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Eastern Europe

Bonava left Russia

Bonava has completed the divestment of its operations in St. Petersburg to the Armenian company Star Development. The transaction amounting to €50m has been completed and Bonava has got payment. This entails a positive result of SEK 564m after transaction fees, which will be reported in the third quarter report. With this tra...
Friday, 17. November 2023

Bonava to sell St. Petersburg business to Star Development

Bonava has signed an agreement for the divestment of its St. Petersburg operations with the Armenian company Star Development. The transaction amounts to approximately €50m, which the Swedish developer said it has already got. The deal with RBI Group has fallen through.
Thursday, 19. October 2023

Eastnine’s divestment of holding in MFG completed

Eastnine AB’s divestment of the holding in the Russian fashion retailer Melon Fashion Group (MFG) is completed. The purchase price of approximately RUB 15.6 billion, corresponding to €146 million calculated at an exchange rate of €/RUB 107, is in Eastnine's account in a European bank. Eastnine immediately initiates exchange o...
Friday, 11. August 2023

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