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Articles

Bucharest subway runs at full capacity during rush hours

Bucharest subway operator Metrorex has decided to increase the number of trains during rush hours (7:00 to 9:00 and 17:00 to 19:00), after several incidents caused chaos in the underground in the past two weeks.

Foreign Investors Council president: Romania can reach top 10 economies in the EU

Romania’s economy could climb from the 17th place in the European Union, where it is now, to the top 10 within the next 20 years if it takes the necessary measures for an annual growth of 4.5-5%, Eric Stab, President of the Foreign Investors Council (FIC), said yesterday.

Ikea invests EUR 80 million in second Bucharest store, to open in 2018

Ikea will invest EUR 80 million to set up its second Bucharest store, to open at the end of 2018. The store is projected to be the largest in the region.

Romanian senators vote tax exemption for real estate developers

Romanian senators approved on November 1 a draft project providing that real estate developers, both companies and individuals, are exempted from paying taxes for projects that are destined for commercial use, reports local Profit.ro.

DIY retailer Praktiker reopens four stores in Romania after EUR 1.6 mln upgrade

DIY retailer Praktiker, owned by Turkish investor Omer Susli, reopened four of its stores after investing EUR 1.6 million in upgrading them.

Romania recorded 703,500 real estate transactions in January-September 2016

Over 703,500 real estate transactions were recorded at national level January-September 2016, 56,000 more than in the same period of 2015, with most of them being conducted in Bucharest, Ilfov and Timis, reveal data released on Monday by the National Agency for Cadastre and Real Estate Advertising (ANCPI).

West Gate owner signs with Renault for another 3 years and abandon competition for the new Renault HQ in Bucharest

Liviu Tudor, the biggest Romanian office space owner, signed for Renault’s 3 years lease extension in West Gate in western Bucharest and has withdrawn from the tender for the new local headquarters of the Renault Group, leaving businessman Simon Roth without competition for the office project.

Developer of Cosmopolis residential complex in Romania invests EUR 2.2 mln in strip mall

Turkish group Opus Land Development, the developer of the residential complex Cosmopolis, will open a strip mall within the project at the end of November. The investment amounts to EUR 2.2 million.

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