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2020-02-13  10:08
CIJ Romania
Company News

PSC Group to develop new resi project in...

PSC Group is poised to break ground on a new residential project in Bucharest. To go up on an 11,500 sqm land parcel on Soseaua Nordului, WIN Herastrau will include six buildings as well as two levels of underground parking, two sports-fitness areas, indoor and outdoor children's playgrounds, a beauty salon, an area for cleaning services and a car wash area. The developer has tap...
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2020-02-13  10:05
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Tomášková to lead Skanska’s merged Czech and...

Skanska has merged its Czech and Hungarian commercial developments units and placed Alexandra Tomášková in charge of it. Tomášková was named Managing Director of the Czech business in 2018 but has now been made Executive Vice President Operations Hungary & Czech Republic. The move is part of an effort to strengthen the company's strategic focus on customers and to establish a...
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2020-02-12  09:59
CIJ Romania
Company News

FP One Office Development plans office...

FP One Office Development is planning to build an office project on Expozitiei boulevard in Bucharest. The developer is in the process of securing all the necessary permits. The project will include three buildings on a 3,900 sqm land parcel as well as a public square or market in front of the buildings. About 156,000 sqm of office space and 1,500 new homes are expected to go up in fo...
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2020-02-12  08:57
Company News

Savills advises Asian investor on...

Savills Investment Management, acting on behalf of an Asian investor, has acquired five logistic parks in Poland totaling 280,000 sqm. This is the first transaction in Poland completed by the Asian fund. The deal includes Panattoni Park Poznan IV (86,500 sqm), Panattoni Park Szczecin II (70,000 sqm), Panattoni Park Warsaw North (54,000 sqm), Panattoni Park Warsaw South (38,000 sqm) an...
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2020-02-12  08:55
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Company News

Strong demand drives occupier activity on...

Office take-up hit an all-time high in Warsaw last year with leases amounting to nearly 880,000 sqm, according to Cresa. The 2019 volume was up by nearly 42,000 sqm on the previous peak year of 2015. The market reported a 7-percent increase in total office take-up in the four quarters of 2019 compared to the annual average for 2015-2019. “Notwithstanding healthy supply levels, tenants...
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2020-02-12  08:32
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Scott & Weber taking one floor at The...

The Flow Building, currently under construction on Wenceslas square, has added Scott & Weber to a growing list of tenants that will occupy its 15,000 sqm office component. The serviced offices and co-working space provider will be taking a full floor of the building, roughly 2,500 sqm. The deal's announcement has been in the works for many months and it means that there'...
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2020-02-12  08:31
Company News

Metro selling off hypermarkets division for €1bn

The German-based retailer Metro is going to sell off its hypermarket division Real to X+Bricks and SCP Group. It's being reported that the deal, once it's actually signed, will be worth around €1bn. Metro's biggest shareholder is EP Global Commerce, owned by the Czech billionaire Daniel Kretinský and Patrik Tkač. Real operates 277 hypermarkets and employs around 34,000 ...
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2020-02-12  08:30
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€500m in Prague hotel assets sold in...

Last year was record-setting for Prague when it comes to the volume of sales made in the hotel sector. Deals worth more than €500m were completed, the most ever and two-times the average for the past five years. Cushman & Wakefield writes in a new study that 2019 pushed Prague into the Top 10 in European cities. But it adds that 2020 should be considerably stronger with as much as...
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2020-02-11  11:16
Company News

Exclusivity in retail leases? Prague's...

A conflict going back three years between Prague's two outlet malls has been decided by the Czech antimonopoly office. However, the ruling is being interpreted as inconclusive with both sides declaring victory. Lidové noviny writes about the case which centered around lease contracts are Fashion Arena in the Štěrboholy neighborhood that banned tenants from taking space at outlets...
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2020-02-11  11:11

Czech Association of Developers calls...

The director of the Association of Developers Tomáš Kadeřábek has spoken out against plans by the Czech Finance Ministry to allow towns to raise the amount they collect in real estate taxes on land connected with factories or industrial parks. "In reality it's a sector tax that will increase the final price paid by consumers," he warned in an interview with E15. "I...
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