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Number of insolvencies in Romania could exceed 30,000 this year

There were around 28,000 new insolvency procedures in Romania last year, and this year this figure could reach or even exceed 30,000, said Valentina Burdescu, director of the Bulletin of Insolvency Procedures (BPI), during the second National Insolvency Conference.

UniCredit Austria sold its participation in CA Immo for EUR 295 million

UniCredit Bank Austria sold its 16.35 pct. participation in real estate company CA Immo for EUR 295 million. The buyer is one of the largest office owners in Moscow, which will make an offer for partially take-up of the other owners, willing to reach 26 pct of the shares.

Hercesa to invest another EUR 30 mln in Bucharest projects

Hercesa plans to set off in 2015 the construction of the third stage of residential compound Vivenda in Bucharest and is in talks to start a partnership for the renovation of an old building in downtown Bucharest, both projects being expected to attract EUR 30 million from the Spanish company.

Romania, safer than Hungary and Bulgaria according to Standard&Poor’s study

Market implied risk has fallen considerably in the last three years and as a result Romania is a much safer economy than other European countries such as Hungary, Bulgaria and Portugal, Standard& Poor’s “Global Sovereign Debt, A market Driven Perspective” report shows.

Răzvan Iorgu, CBRE: Price differences between real estate in Romania and Poland are not justified

Răzvan Iorgu, general manager of the real estate consultant CBRE Romania, says the local real estate market starts to become attractive for the large investors considering the process in Spain, Italy or Poland have increased a lot, and the conflict with Ukraine makes from Russia an unapproachable market.

Esop: 70 pct of the office villas in Bucharest are refurbished historical buildings

Esop Consulting’s office rent transactions in villas reached a total volume of 5,246 sq. m, wit 3,707 sq. m being spaces in historical buildings.

Romania’s retail turnover up 7.6% in eight months

Romania’s retail turnover, except trade of motor vehicles and motorcycles, , increased by 7.6% in the first eight months of 2014 in gross series, compared to the same period in 2013, according to recent data from the country’s Statistics Institute INS.

Novo Park opened Starbucks café

Novo Park has opened on Tuesday the first Starbucks café in an office park in Romania.

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