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Articles

Papalekas took EUR 144 million from London for local market investments

Businessman Ioannis Papalekas, one of the most active investor in the local real estate market in the last years, attracted EUR 144 million on London Stock, funds to be used for investments, including for buying the office building UniCredit HQ in Bucharest.

Genpact expand lease in office project IRIDE in Pipera

The outsourcing company Genpact increased its leased area with 3,200 sq. m in Iride Business Park in Pipera, a property in Austria’s Immofinanz Group portfolio, where the company could set offices for at least 300 employees, according to ZF estimations.

QFort invests EUR 25 mln in a residential project in Craiova

Stefan Cherciu will invest EUR 25 million in a residential complex with 235 apartments about to be built in central Craiova. Stefan Cherciu owns Casa Nostra, manufacturer of Q-Fort thermal insulation systems.

Government approves support scheme for job creators

The Government’s plan to partially cover salaries in firms that generate a minimum of 20 jobs was approved on Wednesday. The government financial support will be provided for two years.

Government approves tax exemption for reinvested profit and vows to eliminate 70 taxes

The Government approved an emergency ordinance on Wednesday regarding the tax exempt for reinvested profit and eliminating over 70 taxes in the near future, prime-minister Victor Ponta announced.

EU Commissioner Johannes Hahn opens GREET Vienna 2014

GREET Vienna is the venue for international real estate with a special focus on projects and investments in Central, Eastern and South Eastern Europe, including Russia, Turkey and CIS. GREET Vienna, now in its second round, is fast approaching. The conference will be held at Palais Niederösterreich in downtown Vienna on 19 and 20 May 2014.

Former residence of Ceausescu, up for sale

The former private residence of late Romanian dictator Nicolae Ceausescu, the Primaverii Palace in Bucharest, will be up for sale, as the Romanian state only rarely uses it for three to four delegations a year, according to Mediafax. RA-APPS will take charge of transaction but it has yet to announce a starting price of a deadline for the sale.

Former GTC Romania’s head founded its own real estate development company and develop new office building in Bucharest

Former head of the real estate developer GTC Romania Shimon Galon founded a company together with several friends and former employees of GTC, which will deal with the development of its own real estate projects, but also for other investors.

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