PL

Edition 2 (166) February 2012

Editorial

Like a film script

I like Kevin Spacey. I was enthralled by his performance in American Beauty. The mid-life crisis that he went through is a phenomenon that is sad and funny at the same time. Even though his life has a bitter taste, he himself is childishly sweet. Now we have a chance to see him playing a similar part again in the Margin Call (the Polish translation of the title is Chciwość [Greed], but the original title is probably more familiar to our industry).

Ewa Andrzejewska
Investment & finance

US boots on CEE ground

CEE REGION Not many US investors have been active in the CEE region since the collapse of Lehman Brothers, as they retreated to the safety of their core markets. But one US investment group making the headlines recently is Heitman. In December the company announced a joint venture with Hungarian developer TriGranit to own and operate four class 'A' office properties with a combined area of 70,000 sqm in Budapest. The buildings, which have been developed by TriGranit, are to be known as the Millennium Portfolio and are all located within the Millennium City Center project in the city's 9th district.

Nathan North
Hotels

The magnificent seven?

POLAND Over PLN 500 mln - will this be enough to overtake Condohotels, Inpro, Zdrojowa Invest and take the leading position on the Polish condo hotels market?

Stock market report

After the Christmas madness, a breather

The spectre of eurozone collapse is still looming over the financial markets, weakening the enthusiasm to buy shares, despite this, sector indexes are still coping quite well

(Mir)
Feature

No malls please, we're Hungarian

Now that the Hungarian government has reserved the right to vet all large retail developments, there remains much confusion as to what the law says and what the effects of the new legislation may be

Alex Hayes
Investment & finance

Construction constriction

The number of bankruptcies of Polish construction companies has been growing. More and more developers are being added to the National Debt Register - the number has grown by more than 350 pct in five years. However, the experts keep reassuring us that we are not in danger of a deeper crisis

Jakub Ziębka
Investment & finance

Breaking the bonds

An uncertain future lies ahead for two of the real estate financing units of German banks: WestImmo and Eurohypo. Both had been major providers of development loans in the CEE region. New EU regulations, the need to de-leverage and the eurozone crisis are among the factors conspiring against the recovery in the bond market needed to bring this form of finance back

Nathan North
Residential

The anti-development act

An act designed to protect Polish home buyers comes onto the statute book in the spring. The so-called "Development Act" results from a constitutional tribunal ruling in August 2010 that found that the interests of property buyers in Poland were insufficiently protected. Government agencies have been obliged to draft a new law to resolve the issue.

Zuzanna Wiak
Human resources

Down but not yet out

Constructors are faced with the prospect of less work. Some want to reduce employment and salaries. should industry professional start to worry? "Let's not over-react," say the experts, in an attempt to calm nerves. but it's only The best who have nothing to worry about

Krzysztof Tomaszewski
Endpiece

Tossing a pancake in the face of the system

Warsaw. A group of young people break into a closed-down milk bar. They bring with them pots and crockery, open the kitchen and start preparing food. Dumplings and pancakes are cooked up. Then the first customers start appearing...

Radosław Górecki

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