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ANALYSIS | Covid-19 outbreak to accelerate demand for logistics and office spaces
Tuesday, April 14, 2020
As one of the main drivers of the local economy, the Romanian real estate sector is highly competitive, showing sustainable development over the long term. Despite the Covid-19 crisis hitting Romania too, specialists say that the current turmoil will not have negative long-term effects on the local real estate market. The stock of modern office spaces in Bucharest reached nearly 2.7 million square meters last year, up 12 percent compared to the ...
Cars: Sales of new cars in Romania shrink by one third in March
Tuesday, April 14, 2020
The number of new cars registered in Romania decreased in March 2020 by 32% compared to March 2019, to a volume of 6,654 units. Thus, during the first three months of 2020, the number of new cars registered reached 27,979 units, down 22% compared to the similar period of 2019, according to the Association of Automobile Builders in Romania (ACAROM). With regard to used cars registered for the first time in Romania, their volume ...
Trade : Analysts: Malls closed over coronavirus lose 20 mln euro daily
Tuesday, April 7, 2020
The stores at shopping malls in Romania closed due to the coronavirus outbreak are losing up to 20 million euro ($22 million) per day from the lack of sales, real estate consulting company Cushman & Wakefield Echinox said on Friday. "The decision of the authorities to temporarily suspend the purchase of goods considered non-essential from the shopping centers affects more than 9,000 stores and each day when they are closed equals ...
Retail trade volume, up 12.5pc in Romania, Jan.-Feb. 2020
Tuesday, April 7, 2020
Compared to the previous month, in February 2020 the retail turnover volume (excluding the trade with motor vehicles and motorcycles) increased both as gross series by 0.4% and as adjusted series according to the number of working days and to seasonality by 0.8%. Compared to the corresponding month of the previous year, the retail turnover volume (excluding the trade with motor vehicles and motorcycles) increased ...
Eurostat: Romania, leader in the European Union in the growth of retail trade, in February
Tuesday, April 7, 2020
In February 2020 – the month before COVID-19 containment measures began to be widely introduced by Member States –, the seasonally adjusted volume of retail trade increased by 0.9% in the euro area and by 0.8% in the EU, compared with January 2020, according to estimates from Eurostat, the statistical office of the European Union. In January 2020, the retail trade volume increased by 0.7% in the euro area and by 0.8% in the EU. In February ...
Real Estate: Colliers: online shopping to support post-crisis recovery of Romania's real estate market
Tuesday, April 7, 2020
The recovery of Romania’s real estate market after the economic slowdown induced by the coronavirus pandemic will be marked by the consumers’ higher propensity for online shopping, the local office of global real estate consultancy firm Colliers International argues in a report. This would generate opportunities for some industries, including segments of the real estate market - such as stronger demand for logistic facilities required by ...
Tourism : Arrivals in tourist accomodation units down 4.5 pct in February; 16.7 pct foreign tourists
Tuesday, April 7, 2020
Compared to the corresponding month of the previous year, the arrivals in the establishments of tourists’ reception with functions of tourists’ accommodation decreased by 4.5 %, while the overnight stays decreased by 6.1% in February 2020. Compared to February 2019, in February 2020 customs registered an increase in the arrivals of foreign visitors of 9.6 % and an increase of 3.9% in the departures ...
Agriculture: Romania ranks 1st in EU in 2019 in cultivated area and maize and sunflower production
Tuesday, April 7, 2020
Romania ranked first in 2019 among the EU member states in terms of the cultivated area and the production of maize and sunflower, the National Institute of Statistics (INS) informed on Tuesday.In wheat, Romania ranked fourth, both in terms of the cultivated area and production, after France, Germany and Poland. In potatoes, it came in fourth as regards the cultivated area, after Poland, Germany, France and on the seventh place in terms of production, after ...
Study: Romania can fully ensure food for the people
Tuesday, April 7, 2020
Romania has production units which can fully ensure food needed by people, is the conclusion of a study made by Termene.ro, a platform specialized in offering updated information about financial and juridical data on companies. According to Termene.ro, the most important element of the food industry is the existence of raw materials needed to process food, a thing visible now in the number of companies from the farm producing ...
Healthcare: Romania's pharmaceutical industry to see record turnover of 68bn lei in 2020
Tuesday, April 7, 2020
The pharmaceutical industry in Romania will see record turnover in 2020, in the context of the increased demand for medicines and sanitary equipment, generated by the coronavirus pandemic, according to an analysis by KeysFin.Thus, according to the estimates of KeysFin analysts, the growth rate will double this year, and the turnover generated by the entire production and distribution chain will reach about 68 billion lei, an all-time high for the local ...
