DOCSLIB.ORG

Pre-Feasibility Study for Using Municipal Property for Business

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Pre-Feasibility Study for Using Municipal Property for Business PROMISE: Municipal PROperty Management In South-Eastern Cities South East Europe Work Package 6: Developing Projects on Municipal Real Property Management Activity 6.3: Develop a pre-feasibility study of a classified property for business use purpose Deliverable 6.3 Pre-Feasibility Study of Bucharest former City Hall building- business purpose Version 2.0 ● April 10, 2012 The Pre-feasibility Study of the Bucharest City Hall building for business purpose is a deliverable corresponding to Work package 6 of the PROMISE project and presents the results of investigating the possibilities to ensure an efficient use of the former City Hall building based on an effective management of this property. © AESB, 2011. All rights reserved.Page 2 of 118 Pre-Feasibility Study of Bucharest former City Hall Building – business purpose Academy of Economic Studies of Bucharest Piata Romana 6, sector 1 RO-010374 Bucharest, ROMANIA Tel: + 4/021-319-19-01 Fax: +4/021-319-18-99 Last edited: April 10, 2012 © Academy of Economic Studies of Bucharest, 2011. All rights reserved. No part of this publication may be reproduced, transmitted, transcribed, stored in a retrieval system, or translated into any language, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior written permission from Academy of Economic Studies of Bucharest. All copyright, shall remain the sole and exclusive property of Academy of Economic Studies of Bucharest However, no responsibility is assumed by Academy of Economic Studies of Bucharest for its use, or for any infringements of patents or other rights of third parties resulting from its use. All other trademarks are the property of their respective owners Pre-Feasibility Study of Bucharest Former City Hall Building – Business Purpose, PROMISE Project Version 2.0 Pre-Feasibility Study of Bucharest former City Hall building- business purpose Academy of Economic Studies of Bucharest, Romania PROMISE Project Version: 2.0 Date Created: April 10, 2012 Project Coordinator: Prof. George Petrakos Email: [email protected] Telephone: +302421074468 Project Financial Manager: Dr. Ageliki Anagnostou Email: [email protected] Telephone: +302421074596 © AESB. All rights reserved. Page 4 of 118 Pre-Feasibility Study of Bucharest Former City Hall Building – Business Purpose, PROMISE Project Version 2.0 Table of Contents 1. Executive Summary _______________________________________________________ 8 2. Purpose and Structure of the Pre-Feasibility Study ______________________________ 9 3. Pre-Feasibility Study ______________________________________________________ 10 4. REFERENCES ___________________________________________________________ 11166 Page 5 of 118 Pre-Feasibility Study of Bucharest Former City Hall Building – Business Purpose, PROMISE Project Version 2.0 Document History Revision History Revision Number Revision Date Summary of Changes Author Version 1.0 December 5, 2011 Document created Alina (Iosif) Balalia, Raluca Petrescu, Daniela Constantin, Ion Gh. Rosca, Dorel Ailenei, Zizi Goschin Version 1.1 January 31, 2012 Applied updates submitted Alina (Iosif) Balalia, Raluca by Daniela Constantin Petrescu, Daniela Constantin, Constantin Mitrut, Marius Profiroiu, Liviu Vlad Version 2.0 April 10,2012 Document Finalized Alina (Iosif) Balalia, Raluca Petrescu, Daniela Constantin, Ion Gh. Rosca, Dorel Ailenei, Radu Ioan Reference Documents Please see the following documents for more information: Document Name Version Author IFRS 13 Fair value measurement, 21 st century real 2011 Ernst & Young estate values “Implications for the real estate and construction industries” Romanian Market Real Estate Review, Bucharest 2010 Colliers International Bucharest City Reports 2011 Jones Lang Lasalle Development and conversion on hotel segment 2011 Micut C. (pdf presentation), Sixth edition of the HRB expert conference - Hospitality Forum ( in Romanian: Dezvoltarea si conversia pe segmentul hotelier) European Green City Index – Assessing the 2009 Siemens environmental impact of Europe’s major cities © AESB. All rights reserved. Page 6 of 118 Pre-Feasibility Study of Bucharest Former City Hall Building – Business