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CIT Restructuring: Real estate, least profitable industry in Romania

Real estate developments and consultancy is one of the biggest loss generators in the Romanian economy, along side metalwork. At the same time, oil and gas extraction activities are the most profitable, according to a study released CIT Restructuring.

Industry and IT&C helped Romania’s economy grow 1.8 pct in Q3 2014

The industry and the information and communication services had the biggest contribution at the economic growth registered by Romania in the third quarter, according to provisional data released by the country’s statistics bureau INS Wednesday.

Cushman & Wakefield: Bucharest overtakes Prague, Warsaw and Moscow in growth of office space inventory

Bucharest is second in Europe, behind Istanbul, when it comes to the growth rate of the office space inventory in the 2014-2016 period when the delivery of over 420,000 square meters, or 20 per cent of existing inventory, is scheduled, a Cushman & Wakefield report shows.

UNATC bought EUR 3 million headquarters in Bucharest’s Universitate area

The building was erected in 2003 and has a total built area of approx. 1,798 sq. m and a land of 726 sq. m , including semi-basement, ground floor and three upper floors, according to Esop Consulting, the company which has brokered the transaction.

Ericsson wins contract with Orange and expands its office with 30 pct.

Swedish communication industry group Ericsson, which has reached on the local market approx. 3,000 employees, continues to expand and rented in Bucharest a complementary space of approx 5,000 sq. m as the business increased and the company won a externalized services contract with Orange Romania, the largest mobile phone operator on the local market.

Romania introduces stricter conditions for companies that want to hire foreigners

Employers in Romania that want to hire foreigners must obtain a new document from the General Inspectorate for Immigration, according to a normative act that entered into force in late-November, reports local Ziare.com.

Dedeman buys plot of land in Hunedoara for EUR 1.2 mln

Real estate developer Plaza Centers has sold a 41,000 sqm plot of land in Hunedoara, center-west Romania, for EUR 1.2 million to local DIY retailer Dedeman, according to Mediafax newswire. The selling price is only half the property’s 2013 valuation.

IKEA’s Swedish billionaire to start real estate project in Timpuri Noi district

Real estate company Vastint, part of IKEA group, controlled by the Swedish billionaire Ingvar Kamprad, started the selection process of the constructor for the new real estate project situated on the former Timpuri Noi platform in Bucharest, four years after the Swedish bought the plot of land.

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