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Office Market News

Alpine is looking for a buyer for their Romanian assets

Austrian constructor Alpine, which filed for insolvency in September 2013 (three months after the mother-company in Austria filed for bankruptcy), is searching for a new recover strategy which implies selling their Romanian assets to an investor, according to capital.ro.

Sandoz relocates to Floreasca Business Park

Pharmaceutical company Sandoz, part of Swiss group Novartis will relocate its offices this spring to Floreasca Business Park.

Impact estimates business growth for next two years

Impact (IMP) estimates for next year a turnover of approx. EUR 26 million, aiming to reach EUR 50 million / year by 2016, while its operational profit is estimated to EUR 1.6 million in 2014 and EUR 22.5 million in 2018.

Over 22,000 firms suspend activity in 2013

The total number of the Romanian firms having suspended activity last year dropped by 8.30 per cent from 2012, i.e. from 24,078 firms to 22,079 firms, according to figures centralized by the National Trade Register Office.

Baruba Trade claims €7m in damages from Immofinanz

Baruba Trade & Invest Limited filed an application Thursday at the Arbitration Court of the Chamber of Commerce and Industry demanding €7m in compensation from Immofinanz.

Hay, AFI Europe: Financing stays difficult even for good projects

Financing stays difficult even for good projects and experienced developers, said David Hay, the head of AFI Europe Romania, which hopes though to get financing for the office buildings AFI Park 2 and 3 and refinance the loan for AFI Cotroceni by its due date, May 25th.

EUR 18 million investments in Cosmopolis residential project

Opus Land Development, the developer of Cosmopolis, one of the biggest residential projects in Romania, will complete this year at least 400 new units in the residential complex, the investments scheduled for 2014 reaching EUR 18 million.

Horatiu Florescu, The Advisers/Knight Frank: 2014 will be a year of pre-leases

The office pre-leases will register a revival in 2014, says Horatiu Florescu, the president of the company The Advisers/Knight Frank, in the context that in 2013 the volume of office pre-leases has decreased substantially compared to 2012, representing only 9% from the total transacted area.

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