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Office Market News

Crisis has affected Romania, results of adjustments were visible in 2013

Central bank Governor Mugur Isarescu mentioned the measures for Romania’s scheduled switchover to the European single currency in 2019.

Soravia converts Bucharest hotel in office space, wants to invest EUR 80 million in new office project

The local subsidiary of Austrian real estate developer Soravia Group has completed a EUR 1.5 million investment in the conversion of the Starlight Suites hotel in Bucharest into office space, the company announced today. The hotel was located on the grounds of Metropolis Center, an office and retail project Soravia opened in 2009.

How much values nowadays the most expensive land in Bucharest, bought before the crises

The seven hectares land near Romexpo in Bucharest (60,798 sq. m), bought by a joint-venture for EUR 72.9 million from Compania Industrială Griviţa in 2007 is the most expensive transacted plot before the crises.

NEPI, nearly 20 pct. higher profit in 1Q

The investment fund New Europe Property Investments (NEPI) registered a net profit of EUR 13.3 million in the first quarter of this year, with 18.6 pct growth compared to the same period of last year, according to a company’s report.

Romania registers in April highest annual inflation rate in EU: 1.6 percent

Romania and Austria had the highest annual inflation rate in the European Union (1.6 percent) in April 2014, twice as much as the one of EU 28, where prices saw a 0.8 percent annual growth, according to the data published on Thursday by the European office of statistics (Eurostat).

Cluj: EUR 6 million investments for a business support centre

City Hall in Cluj-Napoca signed the contract for the development of TEAM centre with the comonaies TCI Contractor General , Valdek Impex and Ianus SRL, an investment of nearly 27 million lei (more than EUR 6 million).

Romania’s new retail supply hits 9-year low in 2014, says JLL Romania

Only two modern retail schemes will be delivered in Romania this year totaling 62,000 sqm, according to a recent report from JLL Romania. This is the lowest level reported since 2005, according to the real estate service firm.

Romania had the biggest economic growth in EU in Q1 2014

Romania’s gross domestic product (GDP) grew by 3.8 percent in the first quarter of 2014 from the similar span of time of last year. This is the largest annual advance registered by a European Union (EU) member state, according to some preliminary estimates published on Thursday by the European office of statistics (Eurostat).

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Alexandra Filip

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