Purpose, PROMISE Project Version 2.0 Distribution List This document has been distributed to: Name Position Company/Institution SEE JOINT TECHNICAL SECRETARIAT SEE JTS SEE JTS Greek Unit of Audit and Control Single Paying Ministry of Finance and Authority Economy LP. University of Thessaly, DPRD, Greece Project Lead University of Thessaly Partner PP1. Municipality of Athens Development Project partner Municipality of Athens Agency, S.A., Greece PP2. Academy of Economic Studies of Project partner Academy of Economic Studies of Bucharest, Romania Bucharest PP3. Municipality of Bucharest, Romania Project partner Municipality of Bucharest PP4. Province of Rimini, Italy Project partner Province of Rimini PP5. University of National and World Economy Project partner University of National and World Sofia, Bulgaria Economy Sofia PP6. Institute of Technologies and Development Project partner Institute of Technologies and Foundation, Bulgaria Development Foundation PP7. Sofia Municipality, Bulgaria Project partner Sofia Municipality PP8. Trikala Municipal Enterprise for Social Project partner Trikala Municipal Enterprise for Development , DEKA, Greece Social Development IPA PP1. City of Zagreb, Croatia Project partner City of Zagreb 10% ERDF PP1.University of Tirana, Albania Project partner University of Tirana 10% ERDF PP2. Municipality of Tirana, Albania Project partner Municipality of Tirana 10% ERDF PP3. Municipality of Cajetina, Serbia Project partner Municipality of Cajetina Page 7 of 118 Pre-Feasibility Study of Bucharest Former City Hall Building – Business Purpose, PROMISE Project Version 2.0 Executive Summary The Pre-Feasibility Study of Bucharest former City Hall building describes the analysis undertaken in order to identify the solutions for the efficient use of this building for business purposes, based on its effective management on behalf of municipality. It is constructed within the Activity 6 – Pilot Actions, in implementing the project: “PROMISE: Municipal PROperty Management In South-Eastern Cities”. The PROMISE project has been approved by the Community Initiative: South East Europe: Transnational Cooperation Programme, and it will be implemented during the period: March 2009 - May 2012. The current document has been commissioned by the Academy of Economic Studies of Bucharest and it serves as deliverable of the Pilot Action 6.3 - Develop a pre-feasibility study of a classified property for business use purpose. This document has been designed for delivering such a study, which focuses on a real property belonging to Bucharest Municipality with the business purpose in view. The study has analyzed three different scenarios for the efficient use of the former Bucharest City Hall building for business purpose. These scenarios have taken into consideration the authorities intentions on the use of the building and the purposes of the historical buildings within the Old City Centre area. In addition, a high importance was allocated to Zonal Urban Plan that specifies certain rules that have to be obeyed by the management of an historical building. For each scenario both a market analysis and a financial analysis are conducted. In order to obtain a complex and well documented pre –feasibility study regarding Bucharest City Hall building (BCHb) three scenarios have been constructed, as follows: the first is a mix between offices at the upper levels and retail space at the ground floor of the BCHb; the second is composed of offices at the upper levels and museum at the ground floor; and the third scenario is projected for hotel destination. Bucharest, in general, and the Old City Center, in particular, has enough potential for new office and retail lettable spaces and the area is considered an attractive variant for tenants. Also, hotel could be an attractive variant for investors as far as they are aware of the necessary level of investment and the large payback period. Finally, the financial analysis indicated that the best scenario that could be adopted for the BCHb for business purpose is the mix of offices and retail (first scenario). © AESB. All rights reserved. Page 8 of 118 Pre-Feasibility Study of Bucharest Former City Hall Building – Business Purpose, PROMISE Project Version 2.0 Purpose and Structure of the Pre-Feasibility Study This study aims to expose and analyze three main