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Euro Insol sells MLP Bucharest Sud logistics park for EUR 14.2 mln

Euro Insol has, the liquidator of bankrupt MLP Bucharest Sud, has sold the company’s asset – the MLP Bucharest Sud logistical park – for RON 62.5 million (approximately EUR 14.2 million) to AGI-RRE Hera, according to Mediafax.

Fitch reconfirms Romania rating, keeps investment grade, revises economic outlook

Fitch has confirmed the rating on Romania’s non-Governmental debt on the long – term, to BBB- for foreign currency and to BBB for local currency. It kept Romania in the investment grade, but revised downwards the economic growth prognosis for this year, from 2.8% to 2.2%.

Works on Veranda shopping center in Bucharest to start next week

Construction works on Veranda shopping center, developed by Romanian businessman Florin Pogonaru in Obor area in Bucharest, will start next week, reports local Mediafax.

DTZ Echinox report: Retailers are running out of space to expand

Modern retail stock in Romania at the end of the first half of 2014 is of 2.787 million sq. m, Bucharest accounting for 31 percent with 875,000 sq. m, according to an analysis from DTZ Echinox. Shopping centers represent 60 percent, while retail parks and commercial galleries account for 25 percent and 15 percent from the total retail stock.

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.

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