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Office Market News

Italian investor to develop EUR 25 million residential in Timisoara

Real estate developer Borgo Italiano started the construction of a luxury residential complex in Timisoara, with 87 villas, duplex and row houses, an investment of EUR 25 million, sustained by its own funds.

Lujerul bread factory in Bucharest could close and sell assets

Lujerul bread factory could close on 1st of August, after loss registered in the first five motnhs of the year and its 3.6 ha land could sell if the proposal of the Board of directors is approved by the company’s shareholders.

First Cora mall in Romania to be opened on 25th of July

French Cora inaugurates on the 25th of July the commercial centre in Constanta, anchored by the 11th hypermarket of the company on the local market. The investment reached EUR 58 million.

NEPI and Volksbank AG, sued by the British owners of Sibiu Shopping City

The most active real estate investors on the Romanian market and Volksbank AG are sued by a competitor for illegal use and publishing of confidential information and for unfair competition.

Rockefeller could start by the end of the year the big project in Turda

Spain’s Graells & Llonch are close to sign the first contract for the industrial park in Turda, which means starting the works for the first warehouse by the end of this year.

Former Connex and Generali headquarters become IBM buildings

IBM now occupies the entire office space in the former „ Connex building“.

Razvan Gheorghe returns to entrepreneurship

Razvan Gheorghe took over entirely the social shares of the company Cushman&Wakefield in the real estate company in Romania starting with 1st of July, and all contracts and projects have been transferred to Activ Property Services, after the Americans decided to close the local direct office.

CSDA Siriului office building, 100% leased

CSDA Siriului Business Incubator, developed by Primavera Development in Aviatiei district in Bucharest reached 100% occupancy rate before its completion, through a transaction managed by The Advisers / Knight Frank.

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Adina Camara

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