hypotheses regarding the efficient use of the former City Hall building. In this final version of the study a classical model of development appraisal is developed in order to expose the scenario that leads to the best use of the former Bucharest City Hall building. With this purpose in view the study has been structured into three main parts, namely the initiation phase, the pre-feasibility and the final report. Part 1 of this pre-feasibility study starts with the description of some general aspects regarding Bucharest and a consistent exposure on the Bucharest City Hall building site, ending with a SWOT analysis. Moreover, the three scenarios are expressed and the regulatory framework of the BCHb is presented. Part 2 is the most representative for the pre-feasibility study as it contains two major and representative directs of analysis, namely the market analysis and the financial analysis. Well documented market analysis was conducted for each scenario. Starting with the national perspective on each market and
Load more

Recommended publications
  • Romania Real Estate Market Report, March 2017
    ROMANIA An annual publication of REAL ESTATE MARKET REPORT real estate services since 1993 MARCH 2017 ROMANIA REAL-ESTATE MARKET REPORT ABOUT US BUCHAREST HEADQUARTERS, BECTRO CENTER ACTIV Property Services is one of the main real-estate consultants in Romania, providing a complete range of real estate services. We operate at national level since 1993 and have over 24 years of experience on the local market during when we have kept our senior staff. During the period of 1995-2016 we were the local partner of global adviser Cushman&Wakefield. We have our headquarters in Bucharest and operate two regional offices in Timisoara and Cluj-Napoca. Our office includes 30 professionals in dedicated teams offering services in all the main sectors of the real estate market, including: RETAIL AGENCY CAPITAL MARKETS Our in-depth knowledge of the local market enables us to advise We have been involved in large investment transactions, offering landlords, developers and retailers with full-range services that sales consultancy, acquisition consultancy, due diligence and include research and market analysis, development consultancy, brokerage for major investors / vendors. We have been involved in letting / re-letting, asset management etc. transactions and marketing with Sonae Sierra, Miller Development, North Asset Management, Redevco, Pradera, We have built a strong expertise in all formats, varying from Tishman, ING RE and Belgium group Belrom. dominant schemes (AFI Cotroceni, ParkLake) to regional schemes (Sibiu Shopping City) and outlets (Fashion House), as well as in tenant representation (Sport Vision, Pupa, Guess, Mizar etc.). INDUSTRIAL Our industrial agency team provides leasing and consultancy Our high street department has provided 1,600 re-negotiation services for developers and industrial occupiers based on or in- services for banks/others.
    [Show full text]
  • Evidenta Autorizatii
    EVIDENŢA AUTORIZAŢIILOR DE PE RAZA MUNICIPIULUI BUCUREŞTI - JUDEȚULUI ILFOV EMISE ÎN PERIOADA 2006 - iunie 2020 Număr Data elib. Denumirea societăţii Adresa Domeniu de activitate Act normativ autorizaţie autorizaţiei CLĂDIRI ÎNALTE ŞI FOARTE ÎNALTE 74155 2/7/2006 COMPLEXUL Şos. Nicolae Titulescu nr. 4-8, IMOBIL 3S + P + 8E - AMERICA HOUSE - birouri, comerţ, H.G.R. 448/2002 - art. MULTIFUNCŢIONAL sector 1 Sd = 47204 m2 1/1, 1/3, 1/9 VICTORIA - S.R.L. 2 74387 2/24/2006 FLOREASCA TOWER - Calea Floreasca nr. 175, sector IMOBIL 2S + P + 13E - Birouri, Sd = 12069,64 m H.G.R. 448/2002 - art. S.R.L. 1 1/1, 1/3, 1/9 2 74432 7/6/2006 BUCHAREST CORPORATE Str. Polizu nr. 58-60, sector 1 IMOBIL 3S + P + 14E - birouri - Sd = 18284,37 m H.G.R. 448/2002 - art. CENTER (B.C.C.) - S.R.L. 1/1, 1/3, 1/9 2 817137 4/12/2007 MILLENNIUM ESTATE - Str. Armand Călinescu nr. 2-4, IMOBIL 4S + P + 18E + Eth - birouri, Sd = 25360 m H.G.R. 1739/2006 - S.R.L. sector 2 art. 1/a 2 235497 4/14/2008 IMMOROM DELTA - S.R.L. Str. Dr. Iacob Felix nr. 63-69, IMOBIL 3S + P + 15E - BIROURI, Sd = 13921 m H.G.R. 1739/2006 - sector 1 art. 1/a, 1/k 2 237037 2/23/2009 SEMA PARC - S.A. Splaiul Independenţei nr. 319, IMOBIL P + 8E ÷ 14E + Eth – BIROURI (Sd = 32540 m ) H.G.R. 1739/2006 - sector 6 art. 1/a, 1/k 2 236872 5/21/2009 PARC HOTELS - S.A.
