International Internet Magazine. Baltic States news & analytics
Friday, 29.07.2016, 03:07
The State Land Service Director General Elita Baklane-Ansberga has handed in her resignation to Justice Minister Dzintars Rasnacs, reports LETA.
Keyword tags: Latvia, Real Estate
The number of transactions with apartments in Latvia in the second quarter of this year rose by 23.6 % y-o-y, real estate company Ober-Haus said in its latest market review, cites LETA.
Revenue of the listed Estonian gaming operator Olympic Entertainment Group (OEG) in the first six months of the year increased 14 % to 92.4 mln euros, while the company's net profit fell 17 % to 9.8 mln euros, writes LETA/BNS.
At the end of July, the LNK Properties department of real estate development of the LNK Group holding company will begin construction works within the framework of a new business-class residential project on 10, Jasminu Street in Bulduri, Jurmala. LNK Properties will invest a total of 7 mmln euros in the project, LNK told BC.
- Nearly half of Latvians, or 49%, expect property prices to rise in the near future, which is by 7% more than a quarter ago, according to SEB Banka's latest Housing Price Indicator.
EfTEN Kinnisvarafond II AS and KanAm Grund Kapitalverwaltungsgesellschaft mbH today announced BC that EfTEN has acquired the Domina Shopping Center from KanAm.
Jessy Investments B.V., a company of the listed Estonian gaming operator Olympic Entertainment Group (OEG), entered into an agreement to sell to East Capital group company ECB3 Tallinn OU its 100 % holding in its Estonian subsidiary Kesklinna Hotelli OU that owns the hotel and entertainment complex in which the Hilton Tallinn Park hotel and OEG's flagship Olympic Park Casino are located, writes LETA.
The Riga housing market continued to show steady growth in June as the number of apartment transactions jumped 13% against June 2015, said Aigars Zarins, CEO of Balsts real estate company, cites LETA.
About EUR 15 mln have been invested in renovation fo Semara Hotel Lielupe SPA & Conferences in Latvia’s seaside resort Jurmala, writes LETA according to the hotel’s representatives reported.
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.
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.