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2019-08-22  09:54
CIJ Serbia

Hungarian debt falls to 68.7% of GDP in Q2

Hungary’s state debt fell to 68.7 percent of the country’s GDP at the end of June, according to recent data released by the National Bank. At the end of the first quarter, state debt was 70 percent of GDP. The Hungarian constitution requires the year-end debt-to-GDP ratio to fall to 50 percent. The National Bank started publishing separate debt ratios last year with and without data f...
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2019-08-22  09:46
CIJ Serbia

Mortgage rates remain high in Hungary

The composite home loan rate across the eurozone fell to 1.65 percent in June, the lowest it’s been since records began in 2000, according to the National Mortgage News. In Hungary, mortgages are higher, because regulators steered almost all borrowers away from cheaper and less-secure floating rate loans. The 10-year fixed rate mortgage is currently about 5 percent. “The attraction of...
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2019-08-22  09:35
Company News

Zásilkovna fast-tracks foreign expansion

The parcel delivery company Zásilkovna is growing even faster this year than its own ambitious plans. The company operated primarily as a distribution network for e-shops until earlier this year when it began allowing individuals to send parcels as well. In addition to its own pick-up points, Zásilkovna cooperates with small shops around the Czech Republic for greater customer conveni...
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2019-08-22  09:34
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Project News

Geosan Development begins construction on...

Geosan Development has begun a small, high-end residential project in Radlice - Prague 5 in a location near Anděl. Made up of a pair of 4-storey buildings, the project will offer 31 units, 60 percent of which are still available. Completion of construction work is expected at the end of next year. The buildings are begin erected in a gap between existing villas and woods, with most of...
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2019-08-22  08:32
Company News

Bank Gospodarstwa Krajowego leases 12,400...

Bank Gospodarstwa Krajowego has leased 12,400 sqm of office space at the Varso Place office complex, which is being developed by HB Reavis in the Warsaw city center. The bank will move into the Varso 2 building next spring under a contract that will last for five years. Almost three-quarters of Varso 2 has already been pre-leased, with US real estate services company Cambridge Innovat...
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2019-08-21  12:51

Vladimir Bolek (IAD Investments) confirmed...

Vladimir Bolek, a Board Member at IAD Investments, will be speaking at CEDES 2019 in Bratislava on Sept 12 at the Sheraton Hotel. He's taking part in the Office Innovations discussion that's exploring how office developers and owners are constantly adjusting to the changing needs of modern corporations and end users. Along with innovations for classic office spaces and users...
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2019-08-21  12:43
CIJ Romania
Company News

BCR relocating to Business Garden Bucharest

The Romanian Commercial Bank (BCR) has leased 14,000 sqm at Business Garden Bucharest and weill relocate to the property, owned by Vastint Romania, at the beginning of next year. The project is currently 65 percent occupied. Business Garden Bucharest includes three class A office buildings, with a total leasable area of nearly 43,000 sqm. Public and commercial services are available o...
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2019-08-21  10:52

Tesco selling off Pardubice department store

Tesco is selling off its department store in Pardubice, its last in the Czech Republic. The second and third floors of the building will be in operation until the end of September, while the grocery store will be stay open a week longer. The Czech News Agency reports that the building, which is located next to the Atrium Palac, will then be closed and its new owner will reconstruct it...
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2019-08-21  10:04
CIJ Serbia
Company News

Pevec to open shopping center in eastern...

Pevec bought the former Super Konzum facility in Slavonski Brod, eastern Croatia, near the Bosnian border, where it will open a new shopping center by the end of the year. The company bought the property from the Dutch fund WPC Agro II. The new Pevec center, spanning as much as 5,035 sq ft, will include a car wash and cafe. “This is another small step in our long-term strategy in whic...
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2019-08-21  10:04

Banks now in competitive battle for mortgage...

Mortgage rates continue to fall in the Czech Republic, but the trend is failing to stop the decline in the number of loans banks are making. Instead, the size of the average loan in July grew to CZK 2.33m, up from CZK 2.02m in 2017. The average mortgage rate has fallen to 2.68 percent, having broken back into sub-3 percent levels in February. Banks signed agreements with just 6,615 i...
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