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Office Market News

JLL: Developers delivered office space for 8,000 employees in H1, but no malls

Real estate developers completed in the first half of 2014 office buildings for another 8,000 employees in Bucharest and 60,000 square meters of industrial space countrywide, but no shopping mall was delivered during this period, according to a report by real estate consulting firm JLL.

Revetas bought Vitantis retail park in a transaction of EUR 20 mil. debt assumption

Equest Balkan Properties sold the commercial park Vitantis Shopping Center in Bucharest to the company Revetas Capital, specialized in distressed assets acquisition, in a transaction of EUR 20 million debt assumption.

Land prices for real estate investments, down in H1 2014

The prices of the lands for real estate projects development have decreased with an average of 4 pct compared to the similar period of last year, in Arad (-14%), Alba Iulia (-10%) and Targoviste (-10%) being registered the most significant reductions, while in Bucharest they only went down with 2 pct.

Real estate transactions volume tripled in H1 2014

Real estate transactions volume in Romania reached EUR 400 million in the first half of the year, nearly three times more than in the same period of last year, said Marius Grigorica, associate director capital markets within DTZ Echinox.

NEPI to start construction of the office building near Government in a few weeks

NEPI will start soon the construction works for an office building near Victoria Palace, on the neighbouring site of Ormolu Villa in Bucharest.

ZF Study: Best Business Centres in Bucharest

Victoria Center building on Calea Victoriei, Sky Tower near Promenada mall and the business park AFI Business Park near AFI Palace Cotroceni mall are the office projects in Bucharest gathering most of the criteria on the list of the companies looking for offices, according to a ZF study based on the answers from eight real estate consultancy companies.

Papalekas’ Globalworth to build 105,000 sqm office compound in Romanian capital office hotspot

Real estate fund Globalworth, controlled by Greek investor Ioannis Papalekas plans to build an office compound right above the Pipera subway station in Bucharest, with an estimated EUR 98 million investment.

Anchor Group general director quits after 14 months on the job

Razvan Gaita, general director for Anchor Group since May 2013, resigned his position on August 1, for personal reasons. Gaita will start his own business so the renovation plans for the two shopping malls the Turkish developer owns in Bucharest are up in the air, writes Mediafax.
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