The number of residential building permits issued in Romania in the first five months of the year was 0.5 percent down from the year-ago period, shows data released on Friday by the National Institute of Statistics (INS).As many as 14,050 residential building permits were released between January 1 - May 31, 2024, with lower numbers of such authorizations recorded in the following development regions: Center (-237 permits), North-West (-122) and South-East (-59).Conversely, the following development regions saw an increase in the number of permits in the reporting period as follows: West (+108), Bucharest-Ilfov (+76), South-Muntenia (+64), South-West Oltenia (+5).As many as 3,050 residential building permits were released in May 2024, by 528 (14.8 percent) fewer compared to April 2024, for a total usable floor area of 698,534 sqm (-19.2 pct). Of the total residential building permits, 68 percent were for the rural area.The distribution by development regions of the decline in the number of permits released this May is as follows: South-Muntenia (-116), North-East (-106), West and Bucharest-Ilfov (-83 each), North-West and Center (-80, each), and South-East (-4). Conversely, the Southwest Oltenia development region saw an increase by 24 permits.As many as 516 building permits were issued this May for non-residential buildings (-13.9 percent as against April 2024) for a total usable floor area of 260,154 sqm (-57.2 percent). Compared to the previous month, the usable floor area covered by the non-residential building permits issued in May was by 347,246 sqm smaller, with the decline distributed by development regions as follows: Bucharest-Ilfov (-279,645 sqm), North-East (-52,856 sqm), North-West (-39,980 sqm), South-West Oltenia (-15,868 sqm), and South-East (-3,650 sqm). Increases were registered in the West (+27,973 sqm), Center (+13,685 sqm) and South-Muntenia (+3,095 sqm) development regions.A year-on-year comparison reveals an overall decrease in both the number of residential building permits issued this May (-11.6 percent), and in the total usable floor area (-7.3 percent), with the following distribution by development regions: North-West (-106 permits), North-East (-104), West (-44), South-East (-39), Center (-37), Bucharest-Ilfov (-33), South-West Oltenia (-24), and South-Muntenia (-12).Compared to May 2023, in May 2024 there was a decrease in both the number of issued non-residential building permits (-20.1 percent), and the total usable floor area (-24.3 percent).The breakdown of the year-over-year decline in the usable floor area covered by non-residential building permits (-83,444 sqm) is as follows: South-Muntenia (-53,998 sqm), West (-38,919 sqm), Bucharest-Ilfov (-8,466 sqm), North-East (-5,359 sqm) and South-West Oltenia (-1,944 sqm). The development regions to record a rise in the non-residential usable floor area were Center (+17,829 sqm), South-East (+5,983 sqm), and North-West (+1,430 sqm).
Young people aged between 16 and 18 in Romania will be able to establish and manage a new type of limited liability company (S.R.L.), which will be called a "firmă de exercițiu" (practice firm) and will have the abbreviation "S.R.L.-F.E.", according to a new project. A young person will be able to establish or acquire […]
Developer Skanska has signed an agreement to sell the first phase of the Bucharest office complex Equilibrium to Gordiusz Private Equity Fund, managed by Gránit Asset Management. The transaction value amounts to EUR 52 million. The Equilibrium office complex consists of two buildings in the business district Floreasca – Barbu Vacarescu. The first phase, which […]
This year's edition of the George Enescu International Festival, the largest classical music event in the country, will feature performances from some of the top sopranos and mezzo-sopranos of the moment. Among them are Asmik Grigorian, Sonya Yoncheva, Kristine Opolais, Magdalena Kožená, Julia Lezhneva, Sarah Aristidou, Jennifer Holloway, Aylin Perez, Elsa Dreisig, Rachel Willis-Sørensen, Ruxandra […]
Globinvest, an asset management company from Cluj-Napoca, is set to launch an exchange-traded fund, or ETF, grouping together companies in the energy sector and several financial companies. Globinvest, a company with 30 years of experience on the Romanian capital market, will list the new entity on April 28 under the symbol GIBEFETF. Ilie Cenan, Chairman […]
Cyberhaven, an AI-powered data security provider founded by three Romanians and two Ukrainian citizens, recently announced that it has attracted a USD 100 million Series D funding led by StepStone Group along with new investors Schroders and Industry Ventures, to further accelerate its rapid growth. The funding pushes the valuation of the company to USD […]
The electoral campaign for the presidential elections began on Friday, April 4, at midnight, with most of the candidates posting on social media within the first minutes. Far-right candidate George Simion, credited with the first shot at winning the first round according to the latest surveys, began the election campaign alongside his wife and supporters, […]
