Colliers managing Poznań’s Bałtyk offices

Colliers International has been appointed as the manager of the Bałtyk office building in Poznań. The 16-floor property, which is located in the city’s Jeżyce district, comprises 15,000 sqm of space. It is owned by Garvest Real Estate and Grupa Kapitałowa VOX. One of the most recognizable buildings ...

Locked content Echo sells remaining EPP stock

Echo Prime Assets, a subsidiary of Echo Investment, has received an offer and confirmed the terms of sale of 15.2 million shares in Echo Polska Properties (EPP) for €17.1 million, minus transaction costs, the company has said. The expected date of settlement of the sale of shares is no later than No...

Locked content WSE turnover plummets in October

Equity turnover on the main market of the Warsaw Stock Exchange in October amounted to PLN 16.53 billion, a 22.6 percent year-on-year decrease, the stock exchange has announced. The bourse also announced that turnover on the bond Catalyst market amounted to PLN 177.1 million last month, a 26.8 perce...

Locked content EBRD buys 4.5% stake in BGŻ BNP Paribas for PLN 430 mln

The European Bank for Reconstruction and Development (EBRD) acquired a 4.5 percent stake in BGŻ BNP Paribas for PLN 430 million. “The engagement takes place in the context of the completion of BGŻ BNP Paribas’ acquisition of the core assets of Raiffeisen Bank Polska as announced in April 2018. The t...

Locked content Coal sales down in September

Polish coal miners sold 5 million metric tons of coal in September, down by 0.47 million tons m/m and down by 0.4 million tons y/y the Industry Restructuring Agency (ARP) said. Coal production in September amounted to 4.9 million tons, down from 5.41 million tons the month before, and down by 0.7 mi...

Locked content FinMin: 45 financial institutions meet PPK criteria

The Ministry of Finance estimates, that there currently 45 financial institutions that meet the criteria for managing employer-sponsored pension plans PPK. The qualifying institutions include 14 investment fund managers, 10 pension fund managers, and 21 insurers. The new program seeks to have firms ...

Locked content Companies to be able to tap into KZN land bank – draft bill

The Ministry of Investment and Economic Development proposed a draft bill that would allow companies to take advantage of the state’s land bank KZN. The companies would be allowed to acquire such plots through public-private partnership. “The proposed measures will encourage investors to build apart...

Locked content KNF: insurers with PLN 3.81 bln H1 profit

Net profit of insurers operating on the Polish market increased to PLN 3.81 billion in H1 which is a 0.67 percent y/y increase. Gross written premiums amounted to PLN 32.12 billion and were higher by 1.73 percent than last year, the Financial Supervision Authority (KNF) reported. The gross value of ...

Locked content Poland to extend moratorium on retail tax till 2020

The government plans to extend the suspension of the retail tax to January 2020, according to the draft of the bill. The current suspension runs out at the end of this year. The tax legislation was passed in 2016, but after an inquiry by the European Commission was suspended….

Locked content LPP launches store in Kazakhstan

WSE-listed fashion retailer LPP opened its first flagship Reserved store in Kazakhstan’s Almaty last week. The store has 2,385 sqm of retail space. The company plans to launch its three other brands in the city in November, the company said in a market filing and introduce all the remaining br...