Infrastructure : Romania opens tender to buy 20-40 long-distance electric trains
Tuesday, April 7, 2020
Romania’s Government, through the Railway Reform Authority (ARF), launched on Friday, April 3, a tender for the purchase of 20 inter-regional electric trains with over 300 seats each, including the related maintenance services. The contract, with an expected value of EUR 270 million to EUR 765 million (without VAT), will be financed under the European Union’s Large Infrastructure Operational Program ...
COVID-19: Suspended flights from Romania
Tuesday, April 7, 2020
The seventh Military Ordinance marked that Romania has suspended flights to and from the US, Austria, Belgium, Switzerland, UK, Ireland, Netherlands, Turkey and Iran for 14 days starting April 5, 23:00 (Romania time), as the The Ministry of Internal Affairs has announced on Sunday evening. The travel restrictions, which are included in the seventh military ordinance issued by the Romanian authorities amid the coronavirus pandemic, do not ...
Healthcare: Investment of 600,000 euros in first complete telemedicine solution in Romania
Tuesday, March 31, 2020
The first complete telemedicine solution in Romania will be developed by the online medical programming platform Docbook, with an investment of 600,000 euros.According to the developer, the amount of money to be invested comes from the Next Capital Group, and the new solution will allow medical records, consultations, multidisciplinary consultation to move online, precisely to avoid direct interaction."We have sought to attract an active investor ...
Bulgaria and Romania are the last places in the EU to search for medical information on the Internet
Tuesday, March 31, 2020
In the last three months prior to the 2019 survey on the use of ICT in households and by individuals, one in two EU citizens (53%) aged 16-74 reported that they sought online ...
Trade: Prices of basic products rise sharply on March 17, after declaration of state of emergency
Tuesday, March 31, 2020
The prices of almost all basic products rose sharply on March 17, but most of these prices, except for the import goods, returned to their initial values on March 19 and 24, Minister of Agriculture Adrian Oros said on Wednesday."And if we look and analyze the situation we have here, immediately, on the 17th, the prices rose sharply for almost all of these basic products, but we find that on the 19th and yesterday, on the 24th, most of these prices, except for ...
Online transactions up 25 pct, median value of orders up 22 pct in this period
Tuesday, March 31, 2020
The number of online transactions grew by 25 pct last week, while the median value of orders placed increased by 22 pct against the same period of 2019, according to a statistics released Thursday by MerchantPro platform. At the level of the first three weeks of March, an increase of 18 pct was recorded in the number of the orders taken by the online operators with the said platform vs the same period of 2019.Only in the past week (16 - 22 March), ...
Shops in mall delivering electronics, household goods at home, not to be shut down
Tuesday, March 31, 2020
The shops in the malls which deliver electronics and household goods at home will not be closed, on Tuesday night announced the Interior Minister Marcel Vela."The temporary suspension of the commercial activity, according to paragraph 1 of the article that restrains the malls' activity, so to say the commercial centers, does not apply to the sale of electronics and household goods by the economic operators which ensure the delivery at home or at the buyer's venue, ...
Nielsen analysis: Retail sales in Romania up by over one third from 23 February to 15 March
Tuesday, March 31, 2020
Romania recorded in the period between 23 February - 15 March an increase by 37.2 pct of the sales in retail, versus the same period of 2019, the most important leaps being recorded at the personal care products and food, an analysis by the Nielsen specialists says. According to Nielsen analysts, our country has crossed the first four stages of behaviour and is currently one month after the local pandemic of COVID-19 has irrupted, already in the fifth stage, ...
Real Estate: CTP buys Equest Logistic Park for roughly EUR 30 M
Tuesday, March 31, 2020
CTP, a premium industrial park developer operating in Romania and Central and Eastern Europe, has expanded its portfolio in the vicinity of Bucharest, on the A1, at Km 13, the ground zero of the industrial logistic market in Romania, buying Equest Logistic Park for approximately EUR 30 million from Forum Serdika. The Cushman & Wakefield Echinox team that managed the sale process and assisted the seller was led by Tim Wilkinson, Partner Capital ...
Bucharest service-driven economy among most insulated in Europe to the new COVID-19 outbreak
Tuesday, March 31, 2020
The Bucharest economy stands as one of the most insulated service centers in Europe to the negative fallout related to the COVID-19 outbreak, according to Colliers International consultants, who analysed scenarios for various segments of the real estate market. This is largely due to Bucharest’s heavy reliance on IT&C activities as well as scientific and professional services, on par with European capitals like Dublin, Paris and London. ...