Comments on actual news
The first house worth 1 billion dollars!
“Are you writing for the whole world or what?” “Is it relevant to Romania?”. Wait a second. Let’s see the news firstly. A rich Indian tycoon has announced that he will be the first owner of a residence worth 1.000.000.000 dollars. The “house” will include almost a small town in it, but my point is different: Trust me, if a Romanian businessman can not invest so much in a house like this, watching these news, I bet that in the next 5 years (maximum) we will hear for the first Romanian who will buy / build a house worth over 100.000.000 euros. Remember me…
In the same time, you can check many rich people who don’t like to show off. Shouldn’t this be a lesson for some people here in this country, who exaggerates by showing off how much money they are able to spend per day or per hour?
http://www.huffingtonpost.com/2008/01/29/richest-man-in-india-buil_n_83910.html
http://www.huffingtonpost.com/2008/01/29/richest-man-in-india-buil_n_83910.html
Construction business: Better than ever!
Eurostat: Romania, European leader in constructions
published in issue 4124 page 7 at 2008-02-20
In December 2007, Romania recorded the highest annual pace growth in the field of construction works (30.9 per cent) in the European Union, followed at a distance by Poland (12.6 per cent) and Sweden (10.9 per cent), according to Eurostat statistics. Although Romania has kept EU leadership in the sector, Eurostat statistics suggest an evident decreasing trend over the last four months of 2007; the fast growth rate of 40 per cent reported in September 2007 was followed by 38.1 per cent in October 2007, 33.6 per cent in November 2007 and 30.9 per cent in December. Construction seasonally adjusted production fell by 0.6 per cent in the euro area (EA13) and by 0.7 per cent in the EU27 in December 2007, compared with the previous month. In the entire year 2007 compeered to the previous year, constructions sector output rose by 3.9 per cent in the EU27 and fell by 3.7 per cent in the euro area (EA13). In Romania’s case, the National Statistics Institute (INS) indicates that construction sector outputrose by 33.6 per cent in 2007, with the highest rate recorded in the non-residential buildings category.
by Nine oClock
Source:www.nineoclock.ro 20.02.2008
http://www.nineoclock.ro/index.php?page=detalii&categorie=business&id=20080220-511956
“The Show must go on”: After 10 new Malls, time for the Mega Mall…
Real4you builds EUR 400 million Mega mall on Electroaparataj site
Austrian developer Real4you will build a 100,000-sqm retail center on the premises of the former Electroaparataj site, after buying the property from its former owners, investment fund Broadhurst, towards the end of last year, Business Review has learned. 400 million of investment, Robert Kern, project manager for Romania with Real4you, told BR.
Broadhurst sold the seven-hectare plot last year for some EUR 60 million. Electroaparataj is located in the eastern part of Bucharest, in a residential area.
The Austrian developer, which controls the discount chain MiniMax in Romania, is now in the master-planning phase for its Mega Mall project in Bucharest, and will apply for the necessary permits in the next three months, says Kern. Construction works should start in July 2009, with the opening scheduled for end-2011 or the beginning of 2012.
Real4you is planning to expand the Mega mall chain to cities such as Focsani, Targu Mures, Pitesti and Satu Mare, all projects with 30,000 sqm of leasable space, on average. A 60,000 sqm Mega.Mall is also under development in Oradea. Construction works at the chain should start by the end of this year, says Kern.
The Austrian developer will also go for retail parks in Botosani, Braila, Ramnicu-Valcea and Giurgiu, with average leasable spaces between 15,000 and 30,000 sqm. The company has already bought plots for the Family Center retail parks in these cities.
Real4you controls 12 Minimax stores in Romania, with an additional four to open in March this year. “Another 16 pieces of land have been bought and are under development,” Kern told BR. Over the long term, the discounter intends to reach a 150- to 200-unit network.
Corina Saceanu
Source:www.business-review.ro 18-24.2008
http://www.business-review.ro/Blog/editor1/art/1863/Real4you-builds-EUR-400-million-Megamall-on-Electroaparataj-site.html