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CityBee, the UK office joint venture between Europi Property Group and Trinova Real Estate, has secured two lease extensions comprising c.60,000 sq. ft at Cuprum, Glasgow

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LONDON, Jan. 20, 2025 /PRNewswire/ — CityBee, the UK office joint venture between Europi Property Group and Trinova Real Estate, is delighted to announce that lease extensions have been secured with two key tenants at Cuprum, Glasgow.

Cuprum is situated in the heart of Glasgow, blending impressive exterior architecture with contemporary interiors to provide high quality Grade A office accommodation. Cuprum is strategically positioned at the Western gateway to Glasgow City Centre, located within the International Financial Services District and benefitting from excellent public transport links. The building benefits from strong ESG credentials, including an EPC A rating and BREEAM ‘Very Good’.

AXA Insurance UK Plc have committed to remain in occupation of c.33,000 sq. ft across the 3rd and 4th Floors of the building until 2031. An extension has also been agreed with Teleperformance Limited, who retain c.27,000 sq. ft across the Mezzanine, 1st and 2nd Floors of the building until 2030.

These transactions, both completed in December 2024, demonstrate strong leasing momentum for the building and confirm the retention of two high-quality long-standing tenants within the occupier lineup. It is a positive reflection on the recent investment into the building by the Landlord to deliver a refurbished reception and cycle storage, shower and changing facilities, alongside leading ESG credentials.

Avison Young are marketing the remaining 17,000 sq. ft which is now available to lease at Cuprum.

Mike McCarrick, leading the asset management for Trinova, commented:

“We are delighted that AXA and Teleperformance have committed their future occupation to Cuprum. The recent investment that the landlord has made into the space, to provide best in class amenities and secure an EPC A rating, has helped to provide a working environment that has appealed to both occupiers. While Glasgow has experienced challenges with the return to the office, momentum is building strongly, and we look forward to welcoming future occupiers to the building”

James Tootell, Asset Management Director at Europi Property Group, added:

“Demand from office occupiers remains strong for well-located, sustainable buildings that offer high-quality tenant amenities. As businesses evolve, forward thinking companies continue to invest in workspaces that foster collaboration, creativity and innovation within their teams. We are pleased to secure these important lease extensions, which demonstrate the ongoing appeal of Cuprum to occupiers within the Glasgow market.”

For further information please see: 
https://citybee.work
https://europi.se
https://trinovare.com

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About Europi:

Europi Property Group is a pan-European real estate investment company with offices in London and Stockholm, investing discretionary capital across all segments with a flexible investment strategy. Europi has since inception completed public and private transactions of more than €700m in gross asset value alongside its established network of local operating partners and completed four successful exits. By combining a truly entrepreneurial, active ownership approach with focus on social and environmental sustainability, Europi generates long term value and positive impact for all stakeholders.

About Trinova Real Estate:

Trinova is a fully vertically integrated real estate investment and asset management business with a strong focus and successful track record of investing in commercial and residential real estate across the UK, Eurozone and the US.

Trinova currently manages in excess of £1.2 billion of assets under management through multiple mandated segregated accounts and discretionary funds on behalf of its investors.

For further information please contact:
Mike McCarrick, Head of Asset Management, Trinova Real Estate
E-mail: [email protected]

James Tootell, Asset Management Director, Europi Property Group
E-mail: [email protected]

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CGTN: China’s booming ice and snow industry fuels its economic growth

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BEIJING, Feb. 7, 2025 /PRNewswire/ — Harbin, capital of northeast China’s Heilongjiang Province, exemplifies the country’s thriving ice and snow economy.

During the eight-day 2025 Spring Festival holiday from January 28 to February 4, the city has seen booming snow tourism. As an ice-themed park known for its dazzling ice sculptures, Harbin Ice-Snow World attracted over 610,000 visits. In particular, more than 100,000 visits were made on February 1, setting a new record for single-day attendance.

