News

ROMANIA The EU has approved over EUR 210 mln in financing for the 26.5 km Timișoara–Lugoj motorway as well as a bypass around Timișoara (9.5 km).

Roda Centar now open

SERBIA Mercator-S has opened the Roda Centar retail centre in Kruševac.

Adriatic Luxury to take full control of two hotels

CROATIA Adriatic Luxury Hotels has been given permission by Croatia’s financial regulator to purchase all the shares it does not own in two hotels in Dubrovnik.

Delano Moscow to open in September

RUSSIA Morgans Hotel Group has announced plans to open the Delano Moscow hotel in September 2012.

AFI Europe retail park for Arad

ROMANIA AFI Europe has been granted a building permit to start construction work on a hypermarket and a DIY store within the AFI Palace Arad retail park.

Office activity on the rise

ROMANIA Approximately 130,000 sqm of office space is actively under construction and expected to be delivered in the next 18 months in Bucharest, according to Colliers International.

C&W to manage IGY offices

CZECH REPUBLIC Cushman & Wakefield has been appointed manager of the office section of IGY Centrum in České Budějovice by the property’s owner, CPI Group.

Hotels given the star treatment

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