Lublin Airport to be open within three years

Pamporovo hotels almost fully booked as tourists ski in the sun

Munich revealed as commercial property hotspot of Europe

UAE decides to protect ‘historic’ buildings

Turkey, Georgia and Azerbaijan sign railway deal

Lublin Airport to be open within three years

The Lubelskie Voivodship authority in Poland will spend almost €25m on building a new airport in Swidnik near Lublin. Construction of the airport is regarded as one of the key tasks in the Regional Operational Plan for 2007-2013.

According to plans, preparations for the investment will take a year to complete and the construction work itself will take two years.

Pamporovo hotels almost fully booked as tourists ski in the sun

Hotels in Bulgaria's Pamporovo winter ski resort are nearly 100% reserved, according to local reports.

Most foreign visitors are arriving from the UK reported Bulgarian news agency BTA, which also sited considerable amounts of Irish, Russian and Maltese tourists.

At the beginning of the current winter season, Bulgarian ski resorts were suffering from a lack of snow but ski conditions improved at the beginning of February and snow coverage in some areas has reached 70cm.

However, just a week later, temperatures soared to up to 20 degrees Celsius in some areas of Bulgaria, which meteorologists said was exceptionally high for the time of year. The previous all time high was 19.6 degrees, recorded back in 1912.

But the warm front has not reached all of the slopes. The snow coverage at Vitosha Mountain, close to Sofia, reached 65cm and the temperature is -3 degrees. Borovets winter resort’s snow coverage varies between 90 and 120 cm. Temperatures in Bansko and Pamporovo winter resorts are positive. Bansko’s snow coverage is up to 110cm but in Pamporovo the slopes have less than 40cm of snow.

Mountain rescue services warned that the high temperatures increase the threat of an avalanche.

Munich revealed as commercial property hotspot of Europe

A commercial property investment boom is predicted in Germany, according to a report published by the Urban Land Institute (ULI) and PricewaterhouseCoopers. Emerging Trends in Real Estate Europe interviewed 400 of the industry’s leading authorities to identify Europe’s top cities for real estate investment.

German cities took two spots in the top ten for the first time in the report’s four year history. Munich jumped 13 places to fourth place while Hamburg climbed five places to be the ninth top investment prospect for 2007.

The report said of Munich: ‘Rising office demand, a vibrant city centre, and an educated workforce create synergy for this city’, said the report. It is a strong ‘buy’ market, with nearly 65% of the survey participants advising buying office space in Munich; nearly 55% for retail space; and nearly 48% for industrial/distribution space.’

Bill Kistler, President of ULI Europe remarked: “ Germany has been resurgent in the last two years. International investors with capital to spend have targeted the market and this has flushed out institutional and government stock. This, combined with improving fundamentals, ensures that Germany will be the hottest market for 2007.”

Paris rated highest overall for both total return prospects combined with a low level of risk. Survey respondents pointed to the city’s economic stability and sustainability, in addition to its status as a global gateway, as major reasons for its top ranking as an investment market. Ample urban regeneration and redevelopment opportunities also attract investors, noted the report. As a top market for the past several years, ‘ Paris still has good prospects for the next two years’, the report said.

Paris is a favorite among those looking to buy property as well; about 54% of the respondents recommend buying office space in Paris, 57% recommend buying retail, and 41% recommend buying industrial/distribution properties.

Investors rated London a strong ‘hold’ market with 44% of the participants recommending holding office space in London; nearly 41% advised holding retail; and nearly 59% advised holding industrial/distribution space.

In terms of city development prospects, the report ranked Istanbul highest, pointing to its movement as a maturing global market. One respondent said: “ Istanbul will be the star of the next decade.”

UAE decides to protect ‘historic’ buildings

The UAE is set to introduce a new law in the next couple of months which will prevent the demolition or alteration of historic buildings in the country, reported Gulf News.

There are around 1,200 historic buildings in the UAE and roughly one a week is currently being knocked down. Any building constructed before 1960 is to be regarded as historic under the new legislation.

Turkey, Georgia and Azerbaijan sign railway deal

A framework agreement for the construction of a railway linking Turkey, Georgia and Azerbaijan was signed on 7 February in the Georgian capital of Tbilisi.

The Kars-Tbilisi-Baku railway will connect the railway network systems of Turkey, Georgia and Azerbaijan. The Georgian foreign ministry said the project was now in the implementation phase following the completion of the Baku-Tbilisi-Ceyhan oil pipeline project.

The railway will provide uninterrupted, reliable and rapid transportation of both passengers and courier items. Construction of the railway will begin in June this year with completion expected two years later.