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Infrastructure: EBRD funds better road infrastructure in Alba Iulia
Tuesday, August 22, 2023
EBRD lends €15 million to rehabilitate Alba Iulia’s public transport infrastructure, in a co-financing arrangement with the European Union Loan to finance the refurbishment of more than 15 km of streets across the city With this project, Alba Iulia officially becomes an EBRD ...
Number of passengers at Bucharest airports exceed historical highs of 2019 in 7 months of 2023
Tuesday, August 22, 2023
Air traffic at Bucharest airports, as number of passengers, exceeded in the first 7 months that of the same period of 2019, when historical highs were recorded, and reached over 8.347 million passengers, says the Bucharest Airports National Company (CNAB).Between January and July 2023, 8,347,079 passengers were registered, 23 pct more than in the similar period of 2022, and 0.2 pct more than in 2019, when 8,333,725 passengers were registered.The ...
Cars: New car sales in Romania to end 2023 on 7pct-growth, but local production to be in the red
Tuesday, August 22, 2023
Sales of new passenger cars and light commercial vehicles in Romania will end 2023 on an estimated growth of 7% from 2022, but local car production will be in the red, the only decrease among five markets in Central Europe analysed by PwC in itsAutofacts report."We expect the resumption of light commercial vehicle production in 2023 to partially compensate for the rapid loss of car production. Both Ford and Renault-Nissan-Mitsubishi have plans until 2030 ...
Tourism : Economy minister signs approval for establishment of "Mamaia Nord Resort" DMO
Tuesday, August 22, 2023
Minister of Economy, Entrepreneurship and Tourism Stefan-Radu Oprea signed on Monday in Navodari the approval notice for the establishment of the "Mamaia Nord Resort" Destination Management Organization (DMO) and handed it to Navodari mayor Florin Chelaru, the Ministry said in a release."I want us to promote Romanian tourism and I believe that we can only succeed through a good cooperation between the state institutions, control ones ...
Bucharest hotel market maintains steady growth
Tuesday, August 22, 2023
The post-pandemic recovery of the hotel market in Bucharest is almost complete and demand continues to grow, with new projects slated for delivery across all market segments by the end of 2024. In Q1 2023 alone, occupancy in Bucharest hotels increased by 33 percent compared to the same period of last year and it remains about 5 percent below the 2019 level. The recovery has been strong enough to boost Bucharest to the second ...
Non-refundable financing worth 200,000 euros available for private spa and health resort investments
Tuesday, August 22, 2023
The Ministry of Economy, Entrepreneurship and Tourism will grant spa and health resort economic operators non-refundable financing as high as 200,000 euros for investments in the tourist, spa, cultural, sports and leisure infrastructure, the ministry said in a release.The de minimis scheme and its application procedure were published on August 17 in the Official Journal."Financial support from the state budget, in the amount of a maximum of 50 ...
National tourism development strategy put up for public consultation
Tuesday, August 22, 2023
The Ministry of Economy, Entrepreneurship and Tourism on Thursday put up for public consultation Romania's National Strategy for the Development of Tourism 2023 - 2035, the ministry said in a release.The document outlines a planned development of Romanian tourism by setting milestones aimed at preventing sectoral challenges and the efficient solving thereof. The 2023 - 2035 National Tourism Development Strategy is structured around a theory of change and ...
Real Estate: Romania’s economic growth boosts real estate investment sentiment
Tuesday, August 22, 2023
Romania’s economy continued to expand in Q1 2023 with a 2.8% growth, outpacing the EU average rate of 1%. Expectations are for the country to continue to post above-average economic gains going into 2024. Healthy GDP gains coupled with falling inflation and declining unemployment will help Romania attract more investment in the commercial and residential segments, from both existing players and new companies that are looking to enter the country, according to real ...
Real estate: Apartment prices go up again
Tuesday, August 15, 2023
Prices per square meter valid in July for sales of new apartments grew by 4% compared to the same period of 2022, while the price of old apartments went up by 5%, on the average. In July, Romanians visited 5% more sites with real estate announcements for apartments for sale than in 2022 and made 3% more contacts on that matter. Compared to the month of June, there were 9% more housing searches and ...
Report: More than 500,000 Sq. M of logistics and industrial spaces were transacted in H1 2023
Tuesday, August 15, 2023
Companies leased nearly 550,000 sq. m of logistics and industrial spaces in the first half of the year, with over one third of this volume being related to pre-lease agreements, mainly in projects set to be delivered in 2024. There has been a slowdown of the development pace, as the main players on the market adopted a more cautious approach in the current macroeconomic context, an approach which will put pressure on rental levels in the coming months, according to data ...
