News

CZECH REPUBLIC Next year Czech hotels are to be classified under the Hotelstars Union star rating system, according to an announcement by The Czech Association of Hotels and Restaurants.

Savills predicts EUR 2 bln investment by year-end

POLAND Commercial property investment volumes in Poland are set to exceed EUR 1 bln in the second half of 2012, beating the H1 volume recorded at EUR 856 million, according to consultancy Savills.

Ikea moves into hotels

EUROPE Inter Ikea, the property arm of the Ikea Group, is planning to develop a budget hotel chain across Europe, according to the ‘Frankfurter Allgemeine Zeitung’.

GTC still in the red

CEE REGION Globe Trade Centre has released its results for H1 2012. Gross profit from operations came to EUR 47 mln, which was unchanged compared to H1 2011.

ADP leases 5,800 sqm in River Garden

CZECH REPUBLIC Outsourcing company Automatic Data Processing (ADP) has leased 5,800 sqm of office space in the River Garden Office building in Karlín (Prague 8).

Silver City sale completed

RUSSIA O1 Properties has today announced that it has finalised its acquisition of the Silver City business centre in Moscow from Evans Randall for USD 333 mln.

Seven offers for Uzdrowisko Horyniec

POLAND Seven companies are interested in purchasing a 89.26 pct stake in Uzdrowisko Horyniec in Horyniec Zdrój.

Erbud at the border

POLAND Erbud has been commissioned by Lubelski Zarząd Obsługi Przejść Granicznych (the Lublin Border Crossing Management Service) to extend the border crossing in Zosin.

Mermaid Properties signs leases and plans new projects

POLAND Mermaid Properties has leased a total of 5,400 sqm. The developer has signed leases for 2,710 sqm in the Cross Point office building in Łódź, 2,500 sqm in the Libra Business Centre complex in Warsaw and 210 sqm in Pałac Młodziejowskiego also in the capital.

5-star hotel for Šibenik

CROATIA Doğuş group is to build a tourist resort, including a five-star hotel and various sports and entertainment facilities in Šibenik.

Residential prices rise

ESTONIA The average price of apartments in Q2 2012 was up by 6.9 pct on the same period of the previous year according to figures from Statistics Estonia.

Bilfinger Berger publishes results

WORLD Bilfinger Berger has released its results for Q2 2012. The company’s output volume increased by 2 pct to EUR 4.12 bln.

‘Gold’ for Eurocentrum core and shell

POLAND Eurocentrum Office Complex on Al. Jerozolimskie in Warsaw, has completed the second of three stages of LEED certification (core & shell) at the ‘Gold’ level.

GDDKiA gets PLN 22 mln for A4

POLAND The Treasury has been awarded PLN 22 mln in bank guarantees due to the failure of Radko to properly implement its contract.

Poor results for Helios

POLAND In Q2 this year the operating revenue of Helios cinemas decreased by 13.2 pct, down to PLN 34.3 mln.

Government sells 20 pct of Marina Hotele

POLAND The Ministry of Treasury wants to offer a 20 pct stake in the Marina Hotele company. An auction of 252 shares (20.1 pct of the share capital) is to take place on September 13th.

ABM to enter liquidation

POLAND ABM Solid has accepted the request of a court appointed administrator to move from a bankruptcy open to arrangement to enter into liquidation procedures.

Obstacles in the path of Nowy Sezam

POLAND The Moniuszki 10 Housing Cooperative has filed an objection against the final land development conditions decision for the Nowy Sezam project on ul. Marszałkowska in Warsaw, which is being developed by BBI Development.

Strabag to redevelop provincial road no. 653

POLAND Strabag has signed a contract with the Podlaskie Province Road Authority to redevelop the Suwałki-Bakałarzewo section of provincial road no. 653.

Redan: bonds worth up to PLN 10 mln