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Office Market News

Hercesa to change strategy, building 120 residential units under EUR 40,000

Spain’s Hercesa, the owner of several residential projects, but also Cismigiu hotel in Bucharest, states its intention to develop starting next spring residential units for a price smaller than the price of the units developed by now, studios and two roomed apartments at EUR 38,000 respectively.

No significant real estate transactions for Romania in 2Q 2013

Romania did not register any significant real estate transaction in the second quarter of this year, the difficulties in obtaining funding but also the investors view regarding the risk level of the local market being contributing factors of this situation.

Get your invitation to RENEXPO® SOUTH-EAST EUROPE

RENEXPO® SOUTH-EAST EUROPE, the biggest and most important renewable energy and energetic efficiency in Romania presents the 6th edition, between 20 and 22 November 2013 in its newest location, the most modern exposition centre in Romania, EXPOROM, Bucharest.

NEPI real estate fund could grow the dividend with 15% for the first term

South-African fund New Europe Property Investments (NEPI), one of the biggest real estate investors on the Romanian market in the last years, anticipates to distribute in the first semester a dividend with 15% higher than the one offered to the shareholders in the similar period of last year.

Bankrupt mall in Focsani further 10% cheaper

The judicial liquidator of Omnium Invest, the company which has built the structure of the mall that was supposed to become Focşani Plaza, has dropped the liquidation price again.

Papalekas to develop luxury suites in Floreasca

The discreet Greek businessman Ioannis Papalekas, who intends to get money for investment in Romanian real estate from the London Stock Exchange, has in plan another luxury residential building in Bucharest.

Liviu Tudor, biggest Romanian office owner: „As an investor, you must be present in Romania after the crises. There will be hugely to build. “

In the 12 office buildings developed by Liviu Tudor with EUR 300 million there are working 20,000 employees of HP, Renault, Alpha Bank or Ericsson.

Residential project Citadella Titan, in insolvency, to find its buyers

Residential project Citadella Titan in Bucharest, a project became insolvent at the beginning of last year, will be sold to investors in less than a month.

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Adina Camara

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