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NEPI registered EUR 11.2 million profit, well above its gain from similar period of 2012

The south-African real estate investment fund New Europe Property Investments (NEPI) registered in the first quarter a profit for its shareholders of EUR11.2 million, well above same quarter of last year, EUR 926,000.

Panduri Medical Centre leased an office building near Arcul de Triumf

Panduri Medical Center signed for an entire office building of 500 sq. m situated near Arcul de Triumf, on Clucerului St. in Bucharest, a transaction assisted Esop Consulting.

New top management for Skanska Romania

Skanska activity in Romania will be headed by Marcin Lapinski, who took over the position of Skanska Property president, a position former held by Andreas Lindelof and Richard Burleigh, currently named as Skanska Construcţii Romania president.

Michelin and Euromaster new tenants for Global City Business Park din Pipera

Three year after its completion, the office project Global City Business Park is heading towards 60% occupancy rate.

Almost EUR 120 mil. real estate transactions for 1Q 2013

In the first quarter of 2013 the activity was pointed by several significant transactions: the acquisition by NEPI of Lakeview building (25,564 sq. m rentable area, with sound tenants such as Pwc, RBS, Colgate, etc.), the acquisition of 50% share of eight retail parks by Mitiska Ventures (totalizing 32,000 sq. m rentable area in secondary cities), the buying of Nova Building by its main tenant, Italo-Romena Bank, and different acquisitions made by the group controlled by the businessman Ioannis Papalekas, including distressed assets, with Cathedral Plaza the most significant (a vacant office building with 12,500 sq. m, currently in litigation).

Construction works volume 4% down in 1Q compared to 2012

Construction works volume, unadjusted series, decreased with 4.1% in 1Q 2013 compared to the same period of last year and the new construction volume decreased with 15.2% according to National Institute of Statistics.

New law blocks GTC to develop the mall on its plot in Pipera

GTC declares that the mall Galleria Bucharest can no longer be developed, following a decision taken in March by the authorities which forbids the use of the land classified as green area and the company lost EUR 15.2 million, two thirds of the property value.

Real estate transactions growing. Cyprus situation could stimulate real estate investments.

The real estate investment in the 1Q in Romania totalized EUR 116 mil., representing 18% growth compared to the same period of last year. The office sector represented 67.7% of the total volume, followed by retail with 21.4%, the most recent report of DTZ Echinox has shown.

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