 
Real estate transactions soared by 150% in 2007 compared to the previous year, making the country the most booming property market in the Balkans.
Romania’s real estate business was worth more than €2 billion last year, with the most significant transactions involving the sale of office space in Bucharest and the country’s cities, local news agency [...]
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Romania has an efficient mortgage system in terms of the ease of procedures, costs, security and adequacy to market requirements, according to a report on “Mortgages in transition economies” released by the European Bank for Reconstruction and Development (EBRD).
The report looks at the legislative framework and the mortgage market in 17 Central and Eastern European [...]
The top ten land deals registered last year in Bucharest amounted to a total €500 million, according to a study by real estate consulting company Atisreal Romania, part of French group BNP Paribas.
Meanwhile, deals with real estate projects totaled €750 mln in 2007, mostly for office buildings.
Raiffeisen Evolution was top land buyer, with a €90 [...]
Ford on Friday officially took control of Automobile Craiova, the former Daewoo operation here, for a token payment of $80 million and a promise to invest more than $1 billion. Ford executives said the factory will assemble the Transit Connectin 2009 and a new small car in 2010.
Ford plans to boost the plant’s annual production [...]
A property-development firm run by Irishman David Sharkey has formed a joint venture to develop a €591million shopping centre in Romania.
Warsaw-based Caelum Developments, which is headed by Sharkey, has formed the 50:50 joint venture with an international shopping centre company called Sonae Sierra.
They plan to develop Parklake Plaza - which will include a range of [...]
C&A, a major apparel retailer, with over 1,000 stores in Europe, plans to open ten stores on the Romanian market by 2010, with the first location to be launched in 2009.
“In the first year, we estimate we’ll open between 4 and 6 stores, where we need around 100 employees, and by 2010 C&A’s store chain [...]
Franco-German concern Eurocopter is still interested in buying Romanian helicopter and light-plane manufacturer IAR Ghimbav, according to the President of the local council.
Aristotel Cancescu, president of Brasov county council, where the town of Ghimbav lies, put the offer price at 11 million euros for a 64.89-per cent stake.
IAR Ghimbav was put up for privatisation at [...]
Wizz Air opened its eighth operational base in Cluj, Central Romania which holds an new Airbus A320 plane and local crew members, a press release of the company shows. This is the second operational base of the company in Romania.
Moreover, the company launched its first flights from Cluj to Valencia and Milan, with a three [...]
Economic growth in Romania is outpacing the EU average, according to new statistics.
According to Eurostat, the eastern European country saw its gross domestic product go up by 8.2% during the first three months of this year.
This is more than three times the amount that was recorded across the EU as a whole during the same [...]
A combined-cycle power plant in Brazi, Romania to be built for oil and gas producer Petrom S.A. will be the first application of GE Energy’s highly efficient Frame 9FB gas turbine in Romania, further expanding GE’s growing presence in the country.
This large turnkey project is a ‘first’ for GE Energy in the region, according to [...]
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Low fares airline Blue Air which is based at Bucharest Baneasa airport is to launch scheduled flights from Cyprus to Romania next March. Blue Air new service from Larnaka to Bucharest will commence on Sunday 30 March 2008 with direct flights operating three times per week on Tuesdays, Thursdays and Fridays. Flights from Bucharest to [...]
Central and eastern European developer Adama Holding has raised E100m (£76m) of new equity in a private placement.
The company’s new investors are Morgan Stanley Real Estate’s Special Situations Fund III and two existing Adama shareholders, Lehman Brothers and Immoeast, a Vienna-based listed property company.
The new money will be used to fund Adama’s expansion in its [...]
The following addresses refer to buildings in Bucharest identified as “seismic risk level 1″, meaning that these buildings may not resist a future earthquake in the Bucharest area.
These building are identified with a red dot on their exterior facade.
1. ARCULUI 4, sector 2, an 1932, S+P+7
2. ARGHEZI TUDOR nr.26, sector 2, an 1939, P+8
3. ARGHEZI TUDOR nr 54, [...]
The new working program about the construction of the second bridge connecting Bulgaria and Romania over the Danube River envisages its completion in 2010.
The news was announced Friday in the city of Vidin by Bulgaria’s Deputy Minister of Transport Vesela Gospodinova.
Gospodinova took part in a meeting on the bridge project, which is to connect Bulgarai’s [...]
Romania’s biggest mall opens today in Băneasa, an area in the northern part of the capital, Bucharest, national media reported.
The Băneasa Shopping City will contain 221 stores, of which 70 per cent are open to customers today. The cafés and restaurants are expected to begin work after next weekend’s Easter holidays the Romanian newspaper Evenimentul [...]
Prince Charles began a four-day private visit to Romania Tuesday, where he is due to visit several villages in Transylvania, in the centre of the country, official sources said.The Prince met with Romanian President Traian Basescu and Prime Minister Calin Tariceanu on the first day of his trip, before traveling on to Miclosoara, a quaint [...]
Romania had the second largest compulsory private pensions market in Eastern and Central Europe last year, in terms of number of participants (4.16 million people), after Poland with 13.3 million and overcame other rapidly growing markets like Hungary or Bulgaria, the Commission Supervising the Private Pension System (CSSPP) announced on Wednesday.
According to local authorities, some [...]
The Danube River springs from the Black Forest Mountains and crosses the entirety of Europe before ending its 2860 kilometre journey in the Black Sea. The delta formed by the branching of the Danube into 3 main branches, Chilia, Sulina and Sfantul Gheorghe, truly is a natural paradise. This incredible area of water and land [...]
As you get to know Romanian people better, you will see that they are rather fond of eating and wish to honour their guests with generous and delicious meals. Romanian gastronomy has survived through the centuries due to its robust and simple structure. Over time it has been influenced by oriental and Slavonic cookery. Peasant [...]
Carrefour opens a new unit today, in the “Vitantis” shopping centre in Vitan, with a 4 200-sq m area, the company announces in a news release.
The investment in Carrefour Vitantis amounted to approx. EUR 12 mln. The new unit will have 36 cash registers and a parking facility for 2 000 cars. Although smaller than [...]
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