REAL ESTATES FORUM

More info at Romania Real Estate Group
http://groups.google.com/group/romaniarealestate?hl=en


Exponential growth of real estate projects in Romania

The capital city continues to attract the most numerous and valuable
projects, followed by the major cities from Transylvania, the West of
the country and Constanta.
published in issue 3807 page 9 at 2006-11-10
Bucharest - The investment plans of the developers of real estate
projects, be they commercial or residential, amount to several
billions of Euro in the coming years.


The market of the capital city remains undoubtedly the most
attractive
for all the investors, owing to the high purchasing power of the
population and their number, the analysis of the real estate company
Colliers estimating that in the next two years Bucharest will grow
from 150,000 sq m of commercial spaces to 400,000 sq m. A range of
malls has been inaugurated this year in almost all the major cities
of
the country, other projects in the same cities have already been
started, and the developers announce that they intend to turn also to
medium-size cities, of up to 70,000 population. 250,000 sq m of
commercial spaces will be offered to the market outside Bucharest in
the next two years.


Another eur 70 m mall to be ready in October 2008


In Bucharest, the real estate commercial market has registered
important moves this year, another three malls having to add soon on
the list of amusement possibilities from Bucharest, alongside the
three malls already functional. Thus, a mall will appear in the
complex Baneasa Investments, in the North of Bucharest, another one
in
Berceni neighbourhood, called Sun Plaza, and the most recent project,
called Liberty Centre, should be open to the public in October 2008,
in the area Calea Rahovei - Progresului, as an investment of EUR 70 M
of the North Irish company Mivan. Liberty Centre will have a surface
of 25,000 sq m, hosting over 100 shops, and 700 underground parking
lots. For Romania, Mivan has allotted EUR 750 M which will be
invested
not only in commercial projects, but also residential ones in the
next
three-four year, both in Bucharest and in throughout the country.


According to John Houghton, senior property executive with Mivan, the
construction of the commercial centres from Arad, Oradea and Brasov
will begin next spring, the North Irish company having also other
lands to develop similar projects in Targu Mures, Bacau and Ploiesti.
The list of acquisitions for the same purpose includes also Galati,
Iasi and Sibiu.


Constanta considered seriously by investors


Constanta County registers the second biggest growth and economic
development in Romania after Bucharest, therefore the real estate
projects have not ceased to assault Constanta. The company Neocity
has
already invested EUR 50 M in one of the biggest real estate projects
in Romania, City Park Mall from Constanta, the group announcing that
it will develop until 2009 real estate projects with a total value of
EUR 1 bln.


The real estate company Colliers has identified in its most recent
survey the excellent potential of the area, placing it on the same
level with Cluj-Napoca in view of a strong development of the real
estate commercial segment. Colliers representatives consider that the
big cities, beginning with the two already mentioned above will
attract three or four malls in the near future, some of the
commercial
centres even exceeding 50,000 sq m. Moreover, according to the
analysis, the developers show that they will turn towards secondary
towns with the concept of small commercial centres.


Over 600,000 sq m of class a office spaces in 2008


According to the same survey, Bucharest will offer in two years over
600,000 sq m, up 70 per cent over the level recorded in H1. In the
next year, according to Rompres, which quoted the real estate
consultancy company Eurisko, the specific market will rise to
1,200,000 sq m of office spaces.


Around eur 2 bln of residential projects in district 2


The residential real estate market records at this moment an
unprecedented boom, the investors coming either from the future
colleagues from the European Union, the Near or the Far East, or
from overseas, announcing almost every day the initiation of another
residential project. For example, District 2 alone from Bucharest is
estimated to host in the next three years blocks of flats, sky-
scrapers and residential complexes with over 20,000 flats, with a
value of over EUR 2 bln, according to Evenimentul Zilei.

More info at Romania Real Estate Group
http://groups.google.com/group/romaniarealestate?hl=en