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Ponta: Special construction tax will be cut from 1.5 to 1 pct

The special construction tax will be cut from 1.5 to 1 percent of the construction’s value and collected revenues will be at the local authorities’ disposal, instead of heading into the budget, prime-minister Victor Ponta announced on Thursday.

Smaller projects of a big investor

The company Globalworth, controlled by the Greek businessman Ioannis Papalekas, also includes in its portfolio smaller projects, apart the plans of several large office buildings, two of them being part of the brand Development 1.

Investors put EUR 750 million in local real estate since the beginning of the year, but large strategic players don’t show yet

The real estate market had more liquidity in the first eight months of this year, but NEPI and Globalworth, together with retailers such as Auchan or Dedeman, continued to be the most active players.

Romania climbs 17 points in Global Competitiveness Ranking

Romania jumped 17 positions, from 76 to 59, in the Global Competitiveness Ranking compiled annually by the World Economic Forum (WEF). Romania is currently placed better than other EU member states such as Hungary, Greece or Croatia, but is still behind Bulgaria, Cyprus, Latvia or Poland.

The cost of the working hour went up in Q2 in Romania, says National Institute of Statistics

The cost of the working hour has seen a 3.7 percent growth rate in the second quarter of this year, compared to the first three months. Compared to the same quarter of last year, the cost of the working hour has gone up by 4.99 percent , according to The National Institute of Statistics, quoted by Mediafax newswire.

Romania H1 net investments in economy down 9.1 pct

Romanian first-half net investments fell 9.1 percent to RON 25.18 billion (EUR5.71 billion) from the year-earlier period, on declining activity in construction and machinery and equipment, the country’s statistics institute INS said Wednesday.

Offices outside Bucharest, 11.5 pct of the transactions volume in H1

Office markets outside Bucharest registered in the first six months of 2014 11.5 percent of the transactions volume, in large cities such as Timisoara or Cluj.

Tagor appoints new sales manager for Adora Urban Village

Anca Dumitrescu has been appointed sales manager by real estate developer Tagor. She will be responsible for the Adora Urban Village residential project in south-western Bucharest and for another project the developer plans to build in Pipera, in the northern part of the capital.

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