News

POLAND New tenants have signed leases for space in the Łacina shopping centre project in Poznań.

Atrium 1 reaches full height

POLAND The Atrium 1 office building in Warsaw, which is being developed by Skanska, has reached its full height and is moving towards completion later this year.

Colgate to invest EUR 24 mln in factory expansion

POLAND American company Colgate-Palmolive has started work on the expansion of its plant in Świdnica. Investments costs are expected to reach at least PLN 102.5 mln (EUR 24 mln) by the end of 2015.

PSN to develop USD 70 mln Moscow project

RUSSIA PSN Group is planning to complete the development of the Aerodom Business Centre on Leningradskiy Prospekt in northern Moscow in the first quarter of 2014.

Hotels

Olympic Entertainment plans Tallinn Hilton

ESTONIA Olympic Entertainment Group is to develop a 202-room Hilton hotel on the site of the current Reval Park Hotel & Casino in Tallinn in an investment of around EUR 36 mln.

Warsaw office stock now over 4 mln sqm

POLAND The total stock of modern office space in Warsaw now exceeds 4 mln sqm, according to data for H1 2013 published by the Warsaw Research Forum.

BULGARIA Modern industrial and logistics stock increased by 28,300 sqm in Sofia region to 764,000 sqm in Q2, representing a 3.85 pct growth on the previous quarter – according to the latest Bulgarian Industrial Market report by Forton.

Investment & finance

Hines with 50 pct stake in Metropolis

RUSSIA Hines CalPERS Russia Long Term Hold Fund (HCRLTH) has revealed that the stake it recently bought in the Metropolis shopping centre in Moscow from the Morgan Stanley Real Estate Investing (MSREI) fund amounted to 50 pct.

Investment market up by 60 pct

CEE REGION The overall CEE investment volume in the first half of the year amounted to EUR 4.5 bln, 60 pct higher than in H1 2012 – according to the latest CEE Property Investment Market View report by CBRE.

Investment & finance

Rank Progress pulls out of Galeria Chełmska talks

Property and Facility Management

POLAND Legnica-based developer Rank Progress has pulled out of negotiations to buy into the Galeria Chełmska shopping centre project in Chełm.

Plejada sticks with C&W

POLAND St Martins, the owner of Plejada shopping centre in Sosnowiec, has renewed its property management contract with Cushman & Wakefield.

Residential

Work begins on third building of Rezydencja Park

POLAND Mielno Holding-Firmus Group has started construction work on the third Rezydencja Park luxury apartment building in Mielno.

St Petersburg warehouses to become offices

RUSSIA A seven-storey business centre with a total area of 21,000 sqm and a four-star hotel are to be developed on a former industrial area in the Moscovskiy district of St Petersburg.

Higher occupancy with lower profits for Orbis

POLAND Orbis has reported revenue of PLN 316.9 mln for H1 2013, 11.7 pct down on the first half of the previous year.

Green projects

T-Mobile Office Park achieves BREEAM ‘Excellent’

POLAND T-Mobile Office Park has become the first office building in Poland to be awarded a BREEAM with a grade of ‘Excellent’.

Retail & leisure

Double-digit growth for Turawa Park

POLAND The Turawa Park shopping centre in Opole has registered a 16 pct increase in footfall for Q2 compared to the same period of 2012.

Retail & leisure

Five tenants for Fashion House Outlet Centre Sosnowiec

POLAND Five more tenants have signed leases in Fashion House Outlet Centre in Sosnowiec.

Plaza Centers sells Prague 3 project

CZECH REPUBLIC Plaza Centers has completed the sale its 100 pct stake in the vehicle that owns its Prague 3 project in the city’s third district to an unnamed investor.

Two re-sign for Rondo 1

POLAND Two tenants have re-signed contracts for office space in the Rondo 1 skyscraper in central Warsaw.

Hotels

Four investors compete for Polskie Tatry