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Friday, 16 November 2007 18:23 |
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Nanette Real Estate Group NV has bought a 31,000-square meter lot in northern Bucharest. The company plans to build a 900-unit residential complex on the site for €78 million, and expects €123 million in total sales proceeds.This is Nanette’s third project in Bucharest and its fifth in Romania. The company expects that Lehman Brothers private [...]
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Monday, 10 December 2007 14:23 |
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The Rothschild banking family officially entered the domestic housing market last week in a deal worth 104 million euros for a 60 percent stake in three housing projects, which are controlled by the Israeli owners of Euro Habitat, the developer of Planorama project in Colentina.
The three projects are located in Ploiesti, Brasov and Bucharest’s Colentina [...]
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Thursday, 17 January 2008 18:44 |
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The campaign to put up a tourism brand for Romania saw a 2 million euro budget approved on Wednesday by the Government. Other 9 million euro will be spent on promoting Romania in Spain and Italy, also using state funds. At least four attempts to create such a brand took place in the past few [...]
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Friday, 22 February 2008 10:22 |
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Low fares airline Blue Air which is based at Bucharest Baneasa airport is to launch scheduled flights from Cyprus to Romania next March. Blue Air new service from Larnaka to Bucharest will commence on Sunday 30 March 2008 with direct flights operating three times per week on Tuesdays, Thursdays and Fridays. Flights from Bucharest to [...]
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Wednesday, 12 March 2008 22:02 |
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Central and eastern European developer Adama Holding has raised E100m (£76m) of new equity in a private placement.
The company’s new investors are Morgan Stanley Real Estate’s Special Situations Fund III and two existing Adama shareholders, Lehman Brothers and Immoeast, a Vienna-based listed property company.
The new money will be used to fund Adama’s expansion in its [...]
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Saturday, 22 March 2008 14:38 |
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The following addresses refer to buildings in Bucharest identified as “seismic risk level 1″, meaning that these buildings may not resist a future earthquake in the Bucharest area.
These building are identified with a red dot on their exterior facade.
1. ARCULUI 4, sector 2, an 1932, S+P+7
2. ARGHEZI TUDOR nr.26, sector 2, an 1939, P+8
3. ARGHEZI TUDOR nr 54, [...]
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Monday, 14 April 2008 12:16 |
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The new working program about the construction of the second bridge connecting Bulgaria and Romania over the Danube River envisages its completion in 2010.
The news was announced Friday in the city of Vidin by Bulgaria’s Deputy Minister of Transport Vesela Gospodinova.
Gospodinova took part in a meeting on the bridge project, which is to connect Bulgarai’s [...]
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Sunday, 20 April 2008 21:48 |
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Romania’s biggest mall opens today in Băneasa, an area in the northern part of the capital, Bucharest, national media reported.
The Băneasa Shopping City will contain 221 stores, of which 70 per cent are open to customers today. The cafés and restaurants are expected to begin work after next weekend’s Easter holidays the Romanian newspaper Evenimentul [...]
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Wednesday, 07 May 2008 10:57 |
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Prince Charles began a four-day private visit to Romania Tuesday, where he is due to visit several villages in Transylvania, in the centre of the country, official sources said.The Prince met with Romanian President Traian Basescu and Prime Minister Calin Tariceanu on the first day of his trip, before traveling on to Miclosoara, a quaint [...]
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Tuesday, 04 December 2007 09:00 |
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The number of shopping centres outside Bucharest has doubled this year from 9 to 18, and is expected to double again next year, as another 15 or 16 mall-type projects are scheduled for delivery outside Bucharest in 2008.
In comparison, only four shopping centres were delivered elsewhere in Romania last year: in Sibiu, Ramnicu-Valcea, Constanta and [...]
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Wednesday, 12 December 2007 08:39 |
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An international airport with an annual capacity of one million passengers will be constructed in two years, at the most, in the central locality of Ghimbav, close to the city of Brasov. The investment will total 100m euros. The registration act of the company International Airport Brasov Ghimbav was signed last week at the Brasov [...]
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Thursday, 07 February 2008 17:54 |
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Real estate transactions soared by 150% in 2007 compared to the previous year, making the country the most booming property market in the Balkans.
Romania’s real estate business was worth more than €2 billion last year, with the most significant transactions involving the sale of office space in Bucharest and the country’s cities, local news agency [...]
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Friday, 22 February 2008 10:25 |
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Romania has an efficient mortgage system in terms of the ease of procedures, costs, security and adequacy to market requirements, according to a report on “Mortgages in transition economies” released by the European Bank for Reconstruction and Development (EBRD).
The report looks at the legislative framework and the mortgage market in 17 Central and Eastern European [...]
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Sunday, 16 March 2008 22:40 |
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The top ten land deals registered last year in Bucharest amounted to a total €500 million, according to a study by real estate consulting company Atisreal Romania, part of French group BNP Paribas.
Meanwhile, deals with real estate projects totaled €750 mln in 2007, mostly for office buildings.
Raiffeisen Evolution was top land buyer, with a €90 [...]
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Monday, 24 March 2008 09:54 |
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Ford on Friday officially took control of Automobile Craiova, the former Daewoo operation here, for a token payment of $80 million and a promise to invest more than $1 billion. Ford executives said the factory will assemble the Transit Connectin 2009 and a new small car in 2010.
Ford plans to boost the plant’s annual production [...]
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Monday, 14 April 2008 12:18 |
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A property-development firm run by Irishman David Sharkey has formed a joint venture to develop a €591million shopping centre in Romania.
Warsaw-based Caelum Developments, which is headed by Sharkey, has formed the 50:50 joint venture with an international shopping centre company called Sonae Sierra.
They plan to develop Parklake Plaza - which will include a range of [...]
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Monday, 05 May 2008 08:54 |
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C&A, a major apparel retailer, with over 1,000 stores in Europe, plans to open ten stores on the Romanian market by 2010, with the first location to be launched in 2009.
“In the first year, we estimate we’ll open between 4 and 6 stores, where we need around 100 employees, and by 2010 C&A’s store chain [...]
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Saturday, 10 May 2008 22:44 |
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Franco-German concern Eurocopter is still interested in buying Romanian helicopter and light-plane manufacturer IAR Ghimbav, according to the President of the local council.
Aristotel Cancescu, president of Brasov county council, where the town of Ghimbav lies, put the offer price at 11 million euros for a 64.89-per cent stake.
IAR Ghimbav was put up for privatisation at [...]
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