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Articles - Financial results

GTC registered revenues growth from renting commercial centres in Romania

Real estate developer GTC reported EUR 2.8 million from renting the three commercial centres in Romania, with 7 pct growth compared to the same level in 2013, on the background of a slight increase of the average rent and announced that it gave up some new developments, Romania included.

The revenues of Immofinanz, influenced by the departure of the tenants from the office buildings

Austrian group Immofinanz obtained in the first quarter of the fiscal year 2014/2015, from 1st of May to 31st of July, decreased revenues down to EUR 11.6 million from the renting of the 16 assets in Romania, as a result of the departure of the tenants from the office buildings in Bucharest, according to the financial report.

Romania, 4th CEE country by number of big companies

Romania is ranked 4th among countries in Central and Eastern Europe (CEE) according to the number of companies present in the Top 500 largest companies in the region edited by Coface and quoted by Mediafax.

Militari Shopping Center’s rental income drops 12.3 percent in first half

Property firm Atrium European Real Estate said Thursday its net rental income from the Militari Shopping Center in Bucharest fell 12.3 percent to EUR 3 million in the first six months, due to difficulties faced by do-it-yourself retailer Praktiker, one of its shopping outlet’s largest tenants, writes Mediafax.

The reconversion of City Mall to offices nearing completion

Greek businessman Ioannis Papalekas has another EUR 2.8 million to invest for the completion of the reconversion works of City Mall to office spaces, the project being scheduled for opening this autumn.

Romania’s retail turnover up 8.6 pct in H1, 2014

Romania’s retail turnover volume (excluding trade in motor vehicles and motorcycles) in the first half of 2014 grew by 8.6 percent, gross series compared to the first half of 2013, and by 8.2 percent as adjusted series for the number of working days and seasonality, according to data released on Monday by the National Statistics Institute (INS).

Immofinanz rental income down slightly in fiscal year 2013/14

Immofinanz posted rental income of EUR 47.1 million from its properties in Romania, in the fiscal year ended April 30, down 2.3 percent year on year.

Globalworth posts EUR 70 mln profit from Romania acquisitions

Real estate investment fund Globalworth, which was founded by Greek businessman Ioannis Papalekas and listed on the London Stock Exchange last year, posted a profit before tax of EUR 70 million for the first quarter of the fiscal year (January 1 to March 31, 2014).

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