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Office Market News

UniCredit plans to sell real-estate properties worth EUR 2.5 bln in the next two years

Italy’s UniCredit SpA banking group plans to sell real-estate properties worth EUR 2.5 bln, against the backdrop in which the main Italian bank is looking for ways to strengthen its balance sheet, Bloomberg informs.

Bucharest’s District 1 City Hall to build EUR 12 mln commercial complex

Bucharest’s 1st district Market Administration is looking for a general contractor for a multifunctional complex on Mures street, that will include shops, a food market, offices and a kindergarten. According to Mediafax, the project will amount EUR 12.6 million, VAT included.

Romanian real estate market to enter sustainable growth period in 2015, says Colliers International

After a record year for the local real estate sector in 2014, the market is now entering a sustainable growth period, said Ilinca Paun, managing director of Colliers International Romania on Thursday during the launch of the firm’s annual market report.

Romania’s Government to drop dividend tax next year

Romania’s Government plans to eliminate the taxation of dividends distributed by companies in Romania starting January 1, 2016. The proposal is part of the new Fiscal Code project that was presented by the Government on Wednesday, February 18.

Metrorex allocates EUR 8.6 mln for airport subway line

Metrorex, with an investment budget of nearly RON 2 billion (EUR 450 million) in 2015, will allocate RON 38.5 (EUR 8.6 million) for the subway line project that will connect Gara de Nord stop to the Henri Coanda airport.

Joint venture invests EUR 5 mln in Bucharest residential project

A joint venture between a Spanish company and a Romanian businessman develop a 56 apartments’ residential project in Popa Nan area in Bucharest, an investment amounting EUR 5 million.

New Tax Code lowers VAT to 20 pct as of next year

The new Tax Code draft foresees the decrease of the standard rate of VAT, as of January 1st next year, from 24 percent to 20 percent and for meat, fish, vegetables and fruit to 9 percent.

Capital Economics: Romania’s economy in advance this year by 3%

Romania’s economy will grow by 3% this year and by 3.3% next year because of the positive evolution of domestic demand, under the long term growth potential of 4% estimated by analysts from the British consulting company Capital Economics.

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