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Articles - investitii imobiliare

EUR 5 mln to be invested in converting Bucharest historical building into retail and office center

FF Group Romania, the former Elmec Romania, has signed a EUR 4 million loan agreement with the local branch of Turkish Garanti Bank to finance the reconversion of a Bucharest historical building into a 5,000 sqm retail and office center, the bank announced today. The entire investment in the project will amount to EUR 5 million.

IKEA has the construction permit for Timpuri Noi project

Interprime Properties, the real estate division of IKEA group in Romania, has the construction permit for the project on the platform if the former Timpuri Noi factory in Bucharest.

Florescu, The Advisers: Răzoare Underground will sustain the office development in the area

Horaţiu Florescu, the president of the real estate consultancy company The Advisers Knight Frank and one of the most experienced brokers on the office market, is betting on the development of the area Politehnică - Răzoare - Trafic Greu as a business destination, considering the transactions signed in the last years as well as the underground Drumul Taberei - Eroilor which will enable the access to the area from other districts of the city.

JLL: Politehnica-Orhideea area has potential for the development of 150,000 sq. m offices

There is development potential in the central-western Bucharest (Politehnica-Orhideea) for approx. 150,000 sq. m office spaces, considering over 12 ha are available in this area, according to Attila Peli, the head of the land and development department within JLL.

EUR 23 million contract for a new office project from Comnord

Comnord Bucharest, company owned by Sorin Creteanu, is building a new office building for Proiect Bucuresti. The value of the contract is EUR 22.8 million, signed after an auction, according to wall-street.ro.

GTC’s new owners want to start or buy new projects in Romania, target office developments

Improving the results of the shopping centers it owns in Romania is the short term objective of Polish real estate developer Globe Trade Center (GTC) after it was taken over by Lone Star Funds, but the company is also looking at starting or buying projects in incipient phases, especially in the office segment, announced GTC representatives.

EUR 200 mln urban development plan for Bucharest’s downtown to be presented this week

Bucharest’s chief architect, Gheorghe Patrascu, will present an integrated urban development plan for downtown Bucharest worth EUR 200 million on June 3 during LAUD, the first event dedicated to urban public spaces and green spaces to be held in Romania.

The real estate market should grow gradually in order to avoid a new `bubble`

Some real estate developers are optimistic regarding the office request in Bucharest and continue the investments, but the vacancy rate of the spaces, the decrease of the rents, as well as the low purchase power on the local residential market cause a reserved attitude on the market, the development of this sector needing to be made gradually, in order not to enter a new “speculative bubble”.

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