Economics
Globalworth develops the new headquarters of Groupe Renault Romania
The largest leasing transaction registered on the Bucharest office market was announced by Globalworth Real Estate Investments Ltd., with the acquisition of a 57,000 sqm land previously owned by Coca-Cola HBC Romania and the development of the new Groupe Renault Romania headquarters in Bucharest by Elgan Offices SRL, a company owned equally by Globalworth and Elgan Group (represented by Simon Roth). more »
Regional operations centers give Romania’s real estate market a boost
With a 4.8%-GDP growth in 2016 and the highest estimated growth rate in 2017 among EU member states, Romania has become an increasingly attractive destination for regional operations centers. The tax and legal regimes along with the geographic location, as well as the highly yet not so costly labour force are some of the key ingredients contributing to the country’s attractiveness, according to the Recipe for successful tax, law & real estate of regional operations centers in Romania report prepared by Deloitte Romania, Reff & Associates- Deloitte Legal together with Knight Frank.   more »
July 04, 2017 13:33
The Sovereign Development and Investment Fund will be managed by the Ministry of Finance, and ministries who have managed the fund companies so far, will retain certain coordination prerogatives, Energy Minister Toma Petcu said in a conference quoted by Agerpress.  "Through the governing programme, one of the strategic objectives is the sovereign investment fund, important for Romania's economic development, which will be an economic development engine. In my opinion, all companies, not just in the field of energy, because we are talking about a general investment fund, all profitable companies that have strong capitalization in any field should be in this fund, depending on the communication we will have with the European Commission and based on the decisions regarding competition, so as not to cause problems," the minister said....more »
July 03, 2017 14:16
Globalworth Real Estate Investments Ltd. announced the acquisition of the "C" building of the Green Court Bucharest office building, developed by Skanska. The gross transaction value is estimated at 38 million euros, and the acquisition is scheduled for the third quarter of 2017. ...more »
June 26, 2017 16:59
The shareholders and the management of the Midia Marine Terminal (MMT) SRL, held by KazMunayGas International Group intend to change the Midia Port terminal into the most important energy hub at the Black Sea, thanks to a portfolio of invest...more »
June 26, 2017 16:47
Monsson Operation, a company member of Monsson Group, which offers services like wind turbine operation, maintenance and service in Europe, Africa, America and New Zealand, plans to hire 200 technicians and engineers by the end of 2017 .  Monsson has been focusing on renewable energy since 2004 and has become an important player in the world, with over 2.4 GW of projects in its portfolio. Monsson Operation is now active in more than 20 countries, having several offices in Sweden, Ireland, Qatar, Poland, Germany, USA and South Africa....more »
June 26, 2017 13:08
Mitiska REIM, the Belgian real estate investment and fund management firm, announced the acquisition of the Alpha Property Development portfolio, consisting of 11 income producing retail parks and 3 development opportunities. The acquisition was made on behalf of Mitiska REIM’s institutional fund, First Retail International 2 (FRI 2). The existing properties are all multi-tenanted and anchored by either Lidl and/or Kaufland. The portfolio comprises a total of 55,000m² GLA and is fully leased to strong local and international brands such as Deichmann, Takko, and Pepco...more »
June 20, 2017 15:20
The cumulative level of the net assets of the five SIFs (Financial Investments Society) was 8.15 billion lei in May, up 5.8 pct from the level recorded at the end of April, reads a press release of the Association of Fund Managers in Romania.  "Following the evolution of the net assets in the reported month, we can see that the five SIFs registered only positive developments, with a 7.5 pct growth in SIF Moldova, 6.4 pct at SIF Transilvania, 6.3 pct at SIF Oltenia, 4.6 pct at SIF Banat-Crisana and 4.1 pct at SIF Muntenia," reads the quoted document....more »
June 19, 2017 15:34
The number of the foreign participation companies registered in Romania January through May is up 8.5 percent, as compared to the similar period of 2016, to 2,406 units, read the data released by the National Trade Register Office (ONRC). The new registered companies have a share capital worth over USD 16.7 million, up 8.7 percent against the January-May 2016 reference period....more »
June 19, 2017 09:55
Investment fund Atterbury Europe acquired 50% of the shares of Iulius Group, one of the largest Romanian real estate developers focusing on shopping centers and office buildings. The transaction between Atterbury Romania and Iulius Group will comprise the operation of Iulius Mall Iasi, Iulius Mall Cluj, Iulius Mall Suceava, Iulius Mall Timisoara, the mixed – use urban regeneration project Openville Timisoara, as well as future development of similar projects in Romania....more »
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