    [Show full text]
  • Booking Bucharest the City Guide RO
    www.bookingbucharest.ro 1 Cuprins: 1.PREZENTARE GENERALĂ MUNICIPIUL BUCUREŞTI .........................................................pag 3 2.MOMENTE ISTORICE IMPORTANTE ..........................................................................................pag 8 3.ECONOMIE .............................................................................................................................................pag 17 4.PRIMA DATĂ ÎN BUCUREŞTI .......................................................................................................pag 20 4.1Cum ajungem?......................................................................................................................pag 20 4.2Transportul în Bucureşti.................................................................................................pag 20 4.3Unde ne cazăm?...................................................................................................................pag 22 4.4Ce manacam?........................................................................................................................pag 23 5.SFATURI DE CALATORIE ................................................................................................. pag 24 6.TRASEE IN BUCUREŞTI ...................................................................................................................pag 26 6.1Centrul istoric-Principala atractie a Bucurestiului..............................................pag 27 6.2Pe Calea Victoriei in Micul Paris...................................................................................pag
    [Show full text]
  • Component 1. Elaboration of Bucharest's Iuds, Capital
    ROMANIA Reimbursable Advisory Services Agreement on the Bucharest Urban Development Program (P169577) COMPONENT 1. ELABORATION OF BUCHAREST’S IUDS, CAPITAL INVESTMENT PLANNING AND MANAGEMENT Output 3. Urban context and identification of key local issues and needs, and visions and objectives of IUDS and Identification of a long list of projects. Chapter 3. Spatial and Functional Profile March 2021 DISCLAIMER This report is a product of the International Bank for Reconstruction and Development/the World Bank. The findings, interpretations and conclusions expressed in this paper do not necessarily reflect the views of the Executive Directors of the World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. This report does not necessarily represent the position of the European Union or the Romanian Government. COPYRIGHT STATEMENT The material in this publication is copyrighted. Copying and/or transmitting portions of this work without permission may be a violation of applicable laws. For permission to photocopy or reprint any part of this work, please send a request with the complete information to either: (i) the Municipality of Bucharest (Bd. Regina Elisabeta 47, Bucharest, Romania); or (ii) the World Bank Group Romania (Str. Vasile Lascăr 31, et. 6, Sector 2, Bucharest, Romania). This report was delivered in March 2021 under the Reimbursable Advisory Services Agreement on the Bucharest Urban Development Program, concluded between the Municipality of Bucharest and the
    [Show full text]
  • Romania Real-Estate Market Re
    Activ ROMANIA REAL ESTATE MARKET REPORT SPRING 2018 ABOUT US Activ Property Services is one of the main real-estate consultants BUCHAREST HEADQUARTERS, 34 CAROL DAVILA in Romania. As of 1st of January 2018, we are the Romanian affiliated office of GVA Worldwide, operating under GVA Activ brand. We have been operating at national level since 1993 and we were the local partner of Cushman & Wakefield for 20 years, from 1996 to 2016. Our headquarters is in Bucharest and we also operate two regional offices in Timisoara (since 2000) and Cluj-Napoca (since 2013). Our team includes 35 professionals providing a full range of commercial real estate services such as: RETAIL AGENCY Our in-depth local knowledge enables us to advise landlords and retailers with a full-range of services (market analysis, INDUSTRIAL development consultancy, letting/re-letting, asset Our industrial team provides leasing and consultancy services for management). We have provided services for all type of schemes developers and occupiers based on our in-depth knowledge of the (dominant and regional shopping centres, retail parks, outlets) main industrial & logistic hubs. Recent activity has been focused and tenants. Our high street department has provided over 1,600 on attracting new foreign investments, including TT Electronics, re-negotiation services. Our recent success is an exclusive AB Electronics, BOA, Eberspacher,Litens and SHW . mandate for Vodafone (75 new units). CAPITAL MARKETS OFFICE AGENCY We have been involved in large investment transactions, offering Our office team has a long track record, providing tenant- consultancy, due diligence and brokerage for major investors / representation, landlord-rep, consultancy, lease re-negociation, vendors.
    [Show full text]
  • Globalworthtm
    globalworthTM Globalworth Real Estate Investments Limited ADMISSION DOCUMENT Placing of 7,618,703 Ordinary Shares and Founder Admission Subscription of 3,000,000 Ordinary Shares at Euro 5.00 per Ordinary Share and Admission to trading on AIM 228884 Bucharest Cover Spread v2.indd 1-3 24/07/2013 23:08 BOC Office Building City Offices Bucharest One Tower Center International BOB Office Building Upground Towers 228884 Bucharest Cover Spread v2.indd 4-6 24/07/2013 23:08 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document and/or the action you should take, you should immediately consult your stockbroker, bank manager, solicitor, accountant, legal or professional adviser or other independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended, “FSMA”) if you are in the United Kingdom or, if not, you should immediately consult another appropriately authorised independent financial adviser. This document, which comprises an AIM admission document, has been drawn up in accordance with the AIM Rules for Companies. This document does not contain an offer of transferable securities to the public within the meaning of Section 85 of FSMA and is not a Prospectus for the purposes of the Prospectus Rules made under section 73A of FSMA. Accordingly, this document has not been prepared in accordance with the Prospectus Rules, nor has it been approved by the Financial Conduct Authority (the “FCA”) pursuant to Section 85 of FSMA and a copy has not been delivered to the FCA under regulation 3.2 of the Prospectus Rules.
