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Cypriot fund buys real estate in Romania

Cyprus-based investment fund Secure Property Development & Investment recently bought the Praktiker store in Craiova, a part of the Delea Noua Office Building in Bucharest and houses located on the Grivita lake and in the south of Sofia, Bulgaria.

Ioannis Papalekas intends to buy Automatica land in Floreasca

Real estate investment fund of Global Finance is in advanced negotiations with Ioannis Papalekas, one of the biggest investors on the Romanian real estate market, for the sale of the project (land) Auto­matica/ Ford Building in Calea Floreasca from Bucharest, according to sources in the market.

Zara recruited its expansion manager from DTZ

Spanish group Inditex, the most important player on the local fashion market, where it is present with seven brands, including Zara, recruited Răzvan Sin for the position of expansion manager, according to sources in the market.

Bulgaria, Romania ranked last in EU in terms of 2013 GPD per capita

The European Union’s regions with the lowest Gross Domestic Product (GDP) per capita expressed in terms of purchasing power standards in 2013 are the French overseas department of Mayotte and regions of Bulgaria and Romania, according to data released on Thursday by the Eurostat European statistics office.

Romania’s Chamber of Commerce and BVB sign partnership to support entrepreneurs

The Chamber of Commerce and Industry of Romania (CCIR) and the Bucharest Stock Exchange (BVB) signed on Thursday a cooperation protocol, under which the two entities will work together to support the community of entrepreneurs in Romania, to promote as wider the solutions offered by the capital market to finance growth and development of companies and the business community.

Romania registers highest increase in construction work in the EU

Construction work increased in March by 13.3% year-on-year in Romania, recording the highest increase in the EU, where the advanced was of 1.3%.

AFI Europe Romania operating income up 8.1 pct in Q1

AFI Europe Romania announced on Wednesday the financial results for Q1, period which generated a net operating income of nearly EUR 9 million, representing an 8.1 percent increase compared to Q1 2014. The increase was driven mostly by the two new office buildings AFI Park 2 and AFI Park 3.

More than half of big companies in Romania, under imminent insolvency

About 60% of the companies with assets of over EUR 1.5 million are under imminent insolvency risk or in difficulty, said Andrei Cionca, general manager of insolvency firm CITR Group.

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