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Konieczny (FP): Romania’s attractiveness for foreign investor will have to be fed by fiscal relaxation measures

Romania’s attractiveness for foreign investors should be fed by measures of fiscal relaxation such as VAT reduction to 20% as of 2016, followed y a drop to 19% next year, reductions of the income tax on dividends from 16% to 5% and the elimination of the tax on special constructions as of 2017, says Greg Konieczny, the manager of Property Fund, in a press release.

Ovidiu Șandor exits City Business Centre project in Timișoara, NEPI took over the entire office complex

Businessman Ovidiu Șandor in Timișoara exited the shareholding of the company ModaTim Business Facility, the developer of the office complex City Business Centre Timișoara, so the South-African investment fund NEPI became the sole shareholder of the project, according to the takeover agreement at the completion of the construction.

GLL increased with EUR 8.7 million the capital of the company controlling Victoria Center office building in Bucharest

GLL has increased with EUR 8.7 million the capital of Victoria Office Center , the company controlling Victoria Center office building in Bucharest, taken over last year by the German investments fund from Bluehouse, for nearly EUR 20 million.

One United Properties to deliver 8,000 sqm prime residential project in 2017

One United Properties announced the start of construction works for a high-end residential project in Primaverii, near Herastrau Park, to be delivered during the second half of 2017. The scheme includes 33 units distributed in two buildings covering a total area of 8,000 sqm, of which 4,000 sqm will be habitable area.

Romania sees 45 pct yearly drop in property transactions in 2015

Property transactions (including office, retail and industrial) reached a record level in Central and Eastern Europe, shows a CBRE report, which places Romania fifth in the region with deals totaling EUR 644 million, 45 percent below the 2014 level.

The Economist: Romania to record the highest growth rate in Europe

Romania’s GDP will grow by 3.9% this year, recording the highest growth rate among European countries, according to the British business magazine The Economist.

BelRom’s mall in Bacău, taken over by KBC Bank due to debts

Insolvent Hello Shopping Park in Bacău, developed by BelRom, was taken over by KBC Bank in Belgium, due to debts following a loan the bank credited the developer for the construction of the mall.

British investment fund buys nine plots in Romania where Lidl stores operate

British investment fund First Property Group has bought, together with other investors, the plots where nine Lidl stores operate for EUR 10.5 million.

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