Stirbey Palace Sold For EUR 9 M

Bucharest Arena bought the Stirbey - Buftea Palace from its heirs in a EUR 9 M transaction. The new owners will turn the building into a restricted-member area comprising a five-star restaurant and accommodation facilities.

BRD Triples Real Estate Loans

BRD-SocGen has sold three times as many real estate credits under its own norms, whereas the average value of a loan climbed by 25%. "For real estate loans, production (i.e. the number of credits sold) has tripled compared to the preceding weeks," Lucian Cojocaru, manager of BRD-SocGen's commercial department, told ZF. More

Ibiza Sol - New Alpha Bank And Raiffeisen Project

Alpha Bank Romania and Raiffeisen Bank are doing the first syndicated financing of a residential project in Romania. The project will consist in a residential development called Ibiza Sol, reads a company’s press release. The project development cost is approx EUR 57 M, of which the financing is EUR 40 M. More

Neocity Group And Partner In Romanian Project

Sources inform that Neocity Group Ltd. (TASE:NCT.B1) and a partner will build a €160 million (NIS 900 million) 300,000-sq.m. combined residential, commercial and recreation project in Romania. More

Immoeast: Real Estate Growth To Last For At Least A Decade

Edgar Rosenmayr, an investment officer with Immoeast, the most dynamic player on the domestic real estate market, says the Austrian group is focusing on the Bucharest market, on the office building segment, since the markets outside the capital city do not provide desired yields at present. More

Buying In Eastern Europe

Holly Kirkwood explores three Eastern European cities emerging from the legacy of communism and war to offer historic holidays and affordable homes... More

Israeli Property Firm Neocity To Invest EUR 160 Mln In Romanianreal Estate Project

Israel-based real estate investment and development company Neocity plans to invest EUR 160 mln in a 300,000-square-meter sqm) residential and commercial real estate project near Siutghiol Lake in Constanta county on Romania's Black Sea coast with an unspecified partner, the Romanian news site Bursa reported Friday. More

 

First Outlet Park Expects 1.3-1.6 Million Visitors In First Year

Belgian real estate developer Liebrecht&wooD, which is conducting 120 million-euro investment in a retail park located next to the Bucharest-Pitesti highway, has announced that it intends to open one or two more Romanian outlet centres, and is looking at Brasov and Timisoara in this regard. More

 

Romanian Property Investors Receive Boost With Budget Airline Expansion

Two budget airlines have announced an expansion to their presence in Romania - something that could prove to be of interest to overseas property investors in the country. More

Fierce Competition Over Top Managers On Real Estate Market

The current real estate boom has embroiled firms operating on the market into a competition to recruit individuals for high-level management positions. At least 10 top managers have changed positions in the past six months. According to human resources specialists, salaries for top management positions are often exceeding a monthly level of 10,000 euros. More