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Investments in Romania-based commercial property projects exceed EUR 343 ml in 2013
Investments in Romania-based commercial property projects exceeded 343 million euros in 2013, rising by over 100 percent from 2012, shows the latest research report by CB Richard Ellis (CBRE).
As many as 15 sale agreements were completed in Romania in 2013 for 30 revenue-generating real estate projects with an average value of 23 million euros.
Some of the most important deals last year were those for City Park Mall, The Lakeview, Mega Mall Bucharest, Deva Shopping Center, Vulcan Value Center, Severin Shopping Center, all of which were performed by company New Europe Property Investments - NEPI; the acquisitions performed by Globalworth Real Estate Investment Limited (Timisoara Airport Park), the Galleria Suceava transaction, the Continental Hotel in Cluj Napoca (central Romania) and the acquisition of the Bucuresti store.
CBRE Romania top managers are these days highlighting to institutional investors the positive developments in the Central and Eastern European real estate market at the MIPIM international real estate fair running over March 11-14 in Cannes, France.
The CBRE officials are also to bring forward the upward trend in the real estate market of Central and Eastern Europe, that saw aggregate investments in excess of 10 billion euros in 2013, one of the best results since 2008.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2013 revenue). The company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide.