We achieved solid results in the first quarter of this year, improving our gross margin on rental activity by 23% and improving our FFO by 27%. - said Thomas Kurzmann, GTC’s CEO.

Hyprop holds steady with sold interim growth

Hystead Limited (Hystead), a UK company co-owned by Hyprop Investments Limited (Hyprop) and PDI Investment Holdings Limited (PDI), today announced that it has acquired a 90% interest in two Croatian shopping centres.

UK-based Hystead Limited (Hystead), co-owned by Hyprop Investments Limited (Hyprop) and PDI Investment Holdings Limited (PDI), today announced the Euro 156 million acquisition by its subsidiary Balkan Retail NV of all the shares in Bulgarian company AP Retail I EOOD (AP Retail), which owns The Mall shopping centre located in Sofia, Bulgaria’s capital city.

NEPI subsidiary, NEPI Project One EOOD, concludes acquisition of Serdika Centre and Office in Bulgaria from Einkaufs-Center Sofia GmbH & Co. KG.

Wednesday, 05 December 2007 02:00

Group Five wins road tender in Hungary

Construction company Group Five announced that its infrastructure concessions business, intertoll, was part of a consortium that had been awarded the R11 billion M6 Phase 3 Motorway Project in Hungary.

Construction IndustryIntertoll held 10% of the concession company and would lead the operations and maintenance activities for the project, it said.

Revenue was expected to start flowing through to Intertoll from the beginning of next year, with full-scale operations beginning in 2010.

Intertoll’s partners on the project are Strabag of Germany, France’s Colas and John Laing Infrastructure from the UK.

The 78km dual carriageway project includes the construction and maintenance of 55 structures and four tunnels totalling more than 3km. The 30-year concession project reached financial close on November 21.

Intertoll was part of Group Five’s infrastructure concessions business and offers toll system design, procurement, implementation and operation, together with related services such as routine road maintenance.

The business has equity interests in two other service concessions in Eastern Europe and operates toll roads in SA.

“Since joining the European Union in 2004, the transit traffic through Hungary from Romania and Bulgaria has increased more than 30%.

Hungary has ambitious plans to develop its road infrastructure under an aggressive timeline, and the M6 Phase 3 is an important part of this plan,” said head of Group Five Infrastructure Concessions Eric Vemer.

Vemer said that the project reinforced and added depth to Intertoll’s position in Hungary and the group’s growing profile in eastern Europe.

The project was tendered and closed in record time, with pre-qualifications announced in May, tenders submitted in September, the preferred bidder chosen in October and financial closure last month.

Group Five last month said it had further expanded its manufacturing and construction materials portfolio by acquiring Bernoberg, a small niche manufacturer of cement extender, for R32m.

Early this year, the group said that it planned to increase its revenue from R5,8 billion to R7,3 billion by the end of the 2008 financial year next June.

 

Most Popular

Tshwane Regional Mall Is Inevitable

Jul 26, 2018
TSHWANE REGIONAL MALL
The company hosted a site walkabout to showcase this majestic development meant to…

2018 South African Institute Of Black Property Practitioners(SAIBPP) annual convetion to address'The new normal' In SA property

Jul 24, 2018
Nkuli Bogopa-SAIBPP
The South African Institute of Black Property Practitioners (SAIBPP) will be hosting its…

Investec Property Fund announces leadership changes

Jul 30, 2018
Nick Riley
Nick Riley to assume broader leadership role within Investec Bank Limited (“IBL”), with…

Liberty Two Degrees unlocks value in line with strategic objectives

Jul 25, 2018
Amelia Beattie
Liberty Two Degrees (“L2D”), a premier retail and South African focused REIT, today…

Intu Properties-Interim results for the six months ended 30 june 2018

Jul 26, 2018
DAVID FISCHEL
Intu Properties-Interim results for the six months ended 30 June 2018 winning…

Please publish modules in offcanvas position.