Investment & finance

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Investment & finance

IVG seeks creditor protection

schedule 21 August 2013
Nathan North
managing editor (English section)

EUROPE German real estate investor IVG Immobilien is to apply to the district court in Bonn to open protective shield proceedings to allow the company to restructure itself through self-administration.

Most expensive industrial land in Warsaw

schedule 20 August 2013

POLAND The average price for industrial investment land is currently around PLN 130–160 per sqm, according to a report by Axi Immo.

Investment & finance

TUP changes tack and becomes Alta

schedule 19 August 2013
Aneta Cichla

POLAND TUP has announced a new strategy to focus exclusively on the construction of Siewierz Jeziorna in Siewierz (Silesia) – a project to develop a sustainable town district.

Investment & finance

“Buyer found” for Fashion Arena Outlet Centre

schedule 19 August 2013
Nathan North
managing editor (English section)

CZECH REPUBLIC A buyer has been found for the Fashion Arena Outlet Centre in Prague, according to the ‘Hospodářské noviny’ newspaper.

Investment & finance

Sjælsø declared bankrupt

schedule 19 August 2013
Nathan North
managing editor (English section)

EUROPE Danish developer Sjælsø Gruppen has been declared bankrupt after efforts to restructure the heavily indebted company were terminated.

Investment & finance

LC Corp to buy RB Finance Expert

schedule 14 August 2013
Aneta Cichla

POLAND Warsaw Stock Exchange listed company LC Corp is to buy a 100 pct stake in RB Finance Expert from LC Corp BV of Amsterdam (the largest shareholder of LC Corp and controlled by Leszek Czarnecki).

Profits increasing for AFI

schedule 14 August 2013

CEE REGION AFI Properties has registered an income for the first half of EUR 51 mln, up by 32 pct on the same period of 2012. Over the period the company’s operating income reached EUR 32.3 mln, up by 47 pct.

Mirland earning more

schedule 14 August 2013
Rafał Ostrowski
journalist

RUSSIA Mirland Development Corporation has recorded USD 23.8 mln in revenues in the first half of this year, which represents a 19 pct increase compared to USD 20 mln in H1 2012.

Pessimism but some positivity, says RICS

schedule 13 August 2013
Aneta Cichla

EUROPE Poland is one of the most attractive markets for investors, according to the Global Commercial Property Survey by the RICS, despite Polish market experts being more pessimistic than those in Germany.

UOKiK says thrice yes

schedule 13 August 2013
Aneta Cichla

POLAND UOKiK, the Office of Competition and Consumer Protection, has issued three decisions impacting on the real estate market.

Slide in land prices slows

schedule 13 August 2013
Nathan North
managing editor (English section)

POLAND Around 80–85 pct of Polish land acquisitions were for sites in Warsaw in H1, according to a report by Colliers International.

Profit growth for X5

schedule 13 August 2013
Rafał Ostrowski
journalist

RUSSIA Food retailer X5 Retail Group recorded app. USD 4.2 bln in net sales in the second quarter, representing a growth of 5.9 pct y-o-y.

Investment & finance

Twierdza Modlin sold... at last

schedule 13 August 2013

POLAND A buyer has finally been found for Twierdza Modlin in the ninth auction of the 19th century fortress.

PIK Group buys land for residential complex

schedule 12 August 2013
Rafał Ostrowski
journalist

RUSSIA PIK Group has acquired 96.2 pct of the shares of the Tretii Taksomotorny Park [3-ий таксомоторныйпарк] taxi company, the owner of a 1,6 haplot located on Vavilov street in an upmarket district to the southwest of Moscow’s historic centre.

Investment & finance

Altus sold to Izera

schedule 12 August 2013

POLAND A buyer has finally been found for the Altus building in Katowice: Izera, which has bought the property for PLN 185 mln after three public auctions.

Mostostal Warszawa borrows PLN 38 mln

schedule 12 August 2013
Aneta Cichla

POLAND Mostostal Warszawa has borrowed EUR 9 mln (app. PLN 38 mln) from Acciona Infraestructuras.

Investment & finance

UGL announces plans for DTZ demerger

schedule 12 August 2013
Nathan North
managing editor (English section)

WORLD Australian construction group UGL has today officially announced its plans for a demerger with DTZ. Both companies are to be listed on the Australian Securities Exchange (ASX), with UGL to revert to focusing on construction and engineering and DTZ to concentrate on property services.

Investment & finance

Central Group makes bid for Dancing House

schedule 12 August 2013
Nathan North
managing editor (English section)

CZECH REPUBLIC Residential developer and investor Central Group has today officially offered to buy Tančící dům (the Dancing Building or ‘Fred and Ginger’) in Prague for CZK 250 mln (app. EUR 9.65 mln).

Lower profits for Berlin Hyp

schedule 12 August 2013

EUROPE Berlin Hyp generated EUR 51.2 mln before tax and profit transfer in the first half, lower than the result for H1 2012 when the company made EUR 57 mln.

Investment & finance

Creditors outline IVG restructuring plan

schedule 12 August 2013

EUROPE The creditors of IVG Immobilien have put forward a restructuring plan for the company, which among other measures includes a simplified capital reduction down to 0.5 pct of the share capital of the company as well as a debt-to-equity swap (after which the creditors will hold 80 pct of the company's share capital).

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