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New IASB leasing standard to impact real estate, heavy duty machinery and vehicle lessors, says EY

The new leasing standard sent out by the International Accounting Standards Board (IASB) last week will be implemented from 2019 and says that all assets subject to a leasing contract are to be registered in the lessee’s balance sheet, according to a press release from EY Romania.

Libra Bank considers real estate projects’ financing

Libra Bank, a small player in the Romanian banking system, part of the American investment fund un New Century Hol­dings, started the year in force on the real estate segment, announcing its intention to finance two residential real estate projects in Cluj and Braşov.

Investment fund invests EUR 10 mln in revamping mall in Romania’s Craiova

The shopping center Mercur Craiova, owned by local investment fund SIF Oltenia, will be reopened in April this year after an extensive revamping process. The total investment amounts to over EUR 10 million.

AFI Park 4&5 reach 50 pct occupancy rate two weeks before delivery

Two weeks before being delivered, AFI Park 4&5 reached a 50 percent occupancy rate, real estate developer AFI Europe Romania announced. This means that 16,000 sqm have been pre-leased of the total surface of the towers.

Cosmopolis developer to invest EUR 20 mln in 500 new houses and shopping centre

Opus Land Development, developer of the Cosmopolis residential compound in north-east Bucharest, will invest approximately EUR 20 million in building 500 new houses within the residential compound, according to a press release from Coldwell Banker Affiliates of Romania, manager of the project since 2013.

Re/Max brokers deals worth EUR 19 M in 2015, slower network expansion

Re/Max Romania, part of the global real-estate leader and the top real-estate franchise at global level, brokered approximately 300 real-estate deals worth a total of EUR 19 M in 2015. In this context, the total commissions collected by the company stood at approximately EUR 1 M.

Gral Medical to open new medical centre in northern Bucharest with EUR 200,000 investments

Private medical services operator Gral Medical, one of the five largest players on the local market, a business founded by the entrepreneur Robert Şerban, opens a new clinic in the northern area of Bucharest.

NEPI rents out 10,500 sqm of City Business Centre in 2015

City Business Center, an office complex in Timisoara, has reported a record leasing volume in 2015, NEPI, the project’s owner, has announced. Thus, last year there were a total of 10,500 sqm of space rented, once the project’s E building was open for tenants.

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