The increasing popularity of the park is partly attributed to the city’s upcoming role as the host of the 9th Asian Winter Games, which will be held from February 7 to 14, marking China’s second major winter sports event following the Beijing 2022 Winter Olympics.

Chinese President Xi Jinping will attend the opening ceremony of the 9th Asian Winter Games and host a welcome banquet for foreign leaders in attendance.

Ice and snow economy enters ‘fast lane’

Xi has paid close attention to the development of China’s ice and snow sports and industries, urging efforts to consider ice and snow economy as a new growth point to promote the development of the whole industrial chain involving winter sports and culture, snow-and-ice equipment and tourism.

In recent years, as winter sports and tourism surged in popularity across China, the ice and snow economy has witnessed significant growth.

According to the General Administration of Sport of China, the number of people participating in various ice and snow sports such as skating, skiing, curling and ice hockey nationwide reached 57.35 million in the 2023-2024 snow season. Over 385 million winter leisure visits nationwide were recorded, marking a 38 percent increase from the previous year.

During the last snow season, Harbin alone welcomed over 87 million visitors, marking a 300 percent year-on-year increase and generating 124.8 billion yuan (about $17.4 billion) in tourism revenue – a staggering 500 percent growth.

Meanwhile, the ice and snow consumption is becoming an important growth point to expand domestic demand, transforming the “cold” resources into “hot” engine for economic development.

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According to online shopping and tourism platforms, orders for ice and snow equipment surged, while searches and bookings for ice and snow tours saw rapid growth during the “Double 11” shopping festival last year.

On China’s leading e-commerce platform, Tmall, sales of categories such as down jackets, thermal wear and skiing equipment surged by over 200 percent year on year during the “Double 11” shopping festival.

Broad prospects

To harness its abundant ice and snow resources for economic development, China is intensifying efforts to expand its winter economy, encompassing sports, culture, equipment, and tourism.

According to the guidelines issued by the General Office of the State Council, the country aims to promote its ice and snow economy as a new growth point, with the goal of reaching an economic scale of 1.2 trillion yuan (about $169 billion) by 2027, and 1.5 trillion yuan by 2030.

To achieve these goals, various cities and regions are integrating winter sports and tourism into their development plans.

The Heilongjiang Province is promoting the establishment of a China-Shanghai Cooperation Organization winter sports demonstration zone, expediting the development of ice-and-snow equipment and digital industry parks.

In Beijing, the city has launched an action plan, proposing 24 specific measures in areas such as expanding the ice and snow sports and consumption, and advancing the construction of ice and snow venue facilities.

The vigorous growth of the ice and snow economy has also drawn global attention. A slew of measures, including optimizing the visa-free policy and opening new international flight routes, have attracted a number of foreign tourists to start their “China Travel” and enjoy the winter season in the country.

China’s thriving ice and snow economy has also injected new momentum into the global tourism market, Chinese Foreign Ministry spokesperson Guo Jiakun said on Thursday, extending a warm invitation to friends from around the world to participate in ice and snow events, fostering friendship and cooperation.

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SM Investments Recognized for Landmark Capital Market Deal

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PASAY CITY, Philippines, Feb. 7, 2025 /PRNewswire/ — SM Investments Corporation (SM Investments), the parent company of the SM Group, has been awarded the “Philippine Capital Market Deal of the Year” by International Financing Review Asia (IFR Asia) for its successful issuance of a USD500 million five-year bond in 2024. This recognition underscores SM Investments’ leadership in the capital markets and the strong confidence of global investors in the company’s financial strength.

IFR Asia cited SM Investments’ return to the US dollar bond market after a decade-long absence as a significant development for the Philippine corporate sector. The transaction, which was the largest five-year deal by a Philippine corporate in 2024, reopened the market amid volatile conditions and achieved competitive pricing at 35 basis points.

“This landmark transaction represents a major milestone for both SM Investments and the Philippine capital markets. The strong demand from investors reflects confidence in Philippine corporate issuers and underscores SM’s reputation as a stable and well-managed investment option,” said Erwin G. Pato, Executive Vice President for Treasury, Finance, and Planning at SM Investments Corporation.

