International Internet Magazine. Baltic States news & analytics
Friday, 01.07.2016, 00:12
EfTEN Capital’s investment fund EfTEN Real Estate Fund III AS purchased three logistics centres in Estonia, Latvia and Lithuania, owned and occupied by group companies of DSV, one of the largest logistics groups in the world.
Keyword tags: Baltic, Funds, Investments, Real Estate, Transport
The Saeima Mandates, Ethics and Submissions Committee on June 29th rejected a public initiative calling for restoration of the original Victory Square in the Latvian capital Riga, the parliamentary press service informed LETA.
Data of the Central Statistical Bureau (CSB) show that, compared to April, in May 2016 the level of construction costs in Latvia increased by 0.2%. Labour remuneration of workers went up by 1.2%, maintenance and operational costs of machinery and equipment increased by 0.1%, whereas the prices of building materials went down by 0.2%.
New data published by the Central Bank of the Russian Federation show that overseas remittances for real estate purchases are still shrinking. The total volume of transfers was down 30% year-on-year, checking in at just USD 199 million, compared to USD 281 million in Q1 2015. This marks a new low for Russian overseas property investments since records first started in 2009, after just USD 178 million left the country between January and March.
US-based hotel giant Marriott International would like to see more than one Marriott-branded hotel in Lithuania, with the greatest potential seen in the economy and mid-priced segments, the business daily Verslo Zinios reported on June 29th, writes LETA/BNS.
Lithuania's property developer Eika is looking for new investors and is considering setting up a commercial real estate project management company that would possibly float its shares on the stock exchange, Verslo Zinios reported on June 29th, cites LETA/BNS.
The Latvian government on June 28th approved the Economics Ministry proposals for granting additional EUR 2.5 million to the government program intended to help families with children buy their first home and setting a EUR 200,000 ceiling on the value of the property to be purchased under the program, reports LETA.
Three information signs made of bronze will be put up at the Freedom Monument, one of Latvia’s national symbols located in the center of the Latvian capital Riga, informs LETA.
The Lithuanian capital has scrapped plans to build the so-called Vilnius House in Moscow and is set to liquidate its subsidiary responsible for the project, the daily Lietuvos Zinios reported on Tuesday, cites LETA/BNS.
In a landmark referendum, UK citizens opted to leave the European Union with a lean majority of 51.9% to 48.1% on Thursday, June 24th. The fall out has already hit the markets as the pound plunged to its lowest point in more than three decades. The FTSE 100 shed a historic 8% and £140 billion within minutes of opening on Friday while bank shares like Barclays and RBS plummeted about 30%.
The ruling coalition parties in Latvia on June 27th agreed to grant additional EUR 4 million to the government program intended to help families with children buy their first home and also decided to introduce a ceiling on the value of the property to be purchased under the program, Latvian Prime Minister Maris Kucinskis (Greens/Farmers) told he press after the meeting of the ruling parties, informs LETA.
The Estonian real estate developer E.L.L. Kinnisvara is to build a complex consisting of two office buildings and one residential building across the street from the Olumpia hotel in the Tallinn city center, and the first stage of the construction, which includes building a 30-storey office building and an underground parking lot is to be finished in 2020, reports LETA/BNS.
During the first three months of 2016, the Latvian market of land for private development showed growing activity for the second consecutive quarter, as transactions increased by about 15% and the market expanded by 5%, informs LETA, according to the latest housing market review released by Latvian real estate company Latio.
The Tallinn city government has initiated a procedure to prepare a detailed plan for the plots at Narva Road 129 and 129b and nearby areas where the city's new main hospital complex is about to be built, informs LETA/BNS.
Estonian manufacturer of module homes Harmet OU saw its revenue increase 42.1% year over year to 54.4 million euros in 2015, mainly as a result of a substantial increase in the share of the Swedish market, informs LETA/BNS.