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|  | | News | | Commercial real estate in Russia. Moscow realty. | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | Berggruen seals Karstadt takeover | The sale of Germany's insolvent department-store chain Karstadt to billionaire investor Nicolas Berggruen was finally approved last Friday, after several months of protracted wrangling over lower rents and debt restructuring
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| | | | | | | | | | Esprit Plans Stores in 400 China Cities | Esprit Holdings Ltd., the Hong Kong- based clothing retailer that derives 83 percent of its sales from Europe, plans to expand its operations to 400 Chinese cities as revenue from the continent declines
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| | | | Esprit Profit Declines 11% | Esprit Holdings Ltd., the biggest Hong Kong-listed clothier, said full-year profit dropped 11 percent as consumer spending in Europe, where it made more than four-fifths of sales, weakened and the euro declined
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| | | | | | | | | | | | | | | | Hermes First-Half Net Beats Estimates | Hermes International SCA, the French maker of luxury handbags and silk scarves, said first-half profit increased 55 percent, beating analysts’ estimates, on demand for leather goods in Asia
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| | | | | | | Debenhams branches out | Retailer to expand out of town during 2011. Debenhams is preparing to expand its out-of-town presence in larger 60,000 sq ft stores and has rehired former acquisitions manager Robert Hadfield to spearhead the push
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| | | | Evans Randall buys London scheme for EUR 296m | Evans Randall has acquired the newly completed Drapers Gardens development in the City of London for £242.5 mln (EUR 296 mln). The vendor is a joint venture including Canary Wharf Group and a subsidiary of the Morgan Stanley Real Estate Funds
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| | | | | | | | | | | | | | | | | | | | | | Predica, FdM buy 48 Accor hotels for EUR 367m | A joint venture of Crédit Agricole Assurances' Predica unit and Foncière des Murs (FdM) has signed an agreement with French hotel operator Accor group to acquire a portfolio of 48 hotels spread across France, Belgium and Germany
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| | | | | | | | | | | | | Eurohypo sees losses narrow in H1 | German real estate lender Eurohypo saw its pre-tax loss narrow to EUR 215 mln in the first half of 2010, largely reflecting revenue growth and reduced costs. The figure compares to a pre-tax loss of EUR 515 mln for the same period in 2009
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| | | | | | | Hammerson confirms talks with Korea's NPS to sell French mall | UK REIT Hammerson confirmed on Tuesday that it is 'in discussions' regarding the potential sale of 51% of its interest in the O'Parinor shopping centre, Aulnay-Sous-Bois, near Paris, to South Korea's National Pension Service (NPS). The stake is said to be worth around EUR 230 mln
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| | | | | | | Immofinanz back in the black | Austrian real estate developer Immofinanz swung back to profit in the financial year ending April 30th, from a loss of EUR 3 bn reported a year before
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| | | | Wal-Mart Profit Climbs | Wal-Mart Stores Inc., the world’s largest retailer, reported a 3.6 percent gain in second-quarter profit as growth abroad helped make up for sales declines in the U.S. The company boosted its profit forecast for the year
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |  News archive |
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| | | | |  | | | | | | Commercial real estate market overview 2008 |  In 2008, supply of high quality office space increased by 1,7 mln. sq. m. The share of class A properties amounted to 30%, and that of class B properties to 70%. Total supply volume of newly built and reconstructed space amounted to 8,3 mln. sq. m. by the end of the year. The delivered space amounted to more than half of the announced volume: due to traditional delays of delivery as well as due the outbreak of the financial crisis in September 2008.
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| | | | Kiev. Commercial Real Estate Market Snapshot. The 4 q 2008 |  Ukraine’s economy has grown rapidly since 2000, and from 2005 economic growth was driven by strengthening domestic demand supported by a credit boom and significant capital inflows. By mid-2008 the economy was overheating with consumer price inflation reaching an annualised rate of 30% and banks were increasingly exposed to foreign funding. However, in Q1-Q3 2008, Ukraine showed remarkable resilience to the global credit squeeze, mainly as a result of a very strong domestic demand.
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| | | | 2008's Retail Property Market Overview |  The Kyiv office market in 2007 continued to follow the previously announced trends. New supply in the office segment was quite comparable to the previous year’s figure, reaching approximately 172,000 sqm. The positive macroeconomic situation in Ukraine led to a 10.2% increase in industrial production, which in turn contributed to a further increase in demand and resulted in take-up of approximately 250,000 sqm.
