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CPI Romania: We’ve had a very fruitful year in terms of office leasing
Tuesday, August 1, 2023
Since the beginning of the year, CPI Romania has signed over 35,000 sqm GLA, which represents 20 percent of the leasing activity for the entire Bucharest office market, while attendance in the group’s office buildings in Bucharest has reached 70 percent. Fulga Dinu, country manager at CPI Romania, talked to Business Review about the company’s plans for its local office and retail portfolio, which totals 590,000 sqm, and the trends shaping its operations in ...
CBRE: Investments in real estate market, down by 43% in first half of the year
Tuesday, August 1, 2023
The volume of investments in the Real Estate market went down to 183.8 million euros after the first half of the year, 43% less than the same period last year, and 21% of the total volume of investments was directed to the retail sector, in increase by 7% compared to the same year, according to an analysis released by the CBRE real estate investment company.Retail has attracted investments of 39 million euros and is in the top three in terms of ...
Agriculture: Value of agricultural production, down last year by almost 16%, to 109.56 billion RON
Tuesday, August 1, 2023
The value of agricultural production decreased by 15.8% in 2022, compared to the previous year, totaling 109.56 billion RON at current prices, according to data published on Tuesday by the National Institute of Statistics (INS).Plant production decreased last year by 22.8%, to the value of 71.91 billion RON, animal production by 0.5% (34.86 billion RON), while agricultural services increased by 29.2%, recording a value of 2.78 billion RON.In ...
Infrastructure: Braila Bridge – a great leap for Romania and the EU
Tuesday, July 25, 2023
* The new Braila Bridge over the Danube is an engineering marvel which shows that Romania can carry out complex infrastructure projects. It represents another milestone in the efforts of EU Cohesion Policy to enhance territorial integration and promote economic growth in the EU, ...
1,274 CFR Marfa rail cars sold off for 27.92 ml RON in debt repayment effort
Tuesday, July 25, 2023
The liquidation through the National Tax Administration Agency (ANAF) of garnished rail cars of the Romanian rail freight company CFR Marfa began in May 2022 and as many as 1,274 rail cars have been sold and invoiced so far for a total price of 27.92 million RON, CFR Marfa CEO Daniel Postolache told a news conference on Friday."The cars and engines placed under garnishment by ANAF since March 2020 are not used in the company's current activity, they are in conservation, ...
Hungarian businessman builds airport in Harghita for flights from Budapest
Tuesday, July 25, 2023
Hungarian mass media announced the inauguration of a private airport at Remetea, in Harghita, built by one of the richest businessmen in Hungary. Attila Balázs, the creator and builder of the airport, is one of Hungary’s richest men, with an estimated fortune of over 80 million euros. A passenger plane of the Hungarian airline Aeroexpress was the first to land, as part of a test flight, at the airport still under construction in Remetea ...
Trade: Spirits Romania: Budget revenues from the excise tax on ethyl alcohol decreased by
Tuesday, July 25, 2023
* 2.6% in the first semester, despite the increased excise tax. The phenomenon will intensify if the Government approves new taxes Budget revenues from the excise tax on ethyl alcohol have decreased by 2.6% in the first semester of 2023 compared to the similar period in 2022 (from RON 379.46 million to RON 369.68 million), despite an aggregate increase of 11% in excise tax in 2022. According to Spirits Romania Association, these figures ...
Real Estate: Luxury real estate in the Pipera area, preferred by foreigners due to low costs and proximity to international schools in the capital
Tuesday, July 25, 2023
80% of buyers in the first phase of the Bonton Luxury Villas residential project in Pipera are foreigners. The share of end buyers versus investors is 70% - 30%. The project is in the second phase of development, of 30 villas, which are in the final stages of completion The luxury real estate ...
Mortgage lending drops, amid rising housing prices in major cities of Romania
Tuesday, July 25, 2023
Housing in major cities of Romania continued to rise this year, and mortgage lending fell and no longer provided support for transactions, according to financial consultants with Kiwi Finance.Kiwi Finance ended 2022 with a record level of intermediated loans, worth EUR 400 million, up 15 pct, almost five times faster than lending to the population in the banking system as a whole, in conditions of business of about RON 45 million. Of the total loans intermediated by Kiwi ...
Cars: Romania ranks 14th in EU for new car registrations, in the first semester of 2023
Tuesday, July 25, 2023
Romania ranked 14th in the European Union (EU) in terms of new car registrations, in the first semester of 2023, with a volume of 73,645 units, an increase of 25.4% compared to the same period of the previous year, shows the statistics of the Romanian Automobile Manufacturers Association (ACAROM), based on the data of the European Automobile Manufacturers Association (ACEA).According to the cited source, in June of this year, new car registrations in the EU increased by ...
