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Tuesday, 28.02.2017, 14:37
While last December a court initiated the reorganization of the construction company Bauschmidt, the company has not submitted a reorganization plan, but is instead applying for the reorganization to be finished and will probably go bankrupt, writes LETA/BNS.
Keyword tags: Construction, Estonia, Markets and Companies, Real Estate
The long-term goal of the Latvian Baltic Energy Efficiency Facility (LABBEF) established last year is to provide EUR 500 mln for housing renovation in Latvia over the next 10 years, Nicholas Stancioff, co-founder and board member of LABEEF, said at a news conference on Friday writes LETA.
Prices of standard-design apartments in Riga rose by 7.6% last year to EUR 706 per square meter on average, said Arco Real Estate board member Maris Laukalejs in a press conference on Thursday writes LETA/BNS.
The municipal water supplier Vilniaus Vandenys (Vilnius Water) sold its headquarters in Vilnius' Old Town to the Danish-owned property developer Asgaard Property for 3.9 mln euros in an auction on Tuesday.
The only Latvian construction companies that at the moment meet the requirements on companies that want to apply for building a new prison in Liepaja are the joint-stock company UPB and Re&Re, both in terms of turnover and having the industrial security certificate, as LETA has found out.
Statistics Lithuania informs that, based on the data from the Building Permits and State Construction Supervision Information System of the Republic of Lithuania (IS) Infostatyba, in IV quarter 2016, against IV quarter 2015, the number of building permits issued increased by 13.8%, of which for the construction of new residential buildings – by 27.9%.
The Health Inspectorate has concluded after inspecting the new wing of Pauls Stradins Clinical University Hospital that the new facility may officially open as the past faults ascertained at the building have been solved, as the inspectorate told LETA.
The net profit of the listed Estonian builder Merko Ehitus, which also ownes Latvian company Merks, contracted 38.8% year on year to 6.1 mln euros in 2016, while revenue grew 0.4% to 252 mln euros, reports LETA/BNS.
A criminal process has been opened on failure to observe security requirements in the parliament building, as Prosecutor General Eriks Kalnmeiers told Saeima National Security Committee today reports LETA.
Even though developers retain a conservative posture, the real estate market of Tallinn was rather active last year and prices rose to the levels of the boom years of 2006-2007, realtor Uus Maa said LETA/BNS.
The Office of the President has decided to abandon the plan tabled during the tenure of Toomas Hendrik Ilves to renovate the seaside Liberty estate in the Tallinn suburb of Rocca al Mare for more than four million euros to serve as the residence of the head of state, informs LETA/BNS.
The Swedish property investor Claesson & Anderzen AB has put the building of the former central post office of Tallinn up for sale along with several other properties in the Estonian capital as part of a plan to relocate its investments to Germany, writes LETA/BNS according to Postimees information.
Municipalities in Estonia spend to the tune of one million euros per year to maintain empty apartments, and since municipalities have the right to relinquish title to individual items of property, this cost may soon have to be incurred by the state, Auditor General Allar Karis said LETA/BNS.
The Chinese company Citic Telecom has finalized the acquisition of the telecommunication business of Linx Telecommunications B.V., which includes Linx's 470 kilometer submarine fiber network in the Baltic Sea and its network operations centers in Moscow and Tallinn, Estonia, reports LETA/BNS.
Recent developments indicate that the Estonian property market may be in a danger of bursting, real estate developer Urmas Soorumaa said LETA/BNS.