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Investment & finance
Indian group buys Ohrid hotel
Eurobuild CEE | 05 September 2012
MACEDONIA The Roy Subrata Group of India has bought the Slavija hotel in Ohrid. The hotel comprises has 17 luxury suites, with six triple and 27 double rooms. (Source: MIA)
Investment & finance
EU provides PLN 3.5 bln for roads
Eurobuild CEE | 05 September 2012
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. The money comes from the EU ...
Investment & finance
Makrum gives away the plots
Eurobuild CEE | 05 September 2012
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. The estimated value of this property is PLN 104 mln. ...
Investment & finance
Vistula Group plans to expand network
Eurobuild CEE | 04 September 2012
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. Its EBIT was PLN 12.5 mln, which compares to PLN 11.5 mln in the first six months in ...
Investment & finance
J.W. Construction releases H1 results
Eurobuild CEE | 04 September 2012
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. Its operating profit also fell from PLN 47.2 mln to PLN 40.2 mln over the twelve months, while its net profit shrank from PLN 24.7 mln to PLN 8.6 mln. The ...
Investment & finance
Secure Property Development & Investment ends dispute over land
Eurobuild CEE | 04 September 2012
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. The settlement of the dispute has also resulted in a small profit for the company due to the release of a USD 1.5 mln provision ...
Investment & finance
Olomouc City goes under the hammer
Eurobuild CEE | 04 September 2012
CZECH REPUBLIC The Olomouc City shopping centre is to be auctioned on Wednesday, September 5th in Prague. Naxos, the auctioning house organising the sale, estimates the value of the app. 20,000 sqm centre (completed in 2000) at CZK 430 mln (EUR 17.3 mln) and will open the bidding at CZK 215 mln ...
Investment & finance
Segro buys Ożarów Business Centre
Eurobuild CEE | 04 September 2012
POLAND UK industrial developer Segro has completed the acquisition of the Ożarów Business Centre logistics park 16km west of Warsaw for EUR 14.1 mln. The seller was the Endurance Real Estate Fund, managed by Orco Property Group. The 36,600 sqm complex comprises four standalone buildings for ...
Investment & finance
SCD faces legal action
Eurobuild CEE | 05 September 2012
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. Having purchased the Siotour tourism company, SCD promised to invest over HUF ...
Investment & finance
ECM close to liquidation
Eurobuild CEE | 05 September 2012
CZECH REPUBLIC The long drawn-out affair of developer ECM’s bankruptcy is soon to come to an end. A proposal from the main creditor Astin Capital Management to sell off the company’s assets and close it down has been accepted by the Prague Municipal Court. ECM’s assets have been ...
Investment & finance
Olomouc City sold to Mint Investments
Eurobuild CEE | 05 September 2012
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. . The 18,000 sqm centre, which had belonged to bankrupt investment fund aAIM and passed into the ownership of creditor Credit Suisse International, is ...
Investment & finance
Gant Development reduces debts
Eurobuild CEE | 04 September 2012
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. For the same period of the previous year the figure was minus PLN 51.1 mln. At the end of June, the value of long term loans made to ...
Investment & finance
Big H1 loss for PBG
04 September 2012
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. Its EBITDA dropped to minus PLN 1.6 bln (compared to PLN 184.4 mln in H1 2011). Its operating profit (EBIT) decreased in H1 of this year to minus PLN 1.6 bln (from PLN 158.9 mln in H1 ...
Investment & finance
ČSOB refinances HB Reavis park
Eurobuild CEE | 04 September 2012
SLOVAKIA HB Reavis has announced that it has secured new bank financing for its¬ Logistics Center Bratislava Svätý Jur complex. ČSOB is to provide a loan of EUR 14 mln or around 70 pct of the value of the asset for five years under “standard market conditions”. The ...
Investment & finance
UGL Services/DTZ becomes DTZ
Eurobuild CEE | 04 September 2012
WORLD UGL has today announced that its property services business, which is comprised of UGL Services and DTZ, is to be united under the DTZ brand. The Australian group acquired the global real estate services of DTZ in December 2011, since when the merged operations have been co-branded as UGL ...
Investment & finance
Bigger profit for Inpro
Eurobuild CEE | 03 September 2012
POLAND Developer Inpro generated a gross sales profit of PLN 12.32 mln, with sales revenue of PLN 47.8 mln in H1 2012. The company’s net profit came to PLN 3.1 mln, an increase of 1,445 pct on H1 2011. The developer expects to record the most of its turnover in the last two quarters of this ...
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