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| | | | | | | St.Peterburg. Commercial Real Estate Snapshot. The 3'rd quarter of 2008 |  In Q3 2008 office real estate market fell under slowdown on key characteristics (demand, supply, vacancy rate and rental rates). Occupancy rate of existing business centers is high, but one can see stock out of demand in projects under construction. Combined with difficulties in attraction of financing it influenced terms of delivery – most of projects announced to be delivered in Q3 were delayed. Requested Ruble rental rates slightly increased, wearers in view of strengthening of the US dollar requested USD rates even went down.
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| | | | | | | Kiev. Commercial Real Estate Market Snapshot. The 3 |  The Kiev office market is maturing, with developers becoming more sophisticated and new projects growing in quality and size. However, even with some large projects delivered in early 2008, the office market remains undersupplied. At the same time, many new projects have been announced and if completed by 2011, could more than triple the modern office stock. Among the main trends of the office market are growing demand from local and international companies, decentralisation towards the Left bank and outside the CBD, growth of the office component share in mixed(use projects and development of new office centre formats (business parks).
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| | | | | | | The Diverse World of Commercial Real Estate |  Jones Lang LaSalle Real Estate Transparency Index Executive Summary
An Enhanced Index
• The Jones Lang LaSalle Real Estate Transparency Index has been significantly enhanced. The fifth edition of the Index covers 82 markets, 26 more than in 2006.
• Transparency factors affecting occupiers, debt financing, and property valuations were added to bolster the five sub-index transparency categories:
1. Performance Measurement
2. Market Fundamentals
3. Listed Vehicles
4. Legal and Regulatory Environment
5. Transaction Process Global Results
• Transparency continues to rise. Nearly one-half (27 out of 56) of the countries surveyed in 2006 demonstrated improvement between 2006 and 2008. Eight countries oved up a full transparency tier.
• Many countries, by contrast, are not making progress in terms of transparency. Eighteen countries in lower tiers saw little or no improvement in transparency.
• Of the 5 categories, the availability of market fundamentals data and investment performance indices are the two lowest-scoring sub-indices. The transparency of the transaction process is the highest-scoring category.
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| | | | Retail Sector, Moscow, 1 quarter 2008 | Two shopping centers were opened in Ql (see Table 1) increasing the total supply by 114,000 sq. m. (gross leasable area (GLA) of about 49,000 sq. m,). At the beginning of Q2 2008, the total area of professionally developed shopping centers in Moscow was approximately 3,547,000 sq. m. (GLA more than 1,858,000 sq. m.), that in recalculation amounts to 177 sq. m. per 1,000 people. By the end of 2008, about 20 shopping centers (total area of more than 1,580,000 sq. m.) are expected to enter the market.
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| | | | The Newsletter for Real Estate Clients June 2008 |  Dissolving information asymmetry
The primary concern in the securitization market will be to resolve the asymmetrical information that has become apparent and to restore confidence between the banks. This calls above all upon the issuers. The securitization market became increasingly complex over the past few years, and it was barely possible any longer to evaluate the underlying assets. This applied especially when, as in the case of Collateral Debt Obligations (CDOs), different Asset Backed Securities (ABS) were rebundled. Such complex constructs are now virtually impossible to sell and are avoided by investors. The key for issuers will therefore be to simplify structures again and to provide detailed information on the underlying receivables and collateral. The better issuers are able to explain their products and the more thoroughly what underlies them is presented, the more likely investors will be to assume risk again.
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| | | | Global real estate markets |  By the end of 2007 as the credit crunch spread to all corners of the capital market; the downward repricing of commercial real estate assets had begun. The transparent nature of the UK market has been quick to reflect this. In New York, the initial impact of the credit crunch resulted in a curtailment of sales activity, with the volume of investment sales markedly down in the last quarter of 2007 from the same period in 2006. In most other regional markets, the pace of investment activity had not been as aggressive, so the slowdown was not as dramatic. Nevertheless, it did start in these other markets and will surely continue for at least the first half of 2008.
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| | | | | | | Commercial real estate market overview. The 1st quarter 2007 |  In the 1st quarter of 2007, the Moscow office market maintained the rapid growth of development observed in the end of the previous year. Growth of investment activity is characterized by the entry into the market of several large development companies and investment funds among which are MCG, the Singaporean Fund Capitaland...
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| | Analytics archive |
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Statistics
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| Center within the Boulevard Ring | 12.2 | | Western part within the Garden Ring | 12.2 | | Northern part within the Garden Ring | 11.6 | | Eastern part within the Garden Ring | 10.6 | | Zamoskvorechie - Yakimanka | 11.2 | | West - Southwest | 12.2 | | North - Northwest | 14.1 | | East | 7.8 | | South | 8.1 | | |
| Class "A" | 34.1 | | Class "B" | 40.9 | | Class "C" | 15.7 | | Mansion | 9.3 |
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