briefs

New player on the market The German bank Hamburgische Landesbank - Girozentrale is planning to start operating in Poland. A representation of HL-G will open in Warsaw on 3rd September and will finance office projects, retail centres and hotels. Last year Hamburgische Landesbank - Girozentrale granted credits of EURO 12 billion to the real estate market, which is a 14,4 percent increase compared to 2000. New issue of mortgage bonds Rheinhyp-BRE bank Hipoteczny has announced the issue of PLN 50 million mortgage bonds on 29th July. The first public issue of these securities will be in the first quarter of 2003. The July issue is the seventh in over 2 years of the bank's prescence in the Polish market. It is based on granted credits, whose total exceeded PLN 900 million at the end of the first half of 2002. New owner in ul. Marynarska The German investment fund ZEI (Zentral Europa Immobilien Fonds),