The share of Bucharest in terms of newly delivered housing decreased to 57.4% in 2022, from 66.5% in 2020, while Ilfov County increased from 33.5% to 42.6% in the reference period, according to an analysis published on last Wednesday."The urban gridlock has clear effects in terms of the accessibility of new homes in Bucharest. It increases the share of deliveries from neighboring areas, this fact having a direct impact on the increase in traffic values and pollution in the Capital, where people come to work, to bring their children to school or for social activities. In the context of the growing strategic importance of the CEE area, Bucharest loses major investments due to the uncertainty and lack of predictability in terms of urban regulation. The Romanian capital is in competition with other capitals in the CEE area, not with secondary cities in country, so the losses are incurred by the Romanian economy," explained Despina Ponomarenco, chairwoman of BREC.The specialized analysis reveals that, in accordance with the financial statements submitted to the National Fiscal Administration Agency (ANAF) by the companies active in the construction and real estate industry, as well as with the statistics of the National Institute of Statistics (INS), Bucharest's contribution to GDP- the national rate decreased from 37% in 2019 to 34.6% in 2021, respectively to 29.8% in 2022, a level similar to that of 2010.According to the quoted source, the estimated loss for tax revenues amounts to 3.45 billion euros, for the period 2022-2026, while the loss from the value added in the economy for the same period is 10.4 billion euros.The data from INS highlights the decrease in the number of homes delivered in Bucharest to the detriment of those delivered in Ilfov. Thus, from 66.5% in 2020, it dropped to 60.6% in 2021 and to 57.4% last year. At the same time, the share of Ilfov county increased to 42.6%.Bucharest Real Estate Club, organization of the real estate market, is composed of major, local and international investors, active in the segments of urban regeneration projects, office buildings, logistics and industrial parks, retail parks, residential investments, with cumulative portfolios of over ten billion euros.
Romania, which for years ranked last in the EU for packaging waste recycling, now stands at the forefront of Europe’s circular economy, proving that a country with initially fragile infrastructure can implement, in record time, one of the most effective collection and recycling systems in Europe. This rapid transformation is taking place in a European […]
Tucked inside Radisson Blu Hotel, Bucharest, Ginger Sushi Bar & Lounge marks the turn of the year with an intimate New Year’s Eve dining experience built around a multi-course tasting menu. From 19:00 onwards, guests are welcomed to a carefully paced evening that blends Japanese inspiration with premium ingredients, from scallops and Wagyu to Chilean […]
Romanian non-profit Dăruiește Viață has completed a new renovation project at the “Louis Țurcanu” Emergency Children’s Hospital in Timișoara, upgrading the Pediatric Onco-Hematology Transplant Unit to modern medical standards. The investment, worth approximately EUR 150,000, was funded by Linde Gaz Romania and Atos Global Delivery Center. The organisation has been working with the Timișoara hospital […]
The multimedia exhibition Aici Se Vede Jazz (Here You Can See Jazz), set to open at SAC Berthelot in Bucharest, explores how jazz found its way in the pre-1990 Bucharest and “the contemporary ways to listen, visualize, perform and relate artistically to its world of sounds and ideas.” Bucharest had improvised studios, rehearsals with the […]
Aon Romania, part of the global group Aon plc, draws attention to the urgent need for structured solutions to protect trade receivables in an economic context characterized by high volatility and geopolitical uncertainty. The subject was central to the discussions at TRADE CREDIT TALKS - Receivable Protection in the Age of Volatility, where business leaders […]
Bucharest’s shopping centres posted mixed financial results in 2024, with major discrepancies between the city’s largest malls and mid-sized retail centres, according to financial analysis platform RisCo.ro. The data shows contrasts in profitability and turnover, as well as significant losses among some of the capital’s biggest retail projects. AFI Cotroceni recorded the highest turnover of […]
