Investment &amp; finance

POLAND Bomi, which has been declared bankrupt open to arrangements, has suggested modifying the repayment provisions with the banks which are its main creditors.

Supply outstripping demand

BULGARIA No major changes are predicted on the Bulgarian real estate market for 2013, according to Colliers International.

Profits up for Savills

WORLD Real estate consultancy Savills saw revenues rise by 12 pct over 2012.

Global investment up

WORLD In 2012 the value of global property investments increased by 6 pct to USD 929 bln (EUR 714 bln), according to the ‘International Investment Atlas’ by Cushman & Wakefield.

UOKiK scrutinises Real and Auchan deal

POLAND The European Commission has handed over the responsibility for approving the takeover of Real by Auchan to the Office of Competition and Consumer Protection (UOKiK).

CEE REGION Investment activity in Poland, the Czech Republic, Slovakia, Hungary and Romania increased significantly in Q4 2012 to EUR1,826 mln, almost matching 2007 levels, and ahead of the EUR 536 mln invested in Q3 2012, according to figures from Cushman and Wakefield.

Best European property returns in Poland

09 January 2013

WORLD Globally, total returns on property shares and other assets came to 29.8 pct in local currencies and 26.6 pct when measured in euros, according to figures from the Global Property Research In Europe the same figure came to 29.5 pct measured in euros.

ECM assets sold

09 January 2013

CZECH REPUBLIC ECM has sold its shares in Epoque-Lancaster and Epoque Hotel, two SPV companies that were established to develop skyscrapers in Pankrác plateau. Raiffeisenbank, which was financing the project, has been repaid.

Mall project and supermarket go under the hammer in forced sale

08 January 2013

On January 10th liquidators RVA Insolvency Specialists is to auction off a shopping centre that is under construction as well as a supermarket. Both properties are in Focşani and owned by bankrupt investor Omnium Invest.

Real estate agents punished by UOKiK

POLAND The Office of Competition and Consumer Protection (UOKiK) has fined the Metrohouse & Partnerzy and Bracia Strzelczyk real estate agencies a combined total of nearly PLN 90,000.

Redan pays off its debts

POLAND In accordance with the debt restructuring agreement agreed with its creditors, Redan has issued 57,422 three-month D-series bonds with a value of just over PLN 5.74 mln to bondholders in exchange for their A-series bonds worth over PLN 5.5 mln.

Euromark faces liquidation

POLAND A court of Warsaw has granted the petition of Bank Millennium for the bankruptcy and liquidation of Euromark Polska and has appointed administrators.

Rank Progress builds shopping centre in Wejherowo

POLAND Rank Progress together with a partner has won a public tender to buy a 22,500 sqm plot of land in the centre bordered by ul. Sienkiewicza, ul. Wałowa, ul. Srebrny Potok, and ul. Św. Jana for PLN 7 mln net.

SOFAZ buys Gallery Actor

RUSSIA The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has purchased the Gallery Actor mixed-use office and retail complex at 16 Tverskaya ulitsa in Moscow for USD 133 mln.

Investment volumes at EUR 7.4 bln for 2012

CEE REGION Investment volumes for the CEE region in 2012 reached EUR 7.4 bln, according to figures from CBRE, representing a 35 pct decrease y-o-y.

Immofinanz sells Prague office building

CZECH REPUBLIC Immofinanz Group has sold the BB Centrum Building ‘C’ in Prague to the VIG fund for an undisclosed price.

LPP sees revenue rise

04 January 2013

POLAND LPP, the owner of clothing brands Reserved, House, Mohito and Cropp Town has recorded sales revenue for 2012 of PLN 3.2 bln, a 29 pct increase on 2011.

Two health centres in local council hands

04 January 2013

POLAND The health centres in Świnoujście and Kołobrzeg have been taken over by local government authorities using a new government regulation allowing for the transfer of ownership of those centres excluded from the recent privatisation process.

Another mall declared insolvent

04 January 2013

ROMANIA The Grand Arena Mall in Bucharest has been declared insolvent after three construction companies (Arcon Constructions, Climatehnic and CZ & C) petitioned the courts for repayment of debts, according to local media.

Blackstone buys restaurant building in Kłodzko

03 January 2013