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23 August 2010
Global 2010 RE investment may rise 50% - JLL
Global commercial real estate investment reached $66bn in 2Q10, nearly double the market bottom one year ago, and realtor Jones Lang LaSalle sees full year 2010 up 40% or 50% over 2009 to some $300bn.
Pirelli equity agrees Prelios name, capital boost
Shareholders of Italian listed group Pirelli & C. Real Estate have approved a change of name to Prelios, and also a boost of up to 10% in equity in which the banks Mediobanca and UniCredit have expressed interest in subscribing for a total E20m
DIC Asset sees market base, first upturn signs
Frankfurt's listed office investor DIC Asset has experienced a bottoming-out in the market for several weeks and is seeing first signs of improvement. It still expects a tough environment, though with rising take-up and decreasing rental incentives.
BREAKFAST WITH PIE - Austria-Hungary, 17 September, London
Austria-Hungary Property Breakfast - Friday 17 Sept., London - posing the question "Will Austria & Hungary, in echo of historic precedents, lead regional real estate out of crisis?" Registrations open soon. Participation fee is £195. PIE subscribers gain free entry to four PB's over a 12-month subscription. Questions/pre-registration: events@pfeurope.eu
Poland clears Unibail-Rodamco Simon Ivanhoe deal
The Polish competition authority has approved the E715m acquisition by French-Dutch REIT Unibail-Rodamco of mall investor Simon Ivanhoe, a joint unit of US REIT Simon Property and Ivanhoe Cambridge.
ORIE to continue fight against Grand Paris tax
Ile-de-France commercial property body ORIE will continue to push for an alternative to the controversial capital gains tax adopted by the French parliament as the way of financing the massive Grand Paris urban renewal project.
Italy Research Forum issues first joint office study
Italian research executives from six realtors, in the enlarged Italy Research Forum that aims to boost market transparency, have released their first joint document on the office market.
French Gecina aims to boost office, healthcare
French REIT/SIIC Gecina, until recently grappling with severe corporate governance controversies, aims to grow the office portfolio to E9bn and its healthcare assets to E1bn over the next three years.
French Eurosic sees possible corporate tie-up
French REIT/SIIC Eurosic could link up with another property company rather than being fully sold off by parent company BPCE, says Eurosic CEO Jean-Eric Vimont.
Istanbul office investment accelerates in 2Q10
Office investment in the Turkish metropolis Istanbul accelerated in second quarter 2010 after many international firms that had suspended a search for assets in the global crisis re-entered the marketplace, says realtor Propin Property Investment Consultancy.
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