| 4 July 2006 |
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Real Estate News
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GTC Buys Land
In Bucharest
Real estate company Globe Trade Center
Real Estate Investments Romania (GTC) acquired
a land north of Bucharest for 10.24 million euros.
The land is located on Poligrafiei Boulevard and
belonged to the company Mablethompe Investments
Limited.
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| 11 July 2006 |
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Real Estate News
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Offices
And Hotels Boost Lafarge Gips Turnover
Lafarge
Arcom Gips, part of the French group Lafarge,
this year expects turnover to increase by 15%
year-on-year, to 17 million euros. "For this year,
we forecast a 15% increase in turnover because
of the development of the office buildings market,
hotels and the residential market," Sebastian
Popescu, general manager of Lafarge Arcom Gips,
told ZF. More
information here >>
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Cotroceni
Park To Invest 165m Euros
Africa-Israel Europe and New Century Holding
(NCH) will invest some 165 million euros in a
real estate project, developed on a 120,000 square
metre plot of land in the Timisoara Blvd area
in Bucharest, where they will build a mall and
five office buildings. More
information here >>
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Economic News
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Industrial
Output, At A Record High In May
Industrial production soared by 15.7% in May
2006 compared with the same period of last year
and by 5.9% in the first five months of this year,
marking a record high for the latest period. More
information here >>
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| 14 July 2006 |
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Real Estate News
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Raiffeisen
May Fund EUR 350 M Real Estate Projects
In 2006 Raiffeisen Bank may finance by the end
of the year real estate projects amounting to
a total EUR 350 M. The banking institution has
so far granted real estate credits of EUR 80 M,
senior deputy chairman Marinel Burduja announced
yesterday. More
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| 17 July 2006 |
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Real Estate News
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Spain And Portugal Compete Over Bucharest's
Downtown
Bucharest's historical center, currently in a
ramshackle condition, might be reconstructed be
a foreign company as two construction groups from
Spain and Portugal yesterday submitted their offers
for the rehabilitation works. Hence, the two companies
will participate in the tender that is to be organized
by City Hall in September.
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| 21 July 2006 |
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Real Estate News
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Carrefour
Expands Its Romanian Empire
Europe’s largest retailer Carrefour has announced
plans to invest €82m in Romania, following the
purchase of key land sites in the country and
the recent acquisition of the Hyperlo chain. More
from FoodAndDrinkEurope.com
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| 23 July 2006 |
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Real Estate News
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Moritz
Group Develops 60m-euro Project
The Irish Moritz Holdings, which discreetly entered
the market at the end of last year, is developing
a real estate project put at over 60 million euros
in the Piata Victoriei area in Bucharest. Moritz
Group is thus joining the other Irish players
already on the market, such as Ballymore and RI
Investment Group. More
information here >>
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ING Real Estate Opens Romanian Branch
The ING Group real estate investment division,
ING Real Estate, will open a branch in Romania,
which will become operational at the end of the
year, announced ING Bank Romania general director
Misu Negritoiu.
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| 24 July 2006 |
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Economic News
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FDI Estimated To Reach
EUR 7.5 Bn In '06
Romania could receive foreign direct investments
worth EUR 7.5 bn this year in greenfield projects
and big privatisations, according to a survey
conducted by the European banking group Unicredit.
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| 24 July 2006 |
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Real Estate News
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Tiriac
And Riofisa Bring 10m Euros For New Project
Goldale Limited, a company of the Tiriac group
and the Spanish developer of real estate projects
Riofisa Internacional have increased the share
capital of Goldale Real Estate by almost 10 million
euros, according to data from the Official Gazette.
More
information here >>
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| 27 July 2006 |
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Real Estate News
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British
Fund Buys Office Building For 40 Million Euros
British real estate investment fund European
Convergence Property Company PLL, whose capitalisation
stands at about 7 billion euros, yesterday signed
the acquisition contract for the Millennium Business
Center office building, the future office of the
World Bank in Bucharest. More
information here >>
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Neocity Develops Upscale Residential Project
In Bucharest
Neocity Group will invest 300 million euros in
a residential project located in the east side
of Bucharest. The project is called NeoPeninsula
and will be located near the Colentina River and
Fundeni Lake. The project will comprise 26 blocks
of flats 14 to 24 stories high and 2,700 living
spaces each with one, two, three, or four rooms.
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European
Conergence Property Buys Bucharest Office Building
For 40 Mln Eur
European Convergence Property Co PLC said it
bought the Millenium Business Centre office building
located in Central Bucharest and estimates the
final price to be 40 mln eur, dependant upon full
leasing. More
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| 31 July 2006 |
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Real Estate News
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Engel To Build $500m
Romanian Residential Project
Engel Group has signed an agreement in principle
to build a thousands of units in a residential
project and a shopping center in central Romania.
The $500 million project is a combination deal
with the landowners.
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