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Posts from CIJ Europe.com for 05/23/2016

Daily Commercial Real Estate News from Europe and USA
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In this edition: 05/23/2016

Grupa Waryński replaces management board

May 23, 2016 12:24 pm
As expected, the state-owned development company Grupa Waryński is replacing the management board of the company. Waryński’s supervisory has appointed Mirosław Łoziński as the new CEO for the group, replacing its head for the past year, Jarosław Jankowski. Prior the appointment, Łoziński had been managing the law team at Polish State Railways (PKP PLK). Previously, he’s...
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Finnish YIT kicks off Nordic Mokotów flats

May 23, 2016 11:15 am
The Finnish developer YIT has launched its first housing investment in Poland, having attracted attention last month by signing a lease to locate its headquarters in Spektrum tower in central Warsaw. Called Nordic Mokotów, the project kicked off last week at the corner of Sikorskiego and Pory streets, in Warsaw’s Mokotów district. The developer is planning to deliver the...
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Hell Energy invest HUF 2.5bn at Szikszó factory

May 23, 2016 11:07 am
Energy drink maker Hell Energy Magyarország opened a new production line at its base in Szikszó, northern Hungary. Construction costs hit HUF 2.5bn, of which HUF 500m was covered by European Union funding and a Hungarian state grant. In the last five years, Hell Energy has invested HUF 15bn at it Szikszó production base. In 2014, the company reported a profit of of HUF 560m.
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Average salaries in Macedonia increases in March

May 23, 2016 11:04 am
Monthly salaries are going up in Macedonia with the average gross wage increasing to €526 in March, according to data released by the state statistical office. A number of sectors reported an increase in wages, including administrative and support services (16.5 percent), information and communication (13.1 percent) and construction (12.8 percent)....
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GTC selling Galleria Arad, Piatra Neamt

May 23, 2016 11:02 am
Globe Trade Centre (GTC) is in talks to sell Galleria Arad and Piatra Neamt. The name of the buyer was not disclosed. The shopping centers as well as a plot in Poland, are worth €11m, according to GTC. Revenues generated by the two retail properties have been falling since last year. GTC recently acquired Premium Plaza and Premium Point, which offer a total of 15,000 sqm...
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Czech Airlines relaunches Skopje-­Prague route

May 23, 2016 11:02 am
Czech Airlines has relaunch its Skopje-­Prague route, which it canceled four years ago. The carrier currently offers two flights per week and intends to open a third by the end of June. “I am satisfied over the flight's restoration. The package includes morning flights from Skopje and night flights from Prague, which gives visitors maximum use of their stay in the...
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Eurostat: Construction volume in Romania down 1.6% in March

May 23, 2016 10:59 am
The construction volume on the Romanian market decreased by 1.6 percent m-o-m and 2.2 percent y-o-y in March, in Romania, according to Eurostat. In the EU, construction output decreased by 1.4 percent m-o-m and 0.9 percent in the eurozone, the data shows. The largest decreases were reported in Slovenia (-8.5 percent), Hungary (-6.3 percent) and the Czech Republic (-5.1...
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CaixaBank to sell 144 hotels in Spain

May 23, 2016 10:02 am
CaixaBank is planning to sell 144 hotels on the Spanish market that it acquired during the financial crisis. The properties, worth an estimated €1bn, will be divided into two portfolios: one with unpaid loans secured by 112 hotels and the other with 32 hotel assets that have foreclosed. Local media is reporting that this the largest deal involving the divestment of hotels...
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Residents to vacate Metrostav project with faulty statics

May 23, 2016 09:34 am
Customers of Metrostav Development who live in residential project Galerie nad Vltavou in the Prague - Libeň district have to move out until the company deals with faults in the project’s foundations. The developer had planned to start reconstruction work on the buildings today, but it has not yet received approval from all 126 owners. The owners are being offered the...
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Euronext will install technology center in Porto

May 23, 2016 09:33 am
The stock exchange group Euronext has chosen Porto as the site of its newest technology center. The new infrastructure is to be operational next year at a location on Avenida da Boavista in the same building where Interbolsa is headquartered. The new center will employ 105 engineers and other highly skilled professionals. "With the new center, Porto will strengthen its...
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Portuguese mortgages to offer 100% of value?

May 23, 2016 09:32 am
Most banks operating in Portugal are now agreeing to finance 80 percent of the value of the homes their clients take out mortgages on. But the question recently has been whether they follow the example English banks like Barclays and give 100 percent home loans. Banco BPI and Santander Totta are now providing up to 85 percent lending. Now, Sergio Pereira, director of...
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Visa gold: Foreign real estate investment up 45%

May 23, 2016 09:32 am
The volume of foreign investment in Portugal under the visa gold program increased by 45 percent in April compared to the month before. The visas-for-investment program has now brought in a total of €313m since it was established two years ago, announced the Portuguese Confederation of Construction and Real Estate (CPCI). And the pace may be picking up, as the total for the...
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Kasa.cz and Euronics.cz join Alza in the split with Heureka

May 23, 2016 09:30 am
Kasa.cz and Euronics.cz are the latest Czech e-shops to remove their goods from the price comparison website Heureka. The revolt was initiated by Alza.cz, which argued that following its acquisition by Rockaway, Heureka will not be independent, since Rockaway already owns the second largest Czech e-shop Mall.cz. Kasa and Euronics are operated by HP Tronic, and Hospodářské...
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Rača Tower and Rača Gate nearing completion

May 23, 2016 09:25 am
The investor Retkins is nearing completion of two residential buildings in Bratislava’s Rača district. Rača Tower and Rača Gate offer 114 apartments located on Rustavelliho and Žitna streets. Work began in early 2015 on the project and just 17 units are still available for sale. Shell and core flats are on offer for roughly €1,800 per sqm. The project’s four commercial...
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Osiander rents 700 sqm at Marktplatz in Stuttgart

May 20, 2016 01:53 pm
The bookshop chain Osiander will open a branch at Marktplatz 5 in Stuttgart in July. Real I.S. is the landlord of the 700 sqm space, having acquired the property in July 2015. The long-term lease agreement was mediated by the Retail Group, Stuttgart. Osiander plans to invest almost €600,000 in the renovation of its new store, which will replace the shop on Nadlerstraße...
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Sabine Barthauer promoted to the Deutsche Hypo Board of Managing Directors

May 20, 2016 01:51 pm
Sabine Barthauer was appointed to the Bank’s Board of Managing Directors by the Supervisory Board of Deutsche Hypo. As soon as the approval of the banking supervisory authority is granted, Barthauer will be promoted to the Bank’s Board of Managing Directors, where she will focus primarily on the overseas commercial real estate finance business and the area of structured...
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