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Office Market News

Office market 1st quarter: the demand is up by 13% in Bucharest and 50% in the rest of the country

The office area transacted in the first quarter of this year has increased both in Bucharest and in smaller cities in the country, such as Timisoara and Cluj-Napoca, mainly due to the development of the IT&C companies, which continue to recruit thousands of employees and to occupy new floors in business centres.

EUR 40 mln real estate project to be built on the grounds of former Grivita brewery in Bucharest

Kiseleff Development wants to build a EUR 40 million real estate project on the grounds of the former Grivita brewery in downtown Bucharest and over the ‘next period’ it will begin works to clear the site, announced today representatives of Element Development, the project’s developer.

Romania, second in insolvencies rates in CEE at active companies

Considering the number of new insolvencies opened during 2013 in CEE countries, Romania has the second highest rate of insolvencies compared to the number of active companies, 6.44 percent, according to a recently Coface CEE Insolvency Report 2013.

Foreign investments rise 35.6 percent to EUR 282 mln in first two months

Romanian foreign direct investment, or FDI, rose 35.6 percent on the year to EUR282 million in the first two months of the year, the central bank said Friday.

Office preleases up to 30% of the market in first quarter

The office prelease transaction volume in Bucharest has spectacularly increased in the first quarter compared to the similar period of 2013, representing over 30% of the rented area in the analyzed period, an evolution which shows a recovery of the interest in the local market, Mediafax writes.

Romania inflation down to new record low of 1.04 pct in March

Romania’s inflation dropped to a new record low in March, figures from the National Institute of Statistics showed Thursday. Inflation, based on the consumer price index, fell to 1.04 percent from 1.05 percent in February. On a monthly basis, prices rose 0.03 percent.

Office Depot expands its offices in Cluj

Office Depot, services and solutions supplier for working spaces has extended its lease in the office building Iulius Business Center in Cluj, expanding its area with 700 sq. m, to 4,500 sq. m.

Coface improves estimates regarding Romania’s economic growth in 2014

Coface improved the estimates regarding Romania’s economic growth for this year, up from 2.1 percent to 2.3 percent, according to data presented at the Country Risk Conference.

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