Table of Contents
Executive Summary
5 Key Features of This Report 6 What Is This Report About? 6 SWOT Analysis7 Croatia Real Estate/Construction SWOT 7 Croatia Economic SWOT 8 Croatia Business Environment SWOT 8 Key Projects9 Construction Overview 9 New and Ongoing Projects - Commercial Construction 9 Tourism Construction 10 Table: Croatia Major Infrastructure Projects - Airports 10 Table: Croatia Major Infrastructure Projects - Roads 11 Table: Croatia Major Infrastructure Projects - Railways 11 Table: Croatia Major Infrastructure Projects - Pipelines 12 Table: Croatia Major Infrastructure Projects - Power plants 12 Table: Croatia Major Infrastructure Projects - Commercial & Residential Construction 12 Real Estate Investment Trusts - Q20913 Introduction 13 Table: Global REITs At A Glance - Mid-2008 14 A Note on Unlisted Real Estate Funds 15 Table: European Unlisted Funds At A Glance - 2008 16 2008: A Disastrous Year for REITs 16 Table: Investment Total Returns (%, in EUR terms) 17 Table: Gross Total Returns (%, in EUR terms) - 2008 17 Table: Gross Total Returns (%, in EUR terms) - 2008 18 Table: Gross Total Returns (%, in EUR terms) - 2008 19 Table: Substantial Property Sales - 2008 20 Table: Capitalisation Rates and Spreads vs Risk-Free Rates 21 Pointers for 2009-2010 22 Industry Finance Outlook24 International Financing 24 Table: Interbank Rates and Bond Yields 26 Table: Comparison of Total Assets, Client Loans and Client Deposits (US$bn) 27 Domestic Financing 27 Table: Croatia - Monetary Policy 28 Industry Forecast Scenario 29 Table: Housing Prices At A Glance - Central and Eastern Europe 29 Table: Office Rents - Central & Eastern Europe - CBRE 30 Table: Industry Forecast Data 31 Economic Outlook 32 Table: Croatia - Economic Activity, 2005-2013 33 Real Estate/Construction Business Environment Rating 34 Table: Europe Real Estate/Construction Business Environment Rating 34 Croatia' s RECBER 35 Project Finance Ratings: Outlook for Europe 36 Table: Design And Construction Rating 38 Table: Commissioning And Operating Rating 39 Table: Overall Project Finance Rating 41 Croatia Business Environment 42 Company Monitor45 Konstruktor inzenjering 45 Orco Property Group 47 GTC Real Estate 48 Landmark Property Management 49 TriGranit Development Corporation 50 Colliers International 51 BMI Forecast Modelling52 How We Generate Our Industry Forecasts 52 Construction Industry 52 Bank Lending 53 Real Estate/Construction Business Environment Rating 53 Table: Weighting Of Indicators 54 Project Finance Ratings Indicators 56 Table: Design And Construction Phase 56 Table: Commissioning And Operating Phase - Commercial Construction 58 Table: Commissioning And Operating Phase - Energy And Utilities 59 Table: Commissioning And Operating Phase - Transport 60 Sources 61
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