IFR Asia noted that SM Investments’ bond issuance attracted significant investor interest, given the relative scarcity of corporate issuances from the Philippines in recent years. The transaction also marked SM Investments’ first bond issuance since its USD350 million 10-year note in June 2014.

The deal was arranged by leading global financial institutions, with HSBC, JP Morgan, Standard Chartered, and UBS acting as joint lead managers and joint bookrunners. BDO Capital and Chinabank Capital also participated as joint lead managers.

International Financing Review Asia is a respected source of news and analysis on capital markets and investment banking, reinforcing the credibility of this recognition.

SM Investments’ achievement highlights its commitment to financial excellence and its role in strengthening investor confidence in the Philippine market.

About SM Investments Corporation

SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

SM’s retail operations are the country’s largest and most diversified, consisting of grocery stores, department stores and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the fourth largest private domestic bank.

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For more information, please visit www.sminvestments.com

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BRI UMKM EXPO(RT) 2025 Officially Concludes, Attracting Over 63,000 Visitors and Securing USD 90.6 Million in Export Contracts

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JAKARTA, Indonesia, Feb. 7, 2025 /PRNewswire/ — PT Bank Rakyat Indonesia (Persero) Tbk. (IDX: BBRI) successfully concluded BRI UMKM EXPO(RT) 2025, reinforcing its commitment to empowering MSMEs and expanding their global market reach. Held from January 30 to February 2, 2025, at ICE BSD City, the event attracted over 63,000 visitors, generated IDR 38.9 billion in transactions, and secured USD 90.6 million in export contracts through business matching. The closing ceremony was led by BRI President Director Sunarso.

A Platform for Global MSME Expansion

With the theme “Broadening MSME’s Global Outreach”, the event showcased 1,000 top Indonesian MSMEs ready for the international market. The closing ceremony was attended by BRI Vice President Director Catur Budi Harto. BRI President Director Sunarso highlighted the expo’s success in raising awareness of local MSME products, exceeding its initial target of 50,000 visitors.

By February 1, 2025, transactions hit IDR 38.9 billion, exceeding expectations. Sunarso reaffirmed BRI’s commitment to MSMEs, with business matching continuing through 2025 in partnership with the Ministry of Trade, holding twice-monthly sessions to boost exports.

This year’s BRI UMKM EXPO(RT) 2025 saw the participation of 506 registered buyers from 34 countries, significantly exceeding the initial target of 94 buyers from 33 countries.

So far, 166 MSMEs have engaged in 270 business meetings, one of the standout success stories is PT Siger Jaya Abadi, which secured a USD 13.05 million export deal with Bluestar Food Corporation, USA.

BRI UMKM Awards: Honoring Top MSMEs

BRI recognized outstanding businesses in three categories:

1. Top Deals on Business Matching

For MSMEs achieving the highest potential transactions in business matching sessions:

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  • Bintang Kita Kemuliaan (Food & Beverage)
  • Albasi Karang Layung (Home Décor & Craft)
  • Gula Aren Temon (Food & Beverage)

2. Newcomers on Business Matching

For first-time exporters who successfully secured international buyers:

  • Rumah Atsiri Indonesia (Healthcare & Wellness)
  • Minyak Sacha Inchi (Food & Beverage)
  • Organic Center (Food & Beverage)

3. Best Expo

For MSMEs demonstrating outstanding export readiness and digital adoption:

  • Sila Agri Inovasi (Food & Beverage)
  • Pelita Lumpang Mas (Food & Beverage)
  • Restu Mande (Food & Beverage)

These awards highlight BRI’s commitment to empowering MSMEs globally while advancing financial literacy and inclusion.

For more details on BRI UMKM EXPO(RT) 2025, visit briumkmexport.com.

For more information about BANK BRI, visit www.bri.co.id.

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