Latest reports – Page 3602
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PropertyEU Archive
King Sturge sees turnover rise 22.5%
Property consultant King Sturge said on Tuesday that group turnover for the year ending April 2007 climbed to almost £198 mln (EUR 281 mln), up 22.5% on 2006. UK earnings accounted for £160.4 mln and overseas earnings came to £37.2 mln in what the company described as its second ...
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PropertyEU Archive
Land Securities and Sainsburys form property JV
Land Securities has formed a 50-50 partnership with Sainsbury's to 'unlock development value' at the British supermarket group's stores. The joint venture, known as Harvest Limited Partnership, will initially involve three stores in Britain with an aggregate value of £113 mln (EUR 159 mln) and will run for an initial ...
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PropertyEU Archive
Unibail-Rodamco: yield shift game is over in CEE retail
The shopping centre industry in Central and Eastern Europe is on the brink of a new era, according to Guillaume Poitrinal, CEO of Europe's largest listed property company Unibail-Rodamco. 'The investment-only phase is finished,' he said at the kick-off of a two-day conference programme at the Mapic retail fair in ...
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PropertyEU Archive
Mercialys confirms acquisition of five shopping centres
Listed French commercial real estate company Mercialys has confirmed the acquisition of five shopping centres on the French island of La Reunion in the Indian Ocean. The shopping centres, with a total surface area of 28,700 m2, are being bought from Vindemia, a wholly owned subsidiary of French retail group ...
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PropertyEU Archive
GE and Tishman to develop EUR 250m business centre in Sofia
GE Real Estate Central and Eastern Europe has teamed up with Los Angeles-based Tishman International to develop a mixed-used office, hospitality, logistics and light industrial project in the Bulgarian capital Sofia. The development cost for the Sofia Airport Center is about EUR 250 mln.
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PropertyEU Archive
DIC Asset nine-month net income soars on portfolio expansion
German commercial real estate developer DIC Asset reported this week that consolidated net income over the first nine months of 2007 came to EUR 24 mln, more than three times the figure recorded for the same period in 2006. The company attributed the result primarily to stable rental income from ...
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PropertyEU Archive
Kungsleden clinches EUR 538m portfolio sale
Swedish-listed property company Kungsleden has signed an agreement with Norwegian asset manager Orkla Finans Kapitalforvaltning and Oslo-based financial services group DnB NOR to sell a large mixed portfolio of commercial properties in Sweden for SEK 5 bn (about EUR 538 mln).
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PropertyEU Archive
Aedes said to be on track despite disappointing quarter
Following on from increased operating profit and reduced net profit figures previously reported for the first half of 2007, Italian real estate company Aedes released its report for the third quarter this week. Gross revenue for the period amounted to EUR 9.9 mln, compared to EUR 89.1 mln for the ...
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PropertyEU Archive
Immoeast adds Atrium Park to Hungarian portfolio
Listed Austrian real estate group Immoeast has announced the acquisition of the Atrium Park office development in Budapest in the form of a forward purchase, with total investment amounting to around EUR 100 mln. The project is located in Pest near Vaci Ut, the most important office location in the ...
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PropertyEU Archive
RGI raises EUR 208m from bond issue in Israel
AIM-listed RGI International announced on Tuesday that it has raised NIS 1,200 mln (about EUR 208 mln) in a private bond placement in Israel. Jacob Kriesler, RGI's chairman, said in a statement that 'the directors of RGI believe that RGI's balance sheet is currently cash rich but our longer term ...
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PropertyEU Archive
Cramo mulls sale-and-leaseback for Finnish real estate
Cramo, a major service provider to the construction industry in Northern Europe, is investigating the possible disposal of its real estate assets in its home country Finland in a sale-and-leaseback transaction during the first half of 2008. In a statement on Tuesday, Cramo said it has given the assignment to ...
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PropertyEU Archive
WDP doubles Belgian land reserves
Listed Belgian logistics property developer and investor Warehouses De Pauw (WDP) has announced a doubling of its Belgian land reserves through the acquisition of 180,000 m[sup]2[/sup] of land at Europark Zuid II in St. Niklaas for EUR 19.5 mln. The site is a strategically important logistics location near the E17, ...
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PropertyEU Archive
Dragon-Ukrainian clarifies 'misconception' over private placement
Dragon-Ukrainian Properties and Development (DUPD), the real estate investment arm of Kiev-based investment bank Dragon Capital, has issued a statement to clarify misconceptions it says may have arisen at a press conference organised by the bank's brokerage unit last week.
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News
ING warns of knocked confidence in property
UK - Investor sentiment is significantly more uncertain and pessimistic than it was last year, according to ING Real Estate Investment Management.
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News
Norway seeks real estate expertise
NORWAY – The Norwegian Government Pension Fund – Global has effectively confirmed its intention to invest in real estate by tendering for a real estate investment consultant.
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News
Industry pushes for EU REIT
EUROPE - Five industry bodies including the European Property Federation (EPF) are pushing the European Commission to introduce an EU REIT regime, in a bid to transform a fragmented European market into “the largest and likely most efficient property market in the world”.
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News
Pension funds "could power Reits growth"
UK – Assets held by the UK Reits market could double over the next few years if investors such as pension funds sold their real estate assets to the listed market, according to First State Investments.
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News
REITs momentum shifts to Asia and Europe
GLOBAL - The centre of gravity for REITs has shifted away from the US towards Asia and Europe, according to a report by Ernst & Young.
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News
CPPIB to make direct bid to airport shareholders
NEW ZEALAND - The CA$120.5bn (€89bn) Canada Pension Plan Investment Board (CPPIB) is to approach Auckland International Airport (AIAL) shareholders directly after the firm called off talks on its bid to acquire a 49% stake.
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News
DTZ strikes oil with Canada buy
CANADA - As Canadian pension funds continue to invest aggressively in overseas infrastructure, DTZ has announced it is entering the market through the CA$31m (€22.5m) acquisition of property services firm JJ Barnicke.
