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ING: Romanian currency ends 2014 with 0.5 pct depreciation, outperforms zloty and forint

The Romanian currency, the leu, ended 2014 at an exchange rate of 4.4860 lei per euro, which represents an appreciation by 0.1 percent for the session of December 31.

Year in Review: Real Estate

The total property investment volume in Romania increased to approximately EUR 1 billion in 2014, marking the highest annual level since 2008, according to pundits. Office has been by far the best performing real estate sector but there is good news coming from retail, logistics and industrial and residential as well.

Bucharest’s Pipera Blvd. to be revamped by end-2015

The total investment for revamping and expanding Pipera boulevard in the north part of Bucharest will exceed RON 83 million (some EUR 18.5 million) and work is to be completed by December 2015, according Florentin Pandele, the Voluntari city mayor.

Telekom, Vodafone and Orange rented the largest office areas in 2014

The telecom companies made the largest office transactions last year, the three big players in the market - Telekom, Vodafone and Orange – having consolidated their activities in new buildings by pre-renting, followed by important contracts signed by the IT companies.

Main developments on the Romanian real estate market in 2014

Real estate developers focused more on office projects in Romania this year, and less on retail and logistics projects.

Mega Image targets Billa acquisition

Mega Image, owned by Belgian group Delhaize, is currently looking into the possibility of acquiring the Billa network, according to several sources on the market quoted by zf.ro. A British investment fund is another player interested in the 80-unit network that posted a EUR 300 million turnover last year.

Mega Image buys land plot near Bucharest for a new distribution center

Mega Image has acquired a terrain in Stefanesti, near Bucharest, where it will build a new distribution and logistics center, according to information on the real estate market picked up by Mediafax.

China’s Huawei wants to reach over 1,000 employees in Romania

Chinese company Huawei wants to reach over 1,000 employees in Romania in the coming years, as the local market is one of the main development targets for the company.

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