The question remains as to when Romania will regain its status as a popular destination for investors and developers with a yield premium on Central Europe and office and retail development opportunities in Bucharest and major regional cities.
AEW Europe today announced that it has raised an additional €85 million in equity from both existing and new investors for the LOGISTIS Fund taking the total equity in the fund to €600 million. This equity raising is part of the LOGISTIS’s strategy of growing the Fund’s portfolio with a target to invest in new logistics assets in Germany and Benelux.
Ared, one of the strongest residential developers outside Bucharest also operates on the logistic and office segments through its project Business Park UTA1, EUR 29 million investment, including 45,000 sq. m warehouses, 3,000 sq. m offices and commercial spaces.
Italian tyremaker Pirelli mentioned on Friday it had agreed to sell all of its steelcord business to Belgium’s Bekaert in a deal worth around EUR 255 M (USD 348.88 M), WSJ reports.
The motorway Nădlac-Arad (39 km) will be completed in December, at the same time the Hungarians are expected to complete the motorway Mako-Nădlac (23 km), so for the first time two big cities in Romania, Arad and Timişoara will be connected by motorway to Western Europe.
The snacks producer Best Foods, owned by the businessman Epameinondas Ochonos, has bought a plot of land of 8,000 sq. m situated on Bucharest’s Timişoara Blvd. for approx. EUR 2.9 million from the insolvent bread producer Spicul, controlled by the businessman Gheorghe Ilie.
Bosch has invested EUR 77 million in their research and production centre in Cluj, and the unit that started to operate and the end of last year is to be officially opened on May 9, announced the German corporation in a press release.
Okian, the company that runs the online book store Okian.ro, has launched, with EUR 500,000 investment, the e-fulfillment platform Frisbo, which is estimated to deliver orders of over EUR 1 million during the first year.
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