EAST EUROPEAN REAL ESTATE AND CONSTRUCTION BOOM PROVIDES OPPORTUNITIES FOR U.S. FIRMS.
EAST EUROPEAN REAL ESTATE AND CONSTRUCTION BOOM PROVIDES OPPORTUNITIES FOR U.S. FIRMS. LINDEN, N.J., Nov. 5 /PRNewswire/ -- While the outlook for the United States real estate market is gloomy and prices have steadily declined, the markets of Poland, Hungary and Czechoslovakia have begun to boom. With so many foreign companies expanding their operations into these countries, experts predict that demand for commercial and residential real estate will continue beyond the year 2000. A number of Western developers have already engaged in development projects, with very promising results. For example, the recently completed IPC Business Center in Warsaw, and Australian-Posh joint venture, is now leasing office space for $45/sq. ft., and retail space for $82/sq. ft. Demand is so high that approximately 70 percent of the project's space was pre-let prior to completion. Poland alone is expected to require 4.3 million square feet of quality office accommodations before the middle of next year, while only 1.3 million square feet of space is scheduled to be built. Approximately 3.6 million homes will also be needed in Poland by the year 2000. Coupled with a developing banking system which recently introduced mortgages, and a number of U.S. government programs which offer financing and support, developers can now enter the market with confidence. Due to Eastern Europe is rapidly maturing marketplace and its growing demand for quality accommodations, Tracking Eastern Europe - Executive Business Guide, which recently celebrated its 100th issues, is featuring a series of in-depth studies which will provide a guide to the commercial, office, retail and hotel and residential real estate markets in Eastern Europe. The first article, focusing on Poland's office market, will appear in the Vol. 3 week 112 issue. The series will continue throughout the following 12 issues, providing a comprehensive overview of Eastern Europe's construction and real estate industry and markets, complete with trend analyses, demand statistics, costs and rental or lease prices. The articles will also point toward viable investments and will act as a guide for potential investors on how to approach the Eastern European markets. Tracking Eastern Europe -- Executive Business Guide has been published in the USA since August 1990. It is a publication of A.M.F International Consultants, with offices located in the USA, and A.M.F. Plus Group Ltd, with offices located in Poland. Tracking Eastern Europe - Executive Business Guide is available through A.M.F. International Consultants, 908-486-3534, or fax 908-486-4084. -0- 11/5/92 /CONTACT: Kim Kosciuk of A.M.F. International Consultants, 908-486-3534, or fax, 908-486-4084/ CO: A.M.F. International Consultants ST: New Jersey IN: PUB SU:
LD-AH -- NY129 -- 7964 11/05/92 17:20 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 5, 1992|
|Previous Article:||GENERAL DYNAMICS AWARDED CONTRACT|
|Next Article:||INTERNATIONAL TOTALIZATOR SYSTEMS REPORTS THIRD QUARTER RESULTS|