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Articles

Richest Czech enters Romanian real estate market with the acquisition of Metropolis Center office building in Bucharest

The Czech Petr Kellner, with a fortune of 11 billion dollars, buys the office complex Metropolis Center in Dorobanţi area of Bucharest from Austrian Soravia, according to ZF.

S Immo announces new date for construction works start at The Mark office project in Bucharest

Austrian company S Immo announces a new start date, the first quarter of this year, for the construction of The Mark office project in Grivița area in Bucharest, the EUR 60 million investment being blocked for several years due to difficulties in the real estate market and to the infrastructure works in the area.

Adam America buys Phoenix Tower from Aberdeen Asset Management and Commerzbank

Asset fund manager Aberdeen Asset Management and German lender Commerzbank have sold the office building Phoenix Tower in Bucharest to New York-based Adam America, a developer and operator of residential real estate, for an undisclosed sum.

German group Porsche opens auto software center in Cluj-Napoca

Porsche Engineering Romania, a local subsidiary of German group Porsche, will open a software development center in Cluj-Napoca.

Romania’s economic growth boosts business sentiment

Some 60 percent of companies expect their revenues to grow in 2016, while 15 percent anticipate a contraction, according to a study conducted by The Foreign Investors Council (FIC) among its members.

Construction work up by 7% in Romania in January

Construction work increased in Romania by 6.7% in January this year over January 2015, as a gross series, according to the National Statistics Institute (INS).

Investments in renovation of historical buildings in Bucharest exceeded EUR 100 million in the last three years

Between 2015 and 2016 the number of investors have increased, investors interested in buying old historical buildings situated in central areas, which are renovating them to international standards and put them into the commercial circuit. In the last three years, foreign as well as Romanian investors bought old properties in central Bucharest and renovated them with budgets of more than EUR 100 million.

Dedeman to pay EUR 6 million for the plot of Bucharest factory

DIY retailer Dedeman, controlled by Adrian and Dragoş Pavăl in Bacău, Romania, negotiates the takeover of a plot of nearly 3 ha in Bucharest’s sector 5 from the producer Industria Iutei.

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