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2020-01-08  09:29
CIJ Romania
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Company News

Forever 21 closes store at Sun Plaza in...

Forever 21 has closed its store at Sun Plaza in Bucharest. The American retailer filed for bankruptcy and announced at the end of September that it would close 178 stores of the 800 locations it operates in 57 countries. The company had opened its Sun Plaza store in 2017. The location covered 2,000 sqm. Forever 21 still has a store at the ParkLake shopping center in Bucharest.
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2020-01-08  09:17
CIJEurope.com
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Project News

New precedent? Ministry blocks Trigema’s...

The Minister of Regional Development Klara Dostalová has rejected an appeal by the residential developer Trigema against a verdict that her subordinates gave last summer against plans to build to highrises in Prague 12. Trigema had gotten the green light for a 14-storey and an 18-storey apartment building from the City of Prague. But some local residents, including Prague 12's ma...
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2020-01-08  09:16
CIJEurope.com
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Deals

Natland acquires AZ Tower in Brno

AZ Tower, the Czech Republic's tallest building, has been acquired by the investment group Natland, according to the daily E15. The vendor of the Brno building was Couf trade, according to the new owner's majority shareholder Tomáš Raška. "Our investment group secured control of 100 percent of the company AZ Tower by buying the shares and the debts of the company AZ Tow...
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2020-01-08  09:15
CIJEurope.com
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Project News

State seeks streamlined planning for...

The Czech transportation ministry is aiming to speed up preparations for the construction of high-speed train lines between Prague and Brno. It's hoping to do so by asking for updates to plans for development in the individual regions through which the new train line would run. Two sections in particular have been singled out where planning needs to be sped up; Poříčany - Světlá ...
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2020-01-08  09:09
CIJEurope.com
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Company News

First Property Group to sell 50.3% stake in...

First Property Group is selling its 50.3-percent stake in the Chałubińskiego 8 office tower in Warsaw’s city center. The transaction is scheduled to be completed by the end of March. The name of the buyer has not been disclosed. The sale price represents a 13.4-percent markup and is 10 percent higher than its last independently assessed valuation. No other details were released.
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2020-01-08  09:08
CIJEurope.com
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Company News

POLOmarket leases 30,500 sqm at 7R Park Tczew

POLOmarket has leased 30,500 sqm of warehouse space at 7R Park Tczew. The handover of the space is planned for the third quarter of this year. The facility for the Polish supermarket network includes 20,000 sqm of dry storage, 8,000 sqm of cooling storage, 1,500 sqm of freezing storage and 800 sqm of office space. The building’s roof structure will be reinforced to enable photovoltaic...
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2020-01-07  10:27
CIJEurope.com
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Project News

Prague launches tender for first section of...

Prague's transportation company DPP will launch a public tender for the construction of the first portion of the new metro line which will include the construction of a new transfer station at Pankrac, the new Olbrachtova station and the tunnels connecting them. DPP began preparations for the work last summer with a geological survey that exposed the complex situation underground...
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2020-01-07  10:25
CIJEurope.com
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Construction

Interior Ministry joins opposition to new...

The Czech Ministry of Interior has joined critics of the proposed new construction law, warning that it will cost the state an extra CZK 29bn. The bill counts on the creation of a centralized construction office, something the Interior Ministry claims would increase state spends on needed staff and real estate. The Ministry of Regional Development, which is sponsoring the bill, reject...
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2020-01-07  10:22
CIJ Romania
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Company News

Construction starts at Constanta Business Park

Globalworth in partnership with Global Vision broke ground on Constanta Business Park. The €200m investment is being developed in several phases across 100 ha in the village of Lazu, near Constanta, and will be the biggest mixed-use project in Romania. It will offer 550,000 sqm of industrial, logistics, production, service and office space. The first phase, which is expected to be com...
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2020-01-07  10:21
CIJEurope.com
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Politics

Industrial zone real estate taxes could rise...

The Czech Finance Ministry has proposed giving towns the right to increase the level of real estate tax paid by the owners of industrial parks. Currently, there's no way for mayors to do this without raising taxes for their residents at the same time. Czech Television interviewed the mayor of Kostelec near Pilsen, which raised real estate taxes 150 percent in order to bring in an...
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