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Office Market News

The 7 real estate `tycoons` cashed EUR 315 million from rents

Romanian businessmen Iulian Dascălu (Iulius Group), Liviu Tudor (Genesis Development), Gabriel Popoviciu and Radu Dimofte (shareholders of Băneasa project), together with the foreign groups NEPI, Immofinanz, AFI Europe and CA Immo, are the true real estate „tycoons” of Romania, considering this investors had last year total revenues of nearly EUR 315 millions from the rents of the malls and office buildings in their portfolios.

Centrofarm to develop 10 floors office building in Bucharest’s Universitate area

The company Centrofarm, the owner of the pharmacy network with the same name, started the development of a building with 10 floors in Bucharest downtown, in the proximity of Universitatii Square on a plot of land of approx. 2,100 sq. m.

Papalekas completed the acquisition of Tower Center International office building in Bucharest

The real estate portfolio of the businessman Ioannis Papalekas has increased with a new asset: the second tallest building in Bucharest.

First building in Hermes Business Campus, to be completed in March. Xerox, Litera and Fribourg Capital, among tenants

The first of the three buildings included in Hermes Business Campus, the office park developed by Atenor Group in Bucharest, will be delivered by the end of March, has announced Colliers International, the property manager of the complex.

Penny Market opens store in Pipera, close to office buildings

The discount store chain Penny Market, part of the German group Rewe opened a store on Pipera street, in the district where some thousands corporate employees are working. According to ZF information, this is the first store opened by the Germans this year, being the 157th unit of the network.

Eminescu 220 looking for new investor

Eminescu 220, an unfinished luxury residential project in Bucharest, is looking for a new investor.

The second Romanian metropolis to have its own subway

Timisoara is getting ready to become the second Romanian city to have a subway system. Nicolae Robu, Timisoara’s mayor, said on Tuesday that his city’s first subway line will have a length of 8 kilometers, which will connect downtown to the airport, writes businessmgazin.ro.

Good signs for the office market in 2014

2014 starts optimistically in real estate, the dynamism is growing on the office market, says Ilinca Paun, the head of Colliers, a real estate consultancy company with 4.5 million dollars turnover registered last year.

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