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2020-04-03  09:58
CIJEurope.com
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Company News

Echo Investment sells apartments in second...

Echo Investment has started selling apartments in the second phase of its Stacja 3.0 residential scheme in Wrocław. The new phase includes 110 units equipped with smart solutions. Using a smartphone application, residents will be able to adjust the unit’s lights or set the temperature remotely. The public space will be fitted with a set of nine smart lockers for large packages deliv...
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2020-04-03  09:57
CIJEurope.com
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Company News

Savills IM acquires Łódź logistics unit for...

Savills Investment Management, on behalf of Korean institutional investors managed by Vestas Investment Management, has acquired a BTS logistics facility in Piątek, near Łódź. The seller is Invesco Real Estate. The cost of the deal was €71m. The investment was developed by Panattoni Europe and offers 123,000 sqm. During the transaction process, Savills IM was represented by Savills ...
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2020-04-03  09:54
CIJEurope.com
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Politics

Slovak retailers could get 80% rent reduction

Stores that were forced to close as a result of the Slovak government's measures to prevent the spread of COVID-19 should have their rents reduced by 80 percent. That's the view of the country's Minister of Economics Richard Sulík after a government meeting on Thursday. He said that the state would bear half of the cost but that landlords should cover the remainder. Spe...
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2020-04-03  09:52
CIJEurope.com
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Economy

Hungary’s PMI falls to 29 points in March

Hungaryʼs seasonally-adjusted PMI reading fell to 29.1 points in March from 50.3 points the previous month, according to the Hungarian Association of Logistics, Purchasing and Inventory Management. The weak performance has been attributed to the coronavirus outbreak. A PMI reading above 50 signifies growth in the manufacturing sector, while a reading below 50 points to a slowdown. The...
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2020-04-03  09:50
CIJEurope.com
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Politics

Hungary seeks Chinese financing for Belgrade...

The Hungarian government is attempting keep the details of a rail project connecting Budapest to Belgrade secret, claiming that this will speed the signing of a loan deal with China. It's part of the One Belt, One Road project that's expected to cost more than €2bn. The project will require a loan that would be taken out with the Chinese Export-Import bank. It's unclear...
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2020-04-03  09:49
CIJ Romania
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Company News

AFI looking to postpone €300m NEPI...

AFI Europe has asked that its €300m takeover of NEPI Rockcastle’s Romanian office portfolio be postponed, citing the number of restrictions the government has put into place following the coronavirus outbreak. The deal was supposed to close by March 31. However, NEPI Rockcastle claims it fulfilled its contractual obligations despite the state of emergency and alleges it can terminate ...
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2020-04-02  12:03
CIJEurope.com
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Economy

Forint falls to historic low against the euro

After the forint fell to a historic low against the euro, the central bank said it would offer collateralized loans at a fixed rate of 0.9 percent to help offset the economic fallout of the coronavirus. These loans would be granted to domestic open-ended investment funds in an effort to boost government securities as well as the real estate market, the bank said in a statement. The Hu...
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2020-04-02  11:55
CIJEurope.com
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Politics

Slovak politicians trash Matovič's...

Slovakia's newly elected prime minister Igor Matovič is considering a controversial plan to implement a so-called "blackout" of the country during which the mobility of people would be radically limited. He says that such a step, which would have to be announced "weeks" in advance to the public, would allow the country to re-start its economy in the shortest p...
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2020-04-02  11:53
CIJ Serbia
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Events

NIS providing fuel for Air Serbia medical...

NIS Group, Serbia's dominant fuel producer, has donated 270 tons of aviation fuel to Air Serbia. The move is the company's way of contributing to the fight against COVID-19, as Air Serbia is making daily deliveries of medical equipment and supplies to the country. The NIS Volunteer Club is also engaging in community support for the aid of vulnerable Serbian citizens, in part...
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2020-04-02  11:40
CIJ Serbia
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Economy

Shaken real estate market in Croatia due to...

Until the coronavirus pandemic struck, real estate prices in Zagreb and the Adriatic had been increasing by about 10 percent annually. That trend has come to halt at least temporarily, but even real estate specialists are currently able to predict what the longer-term impact on pricing will be. With the added shock of the earthquake now being factored in, it appears than rental prices...
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