The major Thai developer, Central Group, has taken over the property that is home to Berlin's iconic KaDeWe department store following an agreement with the previous, insolvent owner Signa Prime Selection, Central said on Friday. The Thai group is also considered to be among the leading candidates bidding to fully take over the whole KaDeWe Group, including the retail business itself, according to trade experts. Central currently holds a 50.1% stake in the group, while 49.9% belong to the Signa
Chalet N. from the realm of real estate juggler René Benko is known to have been used for business and family purposes. Nevertheless, it received 1.2 .
Benko-Reich collapses: Real estate subsidiaries of the Signa Group insolvent. The real estate and trading empire of billionaire René Benko is in dire straits. After Signa Holding, the core companies of his real estate empire are now also insolvency. After strong growth in the low-interest phase, the network of companies created by Benko, like the entire real estate industry, is struggling with higher construction costs, energy prices and interest rates. Signa Retail Selection AG, headquartered in Switzerland, has announced that it will wind up the company in an orderly manner.
Two more subsidiaries of the Signa Group, owned by Austrian real estate investor René Benko, have filed for insolvency. Signa Financial Services and Signa REM Germany submitted corresponding applications to the Charlottenburg District Court. Benko's extensive network of companies also includes the German department store chain Galeria Karstadt Kaufhof. Insiders expect that other Signa companies will file for insolvent. The case of the Elbtower, which also belongs to the Benko empire, could still grow into a political scandal.