Real estate transactions value in Romania in the first quarter reached EUR 180 million, with more than a half, EUR 96 million, represented by office projects sales in Bucharest, shows a study of JLL.
Penny Market, part of the German group REWE, is building the network’s third logistics centre in Romanian near Bacău, being the first retailer in Romania to have such a project in the region of Moldova. The investment in acquiring land, developing the building and the specific equipments will reach EUR 19 million.
IMMOFINANZ, one of the most important office building owners in Bucharest, announces numerous new partnerships and extensions of agreements with tenants in the local office sector, accounting for a total of over37,000 sqm. The company has attracted new tenants for 19,200 sqm and has prolonged and extended existing contracts for over 18,000 sqm in seven of its class A office properties in Bucharest.
Romanian car producer Automobile Dacia recorded a turnover of over EUR 4.3 billion last year, up by 1.76% compared to the previous year. It is the highest turnover recorded by the company in its history.
IMMOFINANZ raised the occupancy level in its office standing investments by roughly seven percentage points to nearly 82% by the end of the 2015/16 financial year (as of 30 April 2016). Rentals in the office segment totalled approx. 388,000 sqm, or 29% of the total area, according to preliminary numbers.
Bauelemente, manufacturer of precast concrete, part of Baupartner group, owned by German businessman Michael Dietrich, has completed an investment of 3.5 million Euros in a factory near Ploiesti, where it will expand production of prestressed concrete poles for agriculture .
Belgian real estate developer WDP will build a new factory in Braila, east of Romania, for the Japanese car parts producer Yazaki. The investment amounts to EUR 14 million, according to the developer’s Q1 financial report.
Manufacturing, real estate, banking and IT sectors were last year the stars of the mergers and acquisitions market in Romania, with more than half of the total registered transactions in 2015.
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