Real estate transactions for office buildings, logistic areas and investment market in Bucharest will exceed 800 million euros in 2015, according to a study made by the real estate consulting company Colliers International. Outsourcing services continue to be the most powerful office sector as Romania has become more and more visible for big companies like BPO, SSC and IT, interested in Bucharest and secondary towns. Over 60,000 people are now employed in outsourcing activities and up to 150,000 employees are expected in this sector in the next 5 years. The most dynamic are for office areas is still Floreasca-Barbu Vacarescu which may reach a total stock of half a million square metres by 2020. The modern building stock has generated most demands, about 215,000 sq.m being rented in the last five years. The area will continue to be an attraction pole in the future, considering that over 155,000 sq.m of office areas will be built by the end of 2020. Bucharest is among East European Capitals offering 7.5% for the office sector, a similar retail level and about 9% for the industrial sector. Logistic areas have a vacancy degree of 8%, but by the end of 2016 the stocl will grow by 100,000 sq.m. The value of rents for new areas is between 3.5 and 4.15 euros/sq.m. According to the estimated consumption increase, Bucharest might have an additional 100,000 sq.m. of retail (non-food) areas, so that it could reach a total stock of over 900,000 sq.m of retail areas. In the last two years, the northern and Theodor Pallady areas have been the most active areas in Bucharest in point of land transactions. The northern part of the Capital, which includes Aviatiei, Barbu Vacarescu, Caramfil, Dimitrie Pompeiu and Floreasca, reported investments of over 100 million euros in land, with transactions for over 20 ha. For Theodor Pallady, the residential and retail sectors generated transactions for 50 ha, worth over 60 million euros.
Some dinners are eaten. Others are remembered. At Corinthia Grand Hotel du Boulevard, the past few months have unfolded like a quiet culinary opera. One by one, Europe’s most celebrated chefs arrived, took over the kitchen of Boulevard 73 and left behind more than menus; they left stories. Now, on December 4, the curtain falls. […]
HORIZON CITY, a €130 million residential project, is emerging as one of the most solid and forward-thinking developments in the Pipera area—both through its scale and through the modern direction it sets for the new residential standards in the north. Developed across nearly 23,000 sqm, with 699 apartments and 926 parking spaces, the project brings […]
Romania’s National Forest Administration, or Romsilva, announced that it is putting over 16,000 Christmas trees up for sale over the winter in a press release published on Thursday, November 27. The trees can be purchased directly from the offices of the forestry districts. Prices range between RON 17 (EUR 3.3) for a spruce...
Lot 3 Pietroasele–Buzău of Romania's A7 highway, also known as the Moldova highway, was inaugurated on Thursday, November 27. The newly inaugurated segment is 13.9 km long. The A7 connects Romania’s historic regions of Muntenia, the southern part of the country, with Moldova, the eastern part. “We are opening another 13 km of the Moldova Motorway […]
The City Hall of Sinaia, a popular mountain town roughly 120 km north of Bucharest, announced that a new attraction, the alpine coaster on Pârtia Nouă, will officially open on December 1. The installation, located in the ski area near the Sinaia Gondola, features what the authorities say is the longest track of its kind […]
The Romanian national team debuted with a victory in Group A of the Women’s Handball World Championship, organized in the Netherlands and Germany. Romania won 33–24 (13–12) against Croatia in the Ahoy Arena in Rotterdam on Thursday, November 27. The Romanian team dominated the match in the second half, left backer Sorina-Maria Grozav scoring 7 […]
