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New shopping center to be opened in Romania’s Timisoara in 2017

Alpha Group Investments, a unit of Greek lender Alpha Bank, and Ali Ergun Ergen have obtained the building permit for Timisoara Centrum, a new mixed real estate project in Timisoara, western Romania.

Avangate expands office space in Bucharest by 1,000 sqm

Starting this fall, the Avangate team in Bucharest increased its office space by another 1,000 sqm, adding to the existing 2,000 sqm in Pipera, C1 and C3 Conect buildings, the company announced. So, at present, 180 employees enjoy a total area of 3,000 sqm equipped according to the latest standards of comfort.

Profi further expands network by three units

Profi has recently opened three new stores, continuing its accelerated expansion and taking its network to a total of 366 units, according to company representatives.

Metro line Râul Doamnei - Eroilor in Bucharest to be ready in March 2017

5th Artery of Bucharest underground will be ready to use in March 2017 on the section Râul Doamnei - Eroilor (PS Operă), including Valea Ialomiţei, with nearly one and a half year delay, announced the director for Investments and Public Acquisitions of Metrorex, Constantin Mustăţea.

Insolvency declined 52 percent in the first 10 months of 2015

The number of companies undergoing insolvency procedures in Romania declined 52 percent in the first 10 months of 2015, but write-offs were up 9 percent, business suspensions 6 percent and dissolutions 41 percent, according to official data with the National Companies Registry Office (ONRC).

Vabeld bought two warehouses and 15 ha land from former Cefin Real Estate shareholders

Belgian real estate investor Vabeld has bought from the former shareholders of Cefin Real Estate, the real estate division of the Italian group Cefin, two logistics warehouses situated at the Bucharest exit to Pitesti. This is the company’s second acquisition since its entrance on the local market this summer.

Lands for construction back to real estate transactions top

The lands with construction potential are back in the real estate transactions top this year, the main clients being the small and medium developers.

Fiscal Council: Romania’s economic growth could peak next year

Next year’s economic growth, which is estimated at 4%, could be a peak, and could go down to 3.5% in 2017, said the Fiscal Council president Ionut Dumitru.

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