eMAG, the leader of the local online retail market, will invest 90 million euros in a new logistics center, at km 19 of the A1 motorway, which will cover an area of 130,000 square meters. Construction work will begin this month and will be completed in September next year, and all automation and technology will be operational by July 2022.
Deloitte Romania launches SmarTax application, a digital tool that allows companies to calculate and prepare the quarterly and annual corporate income tax (CIT) computation based on accounting documents available on any fixed or mobile device connected to the internet, thus digitizing their compliance process with corporate income tax reporting requirements. The application incorporates the entire fiscal legislation in force, while also remaining flexible to adjust to any future changes in the corporate tax area.
For the integrated real estate services platform Global Vision, the end of summer means an intense period of work. It is about completing 3 logistics and industrial projects in 3 strategic areas of the country and accommodating tenants who have decided to expand or move their operations in projects developed by Global Vision.
Romania's investment volume accounted for approx. EUR 395 mln. in the first six months of 2020, a value 17% higher than the same period of the previous year, according to CBRE, leader in the real estate consultancy market. Office buildings were the properties most sought after by investors, accounting for 88% of the volume traded and other similar projects are available for sale, totaling over EUR 350 mln.
In the industrial & logistics area, it has been business as usual during the pandemic, with some seeing big spikes in activity, but a significant pipeline of speculative developments and a competitive market are tilting the balance in favour or tenants.
The COVID-19 pandemic acted as a catalyst for change and reiterated the need to pay attention to how facilities are managed. From owned or rented offices, warehouses, retail stores, or production locations, all types of facilities will require increased attention and tailored plans for proper operation in the new context.
The real estate industry is one of the most important in the global economy, covering essential needs such as housing, offices, land or storage space. The real estate market reacts among the first when there are factors that trigger either booms or crises.
Central Europe chief financial officers have reached a pessimism peak as their confidence about the economic outlook and the wider business environment continues to fall amid the uncertainty caused by the COVID-19 pandemic, according to the latest Deloitte CE CFO Survey, conducted on more than 300 leading finance professionals in six countries - the Czech Republic, Estonia, Latvia, Lithuania, Poland and Romania.
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