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Office Market News

Transilvania Insolvency House sold in March assets of EUR 10 million

Transilvania Insolvency House (CITR) ended March with sales of the real estate assets totaling approx. EUR 10 million.

Korona Mall Braşov, postponed again

Construction works for Korona Mall in Braşov will not start this year, as scheduled.

Cosmopolis owners bought a land on Barbu Văcărescu St. for a residential building development

Turkey’ Buyukhanli family, the developer of residential complex Cosmopolis in Ştefă­neşti village, northern Bucharest has recently bought a land of more than 2,000 sq. m on Barbu Văcărescu St. in Bucharest, with the intention to start this year the construction works for a building with approx. 100 apartments.

FT: Bucharest heads for recovery quicker than its neighbours

Financial Times covers the rise of popularity Bucharest and Romania are currently enjoying in the eyes of investors and real estate developers, as opposed to other destinations that are losing their economic appeal.

Erste improves economic forecast for Romania from 2.3 pct to 3 pct GDP growth

Erste Group Research improved its estimates regarding Romania’s economical growth, from 2.3 to 3 percent in 2014, as a result of higher-than-expected results in retail. On the other hand, the Worldbank also improved prospects for Romania’s economy, but only up to 2.5 percet.

Leroy Merlin, interested in buying 3 Baumax units and an OBI store

French retailer Leroy Merlin would be interested in buying several Baumax and OBI units in Romania. The two home improvement retailers recently announced they are going to leave the local market, on account of losses suffered in the region, according to wall-street.ro sources.

Over 3,600 companies suspend operation in first two months of 2014

The total number of companies which suspended their operation decreased in the first two months of this year by 25.8 percent compared to the same period of 2013, from 4,860 companies to 3,606 ones, according to the data centralized by the National Office of Trade Registry, Agerpres informs.

NEPI needs urgently EUR 60 million, offering new stock

NEPI, the most active real estate investor in Romania is launching today an urgent stock offer in order to increase its capital with EUR 60 million, intended to use for eventual acquisition opportunities.

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Adina Camara

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