ARTICLES LABELLED WITH TAG SEE

GTC has signed a €60 million refinancing and investment loan with Raiffeisen Bank International AG for the refinancing of Green Heart, its new office project in Serbia. The office park has already reached a prelease level of 42%.

Greece's Alpha Astika Akinita has sold its Serbian subsidiary Alpha Real Estate to Mat Real Estate for €8.4 million euro. The transaction was carried out on November 28, Alpha Bank’s subsidiary announced on the Athens Stock Exchange.

Strong economic growth, booming tourism and increasing construction activity characterise one of the least well-known markets of the CEE/SEE region. Total office stock in the capital barely exceeds 100,000 sqm, which results in one of the highest rental fees in the region. The situation is, however, about to change as new mixed-use projects of higher quality should increase the pressure on landlords. Stela Dhami, Managing Partner at Colliers International shared us her positive outlook on the Albanian market.

GTC Serbia announced that it has managed to secure lease agreements with several new brands for its latest Belgrade development, Ada Mall. The opening of the 34,000 sqm mall is scheduled for autumn 2018.

Aberdeen Asset Management has sold the King Cross shopping centre in Zagreb to SES Spar European Shopping Centers. The transaction price has not been disclosed.

Robust GDP growth, wage rises and price inflation are the drivers of retail sales across the CEE region, says Colliers International in its latest research report. Key findings of the report include:

GTC currently has 6 projects under construction with over 145,000 sqm GLA. The company also has 6 projects in the planning stage with over 143, 000 sqm of office space and 61,000 sqm of retail space, in addition to 2 extensions of existing projects for 5,100 sqm. GTC presented its Q3 2017 financial results.

Investment flows into the CEE-6 region’s commercial real estate markets rose 12% y-o-y in the first nine months of 2017. The €7.6 billion closed deal total coupled with a still full pipeline of deals under consideration suggests that the annual cycle high of €12.2 billion invested last year is likely to be matched or overhauled. Substantial growth in Czech and Bulgarian volumes were the drivers of the momentum in the January-September 2017 period, says Colliers International in its latest report.

Albanian company Balfin Group has acquired a 155 000 sqm plot of land, 1.5 km from the centre of Skopje. The company plans to develop the first mixed-used real-estate development project in excess of 250,000 sqm gross build area, estimated to be largest private investment of this type in Macedonia. The development plans include a new 45 000 sqm gross leasable area shopping mall, residential block and an office park. The overall total investment of the company is planned to be circa €180 million over a time-span of 5-7 years, with €100 million investment in first phase, creating thousands of new jobs and opportunities. The company states that the shopping mall will be developed first, and the apartments and office towers over the next 5-7 years.

The Bulgarian property market is booming with the total transaction volume expected to exceed €1 billion in 2017. The outlook for the future is highly positive: strong demand, underpinned by solid economic growth, encourages developers to start new projects in all segments of the market.