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Office Market News

Mrad Family to Invest EUR 20-25 Million in Residential Project near Orhideea Commercial Centre in Bucharest

Morad Group, controlled by the Mrad family, started this year the construction of a residential project including 456 apartments in the proximity of Orhideea Commercial Centre, a total investment of EUR 20-25 million, have declared Wall-Street.ro the company’s officials.

Argo Investment Funds Brings Decathlon in Sibiu and Suceava Commercial Parks

Investment fund Argo Real Estate, the owner on the local market of 270,000 sq. m rentable area in four commercial parks has reached an agreement with French company Decathlon for the rental of two premises in the parks from Sibiu and Suceava.

DTZ: Romania Only Attracts 0.5 Percent of the Real Estate Investment Capital in Europe

The available capital for commercial real estate investment in 2014 in Europe reached 120 billion dollars, with 6% higher than estimated six months ago, out of which Romania only gets less than 0.5%, according DTZ Echinox research.

Israeli Group Plans over EUR 10 Million Residential Projects in Bucharest

The company Meric Capital, an investment vehicle of Plotkin Projects from Israel, launched a residential project with green façade in Piata Romana area rom Bucharest, EUR 2.5 million investment and is planning to develop next year another two residential projects in Obor and Piata Muncii zoneso, also being the owner of an additional plot of land in Alba Iulia Square area.

Jones Lang LaSalle: A Quarter of the Commercial Centres Need Modernization

One of the reasons why the commercial centres in Romania currently face difficulties is that they did not adapt themselves to the retail market changes and didn’t take measures for their projects’ modernization, has declared Carmen Ravon, head of retail department within Jones Lang LaSalle (JLL).

EUR 17.5 Million Residential Project in Parcul Circului Zone

Several Belgian and Greek investors started this year the construction of a building with 100 residential units near Parcul Circului in Bucharest, the project’s value at its completion being estimated to EUR 17.5 million.

Office Transactions Top: The Most Active Cities in 9 Months

Outside Bucharest, in the first three quarters of 2013, transactions were registered for 14,153 sq. m, with Iasi on the first position (4,420 sq. m), followed by Sibiu (3,900 sq. m) and Cluj-Napoca (3,500 sq. m) according to Esop Consulting.

Warsaw office supply hits 4.7 million sqm

According to the Warsaw Research Forum, new office supply in Warsaw hit 4.7 million sqm in the third quarter of the year, with 246,000 sqm of space delivered to the market since the beginning of the year in 15 completed projects.

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