nr. 2 / September 2008 |
Dear reader,
Welcome to the second edition of our English newsletter ECRU, an update twice a year on interesting ECORYS-projects and market developments in the field of regional development, urban development and real estate throughout old and new Europe.
We are pleased to take you on a short tour from the IKEA investment decisions in Poland towards ING’s in Turkey as well as from an integrated development plan in Cluj-Napoca (Romania) to the large-scale Ymos JUG ll project in Osijek (Croatia).
We do hope you will enjoy reading our newsletter. On the right hand side of the webpage, you can subscribe/unsubscribe to the later editions.
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| Business case Panoramic, Cluj Napoca |
| ECORYS has carried out a discounted cash flow (DCF) analysis for a real estate development near Bontida, a small community near Cluj Napoca, Romania. The analysis shows that in the expected case scenario the planned development of 380 apartments, a hotel with 150 rooms and conference facilities, a supermarket and a gas station will be profitable. |
| Market scan JUGII Osijek, Croatia |
In a joint venture with the name Ýmos’, Dutch housing association Ymere and the city of Osijek in Croatia are planning to develop 1,500 dwellings in Osijek over a period of 10 to 15 years. Ymere asked ECORYS to explore the local housing market and assess the market potential of this planned development. |
| ECORYS Hungary produces development programme for M1 Europolis Business Park |
ECORYS Hungary has produced a development programme for a logistical park extension next to the M1 motorway, west of Budapest for a large German real estate investor. The study is based on market research, urban development survey and infrastructure analysis. The programme includes a functional mix (logistical, retail and office), a rental pricing strategy and a phasing proposal. |
| Retail feasibility studies Slovakia |
With the ongoing economic development of Slovakia, increasing retail development activity is focused on the smaller cities in the northern region of the country. Where developers used to have the opinion that cities needed around 100.000 inhabitants in order for developments to be feasible and successful, nowadays cities of 50.000 inhabitants or less are targeted with development initiatives. |
| Research paper Turkey Real Estate market |
| During the last five years the economy and real estate market of Turkey has experienced strong growth. This growth stimulates international real estate development and investment companies to enter the Turkish market in order to achieve high returns on their investments. An essential step in the market entry process for most of the companies is an evaluation of the real estate market and other relevant aspects that one has to take into account when developing or investing in a new market. For ING Real Estate, ECORYS wrote the Turkey Research Paper, which formed the foundation for ING’s entry strategy. |
| Feasibility study retail market Zagreb |
| A Dutch developer and investor specializing in retail development, asked ECORYS in May of this year to carry out a feasibility study of the retail market in Zagreb. At the moment this client is negotiating about the parcel of land they would like to buy and develop into a shopping centre. The location is situated at the outskirts of Zagreb. The research carried out by the ECORYS team will help them in their decision. |
| Sustainable Development of Croatia’s War Affected Areas- County Development Capacity & Management |
Croatia is in a process of strengthening national and local capacities for implementing programmes and projects aiming at the socio-economic revitalization of its counties, particularly those including war-affected regions. In 2003-2006 ECORYS successfully assisted the Croatian authorities in drafting a national strategy and legal framework for regional development, in setting up the institutional framework for regional development, and in developing a culture and working model for partnership and structured consultation. In 2005 ECORYS was commissioned a 32 months follow-up project focusing on 4 counties with war-affected regions (counties of Karlovac, Lika, Slavonski-Brod and Pozega). The main objectives of this project are to identify and prepare projects for tendering under CARDS 2004 and other (donor) programmes, to build capacity of relevant national ministries and county administration, Programme Management Units (PMUs) and other stakeholders in the region, and to widen and to deepen the institutionalization of the regional development process including intra- and inter-regional partnerships. |
| Housing market analysis Zagreb, Croatia |
Redema International has obtained a section of land in Zagreb (Croatia), and is working on the development of a housing project for this location. To get a better insight into the local market situation and the possibilities in housing development in Zagreb, Redema asked ECORYS to execute a feasibility study. With this study, ECORYS provides Redema with insight on the potential size of target groups in different product segments of the development and suitable product-market combinations, as well as risks and opportunities. |
| International orientation strategy |
| ECORYS has recently carried out an international orientation strategy study for a Dutch development company. This study was done in two parts, starting with a quick-scan of the housing markets of 11 countries in Europe and one outside Europe, before focusing on a select group of countries, based on information put together in a transparent decision model. The in-depth study of the select group of countries was made more profound by complementing information on the local / regional economies and housing markets to select the regions with the biggest potential. Examining the residential market on a ‘field research’ basis by visiting these areas provided up to date market information and a clear overview of the ‘qualities’ per area. |
| ECORYS Polska analyses Wroclaw region for IKEA |
| In ajoint venture with the name Ýmos’, Dutch housing association Ymere and the city of Osijek in Croatia are planning to develop 1,500 dwellings in Osijek over a period of 10 to 15 years. Ymere asked ECORYS to explore the local housing market and assess the market potential of this planned development. |
| ECRU nr. 2 / September 2008 |
| ECRU nr. 1 / July 2007 | |
| ECORYS Holding website | |
| ROTA Newsletter December 2007 |
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