Latest reports – Page 3340
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PropertyEU Archive
Financial services cut jobs as incomes and business levels fall sharply - PWC
The UK financial services sector has been hit by record drops in income levels while business volumes have continued to fall sharply, according to the latest CBI/PWC Financial Services Survey released this week. The industry has cut jobs at the fastest rate since 1993 to try and trim costs and ...
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PropertyEU Archive
Jelmoli's newly listed Athris unit has EUR 330m warchest
Swiss property company Jelmoli has completed the separate listing of its Athris unit on the Swiss stock exchange. In a statement this week, the company said the listing, which was in line with its business plan, has boosted the group's combined market capitalisation to approximately CHF 2.05 bn (EUR 1.35 ...
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PropertyEU Archive
IVG Immobilien tops list of week's best performers
Germany's IVG Immobilien was Europe's best performing real estate stock last week, figures from GPR show. The share price rose 37.6% between 23 and 27 March after the company reached agreement to combine EUR 1.3 bn of credit lines which were due to mature in the next two year into ...
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PropertyEU Archive
German property returns reveal minor correction in values
Investment in German real estate returned a total return of 3.5% in 2008, just one percentage point lower than in 2007, according to the IPD Germany Annual Property Index for 2008. The marginal fall on the prior 12 months is in sharp contrast to the significant re-pricing which most other ...
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PropertyEU Archive
WDP to issue EUR 21m in shares to buy 3 DHL sites
Shareholders of closed-end real-estate investment company WDP have approved a proposal for the company to acquire three logistics sites from international courier DHL. The sites located in the axis between Breda in the Netherlands and Brussels have a total construction potential of 85,000 m[sup]2[/sup].
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PropertyEU Archive
UK market may be bottoming out - JLL survey
The deterioration in confidence in the commercial real estate investment market has softened in the first quarter of this year, according to the findings of Jones Lang LaSalle's real estate investor confidence sentiment survey.
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PropertyEU Archive
Atrium completes its first Romanian mall
Atrium, the shopping centre specialist focused on Central and Eastern Europe, has completed and opened the extension of 'Militari Shopping', its first shopping centre in Romania.
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PropertyEU Archive
Habitat reports EUR1bn loss in 2008
Habitat, the Spanish property developer which filed for administration last December, posted a loss of EUR 1 bn in 2008 and unveiled EUR 2.8 bn of corporate debt this week with a total of 1,600 creditors. CEO Bruno Figueras told Spanish newspaper Cinco Dias that the company was working 'to ...
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PropertyEU Archive
Julius Meinl detained over alleged real estate share fraud
Julius Meinl V, chairman of Austrian family owned Meinl Bank, was detained on Wednesday for questioning in relation to allegedly defrauding shareholders at real estate company Meinl European Land (MEL) and two other companies. Meinl has reportedly denied any wrongdoing.
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PropertyEU Archive
Helaba provides EUR 80m financing to Europolis
German regional bank Helaba Landesbank Hessen-Thueringen is providing a EUR 80 mln financing to Austria's Europolis for the development of the Saski Crescent office building and Europolis Park Phase I in Warsaw. The Saski Crescent building is located in the central business district of Warsaw, comprising 15,300 m[sup]2[/sup] gross lettable ...
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PropertyEU Archive
Multi Vastgoed completes leasing of Amersfoort office project
Multi Vastgoed has entered into a 10-year lease agreement with the HOB Support Agency for a new office at the Brouwershof office complex in Amersfoort.
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PropertyEU Archive
ULI unveils 11 finalists for European Awards for Excellence
The Urban Land Institute (ULI) said it has selected 11 developments as finalists in its Awards for Excellence competition for the EMEA region. The 2009 finalists were selected from 39 entries from 17 countries. The winners of the competition will be announced on 27 May at ULI's Trends Conference in ...
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PropertyEU Archive
Babis Vovos posts EUR 172m loss, scraps dividend
Greek property developer Babis Vovos swung to a pre-tax loss of EUR 172 mln in 2008 from a profit of EUR 12 mln a year following a EUR 83.4 mln depreciation of its investment portfolio. Net Asset Value per share plunged by 26.6 % in 2008 to EUR14.66.
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PropertyEU Archive
MPC's Usce shopping centre opens its doors in Belgrade
MPC Properties, a joint venture of MPC Holding and Merrill Lynch Global Real Estate Principal Investments, said on Wednesday that its Usce shopping centre opened its doors in Belgrade, Serbia, this week. The centre is the largest shopping gallery in the region of Belgrade, with a total built area of ...
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PropertyEU Archive
Colonial fails to find investors for Riofisa
Spanish property company Colonial said it is rethinking the sale of its shopping centre development unit Riofisa in light of the 'difficult situation in the real estate and financing markets.' In a statement to the Spanish stock market regulator this week, the company said that it will look for alternative ...
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PropertyEU Archive
Perial launches first OPCI vehicle
French asset manager Perial said on Wednesday that it has obtained the green light from the financial market authority AMF for the launch of its first OPCI vehicle, Majestal I. The new investment vehicle will have a core plus-value added strategy and will have a life term of 12 years. ...
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PropertyEU Archive
Mirax gets green light for London tower
Russian property developer Mirax said its skyscraper project for London has received final approval from the Public Committee. Earlier, the project, located on the bank of the Thames, was approved by the Department for Communities and local government.
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PropertyEU Archive
RICS set to raise global valuation standards
The Royal Institute of Chartered Surveyors (RICS) has set in motion a global consultation on its proposal to develop an enhanced regulatory framework for valuation that will raise professional standards, improve confidence for clients and help secure the accurate valuations that underpin most economic activity (1 April 2009).
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PropertyEU Archive
Union Investment buys Italian shopping centre for EUR 143m
Hamburg-based Union Investment Real Estate has acquired the Monza shopping centre in Northern Italy for its UniImmo: Deutschland open-ended real estate fund. The investor purchased the property from ImmobiliarEuropea for around EUR 143 mln. CB Richard Ellis advised the vendor while Jones Lang La Salle acted for the buyer.
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PropertyEU Archive
Lenders target prime assets with established borrowers
Some 59% of Europe's largest banks are effectively closed to new business and are not lending against commercial real estate, a survey by Cushman & Wakefield has found. However, there is appetite from the remainder for lending against well let prime assets with established borrowers, the adviser added.
