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2018-11-15  10:53
CIJ Romania
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Company News

Omer Susli to open HomeLux store

Omer Susli, the former owner of DIY retailer Praktiker, is set to open the first HomeLux furniture and home decoration store in Romania next week. The store will be located on the DN1 motorway between Ploiesti and Brasov at Km 6. The space used to house a Praktiker store. Kingfisher bought the Praktiker network from Susli last year, but the land parcels where some of the stores were l...
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2018-11-15  10:25
CIJ Serbia
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Construction

New 25,000 sqm shopping center going up in...

Construction started on City Center Cazin, a 25,000 sqm shopping center in northwestern Bosnia. Completion is scheduled for next spring. Going up next to Cazin’s Mercator and JYSK centers, this will be the biggest shopping center in the Krajina region. The project will offer well-known retail brands, restaurants and entertainment. There will also be on-site parking for 380 vehicles. T...
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2018-11-15  10:24
CIJEurope.com
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Politics

Czech PM survives initial storm over son scandal

Czech prime minister Andrej Babiš could still survive the most serious challenge to his authority thanks to the weakness of the Social Democrats who are in coalition government with him. The prime minister's son told investigative reporters that his father had pressured him into leaving the country to avoid police questioning in connection with EU subsidies improperly paid out to...
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2018-11-15  10:21
CIJEurope.com
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Project News

Loss making WeWork raises another $3bn

WeWork has received a $3bn injection from the Japanese-based conglomerate SoftBank, which brings its valuation to $42bn. Softbank invested $4.4bn just last year, but at that time the co-working space operator had a valuation of just $20bn. The company has raised a total of $10.6bn since it was founded in 2010. It recorded a loss of $1.2bn for the first nine months of 2018. The company...
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2018-11-15  10:19
CIJ Baltics
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Events

Q3 construction in Lithuania up 17% from 2017

According to the Lithuanian Department of Statistics the value of construction work carried out in the third quarter the country reached €904m. That's 1.7 percent lower than in Q2, however more than 17 percent higher than the same period in 2017. Construction of residential buildings made up 16.9 percent of all construction work in Lithuania, totaling €152.7m. Construction of non...
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2018-11-15  10:19
CIJ Serbia
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Company News

Hilton opens new Canopy hotel in Zagreb

Canopy by Hilton Reykjavik has opened in Zagreb. This is the Hilton’s first lifestyle hotel brand to open in continental Europe and the third Hilton to open in Croatia. The company also operates Hilton Imperial in Dubrovnik and DoubleTree by Hilton in Zagreb. Canopy is located near the Croatian capital’s main train station and offers 151 rooms and eight suites. The property also has t...
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2018-11-15  10:14
CIJ Serbia
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Company News

Cineplexx to invest €21m in Balkan region

Cineplexx is planning to invest €21m to expand its presence in the Balkan region. This month, the Austrian company is scheduled to open a cinema center at the newly opened Promenada shopping center in Novi Sad, northern Serbia. In December, the company is scheduled to open a cinema in Albania’s capital city, Tirana. An opening in Thessaloniki, northern Greece, will follow. By 2021, ei...
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2018-11-15  10:08
CIJ Serbia
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Company News

Bader to open new factory in Bulgaria in 2019

Bader is planning to open a factory in northern Bulgaria’s Ruse region. The German company, which manufactures luxury car seat covers, intends to employ between 700 and 800 people at its new location. Production is scheduled to start in the second half of next year. Bader operates on five continents and employs more than 11,300 people. Its main customers include BMW, Audi and Mercedes.
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2018-11-15  09:07
CIJEurope.com
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Company News

RUCH S.A. remains at Francuska Office Centre

Fincores Business Solutions, part of RUCH S.A., has extended its lease on 627 sqm at the Francuska Office Centre in Katowice. Cresa represented the tenant. The investment was delivered in 2010 and consists of two office buildings with a total leasable area of 21,000 sqm. The owner of the office complex is GTC. “We are one of the first tenants of this office building. We are pleased to...
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2018-11-15  09:05
CIJEurope.com
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Economy

Moody’s affirms Ba1 rating for EPP

Moody’s Investors Service has affirmed its Ba1 corporate family rating for EPP, the largest retail property owner in Poland. Moody’s indicated that the rating is supported by EPP’s solid portfolio of large shopping centers in major Polish cities that are well positioned within their catchment areas. The company’s cash flow and asset values are supported by favorable macroeconomic fund...
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