in revenues this year, up from €10m in 2015. The company also plans to create almost 500 new jobs, more than double its current workforce. Founded in 1985, Geslico has 300 employees and...
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Foreign demand for Poland’s residential sector grows

May 16, 2016 09:57 am
Demand from foreign investors for Polish flats grew 16 percent last year to 3,754 units, according to the country’s Ministry of Internal Affairs and Administration. Warsaw attracted the largest portion of interest from these buyers, the reports showed, with 1,006 units (71,700 sqm of space) sold last year. This was followed by Kraków (473 flats) and Wrocław (276 flats)....
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Cording leases 3,000 sqm of office space in Media Tower in Düsseldorf

May 13, 2016 04:15 pm
Cording Real Estate Group and BNP Paribas Real Estate Investment Management (REIM) Germany have let almost 3,000 sqm of office space in the Dusseldorf Media Tower. This letting has increased the occupancy level of the office tower, located in the Dusseldorf Medienhafen, to around 80 percent. Cording acquired the property last year for the Real Value Fund, launched with BNP...
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€180m reconstruction of KaDeWe in Berlin begins

May 13, 2016 04:14 pm
The iconic KaDeWe department store in Berlin is to be reconstructed in a €180m development scheduled to complete in 2022. KaDeWe is the second largest department store in Europe (after Harrods in London). Construction has begun on the shop windows, which are to be returned to their original size. works on the shop window, which will be restored back to its original size....
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