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Daily Commercial Real Estate News from Europe and USA
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In this edition: 08/06/2018

Orbis expands Ibis Styles brand in Romania

Aug 06, 2018 10:53 am
Orbis has opened an Ibis Styles hotel in northern Bucharest’s Aviatorilor-Aurel Vlaicu business hub. This is the Polish hotel operator’s second Ibis Styles location in Romania. The hotel features 80 guest rooms as well as a restaurant, conference room, business lounge and bar. The property was rebranded from Hotel Erbas. It is owned by the Erbasu family, which also also own...
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New garage construction planned for Prague airport

Aug 06, 2018 10:47 am
Prague's expanding international airport is due for continued change, with airport authorities now working on plans for the area in front of Terminal 2. A new so-called Skywalk will involve the construction of a 550 meter structure connecting the parking garage and the terminal. "New garages will become the basis for future parking services for travellers...
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Fitch's Czech rating improves to A+

Aug 06, 2018 10:46 am
The Fitch Ratings Agency has announced its finding that the Czech Republic's outlook has improved enough for a higher rating. Having been placed at "Stable", the country's rating has been upgraded from A1 to A+. Fitch praised the country's improved fiscal balance, which it found to be 'prudent' predicting a record government budget balance...
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Snap tender for Palac Žofín lease angers Prague opposition

Aug 06, 2018 10:41 am
Agentura NKL's lease of Palác Žofin from Prague's first district doesn't run out until 2025, but the company has requested that a tender be held, now, to determine who will run the building from 2025 to 2034. Opposition representatives in the city assembly are calling the move highly suspicious, as it comes just weeks before local elections are to take place....
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Maciej Madejak appointed MD of Panattoni Europe

Aug 06, 2018 09:57 am
Maciej Madejak has been appointed managing director of Panattoni Europe. He will be responsible for developing Panattoni Europe’s City Logistics concept in Poland and regional domestic markets as well as for the execution of big box projects in southern Poland. Madejak has more than 20 years of real estate experience, having previously worked for Goodman Poland, Prologis...
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BMW to build production plant in eastern Hungary

Aug 06, 2018 09:56 am
German carmaker BMW is planning to build a giant plant in Debrecen, eastern Hungary. The cost of investment is €1bn. The plant is expected to manufacture 150,000 conventional and electric vehicles a year. Currently, BMW has 30 production units in 14 countries, 16 of which are in Europe, including five in Germany and three in the UK. BMW also has two plants in the US, two in...
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Airbnb growth in Prague outpacing hotels

Aug 06, 2018 09:00 am
The total number of units rented by Airbnb clients rose 30 percent in 2017 to 17,753. Of these, 56 percent were offered by entities that had three or more properties registered on the Airbnb network, while just 30 percent were the only property offered by the owner. According to Colliers International this suggests that a large portion of the properties on offer are being...
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