    [Show full text]
  • Romania Marketbeat
    MARKETBEAT ROMANIA REAL ESTATE MARKET REPORT SPRING 2016 A Cushman & Wakefield | ACTIV Property Services Publication SPRING 2016 Cushman & Wakefield / ACTIV Property Services CUSHMAN & WAKEFIELD BUCHAREST HEADQUARTERS, BECTRO CENTER SERVICES IN ROMANIA ACTIV Property Services is the Alliance Partner of Cushman & Wakefield in Romania and the Republic of Moldova. Cushman & Wakefield is one of the world’s largest real estate services firms, with a combined total of $5 billion in revenue and over 43,000 employees.The company operates today in more than 60 countries. ACTIV Property Services has over 23 years of experience on the local market and have operated with Cushman &Wakefield for over 21 years.We have our headquarters in Bucharest and operate two regional offices inTimisoara and Cluj-Napoca,providing a complete range of real estate services,including: CAPITAL MARKETS The local capital markets department has been involved in several RETAIL AGENCY large investment transactions in Romania, offering professional consultancy for major companies,including the development of real Our in-depth knowledge of the local market, combined with estate premises, sales consultancy, acquisition consultancy, international experience, enables us to advise retailers on their management of the "Due Diligence" process and negotiation of all expansion programs,as well as landlords and developers looking to legal documents relating to the sale and acquisition process. attract high performing retail groups. We are involved in all types of retail properties for with we provide INDUSTRIAL research and development consultancy, letting services, asset Our industrial agency team provides leasing and consultancy management and international tenant representation. services for developers and industrial occupiers.
    [Show full text]
  • Ilfov Emise În Perioada 2006 - 13.10.2017
    EVIDENŢA AUTORIZAŢIILOR DE PE RAZA MUNICIPIULUI BUCUREŞTI - ILFOV EMISE ÎN PERIOADA 2006 - 13.10.2017 Număr Data elib. Nr. crt Denumirea societăţii Adresa Domeniu de activitate Act normativ autorizaţie autorizaţiei CLĂDIRI ÎNALTE ŞI FOARTE ÎNALTE COMPLEXUL H.G.R. Şos. Nicolae Titulescu nr. 4-8, IMOBIL 3S + P + 8E - AMERICA HOUSE - birouri, comerţ, Sd = 1 74155 2/7/2006 MULTIFUNCŢIONAL 448/2002 - art. sector 1 47204 m2 VICTORIA - S.R.L. 1/1, 1/3, 1/9 H.G.R. 2 2 74387 2/24/2006 FLOREASCA TOWER - S.R.L. Calea Floreasca nr. 175, sector 1 IMOBIL 2S + P + 13E - Birouri, Sd = 12069,64 m 448/2002 - art. 1/1, 1/3, 1/9 H.G.R. BUCHAREST CORPORATE 3 74432 7/6/2006 Str. Polizu nr. 58-60, sector 1 IMOBIL 3S + P + 14E - birouri - S = 18284,37 m2 448/2002 - art. CENTER (B.C.C.) - S.R.L. d 1/1, 1/3, 1/9 H.G.R. MILLENNIUM ESTATE - Str. Armand Călinescu nr. 2-4, 4 817137 4/12/2007 IMOBIL 4S + P + 18E + Eth - birouri, S = 25360 m2 1739/2006 - S.R.L. sector 2 d art. 1/a H.G.R. Prelungirea Ghencea nr. 94-100, IMOBIL CORP A - TRONSON A3 Pacces locatari + 14E + Eth - 5 190561 8/11/2009 CAN SERV - S.R.L. 1739/2006 - sector 6 locuinţe colective, S = 9246,30 m2 d art. 1/a H.G.R. 2 6 236872 5/21/2009 PARC HOTELS - S.A. B-dul Poligrafiei nr. 3-5, sector 1 IMOBIL 2S + P + 11E + Eth - hotel, Sd = 12940 m 1739/2006 - art.