Second hand cars sold in Romania more expensive by 17%
Tuesday, July 25, 2023
The average sale price of second hand cars, have gone up this year by 17% in Romania, compared to the 2022 situation, to 12,800 euros, a market analysis released on Wedneday by an online sales platform shows. According to data centralised by Instant.ro, Volkswagen, BMW, Audi, Renault and Mercedes, followed by Ford and Skoda are second hand car makes Romanians prefer. In 2023 the buyers' interest focused on gasoline cars, to the detriment of diesel ...
Tourism : Transilvania Investments sells Coroana-Postavaru Hotel for over EUR 9 M
Tuesday, July 25, 2023
Aro Palace SA announces the completion of the sale procedure of Coroana-Postavaru Hotel, informs the company’s majority shareholder, the investment fund Transilvania Investments. The sales contract was signed on Friday 14 July with the winning company of the public tender. The final price paid by Elevate Properties SRL is EUR 9,367,000. “The completion of the sale process of Coroana Hotel allows us ...
New 4-star hotel inaugurated in Sovata Spa Resort
Tuesday, July 25, 2023
A new luxury hotel was inaugurated in Sovata spa resort, in Mures county, at the end of last week. Hotel Crystal has 4 stars and is a project initiated in 2021 from the need to raise to a new level the tourist offer of the resort which seems to be reborn from its own ashes after being ignored for a long time. Part of the financing was supported by the Pro Economica Alapítvány Foundation.The new hotel, Hotel Crystal, is located in the center of Sovata resort, ...
Real Estate: Colliers: Romanian real estate market concludes a favorable first half of the year
Tuesday, July 18, 2023
Consistent with the economic deceleration, the Romanian real estate market is displaying signs of moderation across various sectors, although the overall performance remains robust, as outlined by experts from Colliers Romania in their first-half outlook. The logistics and industrial market offers the most promising results, with leasing activity increasing by about a quarter compared to the same period last year. And in ...
Analysis: The most popular months for sales or rentals
Tuesday, July 18, 2023
The most popular months for apartment sales are January and August, while renters tend to search for properties in August and September. The analysis conducted by Storia.ro, which presents the most popular months for sales and rentals, took into account the number of contacts per listing in a given month (interactions between those searching and those posting listings on the platform) over the past three years. Therefore, 100 is the average number of contacts per listing in a ...
Agriculture: Jan - May milk collections advance 13.2 pct YoY
Tuesday, July 18, 2023
The amount of cow's milk collected by processing units over January - May 2023 stood at 512,744 tons, up 13.2 percent year-over-year, the National Institute of Statistics (INS) announced on Friday.Cheeses recorded the biggest production increase (+1.6 percent), while fermented milk products (yogurt, drinking yogurt, buttermilk and others) registered the biggest decrease (-9.4 percent).Raw milk imports decreased by 38.3 percent over January 1 - ...
Infrastructure: CFR SA announces losses of over 955 million lei for 2023, almost 910% higher than in 2022
Tuesday, July 18, 2023
CFR SA, the administrator of railway infrastructure, estimates losses of 955.436 million lei for the ongoing year, 909% higher than the one recorded in 2022, according to the motivation accompanying the draft Government Decision approving the income and expense budget for 2023 of the National Railway Company CFR SA, subordinated to the Ministry of Transports and Infrastructure (MTI). “The gross ...
Modernisation works of Braila Port, worth over 24 million euros, are 70% completed
Tuesday, July 18, 2023
The modernisation works of the Braila Port, carried out as part of an European funded project, worth over 24 million euros, are 70% completed, the general director of the national company "Administration of the Danube Maritime Ports" SA Galati, Marcela Costea informs on last Tuesday."The general objective of the project is the modernisation and development of the Braila Port in order to provide optimal conditions for the river transport of goods, with the ...
HiSky expects to reach one million passengers in 2023, by September
Tuesday, July 18, 2023
* The company secures 4th place in Romania, by market share HiSky continues to break records in the growth rate of passenger numbers. 537 thousand people flew with HiSky in 2023, according to the traffic data, reported after the first two quarters. By comparison, in the first six months of the previous year, the company recorded 194 thousand passengers. According to estimates based on the ...
Tourism: Survey: Almost 39 pct of Romanians say they will not go on holiday this summer
Tuesday, July 18, 2023
Approximately 39% of Romanians say they will not go on holiday at all this summer, and of those who will, more than 73% will spend their summer holidays in Romania, according to a survey conducted by CEC Bank in partnership with the banking comparison tool FinZoom.ro.When it comes to the budget allocated this year for the holiday - about 10% of respondents mentioned that they will allocate less than 1,000 RON, almost 25% answered between 1,000 - 3,000 RON, ...