News

Half of Erbud’s profits could be paid in dividends

POLAND After its application has been assessed by the supervisory board, the management board of Erbud will recommend a dividend ranging from 30 to 50 pct of the net financial result generated in the previous financial year at a company general meeting.

Construction

Warbud to renovate Vilnius embassy

LITHUANIA Warbud has been chosen to modernise the palace of the Pac family – the future Polish Embassy – in Vilnius.

Investment & finance

Atrium sells ten Czech retail centres

CZECH REPUBLIC Atrium European Real Estate has completed the sale of a portfolio of ten retail assets in the Czech Republic to a private client account managed by Palmer Capital for EUR 102.6 mln.

Warehouse & industrial

Panattoni attracts two to Szczecin

POLAND Panattoni Europe has leased out 11,600 sqm of space to two new tenants in Panattoni Park Szczecin.

Office & mixed-use development

Marked increase in regional tenant activity

POLAND Annual take-up on the Polish office market increased by 40 pct y-o-y across the country compared to 2014, according to the latest ‘Property Times Office Poland’ report by Cushman & Wakefield.

More guests come to Russian hotels

RUSSIA In 2015, the average hotel occupancy in Moscow grew by 2.7 percentage points y-o-y, reaching 67.5 pct, while in St Petersburg it grew by an impressive 7.3 percentage points, reaching a solid 64.3 pct for the year, according to JLL.

Office & mixed-use development

HB Reavis signs 2,000 sqm new leases

POLAND HB Reavis has signed four new leases for office and retail space in two Warsaw projects.

Polish ministries bash new retail tax

POLAND Seven Polish ministries have submitted their reviews of the new retail tax law proposed by the Ministry of Finance. They criticise the scope of the new legal regulations and the way the new levy is to be charged, and worry about the negative impact it could have on Polish businesses and customers.

Investment & finance

E.Leclerc buys Aviator mall

POLAND Pergranso, a subsidiary of the SOFILEC group (the owner of the E.Leclerc grocery chain), has acquired the Galeria Aviator shopping centre project which is currently being developed in Mielec.

Office & mixed-use development

Gdynia Waterfront in gold and platinum

POLAND The two buildings that form the first phase of the Gdynia Waterfront mixed-use complex have been awarded green certificates.

Office & mixed-use development

Tenants float into Zefir

POLAND The first centre of Gaca System (1,700 sqm), the offices of the Provincial Marshal, Prorem-Agro as well as a start-up area are to be located in the Zefir office building, which is developed at ul. Żabi Kruk 16 in Gdańsk.

Office & mixed-use development

Vestor chooses Q22

POLAND Vestor Dom Maklerski has leased 1,080 sqm in the Q22 building in central Warsaw. The financial brokerage company is to move into its new headquarters in H2 2016.

Office & mixed-use development

First tenant secured for Grzybowska 43

POLAND The first lease for the Grzybowska 43 office building in central Warsaw has been signed with Newcon Hospitality Group.

Investment & finance

Kotva sold for EUR 80 mln

CZECH REPUBLIC The Kotva department store on Naměstí Republiky in central Prague has been bought by Pražská Správa Nemovitostí, a company owned by property magnate Václav Skala – according to E15.

Mall in Kyiv to shut down

UKRAINE The Alta Center shopping centre on Moskovs'kyi Ave in Kyiv will soon be closing down, according to Ukrainian web portal Retail Community.

The wheels are now moving on the Eurobuild Awards 2016!

Foreign investment hits historic lows

RUSSIA In 2015 foreign investment in commercial real estate in Russia amounted to USD 540 mln, according to research by Knight Frank.

Budimex to build S3 road

POLAND A consortium of Budimex and Ferrovial Agroman has signed a PLN 153.2 mln net contract with the Zielona Góra division of the General Directorate of National Roads and Motorways on the construction of the second lane of S3 expressway in the Sulechów – Nowa Sól section (section III).

Strabag wins another GDDKiA contract

POLAND Strabag has been commissioned by the General Directorate for National Roads and Highways (GDDKiA) to design and build the S8 expressway between Radziejowice and Przeszkoda (Żyrardów county) in a contact worth EUR 57 mln.

Residential

Planetbud develops Osiedle Liliowe

POLAND Osiedle Liliowe residential project is to be erected on ul. Cieszkowskiego in Swarzędz.