PPF Real Estate announces it has chosen the Romanian unit of Strabag as the general contractor for the construction of ARC, a premium office building to offer 30,000 square meters of space in one of Bucharest’s expanding commercial districts near the Basarab metro station. The ARC project is PPF Real Estate’s first development project in Bucharest, adding to the company’s existing office spaces available at Metropolis Center and Crystal Tower office buildings. The construction of the state-of-the-art and environmentally friendly ARC is scheduled for completion in 2026. “We are certain that ARC will be a trailblazer among top-notch office spaces in Bucharest and Romania. We are thrilled to select Strabag due to its excellent long-term track record in delivering building constructions to the highest standards, enabling investors and landlords to satisfy their tenants,” says Juraj Šaštinský, PPF Real Estate’s Investment Director. *** PPF Real Estate develops and manages commercial and residential projects across several markets in Europe and the US, including Florida, Poland, the UK, the Czech Republic and Romania. STRABAG SE is a European technology group for construction services. STRABAG has been active on the Romanian market since 1991, establishing its headquarters in Bucharest in 1994. Today, STRABAG Group has subsidiaries in all major regions of Romania and operates in all construction sectors, especially in the transport infrastructure, building construction and civil engineering segments, as well as in environmental construction projects.
The number of people in Romania at risk of poverty stood at 3.59 million people in 2024, 375,000 fewer than in 2023, representing a 9.4% decrease, according to data from the National Institute of Statistics, or INS. Despite the improvement, nearly one in five Romanians was affected by poverty last year. According to INS, 19% […]
The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca carried out multiple searches on Tuesday, July 1, at the Sibiu International Airport and the Sibiu County Council as part of an investigation into suspected fraud involving a EUR 54 million EU-funded infrastructure project. A total of 24 locations were searched across Bucharest, Brașov, and Sibiu county, […]
A Romanian taxi driver who scammed 90-year-old Nigerian Nobel Prize laureate Wole Soyinka was detained by police on Sunday, June 29, according to media reports. On Friday, June 27, the venerable Nigerian arrived at Bucharest's Otopeni Airport. He got into a taxi and asked to be taken to a hotel downtown. At the destination, the […]
Costin Șerban, a Romanian entrepreneur, is digitalizing the construction sector in the United Kingdom with an ERP (enterprise resource planning) solution developed over 12 years and an investment of GBP 1.6 million (EUR 1.86 million). Șerban’s cloud-based ERP platform is called Abilo, was developed by the Romanian IT company Obi Systems, and is dedicated to […]
Border checks between Bulgaria and Romania have officially been lifted on July 1, as part of the implementation of the Schengen Agreement. The lifting marks the end of the transitional period of heightened control at the internal border, which had remained in place for six months following their accession to the Schengen area by land […]
Remus Vulpescu became CEO of the Bucharest Stock Exchange (BVB) on Tuesday, July 1, taking over from Adrian Tănase as the stock exchange grapples with a market dominated by government bonds. Vulpescu, 53, is a graduate in political and legal sciences from the University of Bucharest and holder of an EMBA obtained in 2017. He […]
