News

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

POLAND Keen Property Partners Retail (KPP Retail) is to change the property management structure in two of its Polish shopping centres.

Bouygues and Ave Ester set up joint company

POLAND Bouygues has bought a stake of over 50 pct in Woodsia from Ave Este Luxembourg, which possesses 100 pct of the founding capital of the firm.

Orco demands EUR 32 mln in damages

CROATIA Orco Property Group has filed a request for arbitration against the State Property Management Agency of the Republic of Croatia.

Building permit for IKEA Zagreb

CROATIA IKEA has received a building permit to build a store in Zagreb, according to local media reports.

GTC cancels sale of three centres

ROMANIA Globe Trade Centre (GTC) and an undisclosed international private investor have decided to cancel a sale transaction for three small shopping centres in Romania.

Eli Lily comes to Business Garden Warszawa

POLAND SwedeCenter has leased more than 1,100 sqm of office space in its Business Garden Warszawa office centre to Eli Lilly.

Le Méridien Lav up for sale

CROATIA Grand Hotel Lav and Grand Marina Lav, the two companies which jointly own the Le Méridien Lav hotel outside Split and the adjoining resort and marina, have been put up for sale by their sole shareholder, Hypo Alpe-Adria-Bank International.

Tesco re-signs with Prologis for 86,400 sqm

SLOVAKIA Tesco signed two lease renewals for warehouse space at the end of last year totalling 86,400 sqm in Slovakia.

One more star for Start

POLAND The Start hotel Atos on ul. Mangalia in Warsaw, which is owned by the Satoria Group, has been awarded another star by the Masovian provincial government to become a two-star facility.

J.P. Morgan chooses C&W for Budapest portfolio

HUNGARY J.P. Morgan Asset Management has appointed Cushman & Wakefield as the property manager for a 43,000 sqm Budapest office portfolio.

Manhattan strategy change pays off

POLAND In 2012 the Manhattan shopping centre in Gdańsk registered an increase of over 10 pct in turnover and footfall on the previous year.

Ade Line to close Flo shops

POLAND Ade Line is planning to close all of its 21 Flo stores. The company is closing down the brand after failing to find a partner to help develop it.

One & Only comes to Europe

MONTENEGRO Kerzner International Holdings has signed an agreement with Triangle Investment and Development to develop and operate a One & Only resort in Kumbor overlooking Tivat Bay.

Revenue growth for IKEA

WORLD The IKEA group has published its results for the 2012 financial year (from the September 1st 2011 until August 31st 2012).

Polnord redeems bonds

POLAND Polnord has redeemed bonds worth PLN 65.5 mln. The bonds were divided into three tranches worth PLN 19, 20 and 26.5 mln.

Grupa TUP in the red

POLAND TUP group generated PLN 2 mln in net revenue in 2012.

C&W leases and sells Interfruct properties