Office players going the extra mile to accommodate hybrid work
Tuesday, August 15, 2023
With the development pipeline for new office projects being rather limited going into 2024, developers are instead working on enhancing experiences for tenant companies in a bid to accommodate various work arrangements that focus on flexibility. Office owners say that hybrid work is becoming mainstream and that workspaces can be adapted to improve the productivity and well-being of employees. In Bucharest, the largest ...
Smaller cities remain on retail developers’ radar
Tuesday, August 15, 2023
Retail projects totaling around 340,000 sqm are currently under construction across Romania, most of them located outside Bucharest, in cities such as Craiova, Alba Iulia, Arad, or Sibiu. While footfall in shopping centers and retail parks has returned to pre-pandemic levels, development trends are seeing players exploring smaller-scale projects in secondary and tertiary cities. In 2023, the total new annual supply is due ...
Retail Continues to Attract Significant Investment
Tuesday, August 15, 2023
Close to EUR 39 billion has been invested in the 12 months ending with Q1 2023 in European retail real estate, according to a report by BNP Paribas Real Estate. A sector breakdown in six European countries (Germany, UK, France, Spain, Italy, and Poland) shows that shopping centres recorded a surge of 56 percent in new investment year-on-year, while high street projects saw a 38 percent gain in fresh investment. Meanwhile, retail warehousing had recorded a 30 percent ...
Agriculture: State aid: The Commission approves a EUR 200 million Romanian scheme to compensate forest owners for exploitation restrictions
Tuesday, August 15, 2023
The European Commission has approved, under EU State aid rules, a EUR 200 million (RON 998 million) Romanian scheme aimed at compensating forest owners for uncut timber due to mandatory environmental requirements. This scheme aims to halt and reverse biodiversity loss, improve ecosystem services and preserve habitats and ...
Infrastructure: The travel boom is lifting airlines’ business
Tuesday, August 15, 2023
by eToro analyst for Romania, Bogdan Maioreanu In the first half of this year, small and regional European airports reached passenger traffic levels exceeding the prepandemic figures. Meanwhile, on average, the large, top 5 European airports are still below their 2019 levels, but the busy Summer traffic is still ongoing and airlines are already posting good financial ...
HiSky Launches Early Booking Campaign: Discounted Flight Prices Starting October 1st
Tuesday, August 15, 2023
On Monday, August 7th, HiSky kicks off its most significant discount campaign of the year. The special fares apply to all scheduled flights operated by the airline, booked between August 7th and August 13th, for travel between October 1st, 2023, and March 31st, 2024. Thus, passengers choosing to book a HiSky flight for the winter season, during the 7-day Early Booking campaign, will benefit from fares ...
Wizz Air inagurates new route from London Luton to Brasov
Tuesday, August 15, 2023
Wizz Air has launched its first flight from London Luton to Brasov in Romania, https://airlinergs.com/ reads. The new route commenced from London Luton this August. Including this new route, Wizz Air now ...
Telecom .IT: Government decided to authorize the Chinese company Lenovo to participate in Romania’s 5G network
Tuesday, August 15, 2023
The Presidential Administration explains, in a response to G4Media.ro, why the Supreme Council of National Defense (CSAT) endorsed the Government’s decision to authorize the Chinese company Lenovo to participate in Romania’s 5G network: the organisation operates under Hong Kong laws, which are based on the rule of law and the independence of the judiciary, under the principle of „one country, two ...
Cars: New vehicle registrations up 22 pct January through July 2023 v 2022
Tuesday, August 15, 2023
New car registrations increased in Romania, in the first seven months of 2023, by 22.2 pct, compared to the same period of the previous year, while "green" cars registered a 36.5 pct jump and reached a market share of 22.9 pct, according to data published on Thursday by the Association of Automobile Manufacturers and Importers (APIA).The passenger car segment accounts for approximately 84 pct of the total market and recorded a volume of 13,431 units in July ...
Real Estate: Romania's stock of modern retail space hits 4.23 ml sqm
Tuesday, August 8, 2023
Romania's stock of modern retail space totals 4.23 million square meters, placing it as the third market in Central and Eastern Europe after Poland and the Czech Republic, shows data published on Monday by real estate consultant Cushman & Wakefield Echinox.According to the report, in the first half of the current year, developers handed over four modern retail projects accounting for a total area of 30,000 sqm in Giurgiu, Calarasi, Dej and ...