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Districts 2 and 3 host 40 pct of Bucharest’s retail stock, says Colliers International

Bucharest’s modern retail stock has increased to approximately 1.16 million sqm (gross leasable area – GLA) following the opening of the Veranda shopping mall last month, according to data from real estate consultancy Colliers International. Some 40 percent of this space – roughly 450,000 sqm – is located in Bucharest’s District 2 and District 3, thus increasing competition in this part of the capital.

GIC acquires P3 from TPG Real Estate and Ivanhoé Cambridge for €2.4 billion

P3 Logistic Parks, a leading specialist pan-European owner, developer and manager of logistics properties, announced today that GIC, Singapore’s sovereign wealth fund, has signed a definitive agreement to acquire P3 from TPG Real Estate and its partner Ivanhoé Cambridge. The transaction values the business at €2.4 billion and is the largest European real estate transaction this year. The transaction is subject to regulatory approval and is expected to close by the end of 2016.

Simon Roth to sell Dacia auto parts warehouse in Oarja to build EUR 50 million offices for Renault

Renault is the sole tenant of an warehouse of 65,000 sq.m owned by Simon Roth near Piteşti, and the sale of the warehouse will bring the investor the necessary capital to start the office project in Western Bucharest, built especially for Renault.

EBRD upgrades growth forecast for Romanian economy to to 4.8 pct of GDP in 2016

Romania will register an increase of 4.8 percent in the Romanian economy in 2016, the highest level of Europe, according to the newest forecast published on Thursday by the European Bank for Reconstruction and Development (EBRD).

MedLife-controlled dental network opens new clinic in Bucharest

Dental clinic network Dent Estet, controlled by local private healthcare group MedLife, plans to open a new clinic in Bucharest, the first one after MedLife took the majority stake in the company.

Bucharest subway runs at full capacity during rush hours

Bucharest subway operator Metrorex has decided to increase the number of trains during rush hours (7:00 to 9:00 and 17:00 to 19:00), after several incidents caused chaos in the underground in the past two weeks.

Foreign Investors Council president: Romania can reach top 10 economies in the EU

Romania’s economy could climb from the 17th place in the European Union, where it is now, to the top 10 within the next 20 years if it takes the necessary measures for an annual growth of 4.5-5%, Eric Stab, President of the Foreign Investors Council (FIC), said yesterday.

Ikea invests EUR 80 million in second Bucharest store, to open in 2018

Ikea will invest EUR 80 million to set up its second Bucharest store, to open at the end of 2018. The store is projected to be the largest in the region.

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