The South-African investments fund NEPI is carrying in Romania investments worth 460 million euro, in new projects or expansions of existing projects, and the overall GLA at the end of the projects is estimated at over 250,000 square meters. After completing all ongoing projects, NEPI should reach at a portfolio of assets with an overall surface of 660,000 square meters, considering that the fund already owns in Romania projects with an overall surface of about 380,000 square meters, valued at 656 million euro. Most of the ongoing projects are retail spaces, in Bucharest and in the province, and most of them should be completed in 2014 – 2015, according to a presentation of the fund. In this year, NEPI plans to complete In Q3 the project Vulcan Value Center in Rahova neighborhood of Bucharest, of 25,200 square meters. The project Read more
Garanti Bank has granted a loan of 4 million euro to FF Group Romania Company (former Elmec Romania), to raise a building in the middle of Bucharest, an investment of some 5 million euro which will include a _kix multi-brand store of 1,200 square meters. “Garanti Bank signed a financing agreement with FF Group Romania for the investment in rehabilitation of a historical building in one of the most important areas from downtown Bucharest, on Ion Campineanu Street. The real estate project will consist in Read more
The new shareholders of GTC Romania say that they plan to build new real estate projects but also to buy some projects in early stages of development, and the office segment is the one targeted. “The real estate market from Romania is going through a positive period and there are numerous investment opportunities. The land plots have reached at a better price, and the demand from companies for modern office spaces or for commercial spaces has returned to attractive levels. We are analyzing various development opportunities for the activity of GTC Romania, and we are interested in starting new projects and even buying other Read more
The number of real estate transactions has increased by almost 8% (over 21,000 operations) in the first four months of the year compared to the same period from 2013, reaching at 283,871 operations, announced the National Agency of Cadastre and Land Registration (ANCPI). In the first four months of 2014, the most transactions have been registered in Bucharest – 18,842, Timis County – 16,309 and Ilfov County – 14,564, while the fewest transactions were registered in Teleorman County – 1,905, Bistrita-Nasaud County – 2,335 and Covasna County – 2,888. On national level, in April 2014 have been registered 77,636 real estate transactions, 736 fewer compared to the previous month and 2,699 fewer compared to April 2013.
The South-African investments fund New Europe Property Investments (NEPI) reported for the first quarter a net profit of 13.3 million euro, 19% higher than in the same period from last year, of 11.2 million euro, according to a company report. The incomes from rents and other exploitation incomes have doubled to 19.8 million euro, from 9.9 million euro in 2013, according to the financial report sent yesterday to Bucharest Stock Exchange (BSE). Read more
The Greek businessman Ioannis Papalekas has raised 144 million euro from London Stock Exchange and plans to use them for investments, including the acquisition of the office building UniCredit HQ from Bucharest. Some 79 million euro from the funds raised come from an issuing of new shares. Moreover, we completed the transfer of the credit facility worth 65 million euro, accessed from UBS to the investment funds York Capital and Oak Hill. This facility will be converted into shares by December 18th 2014, which means that we will add 65 million euro to the share capital of Globalworth, shows and announcement of the investments fund Globalworth, created last year by Papalekas and listed on London Stock Exchange. The 144 million euro will be used for the development of the projects owned by the company (some 23 million euro), for the acquisition and the development of new projects (some 56 million euro) and to pay the credit facility of 65 million euro.
Ionut Dumitrescu, the entrepreneur who bought at the end of last year the land plot of the former Grivita brewery from Bucharest, will build on the plot of 28,000 square meters near Basarab Drive an office project, a commercial center and an entertainment area that will include a beerhouse too. The investment in this project is estimated at some 40 million euro. Dumitrescu, one of the founders of the real estste consultancy company Eurisko, which he sold to CBRE group, has started few weeks ago, along the German group Kaufland, to demolish most of the buildings of the former brewery, bought for about 10 Read more
The value of the transactions with real estate projects from Romania has increased incredibly in the first quarter to 303 million euro, exceeding the level from the entire last year, and the local market was on the thirds place in Central and Eastern Europe, after Poland and Russia. The transactions have increased in value and in volume in the period January – March 2014, when have been completed 9 transfers, compared to 4 in the same period of last year, according to a release from CBRE Romania. Last year, Romania attracted investments of 229 million euro, increasing by almost 25% compared to the year 2012. The most important transactions from this year were the buyback of the mixed project UpGround by Globalworth Real Estate from an investments fund part of Deutsche Bank, the acquisition of Innovations Park (industrial), of Moldova Mall (retail), of the commercial center Mario Plaza from Bucharest and of the former hypermarket PIC Oradea. The statistics include also the transfer of Charles de Gaulle Plaza building.
The real estate market from Romania is showing some rebound signs after six years of severe crisis, consider the investors active in the market and the consultancy companies attending at SEE Real Estate Forum. David Hay, the CEO of AFI Europe Romania, Latvia and Bulgaria, declared: “The American and European investors are interested in coming to the retail market from Romania. I am certain that there will be some transactions right from this year. Moreover, Romania is the next BPO market after Poland”. David Hay emphasized that the investors of the AFI investments fund take into consideration when selecting the real estate developments, the location and the quality of the public transportation, the possibility of expanding and the proximity to commercial centers. Along the current investments, the official of AFI also declared that the fund is planning a real estate project which will be located on Progresul Street from Bucharest, near Marriott Hotel, but is also planning the construction of Vulcan Retail Center.
“Many foreign companies from the real estate market came to us asking details and they are interested in Read more
The flows of capital from Central and Eastern Europe have started to penetrate beyond the safety and the stability of Poland and of the Czech Republic and the investors willing to risk are showing an increased interest for markets such as Romania and Hungary, according to Financial Times. For Globalworth investments fund, who is preparing a financing of 200 million euro for investments in Romania, the entrance of the other investors on the Romanian market might be the end of a period when the competition was modest. “At this moment there is a bit less competition for the businesses we are interested in. Everybody is looking at Poland and this is not bad for us, because Read more