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Office Market News

Octagon to win EUR 2 million contract for the construction works of PC Business Center offices

Construction company Octagon, controlled by the Greek businessmen Alexandros Ignatiadis and Paschalis Paganias, won EUR 2 million contract for a part of the construction works of the office project PC Business Center, developed by Iridex Group Import Export in northern Bucharest.

Militari Shopping Center’s rental income drops 12.3 percent in first half

Property firm Atrium European Real Estate said Thursday its net rental income from the Militari Shopping Center in Bucharest fell 12.3 percent to EUR 3 million in the first six months, due to difficulties faced by do-it-yourself retailer Praktiker, one of its shopping outlet’s largest tenants, writes Mediafax.

Romania reenters technical recession. Biggest Q2 GDP contraction in EU

Romania has re-entered technical recession after experiencing two consecutive quarters of GDP contraction. Romania showed a surprise quarterly contraction while year-on-year growth slowed sharply to 1.2 percent from 3.9 percent in the first quarter.

The top of the office areas: where it was registered highest activity in the first six months

The relocation transactions volume increased in the first semester with 61 pct., while the renewals decreased with 33 pct.

Ovidiu Sandor started the construction of the last building of CBC Timisoara with EUR 26 million EU funds

Businessman Ovidiu Sandor started the construction of the fifth building in City Business Centre Timisoara, a project bought by the investment fund NEPI.

Foreign direct investments of 1.2 bn euros in H1 2014, by 10.3% below level in H1 2013

Foreign direct investments (FDI) in Romania totalled almost 1.2 billion euros in H1 2014, by 10.3% below the level in the same period of last year, reads a National Bank of Romania release issued on Wednesday.

Romtelecom sells some of its properties for EUR 3.5 million

Romtelecom is auctioning off 10 real-estate properties it owns in Bucharest and counties Iasi, Galati, Braila, Tulcea, Vrancea and Hunedoara. The telecom operator will set a starting price of EUR 3.61 million, without VAT, according to Mediafax.

Why buying former factories?

In the last ten years, most of the transactions with large plots of land in Bucharest were represented by the land of the former factories.

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Alexandra Filip

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