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Office Market News

IVG closes acquisition of Le Palais in Warsaw

IVG Institutional Funds GmbH, acting on behalf of IVG Warsaw Fund, closed the purchase of Le Palais from a subsidiary of Warimpex Finanz - und Beteiligungs Aktiengesellschaft. The total purchase price amounted to ca. €31 million.

Lidl Opens New Store in Galaţi

German retailer Lidl opens a new store in Galaţi, the third within the city and the 165th of the network in Romania, the company announced.

Billa Reached 80 Supermarkets Network

Billa, part of the German group REWE, reached 80 stores network in Romania, following the opening of a new store in Timişoara, the third opened by the retailer in this city.

New Tax for Property Types Currently Exempted

The owners of constructions which are not part of the category of buildings, such as parkings and pools, will have to pay tax starting next year.

JLL: Flat Tax Increase Will Postpone the Real Estate Investors Return

The eventual increase of the flat tax will damage Romania’s competitiveness, and the negative effects could not be counteracted by VAT decrease, has declared Gijs Klomp, head of Jones Lang LaSalle (JLL), saying that all the real estate market segment will be impacted by such a measure.

Real Estate Investors Brought EUR 215 Million for Romanian Subsidiaries in 9 Months

Romanian real estate investors with foreign shareholders have received in the first nine months EUR 215 million capital increase in total, growth being registered compared to last year’s similar period, when the subscriptions totalized approx. EUR 200 million, according to Trade Registry.

WB: Romania ranks 73 out of 189 by ease of doing business

Romania has retained its No. 73 spot out of 189 states in the rankings of the states where it is easiest to do business, shows the most recent edition of the Doing Business report drawn up by the World Bank (WB), that was launched in Washington on Tuesday, Agerpres informs.

Millenium Building Development: Cathedral Plaza Situation can be solved without Conflict. The Construction is Legal

Milllenium Building Development, the owner of Cathedral Plaza, considers the building’s situation – currently having a demolition decision – can be solved without conflict and hopes that Bucharest city Hall will issue a new permit, as the construction demolishing could produce EUR 70 million loss.

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