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Eastern Europe

Bonava divests operations in St. Petersburg

Bonava has entered into an agreement to divest Bonava’s subsidiaries in Russia for a purchase price of approximately €98m (SEK 1.1bn). The net financial impact amounts to approximately SEK -0.1 to -0.3bn and will be recognised when the transaction is finalised which is expected to be within six months. The closing of the tran...
Monday, 10. October 2022

Increased enquiries for SBU and LML space in CEE-15 countries

The total stock of SBU (Small Business Units) / LML (Last Mile Logistics) space in the CEE-15 countries accounts for over 3 million m², but the development of this market is not evenly spread in this region. The largest amount of space is located in Poland (circa about 2 million m²), reveals a new report by Colliers: "ExCEEdi...
Friday, 1. July 2022

Warimpex holds 100 % of Jupiter Towers at Airportcity St. Petersburg

Warimpex Finanz- und Beteiligungs AG to announce the acquisition of a 56 per cent stake in the two Jupiter Towers at Airportcity St. Petersburg. All of the prerequisites for the closing were satisfied and the transaction was closed on 28 December 2021.
Friday, 14. January 2022

Warimpex holds 100 per cent of AirportCity St. Petersburg

Warimpex Finanz- und Beteiligungs AG to announce the acquisition of a 10 per cent stake in the project company AO Avielen A.G. The seller is UBM Development AG, which has now fully withdrawn from the project. The parties involved agreed not to disclose the price. Warimpex now holds a stake of 100 per cent in Avielen, the proj...
Friday, 10. December 2021

Eastern Property Holdings reports net profit of $40.68 million

Eastern Property Holdings Ltd (EPH) today announces audited 2019 year-end results: The net profit attributable to the shareholders of $40.68 million ($4.01 per share) and the positive cumulative translation adjustment (CTA, reflected as the other comprehensive income in equity) of US$27.73 million contributed to the US$68 mil...
Wednesday, 29. April 2020

YIT starts with two new apartment buildings in Russia

In October–December 2019, YIT started construction of two new apartment buildings in Russia. The projects are located in Yekaterinburg and Tyumen. The total value of the projects is approximately EUR 22 million, with nearly 500 apartments to be completed. The start-ups of the apartments are booked in the order backlog of the ...
Wednesday, 29. January 2020

Vacancy in Stoleshnikov Lane reaches a four-year low

According to JLL, the vacancy rate in Stoleshnikov Lane declined to a historical low of 9.5%. In addition, in Q4 2019 there was an overall contraction in vacant premises on Moscow central street retail market. The main reason was the increased number of store openings in Q4 2019. Moreover, annual growth of openings was observ...
Wednesday, 15. January 2020

Expense uptick pulls profit of hotels in Mainland Europe down

Mainland Europe hotels have seen better months. A 5.0% decline in average room rate dropped RevPAR 3.2% year-over-year in July, and with total revenue not faring better, GOPPAR in the month was down an unsettling 9.4% YOY, according to data from HotStats.
Friday, 30. August 2019

World cities see prime residential rental yield growth

Prime residential rental growth across leading world cities slightly picked up pace during the first half of 2019, rising 0.9% to take average year on year growth to 1.3%. This continues a four-year long pattern of low level, but steady increases, resulting in the first uptick in average yields since late 2014 as capital valu...
Friday, 16. August 2019

Etalon sells built-to-suit office building to Raiffeisenbank

in the first built-to-suit deal on the country's office market, Etalon Group has sold a 16-storey, ​​34,000 sq m office building to Raiffeisenbank. The building will be located in the territory of the Nagatino I-Land business park on Andropova Avenue 18 in Moscow. This is the largest deal closed in the office real estate mark...
Thursday, 15. August 2019

Demand of logistic firms for Moscow region warehouses reaches record level in H1 2019

The H1 2019 take-up volume in the Moscow region increased by one-third YoY and reached 854,000 sq m of which over 500,000 sq m transacted in Q2 2019, according to JLL. The demand of logistic companies has grown the most significantly. The share of logistics in the take-up structure has risen to 31% from 14% in 2018, deals vol...
Thursday, 18. July 2019

New Reima store opens in Forum Lviv

New Reima store opened in Forum Lviv shopping centre. From now on, the brand of children's clothing is presented in the shopping centre, on the First floor in the fashion gallery, with a store measuring 120 m². “The Reima brand is a wonderful addition to the brands portfolio in the kids apparel segment,” comments Marina Nest...
Tuesday, 16. July 2019

Russia real estate investment volume increased to USD1.6bn

Russia’s real estate investment volumes increased by 24% YoY to more than USD1.6bn in H1 2019 compared to USD1.3bn in the previous year, says JLL. In this, Q2 2019 volume reached USD643m, 13% higher than in Q2 2018 (USD568m). “Growth in H1 2019 can be explained by the closure of several large transactions. Increased stability...
Wednesday, 3. July 2019

Multi appoints Antoine Mocachen as Managing Director for CEE Region

Multi Corporation appointed Antoine Mocachen as Managing Director for Central and Eastern Europe, effective 17 June 2019. He will be responsible for Multi’s activities in Hungary, Poland, Slovakia and Ukraine. Antoine Mocachen succeeds Luca Maganuco, who has filled this position on an interim basis for the past year, in addit...
Thursday, 16. May 2019