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Articles

Owner of Conarg to receive second biggest land compensation from the restitution authorities

The owner of a big real estate development company will receive 44 million lei (approx. EUR 10 million) from the state, in the second largest compensation approved last week by the Romanian restitution authority.

Bîlteanu to create SIF Imobiliare with 18 companies from the portfolio of SIF Banat Crişana

The Board of SIF Banat-Crișana (SIF1) has approved on Friday the registration of the stock company SIF IMOBILIARE LIMITED, to be entirely owned by SIF Banat-Crișana. SIF1 will transfer to the social capital of the new company, the shares owned in the 18 companies in its portfolio operating in the real estate field, according to a report sent to the Stock Exchange.

Cement producers accumulated EUR 1 billion profit in six years

The biggest three players in cement industry, the Swiss Holcim Romania, the French Lafarge and the German Carpatcement have registered in the period 2007-2012 total turnover of nearly EUR 4.4 billion, while their total net profit reached almost EUR 1 billion, according to ZF calculations based on the data from the Ministry of Finance and Trade Registry.

Biggest Impact shareholder buys another 3% of the developer’s shares

The businessman Gheorghe Iaciu, the biggest shareholder of Impact Developer&Contractor (IMP), has bought on Thursday 3.34% of the real estate developer’s shares from the pension funds managed by ING and reached almost 33% of the shares, a level that requests the launching of the takeover offer.

Bega Grup opens 11,000 sqm offices in Timisoara with EU financing

The first phase needed an investment of EUR 3.5 million, the total budget of the project reaching EUR 10 million. The first phase is 70% pre-leased, while the second phase is 40% developed and is scheduled for completion in the first quarter of 2014. The next phases will be decided depending on the evolution of the market request.

Businessman Ioannis Papalekas to invest in Romania money from the London Stock Exchange

The Greek businessman Ioannis Papalekas, one of the most active real estate investors in Romania intends to attract funds on AIM, the secondary platform of the London Stock Exchange, in order to invest mainly in the Romanian market.

BCR to get the land under Bancorex tower in exchange for historical building in Lipscani

Bucharest City Hall will exchange the land on Calea Victoriei where was built the former Bancorex headquarters (currently BCR headquarters) with a historical monument building on Lipscani St., owned by BCR, where the municipality will establish Bucharest Pinacoteca and will also pay a difference of EUR 5.8 million, according to a project approved on Friday by the General Council.

Ernst&Young moved in Tower Center in Victoriei Square

Ernst&Young, one of the biggest audit and consultancy firms has moved its headquarters starting today in the office building Tower Center on Ion Mihalache Blvd.

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