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Office Market News

Immofinanz exits logistics market in Poland, Czech Republic and focus on Romania, Germany, Russia

Austrian group Immofinanz, one of the largest property investors on the Romanian market, sold two logistics projects in Poland and the Czech Republic for EUR 33.2 million, and announced it will focus on developing such projects in Germany, Romania and Russia, the company’s representatives said.

Fortech Cluj invested EUR 3.5 million for their own office building

Software services supplier Fortech form Cluj-Na­poca, controlled by Călin Văduva, completed an investment exceeding EUR 3.5 million for its own headquarters, with an area of approx. 5,000 sq. m.

The managers of companies estimate growth for all sectors in July – September

The managers of the companies estimate for July – September growth in the retail sector and moderate advance for the manufacturing industry, constructions and services, by comparison to the three previous months, according to the indicator ‘short term’ of INS.

Mergers & acquisitions on the up in Romania thanks to international deals

The mergers and acquisitions market in Romania will go up in the next 12 to 18 months, because of transnational deals, according to an EY report.

CBRE: Only 5 pct of the modern retail stock to undergo complete renovation

Only 5 pct of the modern retail stock underwent complete renovation, while 15 pct of the stock only suffered few modifications, considering that almost 40 pct. of the total modern commercial area is functional for more than 6 years and needs repositioning or renovations, said Luiza Moraru, head of retail and asset services within CBRE Romania.

Kaufland expands its network with two new hypermarkets in Arad and Bucharest

Kaufland Romania, the owner of the largest hypermarket network on the local market, will open in August two new units, in Arad and Bucharest, in Bucureştii Noi district, reaching 94 units on the local market, according to the company.

Ponta: the foreign direct investments continued to grow in first months of 2014

Prime Minister Victor Ponta at the Victoria Palace on Tuesday said that the foreign direct investments continue to grow in the first months of this year, which allows a sustainable and stable growth, after which in 2011 they registered the lowest level over the past 15 years.

Company buildings to be taxed according to market value

The government will conduct a radical change in the way that companies are taxed for their buildings, writes Mediafax. At the moment, companies are charged by the State according to the official value established by accounting documents. The state wants buildings to be taxed based on an outside evaluation report, similar to market value, which would then lead to building taxes increasing.

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