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Former residence of Ceausescu, up for sale

The former private residence of late Romanian dictator Nicolae Ceausescu, the Primaverii Palace in Bucharest, will be up for sale, as the Romanian state only rarely uses it for three to four delegations a year, according to Mediafax. RA-APPS will take charge of transaction but it has yet to announce a starting price of a deadline for the sale.

Former GTC Romania’s head founded its own real estate development company and develop new office building in Bucharest

Former head of the real estate developer GTC Romania Shimon Galon founded a company together with several friends and former employees of GTC, which will deal with the development of its own real estate projects, but also for other investors.

Constructor Straco, EUR 140 million turnover, EUR 0.2 million profit

Bucharest’s constructor Straco Grup, controlled by the brothers Alexandru and Traian Horpos, ended last year with a turnover of 616.5 million lei (EUR 140 million), with 29% down compared to 2012.

Bucharest’s Top Office Tenants

Largest tenants in Bucharest’s office buildings are HP (32,000 sq. m), Romtelecom - Cosmote (28,000 sq. m) and UniCredit (28,000 sq. m), according to ZF study based on the data provided by the real estate agency Colliers, saying that only 20 companies and banks have rented in Bucharest spaces exceeding 10,000 sq. m each.

Epstein will invest EUR 40 million in total in Romania

Epstein owns projects worth of EUR 40 million in Romania currently in development, a similar level to the one reached last year. One of the contracts the American construction firm has on the roll is a new factory, where Aversa will relocate in the future.

The spaces exceeding 3,000 sq. m raised the office market in Bucharest in Q1

The share of the transactions exceeding 3,000 sq. m has increased from 19% to 43% of the total Bucharest office spaces in the first quarter.

Number of insolvent firms in Q1 of 2014 down 10 percent on year

The number of firms that have entered insolvency in the first three months of 2014 is down 9.75 percent compared to last year: from 7,535 companies in Q1 2013 to 6,800 companies in Q1 2014, according to data released by ONRC.

Erste :The Romanian economy could surpass this year the level of 2008 for the first time

The GDP of Romania could surpass for the first time this year the level of 2008, supported by a coming back of the domestic demand, while the main risks could deteriorate the trust of the consumers and an agricultural production under the expectations, estimate the Erste analysts.

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