July 14th 2017 - zf.ro

Danish group DSV, one of the largest European companies on the transport-logistics sector, has signed the EUR 50 million lease for 90,000 sqm of warehouses near Bucharest with CTP, a group specializing in the industrial space construction, development and rental.

This is the largest rental transaction on the Romanian logistics market, namely a 10-year contract in CTPark Bucharest West, a logistics park near Bucharest, with direct access to the A1 highway, reports local Ziarul Financiar.

DSV will lease some already existing 55,000 sqm and 35,000 sqm that will be built. The Danish group will use the rented spaces to provide transportation, logistics and distribution services for major brands. It has six centers in Romania.

The price per sqm ranges between EUR 2-5 per month in the logistics and industrial sector in Romania.

July 13 2017 - zf.ro

Globalworth Real Estate Investments, a real estate investment firm focusing on the Romanian market, has acquired a plot of 57,000 sqm that was previously owned by Coca-Cola HBC Romania and will develop the new headquarters for the French car producer Renault in Bucharest.

Globalworth, a company indirectly controlled by Greek investor Ioannis Papalekas, will develop the project via the firm Elgan Offices, a company it owns together with Elgan Group, controlled by Israeli investor Simon Roth. Roth won the contract last year, after competing with Romanian investor Liviu Tudor, whose office project West Gate currently hosts most of Renault’s operations in Bucharest.

The new headquarters, called Renault Bucharest Connected, will host more than 3,000 of the group’s employees in Romania. The Renault group will occupy the entire 47,000 sqm offices for at least 11 years, this being the largest leasing transaction ever recorded in the Bucharest office market. The project should be completed in the first quarter of 2019.

The new Renault Group headquarters will be in the Western Bucharest, near the Preciziei metro station. This marks Globalworth’s first investment in this part of Bucharest. It is also the second lease project concluded between Globalworth and Groupe Renault Romania, after the acquisition of Dacia’s spare parts warehouse, near the Mioveni plant.

Globalworth is one of the biggest real estate investors in Romania, with a portfolio of EUR 983 million at the end of March 2017.

Renault, one of the biggest car makers in the world, has 16,700 employees in Romania. It owns the Dacia car factory, the country’s biggest industrial facility

 

 

IRI Investments, which last year bought more than 33,000 hectares of forest in Romania on behalf of the Swedish IKEA received in June a capital injection of nearly 40 million euros from shareholders registered in Netherlands, according to data published in the Official Gazette. Thus, the share capital of the company reaches 171 million euros.

Frederik de Jong, president of the company's board of IRI Investments LLC, said last year that the IKEA Group has decided to invest in forestry operations in order to facilitate access to sustainably managed wood raw material.

He also stressed that the Swedish group will continue to invest in the future in the woods. Thus, the capital increase in June could be closely related to the purchase of forests.

Last year, the IKEA Group has become the largest owner of forests in Romania, buying 33,600 hectares of "green gold" from Greengold, which is one of the companies which the American university Harvard conducts on the market in Romania.

The International Monetary Fund (IMF) revised upwards to 5 percent the estimations on the Romanian economy evolution this year, from 4.2 percent as forecast in April, according to the newest "World Economic Outlook," which the IMF released on Tuesday.

According to the IMF projections, Romania will register this year the highest economic growth in Europe, followed by Ireland (4.9 percent). Europe overall will record a 2 percent economic growth and Emerging Europe, a region including Romania, will register a 3.3 percent advance of the GDP.

The IMF warns that the economic growth peak registered this year in Romania will be followed by a slowdown to 3.8 percent, slightly over the 3.6 percent advance forecast in April, however even so Romania will register next year the highest economic growth pace in Europe. For 2018, the IMF forecasts that Romania's economy will register a 3.3 percent growth.

In respect to the developments in consumer prices in Romania this year, the IMF estimations have been revised from minus 0.4 percent in April to minus 1.5 percent, therefore Romania and Bulgaria will be covering the top positions in Europe in respect to negative average annual inflation. For 2017, the IMF forecasts that the consumer price index in Romania will turn positive, registering a 1.7 percent increase, with another 2.5 percent increase expected in 2018.

Moreover, the IMF also revised upwards the forecasts on the current account deficit registered by Romania in 2016, from minus 1.7 percent in April to minus 2 percent. The current account deficit will get steeper in 2017, when it is expected to reach minus 2.8 percent, from minus 2.5 percent as estimated in April, for it to exceed the 3 percent of the GDP threshold in 2018, reaching minus 3.2 percent.

A good piece of news is the decline in the unemployment rate, which according to the IMF would drop from 6.8 percent in 2015 to 6.4 percent in 2016, and then reach 6.2 percent in 2017.

On a global level, the IMF has kept its forecasts on the world economy growth in 2016 and 2017 at 3.1 percent and 3.4 percent, respectively, same as estimated in the previous report. AGERPRES (RO — author: Constantin Balaban, editor: Andreea Marinescu; EN — editor: Adina Panaitescu)

Source: http://www.agerpres.ro/english/2016/10/04/imf-romania-to-have-highest-economic-growth-in-europe-in-2016-and-2017-17-30-16

European Bank for Reconstruction and Development (EBRD) improved its economic growth forecast for Romania in 2016 from 3.7% to 4%, according to new estimates announced today at the Annual Meeting held in London.

For 2017, the EBRD predicts GDP growth of 3.5% in Romania.

"In 2016 and 2017, strong domestic demand will continue to support economic growth. Consumption will be pushed up by cutting the VAT rate from 24% to 20% in January 2016, the minimum salary increase by 19% in May this year, for the public sector, improving economic sentiment and an environment of low inflation "says EBRD.

Other international institutions have improved estimates of Romania's economic growth.

The IMF announced this spring a GDP forecast of 4.2% this year, as well as the European Commission, while the World Bank predicts a GDP advance of 4%.

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