Investment &amp; finance

POLAND The dynamic growth of the Czerwona Torebka group has contributed to an increase in its consolidated revenue in the first half of the year.

CEE commercial investment volumes slow down "temporarily"

03 September 2014

CEE REGION Although in H1 2014 commercial real estate investment volumes in Eastern Europe have reached EUR 3.6 bln, a marginal slow down compared to the last year, they will soon accelerate again, says Colliers International in its latest study.

Secure Property enlarges and differentiates Romanian portfolio

03 September 2014

ROMANIA Secure Property Development & Investment, a Cyprus-based SEE-focused real estate investor, has made another property purchase in Romania. The London-listed company bought a EUR 3.3 mln residential portfolio comprised of 122 apartments situated in four Bucharest complexes.

HB Reavis issues EUR 30 mln of bonds

SLOVAKIA HB Reavis has closed its inaugural bond transaction on the Bratislava stock market by raising EUR 30 mln, bringing the total funds of HB Reavis raised on the capital markets since November 2013 to over EUR 63 mln.

EM&F to close fashion franchise by year-end

POLAND Empik Media & Fashion wants to close down its franchise of 90 fashion stores by the end of the year.

CEE markets co-determine Auchan’s H1 surge

EUROPE/CEE REGION In H1 2014, French grocer Auchan has posted a healthy growth, driven mostly by its Eastern European and Chinese operations. From running a total of 1,006 hyper- and 2,746 super- markets around the globe, Groupe Auchan generated a consolidated revenue incl. tax of EUR 31.2 bln, up 4.7 pct y-o-y.

Mint Investments buys Astra and Euro

CZECH REPUBLIC Mint Investments has announced the acquisition of Palác Euro and Palác Astra in Wenceslas Square (Václavské náměstí) in Prague for EUR 40 mln.

Redan secures investor for Textilmarket

POLAND Clothing group Redan has signed an investment contract to sell a minority stake in Adesso – the owner of the Textilmarket chain of discount stores.

Asbud takes over Karolkowa Business Park

POLAND Israeli development group Asbud has become the sole owner of Karolkowa Business Park in Warsaw’s Wola district.

Israeli developer sees increased rental income in Russia, profit dips

RUSSIA AFI Development, a Russian subsidiary of the Israeli-based Africa Israel Investments development and construction holding, has seen a 9 pct y-o-y increase in rental and hotel operating income in the first half of the year, to US 74.8 mln (EUR 56.9 mln). However, the company’s revenues plunged to US 76.2 mln (EUR 58 mln), compared to US 123.9 mln (EUR 94.3 mln) in H1 2013.

Global City Holdings profits up to EUR 13.9 mln

POLAND The net profit of Global City Holdings (formerly Cinema City International) for the first half of the year increased to EUR 13.9 mln from EUR 8.1 mln in H1 2013.

Warimpex hotels hit by Russian-Ukrainian crisis

CEE REGION In H1 2014, Vienna-headquartered developer Warimpex has seen a EUR 10.8 mln loss y-o-y with a 7 pct y-o-y decrease in total revenues. The latter broke down into a 9 pct y-o-y drop in the company's hotels revenues dropping, a 33 pct y-o-y slide in the development & services revenues and a 19 pct y-o-y surge in the investment properties revenues.

Revenue boost for P.A. Nova

POLAND Construction and development company P.A. Nova’s sales revenue increased by app. PLN 12 mln, from PLN 67 mln after the first six months in 2013 to almost PLN 79 mln in the January–June 2014 period.

Orco value plummets after disposals

CEE REGION Orco Property Group registered as loss of EUR 63 mln for the first half of the year, which the company attributes mostly to the loss of revenue and impairments due to the disposal of shares in its German residential subsidiary GSG Group and the site for its proposed Bubny retail development in Prague.

Echo profits grow by 40 pct

POLAND Echo Investment closed the first half of the year with a net profit of PLN 424.8 mln, which constitutes a growth of almost 40 pct on the same period in 2013.

Mirbud increases revenue and issues bonds

POLAND In the first half of the financial year Mirbud group generated revenue of PLN 501.3 mln, representing an almost twofold growth on the PLN 267.5 mln registered in H1 2013.

Orbis sees growth in profits

POLAND The profit generated by Grupa Orbis in the first half of the year amounted to PLN 22 mln – an almost 20 pct increase on H1 2013.

Goldman Sachs doubles its stake in O1 Properties

29 August 2014

RUSSIA Goldman Sachs International has bought another 6 pct of O1 Properties’ shares, thus increasing its stake in the Russian developer to 12 pct.

Warsaw and Budapest drive CEE office performance

29 August 2014

EUROPE/ CEE REGION In Q2 2014, European prime office rents have increased by 0.4 pct, slightly lower than at the beginning of the year when they hit 1.1 pct. Meanwhile, leasing volumes in Europe reached 2.8 mln sqm, a 19 pct quarter-over-quarter increase and an 11 pct year-over-year surge, according to the latest study by JLL.

Orco to delist from Prague next month

28 August 2014