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Eurostat: Romania and Slovakia, highest growth of the construction works in July

Romania, after Slovakia has registered the highest growth - plus 15.1 percent - of the construction works among all the European Union's member states in July 2015, compared to the similar month of 2014, according to the data released on Thursday by the European Statistics Office (Eurostat).

Construction output up 11% in Romania

The construction volume on the Romanian market increased by 11 percent y-o-y in the first seven months of the year, according to data published by the National Statistics Institute.

Romanian entrepreneurs score profits, multinationals record losses

Multinationals recorded a profit balance (cumulated profits minus cumulated losses) of RON 2.5 billion (EUR 564 million) in Romania, between 2008 and 2014, whereas companies controlled by local entrepreneurs made RON 55 billion (EUR 12.4 billion) in the same period.

Globalworth to buy new assets of EUR 120 mln in Romania

Real estate developer Globalworth, controlled and managed by Greek investor Ioannis Papalekas, has signed in September agreement memorandums for buying a portfolio of 30 plots and completed buildings in Romania, as well as two office buildings, for a total of EUR 120 million.

Local assets bring 13 pct. of Immofinanz’s revenues

Austrian group Immofinanz, one of the largest players on the local real estate market, has obtained in the first quarter of the fiscal year 2014-2015, closed on 31st of July, revenues from rents in Romania of EUR 11.8 million, a similar value to the one registered in the same period of last year.

Țiriac appointed Bogdan Cernescu as head of real estate division

Businessman Ion Țiriac appointed Bogdan Cernescu as head of real estate division. Cernescu was the head of Erste Group Immorent România, with leasing and development activities in the real estate sector, part of the Austrian group Easte.

OpenVille Timisoara announces the beginning of construction works

After having completed the layouts and obtained the necessary construction permits, the company Iulius Group announces the beginning of works for the mixed-use project Openville Timisoara.

Romania, second largest increase in labor costs in the EU

Latvia, Romania, and Bulgaria registered the largest increases in labor costs among the EU member states in the second quarter of 2015 compared to the same period last year.

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