Govnet

Logicor completes a new logistics warehouse of 44,000 sqm. Ikea and Heineken, amongst clients

Logicor, one of the most important owners and operators of logistics properties, has completed the development of a new logistics warehouse of 40,000 sqm in Bucharest.

Real estate

Hornbach's business grew by 5.7% in the first half of 2017-2018, to 2.3 billion euros

The Hornbach Group maintains the trend of growth in the first half of 2017-2018. From March 1 to August 31, 2017, Hornbach Holding AG & Co. KGaA reported a 5.7% increase in turnover, to 2,310.3 million euros (compared with the same period of the previous year: 2,186.7 million euros).

Real estate

EUR 17.1 mn transaction: CTP acquires a logistic park from UBM

CTP bought the The Chitila Logistic Park (CLP) from UBM Development in a deal valued at EUR 17.1 million. CLP has a strategically advantageous location and is well-connected to the west of Bucharest. The rentable areas span from 1,750 m² to up to 45,000 m² and can be used for storage, distribution and light industry activities.

Real estate

Belgian developer Atenor to develop a new office project in Expozitiei Boulevard

The Belgian real estate developer Atenor has bought a new site of approximately 11,600 sq.m located in the North-Western part of Bucharest, in the Expozitiei/Piata Presei Libere area, that will allow the company to develop a new office project of approximately 44,000 m².

Real estate

INS: Authorizations for housing construction climbed 6,2% in the first 8 months

The number of construction authorizations issued for residential buildings increased by 6.2% in the first eight months of 2017 compared to the same period of the previous year, to 27,605.Most of the authorizations are in the North-East region (+683), according to the National Institute of Statistics (INS).

In the period mentioned, the growth of the number of construction authorization was reflected in the development regions: North-East (+683 permits), Bucharest-Ilfov (+680), Center (+292), South-East (+177) West Oltenia (+120) and West (28).

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Real estate

Globalworth completes the acquisition of Green Court Bucharest

Globalworth Real Estate Investments Ltd. announces the completion of the acquisition of the C building of the Green Court Bucharest office complex, developed by Skanska Romania.

The transaction was made by acquiring 100% of the shares of the Epsilon Property Development Company S.R.L., the company that owned the asset, and has a value of approximately EUR 38 million, an amount paid to Skanska Romania.

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Real estate

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).

Real estate

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.