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Office Market News

Signs of renewed interest in Romania

The question remains as to when Romania will regain its status as a popular destination for investors and developers with a yield premium on Central Europe and office and retail development opportunities in Bucharest and major regional cities.

Ared to start this year residential project in Timisoara

Real estate developer Ared, controlled by the businessman Alexandru Bercea, plans to start in 2014 the construction of a new residential project in Timisoara, including 150 apartments, has declared for WALL-STREET.ro Florin Mos, director de marketing si vanzari al Ared.

Argo’s Romanian centers drop in value

The shopping centers owned by the UK-based Argo Real Estate Opportunities Fund were assessed at €330m at the end of 2013, down by about €7m from the previous year.

60 pct of office space to be delivered this year still doesn’t have tenants

Real estate developers face the grim reality that 60 percent of the office buildings that they will deliver this year don’t have any tenants. Depending on the project, the level of free space ranges from 0 percent to 100 percent according to data centralized by Mediafax.

Soros took over 5% of IGD shares, Winmarkt’s owner

An investment fund managed by Soros Fund Management, owned by the billionaire George Soros, bought a package of approx 5% of the shares of the Italian group Immobiliare Grande Distribuzione (IGD), the owner in Romania of Winmarkt network, Reuters informs.

New business district in Bucharest

Bucharest City Hall intends to develop a “justice district”, a concert hall and administrative spaces.

AFI Cotroceni sales exceeded EUR 200 million in 2013

Official numbers show 5-6% growth f the retail market last year and the results are also present in Afi’s case. The results of the mall will reflect the situation in the retail market, said Israel Vizel, manager mall division AFI Europe.

Forbes: Best Romanian cities to do business in

Bucharest, the city that generates 20 percent of the country’s GDP, is the best city in Romania for business, according to a ranking by Forbes Romania.

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