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» Chronological View: " Eastern Europe " «

Immofinanz closes the sale of the Russian retail portfolio

Immofinanz closes the sale of the Russian retail portfolio

After the sale of the Russian portfolio seemed to be a protracted marathon process, Immofinanz has now performed a sprint on the last meters. Only four weeks ago the sales report was published, now the closing took place in St. Petersburg: The Moscow shopping centers have officially been transferred to the Russian Fort Group ...
Monday, 11. December 2017

Esotiq store opens in Forum Lviv

Lingerie brand Esotiq opened its new store in Lviv in Forum Lviv shopping centre on December 2, 2017. The 44m² store is located in the shopping centre gallery on the First floor. The Esotiq is a Polish underwear brand for energetic and attractive modern women having 10 years of experience. The assortment is complemented by ho...
Friday, 8. December 2017
Ikea Centres ramp up F&B investment

Ikea Centres ramp up F&B investment

Ikea Centres Russia records 250 million people visiting its 14 Mega branded shopping centres and 85 Russian, and international retailers including Superdry, Lindt, and Julius Meinl joining Ikea Centres Russia’s portfolio. Over €50 million has also been invested in creating new food & beverage space at Mega malls, transforming...
Monday, 27. November 2017

European shopping centre development slows but pipeline remains strong

Shopping centre development activity in the first half of 2017 increased total floorspace across Europe to 160.8 million sq m at the midpoint of the year, according to Cushman & Wakefield. In the first half of the year 825,000 sq m was delivered to the market in Central & Eastern Europe (CEE), compared with 344,000 sq m in We...
Thursday, 23. November 2017
Immofinanz sells Moscow-portfolio to Fort Group for €901m

Immofinanz sells Moscow-portfolio to Fort Group for €901m

The end is finally in sight: It is „no further reduction of liquidity through equity contributions for the Russian portfolio“ necessary, this is one of the key messages in the current Immofinanz sales announcement. The Austrian real estate group was able to sell its unprofitable retail portfolio in Moscow to the Russian Fort ...
Monday, 13. November 2017

No shopping centres opened in Kiev during first 9 months of 2017

For the first time since 2006, no quality shopping centres entered Kiev market in the first three quarters, says JLL. Three objects have been announced to open in Q4: Smart Plaza SC (15,000 sq m GLA), Rive Gauche SEC, Phase 1 (22,000 sq m), Retail Park Petrovka, Phase 1 (11,000 sq m). Thus, total volume of completions in Kiev...
Thursday, 9. November 2017

Kiev starts to receive new branded hotel rooms again

JLL presents the Q1-Q3 2017 results of the quality hotel market in Kiev. According to JLL observations, the quality hotel market of the Ukrainian capital displays persistence on continuing on the path to recovery.
Wednesday, 8. November 2017

Moscow office vacancy rate continues to decline

According to JLL, 74,583 sq m of quality office space was delivered to the market in Q3 2017. The bulk of this, 56,949 sq m, was Class A buildings (Oasis and Fili Grad business centres). The overall Q1-Q3 2017 completions were 95,726 sq m, 63% lower YoY (256,953 sq m in Q1-Q3 2016).
Tuesday, 7. November 2017

Reconstruction has not affected Moscow street retail market yet

According to JLL, the vacancy rate in the main Moscow high street corridors remained roughly unchanged in Q3 2017 since the previous quarter level, at 8.9% versus 8.8%. Thus, the completion of street renovation works has not yet triggered a rise in occupancy on central retail streets. Meanwhile, the vacancy rate declined by 1...
Tuesday, 7. November 2017

Third-party hotel management companies rise in the hotel market

Only a few decades ago hotels were not considered as investment-attractive assets. There were more attractive opportunities available within the real estate sector, with a shorter return on investment period requiring smaller investment. While the real estate market became more saturated, and the economic cycles shortened and...
Tuesday, 7. November 2017

E-commerce has driven Q3 warehouse take-up in Moscow Region by 54%

According to JLL, warehouse take-up in Moscow region amounted to 362,000 sq m in Q3 2017, 54% above the level in the same period of last year. The year-to-date take-up totaled 864,000 sq m, 26% higher than in 9M 2016. More than half of Q3 2017 take-up was formed by the two record transactions with e-commerce retailers. Utkono...
Monday, 6. November 2017

Moscow shopping centre market shows lack of quality space

According to JLL, only one shopping centre with a GLA of 125,400 sq m entered the Moscow market in Q3 2017 – Vegas Kuntsevo. With no deliveries in H1 2017, this represents the total completions in the first nine months of 2017, two-thirds lower than in the same period of last year.
Tuesday, 31. October 2017

7 Days Premium Hotels enters HoReCa market in Russia

7 Days Premium Hotels, a Plateno Group brand, is to enter the Russian market in 2017. Plateno owns and manages 20 brands, including 15 hotel brands, apartments, café, art-platform and online travel platform Plateno Trip.
Wednesday, 25. October 2017

Highest office rental rates recorded in Yekaterinburg, Voronezh and Nizhny Novgorod

According to JLL research, in the period from July 2016 to June 2017, 134,500 sq m of new office space has entered the Russia regional millionniki cities market (excluding Moscow and St. Petersburg), down 65% YoY. The total office stock of regional millionniki cities has reached 3.3 m sq m, corresponding to just 18% of the Mo...
Tuesday, 17. October 2017

Five new lease agreements for retail space in Fashion House Outlet Centre Moscow

Fashion House Outlet Centre Moscow, the first fully-enclosed outlet centre in Russia (20 000 sqm), is a desired shopping destination. It notices annual double digit growths on the most important business KPIs. Last year sales increased with 20%, sales density with 11% and average transaction value (ATV) with 15%. The scheme’s...
Friday, 6. October 2017

Moёt Hennessy moved to Bolshevik business complex in Moscow

Russian headquarters of Moёt Hennessy, part of LVMH Group, a global leader in luxury goods, has moved to Bolshevik business and cultural complex owned by investment company O1 Properties. JLL advised on the lease of approx. 1,600 sq m while ABD architects worked on the headquarters' interior design. The gala opening of the ne...
Friday, 6. October 2017

Russia real estate investment volume subsided by 13% in Q1-Q3 2017

In Q1-Q3 2017, Russia’s real estate investments declined by 13% vs. Q1-Q3 2016 and reached €2.3bn (USD2.7bn), according to JLL calculations. A Q3 2017 slowdown has driven the total volume decline over three quarters, three times down YoY to €427.4m (USD500m).
Friday, 6. October 2017