Counters Impressive Take-Over Bid With Geographical Expansion

Aug 20, 2010, 04:59 ET from

LUXEMBOURG, August 20, 2010 /PRNewswire/ -- PROPERTY4EAST, the international real estate network offering luxurious properties to investors in Russia, Eastern Europe and the Middle East, recently received a "very interesting take-over bid" from an investment company. PROPERTY4EAST further plans to expand its offer in Europe and develop an exclusive hotel range for its customers.

Success leads to impressive take-over bid

Recently, the successful progression of led to a very high offer from an Eastern European investment company in the media sector. Notwithstanding the impressive sum on the table, the shareholders have decided not to sell.

Thierry Kohnen of Kohnen & Associes Luxembourg, who represents the shareholders, explains: "The offer, which consisted of a majority shareholding, was very interesting to say the least. However, the shareholders have decided not to accept it, as it could jeopardize the growth of the company. Moreover, we are passionate about what we do, which is why we are not ready to sell and certainly not if this means we would lose the controlling interest."

Focus on Europe will now increasingly focus on Europe, said Naomi El Haimer, PR responsible for the Middle East. "In key countries such as Germany, Austria, Switzerland, France, Italy and the Benelux, we will contact promising real estate agents personally and start handpicking them to form a highgrade network that matches the standards of our clientele. However, please note that all other markets will continue to enjoy our undiminished attention."

New privileges for potential customers: exclusive hotel collection has also launched a new, exclusive service. In the near future, it will offer its potential customers the opportunity to stay in a top-star hotel during their visit to buy or rent a property. The hotels are selected according to the highest standards. Customers can book suites per week. Prices vary between EUR8,400 and EUR35,000. The first deal has already been made with Hotel Amigo in Brussels, which is part of the Rocco Forte Collection.

El Haimer: "We don't want to start selling hotel rooms, but our customers will enjoy a number of privileges in the selection of hotels. We have decided to include this option following the growing demand of our customers for luxury accommodation when visiting a potential property." is a neutral online platform advertising unique high-level real estate for rent or sale. Its main target audience is wealthy investors, bankers, investment advisors, asset managers, embassies and brokers from Russia, Eastern Europe and the Middle East. In order to reach this specific audience, PROPERTY4EAST uses all qualitative online communication channels: the website, regular direct e-mailings to a selected database. PROPERTY4EAST is located in Luxembourg.