Investment &amp; finance

POLAND Griffin Group has appealed against the ruling of the district court in Warsaw to remove the company’s perpetual usufruct right to site of the former Tsarist barracks on ul. 29 Listopada next to Łazienki Park.

Dragon increases shareholding in Henryland

UKRAINE Dragon Capital Investments has acquired East Capital’s 50.45 pct stake in Henryland Group’s for USD 13.77 mln.

Immofinanz to pay dividend

EUROPE Immofinanz Group is planning to pay a EUR 0.15 dividend per share despite a 59.1 drop in profits for the financial year 2012/2013.

IVG seeks creditor protection

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

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.

TUP changes tack and becomes Alta

19 August 2013

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.

“Buyer found” for Fashion Arena Outlet Centre

19 August 2013

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

Sjælsø declared bankrupt

19 August 2013

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

LC Corp to buy RB Finance Expert

14 August 2013

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

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

14 August 2013

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

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

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

Slide in land prices slows

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

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.

Twierdza Modlin sold... at last

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

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.

Altus sold to Izera

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

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

UGL announces plans for DTZ demerger