Revenues in Romania's luxury goods market are projected to reach EUR 535.82 million in 2024, with online sales contributing a significant 13.8 percent to this amount, shows a specialist survey by CBRE Romania released on Tuesday.According to the cited source, the demand for luxury goods is on the rise, driven by the upward trend in the population's standard of living.Also, CBRE announced that it will be the exclusive agent for the leasing strategy of H Stirbei Palace, an iconic historical monument located in the heart of Bucharest and one of the most anticipated retail projects in Romania's capital city. Thus, after the completion of renovation works, the Stirbei Palace is intended to become a landmark shopping gallery for Southeast European luxury brands."The Romanian luxury retail market in on the rise, and Bucharest is becoming an increasingly attractive destination for premium brands. This trend is fueled by the development of prestigious real estate projects, including 13 new five-star hotels planned until 2028, which will operate under brands such as Corinthia, Mondrian, Hyatt and Kempinski. According to a market report by CBRE Romania, an increase in prime rents for street locations was recorded in Q1 2024, which reflects the dynamism of this segment," mentions the cited source.CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company based in Dallas, is the world's largest commercial real estate investment and services firm, according to 2022 revenues.
TikTok has launched an Election Center dedicated to Romania's upcoming elections as part of its broader effort to protect "the integrity of the platform" and promote access to reliable information. The initiative is supported by a new media literacy campaign and ongoing collaboration with more than 20 fact-checking partners, the company said in a statement. […]
Romanian acting president Ilie Bolojan met on Friday, April 25, with a delegation from the Office for Democratic Institutions and Human Rights, or ODIHR, of the Organization for Security and Cooperation in Europe (OSCE), according to a statement from the presidential administration. The acting president told the delegation that Romania "is faithful to democratic principles […]
Shareholders of Romanian oil company OMV Petrom recently approved the distribution of record dividends amounting to RON 2.8 billion (EUR 562.6 million) for the 2024 financial year, as well as the 2025 budget, which provides for investments of RON 8.1 billion (EUR 1.6 billion). The decision was taken during the Ordinary and Extraordinary General Meetings […]
The 2025 edition of the European Film Festival (FFE), which takes place this year in Bucharest and nine other cities, will screen more than 40 feature films, 28 of which are national premieres. The festival will also present two selections of short films, also screened as national premieres. Among them are 11 documentaries, 13 films […]
Update: The Romanian Ministry of Foreign Affairs said in an official press release that the Romanian citizen was initially detained in the Abkhazia region four months ago and was later transferred to Sochi, Russia. "Steps have already been taken to provide consular protection and assistance with the central and local authorities, in accordance with international regulations," […]
Russia’s Federal Security Service, FSB, said on Friday, April 25, that it arrested a 23-year-old Romanian citizen on suspicion of spying for Ukraine by sharing the locations of Russian air defense systems. The unnamed man is accused of collecting and transmitting information about air defense sites in the Black Sea resort city of Sochi to […]
