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Office Market News

PwC: half of the company managers in Romania expect higher income this year

The company managers in Romania are among the most optimistic in the world regarding the possibility of increasing income, half of them expecting a positive evolution over the next 12 months, while 56% intend to increase the number of employees, according to a survey made by PwC.

Romanians who buy buildings and land plots this year, pay the taxes next year

The local taxes for buildings, land plots, and cars that are purchased this year will be paid by the new owners only in 2017.

Inter IKEA real estate division buys 48 ha plot in Bucharest for mixed project

Vastint Romania, the real estate division of Inter IKEA, has announced the acquisition of a 48 ha plot of land in the northern part of Bucharest for a mixed project, “predominantly residential”.

Oracle to open new offices in Iaşi, Romania

Oracle will open offices in Iași, have announced the local city authorities following discussions with the USA ambassador in Romania, Hans Klemm.

New IASB leasing standard to impact real estate, heavy duty machinery and vehicle lessors, says EY

The new leasing standard sent out by the International Accounting Standards Board (IASB) last week will be implemented from 2019 and says that all assets subject to a leasing contract are to be registered in the lessee’s balance sheet, according to a press release from EY Romania.

Libra Bank considers real estate projects’ financing

Libra Bank, a small player in the Romanian banking system, part of the American investment fund un New Century Hol­dings, started the year in force on the real estate segment, announcing its intention to finance two residential real estate projects in Cluj and Braşov.

Investment fund invests EUR 10 mln in revamping mall in Romania’s Craiova

The shopping center Mercur Craiova, owned by local investment fund SIF Oltenia, will be reopened in April this year after an extensive revamping process. The total investment amounts to over EUR 10 million.

AFI Park 4&5 reach 50 pct occupancy rate two weeks before delivery

Two weeks before being delivered, AFI Park 4&5 reached a 50 percent occupancy rate, real estate developer AFI Europe Romania announced. This means that 16,000 sqm have been pre-leased of the total surface of the towers.

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