Kobe Investment, the owner of the Rakvere Pohjakeskus (Rakvere North Shopping Center), has entered talks on selling the mall property, which is valued at approximately half a billion kroons (32 million euros). The name of the potential new owner will not be disclosed before the deal takes effect. Veljo Kuusk, chairman of the supervisory board of Kobe Investment, told BNS Kobe Investment had never seen itself as the long-term owner of Pohjakeskus. "Our duty was to arrange financing for the construction and make sure that things get going. We will definitely continue supporting the development of Pohjakeskus, such is the agreement with the new owner," Kuusk said.
The number of property transactions concluded in Lithuania in the first two months of 2009 plummeted by more than 60 percent year-on-year, the Center of Registers reported based on preliminary estimations. Meanwhile, the decline of property prices has been smaller than projected. A total of 489 buildings were sold in Lithuania in January-February, down 63 percent year-on-year. The number of apartments sold plummeted by 66.8 percent, to 1,344 in the reporting period.
