Investment &amp; finance

POLAND IVG has bought the Norway House office building in Warsaw. The seller is a fund managed by Pramerica.

Raiffeisenbank provides Krakov finance

10 September 2012

CZECH REPUBLIC Raiffeisenbank is providing more than CZK 500 mln (app. EUR 20.4 mln) in project finance for the Centrum Krakov project in Bohnice, Prague 8.

Murapol has land for Nowe Winogrady

06 September 2012

POLAND Murapol Nowe Winogorady has reached a settlement with Bank Gospodarstwa Krajowego and taken on the debt of the former owner of the land on which the Nowe Winogrady estate in Poznań is to be built.

Poleczki hotel sold

06 September 2012

POLAND UBM has sold a hotel in Warsaw’s Poleczki Business Park complex to BRE Leasing.

Better results for Wikana

POLAND Wikana recorded revenues of PLN 37.5 mln for H1 2012. Its gross profit from sales amounted to PLN 11 mln, which constitutes an increase of almost 102 pct on the same period of the previous year.

Three companies interested in Lublin bus station

POLAND Three investors, including Echo Investment, HB Reavis Poland and Karmar, have made offers to develop the Lublin bus station.

Erbud suffers 15.5 pct fall in revenue

POLAND In the first half of 2012 Erbud generated revenue of PLN 580 mln from its core activities, which constitutes a 15.51 pct decrease compared to the same period last year.

Indian group buys Ohrid hotel

MACEDONIA The Roy Subrata Group of India has bought the Slavija hotel in Ohrid.

SCD faces legal action

HUNGARY The Hungarian state is suing SCD group for a HUF 2.5 bln (app. EUR 8.7 mln) indemnity resulting from its failure to develop tourist facilities on land it bought from the state around lake Balaton in 2004 and 2005.

EU provides PLN 3.5 bln for roads

POLAND The General Directorate of National Roads and Motorways (GDDKiA) has signed contracts to provide PLN 3.5 bln of supplementary financing for the construction of two sections of expressway sections: the S8 Walichnowy–Łódź and the S14 Pabianice the ring road.

ECM close to liquidation

CZECH REPUBLIC The long drawn-out affair of developer ECM’s bankruptcy is soon to come to an end.

Makrum gives away the plots

POLAND Makrum has decided to sell five plots. The land includes a 94,700 sqm plot with on ul. Sułkowskiego, ul. Kamienna and ul. Dwernickiego in Bydgoszcz, where Makrum has already been granted a building permit for a shopping centre.

Olomouc City sold to Mint Investments

CZECH REPUBLIC The Olomouc City shopping centre in Olomouc was sold today at auction for CZK 373 mln (app. EUR 15 mln) to Mint Investments.

Vistula Group plans to expand network

POLAND Vistula Group, the owner of the Wółczanka, Vistula, W. Kruk and Deni Cler chains, registered a consolidated sales revenue of PLN 187.5 mln in H1 2012, representing a 6.3 pct rise on the same period of 2011.

Gant Development reduces debts

POLAND Gant Development group generated PLN 99.3 mln of positive cash flow on its operating activity in H1 2012, mainly due to cash payments from apartment buyers.

J.W. Construction releases H1 results

POLAND J.W. Construction Holding generated revenues of PLN 155.4 mln in H1 2012, down from PLN 218.7 mln in the same period last year.

Big H1 loss for PBG

POLAND In the first half of 2012 the sales revenue of PBG decreased by 29 pct to PLN 1.04 bln compared to H1 2011.

Secure Property Development & Investment ends dispute over land

UKRAINE Secure Property Development & Investment (formerly known as Aisi Realty) has settled a legal case regarding the company’s 23 ha Aisi Bela site in Odessa.

ČSOB refinances HB Reavis park

SLOVAKIA HB Reavis has announced that it has secured new bank financing for its¬ Logistics Center Bratislava Svätý Jur complex.

Olomouc City goes under the hammer