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Articles

The revenues of the commercial centres in Romania could grow with 3.5 pct. in 2014

The revenues of the commercial centres in Romania could register an average growth of 3.5 pct. in 2014 on the background of the increasing consuming appetite of the Romanians, said on Wednesday Robert Maxim, managing partner Ensight Management Consulting, in a specialized conference.

Lidl is building a supermarket on the former beer factory plot in Bragadiru

German retailer Lidl, which operates in Romania a network exceeding 170 supermarkets, intends to build a new store on the former beer factory plot in Bragadiru, a construction being partly demolished since last year.

AFI started the construction of buildings 4 and 5 within AFI Park office project, EUR 50 million investment

Real estate developer AFI Europe, controlled by the Israeli billionaire Lev Leviev, started few weeks ago the works at the buildings four and five of the office project AFI Park, built in the vicinity of the commercial centre AFI Palace Cotroceni in Bucharest, buildings involving an investment f approx. EUR 50 million, according to ZF estimations.

Tagor to start buying toxic real estate assets from banks in Romania

Real estate developer Tagor said on Tuesday it launched a new business segment designed to help banks get rid of distressed real estate assets in their portfolios and reduce their volume of non-performing loans.

Strabag: Romania is again on the multinationals investments map

Austrian group Strabag, which has built two highway segments between Deva and Sibiu, estimates that the local construction market, evaluated at approx. EUR 9.6 billion, will register this year an advance of 5.8 pct.

Former DTZ Echinox investment director switches to Immofinanz

Cristian Ustinescu, former investment director for real estate consultancy group DTZ Echinox, have left for a new position at Immofinanz, one of the biggest European developers in the field. Ustinescu will be in charge of the Austrian group’s transactions in Eastern and Central Europe.

Real estate investments aimed by Globalworth in Romania

Globalworth, a company controlled by the businessman Ioannis Papalekas, active for 15 years on the real estate market in Romania and SEE invested EUR 72.6 million in real estate projects on the local market and has cashed out form these investments EUR 341.4 million (investments in 2001-2009). Currently the company has 10 investment objectives on the local market, including developing an office complex in Pipera and the acquisition of the office building occupied by UniCredit Tiriac Bank.

EC improves its economic prognosis for Romania

The European Commission has improved its prognosis for Romania’s economic growth in the following two years. The EC anticipates that the economy will slow down after an excellent 2013 for agriculture, but it will maintain is upward momentum based on investments.

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