News

POLAND Polimex-Mostostal has signed an agreement with its creditors to reduce its fixed costs by a minimum of PLN 300 mln by 2015.

Revenue boost for Redan

POLAND Grupa Kapitałowa Redan generated consolidated sales revenue of PLN 437.1 mln for 2012, representing a 15 pct increase on 2011.

POLAND The Rzeszów branch of the General Directorate of National Roads and Motorways (GDDKiA) has signed a PLN 66 mln contract with a consortium made up of Przedsiębiorstwo Robót Inżynieryjnych Pol-Aqua (the leader) and Dragados for the construction of a 3.6 km section of the Leżajsk ring road.

PPG revises financial forecast upwards

POLAND Platinum Properties Group (PPG) has revised its estimated net profit for 2012 to PLN 13 mln – up on the PLN 12 mln that it predicted earlier. The developer now estimates its turnover at PLN 44 mln, compared to its previous forecast of PLN 30 mln.

Orbis reveals ambitious plans

POLAND Grupa Hotelowa Orbis is to stop building its own hotels from 2014 and focus on developing its chain through franchising and management contracts.

Dolcan announces plans for 2013

POLAND In 2013 Dolcan is to put 782 apartments on the market. The developer is also to start construction work on the second stage of its Ogrody Ochota estate in Warsaw, an investment of app. PLN 90 mln.

Robyg secures Warsaw estate finance

POLAND Grupa Robyg has borrowed PLN 15 mln from Millennium bank to finance a residential project on al. Rzeczypospolitej in Warsaw’s Wilanów district.

Haapsalu fined for tender irregularities

ESTONIA The town of Haapsalu is to lose EUR 100,000 in grants from Enterprise Estonia due to irregularities in the tender procedure for the general contractor of the town’s cultural centre.

Strong online sales growth

CZECH REPUBLIC Internet sales reached CZK 43 bln (EUR 1.68 bln) in the Czech Republic in 2012, which is the equivalent of 46 shopping centres, according to Cushman & Wakefield.

WebMediaGroup joins Tropicano club

RUSSIA WebMediaGroup, a company that provides online games, video and retail, has leased 1,037 sqm of office space in the Tropicano business centre on ulitsa Krasnaya Presnya in Moscow.

EIB invests EUR 250 mln in Croatia

CROATIA The European Investment Bank is to lend EUR 250 mln to the Croatian Bank for Reconstruction and Development (HBOR) to finance a number of projects throughout the country, including infrastructure projects supported by local authorities and tourism schemes.

Schoenherr in Le Palais

POLAND Law firm Schoenherr has leased over 700 sqm in Le Palais on ul. Próżna in Warsaw.

No Limit extends Polish boundaries

POLAND Logistics operator No Limit has leased warehouses in Pruszków and Wrocław with a total space of 15,000 sqm.

JLL to sell Sheraton Kraków and Hilton Sofia

POLAND/BULGARIA Jones Lang LaSalle Hotels & Hospitality Group has been appointed as the exclusive agent for the sale of the freehold interests of the Sheraton Kraków and Hilton Sofia hotels.

Work soon to start of Galeria Warmińska

POLAND Construction work should begin within the next few days on the Galeria Warmińska shopping centre in Olsztyn.

Wzgórze extension reaches shell stage

POLAND Mayland Real Estate has finished the shell stage of the extension to the Wzgórze shopping centre in Gdynia.

Erbud denies responsibility for runway damage

POLAND “Erbud has ruled out the possibility that errors were made in the construction of the runway at Modlin airport”, Józef Zubelewicz, the president of the management board of Erbud, the general contractor of the project, has stated at a press conference.

Kristensen Group makes plans

POLAND This year Kristensen Group plans to launch the second stage, comprising 12 homes with 24 apartments, of its holiday home estate on ul. Komuny Paryskiej in Karpacz.

Czerwona Torebka obtains loan warranty from Alior Bank

POLAND Czerwona Torebka has concluded a loan repayment guarantee agreement with Alior Bank for a loan taken out by its subsidiary Piętnasta-Czerwona Torebka from the same bank.

KPP changes PM