6 Hectares Plot for Sale in Bucharest

The insolvency company Rominsolv is offering for sale a 6 hectares land plot for sale on Preciziei Street in the west side of Bucharest. On this land plot exist several constructions owned by the bankrupt Motor Transportation and Expedition Company (CETA), owned by the businessman Marius Cae.

“The entire asset is divided into three individual properties owned by three distinct juridical personalities (two of them are bankrupt), controlled by the same group – CETA SA. The property is to be sold as a unitary asset, but it can be sold individually in some degree. The starting prices for the bidding are about 9.5 million euro plus VAT for all three properties”, declared the representatives of Rominsolv.

The constructions include industrial halls of 10,600 square meters, an office building of 2,040 square meters and a workshop of 375 square meters. Among the assets offered for sale are also a cars inspection station, a cars service, car painting shop, parking lot and other facilities.

Globalworth Bought 30,000 Square Meters of Land in Bucharest

Globalworth, the investments company created last year by the businessman Ioannis Papalekas, has paid 14.3 million euro for several land plots with an overall surface of about 30,000 square meters, located in the north of Bucharest, on which he plans to develop offices and commercial centers. The land plots are located near Pipera subway station, at the corner of Dimitrie Pompeiu Avenue and George Constantinescu Street, shows a press release from the company. The land plots are near the residential ensemble Upground and Read more

Impact Developer & Contractor Waits for Better Prices

The real estate developer Impact Developer & Contractor (IMP) has in its portfolio over 70 hectares of land plots in Bucharest, Constanta and Oradea, which is “keeping for future value increase”. At the end of Q1, these properties were valued at 215 million lei (48 million euro). The land plots, with an overall surface of 734,487 square meters (of which 658,925 square meters in Bucharest), represent 93% of the real estate investments in the company’s accountancy, which also include residential properties, kept for the same purpose. Overall, the real estate investments of the company were estimated at Read more

Law Draft Proposal for Farming Land Acquisition in Romania

The Minister of Agriculture has developed a new law draft for regulating the sale of farming land to private entities, installing the preemption right for co-owners, neighbors, leaseholders, youngsters and of the state through the newly created Authority for Land Market Management and Regulation, limiting to 100 hectares the surface owned and restricting the sale by posting the sale offer at the mayoralty for 90 days. However, the law draft allows the EU citizens from other states, and from third party states, to buy land, with the condition that we have mutual international treaties signed regarding this aspect, and breaching this condition can be fined with 50,000 to 100,000 lei, while noncompliance with the condition of maintaining the farming destination of the land can be fined with up to 100,000 lei per hectare. 

Alex Jurconi, the president of the National Federation of Producers from Agriculture, Food Industry and Related Services from Romania (PRO AGRO), declared that the new law draft is good, considering that it encourages the consolidation of the farming land and not the crumbling of the surfaces. Read more

Turbomecanica offers for sale 3.3 hectares of land in Bucharest

Turbomecanica Bucuresti (TBM) factory will offer for sale a land plot of 3.3 hectares in Sector 6 of the Capital City after it completed the relocation of the production, according to a report sent to Bucharest Stock Exchange. “In August 2013 was completed the process of reconfiguring and relocating the production lines. After this complex operation have been cleared assets consisting of a land plot with constructions with the surface of 33,733 square meters, which will be sold”, shows the company, without offering more details. At the end of 2007, Turbomecanica bought over 5 hectares of land in the industrial park Bucuresti Parc Vest to relocate its production, paying 11.6 million lei. Two years ago, the company announced that it plans to sell buildings and land plots with an overall surface of up to 34,000 square meters located in Sector 6, for which wants the minimum price of 50 million lei.

Land for Cash in Romania

The real estate developer RomReal, with British and Norwegian capital, wants to sell a part of the 130 hectares of land owned in several areas from Romania in order to obtain cash, and it started to divide the land into smaller plots in order to sell them faster. “We are actively looking for buyers for some of the land plots we own in order to improve the cash level until the market rebounds. One of the current difficulties in the market is obtaining financing, so the company management is changing the area plans for several land plots in Constanta City in order to divide them into smaller plots”, shows a report from RomReal. The company representatives declared that the smaller plots with good locations can attract buyers with limited financial resources. The plots in RomReal’s portfolio have surfaces ranging from 4,000 square meters to 865,000 square meters.

Residential plots got cheaper in Romania

Since the start of the crisis in 2008, the prices of land plots from Bucharest’s built area and form surrounding areas have cheapened by up to 80%, and the situation is the same in the case of the other large cities of Romania. The clients interested in buying a residential plot for a house on the outskirts of any of the large cities of Romania can make such an acquisition with a maximum budget of 10,000 euro in many cases, Read more

Farming land legislation and prices will change in Romania

The agglomerating of the farming land plots will increase the value of the farming land from 1,000 euro at this moment to 10,000 euro in a few years from now. The value of the farming land in EU is now at 8,000 – 10,000 euro/ hectare, while in Romania, the land plots outside the built area are sold at prices starting from 1,000 euro/ hectare and reaching at 8,000 euro/ hectare. Read more