3Things: Logicor, Moneta + Air Bank, Europe’s energy crisis

Logicor

Robert McLean

#cee, #proptech, #development a #architecture

Logicor has completed a new warehouse facility in Mogoșoaia, Romania. The 38,000 sqm Building D is already fully leased, meaning that Logicor Bucharest I logistics park now totals four buildings offering 125,000 of floorspace. Tenants are from a variety of sectors including FMCG (Kaufland Romania, Top Line Distribution, B&B Romania), Pharma (Fildas Romania), logistics and distribution (Vector International, developing an additional 22,000 sqm built-to-suit warehouse targeting BREEAM Very Good. Bartosz Mierzwiak, MD for CEE & Northern Europe says that demand is continuing grow for locations around Bucharest and across Romania, where Logicor owns 450,000 sqm of logistics zoned land.

Airbank merging with Moneta Money Bank

Opponents of the merger between Moneta Money Bank and PPF’s Air Bank lost their fight as shareholders agreed to the CZK 26 billion transaction. The result will be a new banking group with 2.5 million clients, as Moneta and Air Bank have grown quickly in recent years. And they both have a youthful bent to them. Moneta only dove into the mortgage market a few years ago, but already has around 7% market share. The nimble Air Bank is popular with younger customers because of its focus on ultra-low bank fees and online transactions. These types of banks have begun to dig into the usual Czech heavyweights like Česká spořitelna, ČSOB and Komerční banka. Assuming the regulatory issues are cleared up in the coming months, PPF is expected to put together consumer packages combining its holdings of other companies such as O2, CETIN and TV Nova.

Europe’s energy crisis came into focus yesterday when the flow of natural gas through the Yamal-Europe pipeline stopped. Technically, in fact, gas was actually heading east, rather than the more normal westwards direction. This coincided with record high gas prices for the continent, but Russia insists the halt to gas flow has nothing to do with rising political tensions. Two major German customers told Reuters that Gazprom is meeting its contractual duties. The gas supplier claimed that no orders for gas export capacity had been booked for today (Dec 22). Europe’s gas supplies are low at the moment, making prices more dependent upon imports. If this winter is excessively cold, there are real concerns over the potential for blackouts.

 

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