News

Construction

Agmet to build Outlet Center in Białystok

POLAND Agmet, a Warsaw-based company, has become the general contractor for Outlet Center in Białystok. Developed by ADV Por Property Investment, Outlet Białystok is scheduled to open in spring of next year and house app. 100 stores on 13,000 sqm of leasable space.

Residential

More Atal projects in Łódź

POLAND Atal is building its new residential estate in Łódź, Chojny Park. Comprised of two five-storey buildings, the project is being developed on ul. Rolnicza in the district of Chojny.

TriCity's 25 shopping centres with 1,900 stores in H1

POLAND TriCity's leasable retail space supply has reached 691,000 sqm available across 25 operating shopping malls in H1 2014, while the space saturation in the region amounted to 677,000 sqm per 1,000 residents, Colliers International said in its latest report entitled ‘Shopping Centres in TriCity H1 2014.’

Retail & leisure

Work on Tomaszów Mazowiecki mall begins

POLAND Galeria Mazovia, the investor of the shopping centre that is planned to be constructed in Tomaszów Mazowiecki, has received a building permit and started the demolition work on a 4.5 ha site on ul. Barlickiego, formerly occupied by a textile manufacturer, Zakłady Przemysłu Wełnianego.

Office & mixed-use development

Łódź’s MediaHub now nearly filled

POLAND Another companies are moving into the MediaHub office building in Łódź. The three new tenants, which will jointly take up 772.4 sqm of space, include PKO Bank Polski, It Works and Europejski Fundusz Leasingowy (EFL).

Industrial investment in Europe hits seven-year high

EUROPE In H1 2014, investors have spent a total of EUR 8.7 bln on industrial properties across Europe, the best first half performance since 2007, a study by CBRE reveals. The figure represents a 25 pct increase versus H1 2013.

Retail & leisure

VSF Creative shows inside of Galeria Kabaty

POLAND Architectural studio VSF Creative has presented the visualization of Galeria Kabaty’s interior spaces. The Tesco’s mall is planned to be erected in Warsaw’s Ursynów district in 2015.

Investment & finance

Portland Trust buys plot to build more offices in Bucharest

ROMANIA Prague-based commercial developer Portland Trust has bought a 4 ha land plot in Bucharest from Nusco Group. Located in North Central part of the city, the plot will accommodate a "large office project."

Budimex to build PLN 153 mln Ferrero developments

POLAND Budimex has signed two construction contracts with an Italian chocolate manufacturer Ferrero. Worth jointly PLN 153.7 mln, they come as the company's expands its production in Poland.

Investment & finance

Szczecin tenement house offered for sale

POLAND Litwiniuk Property facilitated the sale of a 240 sqm retail unit in a Szczecin tenement house. Located on ul. Bogusława X and owned by an undisclosed company that also holds the rest of the building, the space was acquired by an anonymous private investor for PLN 2.6 mln, the company informed.

Investment & finance

Strabag acquires EUR 95 mln stake in JW Marriott hotel

ROMANIA Bank of Cyprus has disposed of its 35.2 pct share in JW Marriott-branded Bucharest Grand Hotel, initially valued at EUR 95 mln, by selling it to the Austrian construction and development conglomerate Strabag.

Office & mixed-use development

LeasePlan takes up 2,000 sqm in NC3

POLAND LeasePlan Fleet Management, an international fleet management company, has leased almost 2,000 sqm of space in the NC3 office building in Warsaw, where it will move in Q1 2015.

Retail & leisure

Colliers to take Drive mall under management

RUSSIA Colliers International has become the property manager for Drive, a 42,000 sqm shopping centre in Moscow’s Vykhino-Zhulebino district.

Investment & finance

Ghelamco sells three Polish properties to Starwood

POLAND Belgian-originated developer Ghelamco has finalized the sale of its T-Mobile Office Park, Łopuszańska Business Park and Katowice Business Point to an American private investment firm Starwood Capital Group. The three office properties comprise 78,000 sqm of space in total.

Office & mixed-use development

The rise of The Tides

POLAND This Saturday the construction work is about to begin on the The Tides office and hotel project in Warsaw. Developed by the Tides company at the Vistula River embankment, the complex will be erected on the land plot now occupied by the Warsaw Rowing Association. The construction work is planned to be completed at the end of 2015 or in early 2016.

Investment & finance

Interferie reduces net loss

POLAND In H1 2014, Interferie (Interferie jointly with an affiliated company, Interferie Medical SPA) continued to perform stable growth. At the end of June 2014, the group’s revenues amounted to over PLN 17.9 mln, as compared to PLN 17.9 last year. Its net loss in H1 2014 decreased to PLN 356,000, from PLN 1.23 mln in H1 2013.

Investment & finance

Atrium redevelops Warsaw mall

POLAND Management board of Atrium European Real Estate (AERE) has approved the first stage of the extension and modernization plan for the Atrium Promenada shopping centre in Warsaw. According to the company, the shopping centre will get enlarged by as much as 44,000 sqm.

Amrest satisfied with Poland, Hungary and Russia in H1

EUROPE In H1 2014, a Poland-based restaurant operator Amrest, which runs app. 760 bars under KFC, Burger King, Pizza Hut and Starbucks brands, has seen a 8.9 y-o-y increase in its revenue, to PLN 1.4 bln. However, the company also posted a significant drop in net operating profit, which hit PLN 12 mln, as compared to PLN 41.8 mln in H1 2013.

Eurobuild jointly with the "I've got a dream" fundation has granted a dream of Małgosia

Investment & finance

AFI ends H1 with EUR 27.5 mln profit

CEE REGION In H1 2014, AFI Properties, which is the parent company of the CEE developer AFI Europe, has seen an over six-fold y-o-y increase in profit, from EUR 4.3 mln to EUR 27.5 mln. The global real estate investment company’s net operating income hit EUR 39.4 mln, up 10 pct y-o-y.