"The total volume of the investment transactions in 2013 registered approx. EUR 335 million, with the office sector attracting approx. EUR 100 million, the retail sector approx. EUR 170 million and the rest of EUR 65 million representing land transactions or transactions with structures of unfinished buildings", has declared Marius Grigorica, senior consultant within the investment department of DTZ Echinox.
From the total volume of the investments, more than two thirds and the most important transactions as value were made by NEPI (the Lakeview office building in Barbu Vacarescu, 70% shares in MegaMall project to be developed in Eastern Bucharest, the retail parks in Drobeta Turnu Severin and Deva and the commercial centre City Park Constanta, took over for EUR 81 million.
"The total value of the investments in 2013 increased with approx. 10% compared to the volume of 2012, and the market was more dynamic, registering an increasing interest from the investors willing to benefit from the opportunities offered by the current market. After five years when the market was practically frozen, the sellers started to show more flexible in negotiating prices, including the banks which accepted to mark significant losses. Compared to last year, when the investors’ approach was more hesitating, 2013 was more dynamic and a greater determination was registered in taking acquisition decisions. The buyers were generally local opportunistic investors or small or medium investment funds” , Grigorica explained.
The representative of DTZ mentioned that despite the economic instability persisting at global level, the big institutional investors in Western Europe started to make hesitating moves and show again their interest in Romania.
"In the context of a slight improvement of the investment climate and considering the transactions in negotiation, we hope 2014 to register a volume of transactions that will exceed the one in 2013", Grigorica also said. (source: wall-street.ro)
