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Office Market News

Number of insolvent firms in Q1 of 2014 down 10 percent on year

The number of firms that have entered insolvency in the first three months of 2014 is down 9.75 percent compared to last year: from 7,535 companies in Q1 2013 to 6,800 companies in Q1 2014, according to data released by ONRC.

Erste :The Romanian economy could surpass this year the level of 2008 for the first time

The GDP of Romania could surpass for the first time this year the level of 2008, supported by a coming back of the domestic demand, while the main risks could deteriorate the trust of the consumers and an agricultural production under the expectations, estimate the Erste analysts.

CBRE: Romania’s commercial real estate investment volume up 256 pct in Q1 2014

Romania’s total commercial real estate investment volume reached EUR 302.7 million in Q4 of 2014, up 256 percent y-o-y, albeit from a low base, according to a CBRE report.

Umbrarescu buys Romtelecom building for EUR 4.5 million

Dorinel Umbrarescu finished a transaction last week for a building bought from Romtelecom for EUR 4.5 million. The building is located at the intersection between Stefan Cel Mare and Calea Floreasca and it was one of the most important assets in the Romtelecom portfolio with 8,000 sqm.

Portland Trust, in negotiations with Italy’s Nusco for a plot in Floreasca area

Portland Trust will no longer expand the office complex Floreasca Park, investment which should have been carried out on a plot owned by the businessman George Becali, though the company intends to buy a plot in Barbu Văcărescu – Floreasca area from the Italian group Nusco, for another office project.

Metav Bucureşti will give 5.8 million lei dividends this year

The shareholders of the real estate company Metav Bucureşti (METV), the company which manages the industrial park Metav Business Park near Baneasa airport, owned by the businessman Gabriel Popoviciu, have approved in the general assembly the proposal of the administration council regarding the distribution of dividends valuing 5.76 million lei from the 6.1 million lei profit registered last year.

A first: Romania meets all criteria to join Eurozone

Romania admission to the European Union and the changes incurred by this process “irreversibly contributed to consolidating the reform processes, contributed to a society modernization, essentially contributed to the economic development” – this was the main idea expressed during the conference organised in Bucharest “Ten years later…,” held by the European Commission Representation.

Popoviciu and Dimofte, net profit exceeding EUR 10 mil from Băneasa

The company Băneasa Developments, used by the businessmen Gabriel Popoviciu and Radu Di­mofte to control the commercial zone of Băneasa project in Northern Bucharest, has registered last year a net profit of EUR 10.3 million and a turnover of EUR 41.6 million, with almost 25% net gain margin.

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