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
The investments fund NEPI has increased last year its assets from 624 million euro to 1.04 billion euro, through acquisitions (such as Lakeview offices in Bucharest or City Park Constanta mall) and through new developments (Galati Shopping City), “threatening” the position of the largest investor from the local real estate market. Some 90% (920 million euro) of NEPI’s assets are Read more
The Austrian group Immofinanz, the largest investor in the Romanian real estate market, where it owns a portfolio worth over one billion euro, is analyzing the start of the construction of a new office project in Bucharest City, on the former industrial platform Electronica from Dimitrie Pompei Avenue. The Austrians bought in the summer of 2007 a plot of about 4 hectares from Electronica Bucuresti Company for 16 million euro, and at this moment, they probe the market for developing a business park with several office buildings. Immofinanz owns on Dimitrie Pompei Avenue also the business park Iride, which houses companies such as Orange, Cosmote, JTI or Procter & Gamble, but the project from Electronica might be the first one developed from scratch by the Austrians on the local market, considering that the rest of the offices owned were bought from other developers.