The leasing activity on the Romanian offices, industrial and logistics markets registered significant changes in the first nine months of this year compared with 2015, according to JLL Romania.
P3 Logistic Parks, a leading specialist pan-European owner, developer and manager of logistics properties, announced today that GIC, Singapore’s sovereign wealth fund, has signed a definitive agreement to acquire P3 from TPG Real Estate and its partner Ivanhoé Cambridge. The transaction values the business at €2.4 billion and is the largest European real estate transaction this year. The transaction is subject to regulatory approval and is expected to close by the end of 2016.
Renault is the sole tenant of an warehouse of 65,000 sq.m owned by Simon Roth near Piteşti, and the sale of the warehouse will bring the investor the necessary capital to start the office project in Western Bucharest, built especially for Renault.
Romania will register an increase of 4.8 percent in the Romanian economy in 2016, the highest level of Europe, according to the newest forecast published on Thursday by the European Bank for Reconstruction and Development (EBRD).
US group PPG, a global leader in the sector of varnish and paint, with EUR 15 billion in sales last year, has bought the local firm Deutek Bucuresti, one of the biggest paint producers in the Romanian market, in a deal estimated at EUR 40-50 million, according to market sources.
Romania’s economy could climb from the 17th place in the European Union, where it is now, to the top 10 within the next 20 years if it takes the necessary measures for an annual growth of 4.5-5%, Eric Stab, President of the Foreign Investors Council (FIC), said yesterday.
Prista Oil Group has leased a storage space of 2,500 square meters within the project Equest Logistic Center held by the group East Balkan Properties, at kilometer 13 of the Bucharest – Pitesti highway, a transaction brokered by DTZ Echinox.
Romania currently has 73 industrial parks whereas Hungary, which is two and a half times smaller in size, had 220 industrial parks in 2013, said yesterday the deputy premier Costin Borc.
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