The Hartenberg investment group from the trust fund of the ending Prime Minister Andrej Babiš is expanding its activities in the field of real estate construction. For higher hundreds of millions, it will acquire half of the projects in the Slovak developer Corwin, which, in addition to the domestic market, also operates in Slovenia. Corwin’s collaboration with Hartenberg will involve higher units of real estate projects. In Slovenia, for example, Corwin is already building a residential quartet project with more than two hundred flats and is preparing to build what is said to be the largest and most sustainable office complex in the country.
The company with a turnover of two billion, Prusa Research, wants to move from Holešovice within two to three years, where it employs over seven hundred people. The capacity of the local headquarters, where it develops and manufactures 3D printers, is no longer enough. The owner of the company, Josef Průša, therefore bought the Strasbourg complex in Švábky Street in Palmovka. At the same time, he showed interest in the unfinished Nová Palmovka building, which is owned by the Prague City Hall. The cost of transforming Nová Palmovka could reach up to one billion crowns. According to Průš’s vision, not only space for production and offices could be created on the site, but also open spaces such as a public technology workshop, a library, a technology incubator, a teaching hall, a kindergarten or a gallery. Průša also intends to maintain public inspections of the production of 3D printers.
Production of new cars at Škoda Auto will not start until January 10 after the Christmas holidays, while production lines will stop on December 23. According to the unions, the reason for the longer shutdown is the decision of the Volkswagen Group and also the need to make the planned investments in three domestic plants. Škoda Auto has one of the most difficult years in its history. This is mainly due to the lack of chips, due to which the company will not be able to produce tens of thousands of new cars this year. In addition, it will face problems next year.
Domestic steel companies are preparing a big return to the US market. Thanks to the partially abolished tariffs, their export to overseas could increase by units of billions of crowns. These are at least the estimates of the Steel Union. The Ostrava Liberty smelter has already announced that it intends to hire over a hundred new employees due to the planned increase in production.
Fourteen percent down in the past month alone, such is the statistic of one of the most important global indices mapping precious metal prices. These are the cheapest before Christmas, almost since the outbreak of the pandemic. The total loser is the palladium, which has deprived investors of almost 35 percent since the beginning of the year. At the same time, relatively cheap precious metals may have a seemingly paradoxical reason. Namely, the future decline in inflation due to the sharp price brake on US central bankers.
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The displacement of minority investors from O2 will probably not be possible without legal tussles. Activist investor Tomáš Hájek and the law firm KLB Legal have started gathering small displaced shareholders, with whom they would file a joint lawsuit in order to increase the redemption price per share. Their eventual success would mean that the majority, ie the PPF Telco group, would have to pay up to billions of crowns.
The Czech Real Estate Investment Fund (CREIF) has acquired five retail parks in regional cities in Poland. The fund’s portfolio continues to rely on a combination of food outlets complemented by daily necessities retailers.
Although fashion retailers are not experiencing a good year due to coronavirus restrictions, this is not the case for cheap clothing and accessories chains. The Irish Primark, which opened its first store in the Czech Republic on Wenceslas Square in June, is expanding its distribution center in Bor u Tachova. The CTP developer built another, this time fully automated, hall for him. At the same time, Primark has already started looking for managers for a new store in the Olympia Brno shopping center, which it is preparing for next year.
The group of real estate funds ZDR Investments, founded by the owner of the development company Traxial Zdeněk Prázdný, is expanding to Pula, Croatia. On Wednesday, it bought the Pula City Mall retail park with an area of 37,000 square meters worth less than two billion crowns. The seller is the Austrian development group MID-Bau.
The German stock exchange Deutsche Börse keeps pace with the times and strengthens its position in the world of cryptoactive assets. On Thursday, it announced that it had completed the purchase of a majority stake in Swiss fints, Crypto Finance AG.
Domestic groups focused on the construction of renewable energy sources are succeeding in attracting increasingly important investors. The Solek Group will build 150 megawatts of solar power for the world’s largest oil trader, the Trafigura Group. The American wind farms, which are being built by a fund from the group of businessman Tomáš Krsk, will again be receiving electricity from the American Amazon.
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