    [Show full text]
  • The Construction Sector in Romania
    THE CONSTRUCTION SECTOR IN ROMANIA THE CONSTRUCTION SECTOR IN ROMANIA September 2013 A study by Nicoleta Chirila Flanders Investment & Trade Intr. Bitolia 62, sector 1, Bucuresti +40 21 231 56 07 [email protected] www.flandersinvestmentandtrade.com TABLE OF CONTENTS 1. General economic overview .................................................................................................................... 3 1.1 GDP development ............................................................................................................................... 3 1.2 Employment & earnings ..................................................................................................................... 5 1.3 Inflation & fiscal situation ................................................................................................................... 7 1.4 Macro indicators ................................................................................................................................. 8 2. Construction sector (2007 – present) ....................................................................................................... 9 2.1 Rule system ......................................................................................................................................... 9 2.2. Leading companies ........................................................................................................................... 13 2.3. Construction work evolution ...........................................................................................................
    [Show full text]
  • [email protected] CITIºI ZIARUL LA: 2 PRESTÅRI SERVICII 4
    19.497 anun¡uri Constitutia României: Cenzura de orice fel este interzisa 17. Contabilitate, expertiza judiciara, 7. Acoperis tigla metalica 0,5/ 6 euro/mp, 22. Alpinism utilitar, servicii de calitate, 37. Amenajari interioare in Bucuresti si in 57. Constructii case la rosu sau la cheie 74. Excutam case vile, renovari aparta- eval ANEVAR firma expertiza contabila, accesorii, jgheaburi, burlane, parazapezi, deverse lucrari la inaltime. Reparatii, ter- tara societate comerciala executa toate din Porotherm sau din lemn, la cele mai mente, placari case, executam foisoare autorizata CECCAR Bucuresti, servicii deviz si transoport gratuit. Rog seriozitate. moizolatii, vopsitorii, montaje, demontaje, tipurile de lucrari de amenajare interioara si bune preturi din Romania. Constructii terase, garduri, turnari alei, amenajari contabile pt firme mari si mici, servicii de (0762.435.037 publicitate, decoratiuni, spalari suprafete exterioara (montaj gresie/ faianta/ parchet, case, amenajari, avem servicii de cea mai spatii verzi, (0735.040.647 evaluare ANEVAR. Firme nou infiintate, vitrate. Deplasare in tara, telefonic si placari rigips, tencuieli, turnat sapa, etc.). buna calitate, la un pret mic/ Folosim cele consultanta gratuita primele 3 luni. Pret de 8. Acoperis, tamplarie PVC Rehau, Sala- whatssap. (0768.256.759 Oferim garantie lucrarilor 10 L; mai noi tehnologii in domeniul constructi- 75. Execut glet, parchet laminat, izolatii la 100 Lei 100 L; (0745.358.263/ mander- Germania, Aluplast si Ramplast [email protected] (0722.720.782 [email protected] ilor: echipe de muncitori calificati cu o polistiren, faianta, zugraveli, tapet, gresie, 0746.125.266 [email protected] de la 30 euro/mp. Rulouri exterioare din bogata experienta in domeniu pentru a la un pret acesibil, rog seriozitate, aluminiu de la 38 euro/mp, tamplarie alu- 23.
    [Show full text]
  • Real Estate Market Study 2015
    2015 Real Estate Market Study Studiu de Piata Imobiliara Content / Cuprins NAI Romania Real Estate Market Study Studiu de Piata Imobiliara 2015 1 Economic overview Mediul economic 2 Office market Piata spatiilor de birouri 3 Industrial market Piata spatiilor industriale 4 Retail market Piata spatiilor comerciale 5 Residential market Piata spatiilor rezidentiale Global economic overview The political and economic context of the year 2016 is a very complicated one. From an international perspective, the main threat is represented by the attacks made by the Islamic State which put a question mark on the security in the European Union. Besides the military actions put in place by France and The Romanian economy seems to have escaped from the other member states and the supplementary public effects of the recession registered between 2008 and 2010, expenses directed to strengthen the internal security, the continued in the case of European Union members with a attacks brought increased uncertainty in the economic period of instability and pessimism generated by the public environment, once the Islamic State has been perceived as debt crisis encountered by some of them. The European a global threat. financial problems did not come to an end, the economic Another important challenge in the international economy analysts still consider that the economic growth registered by is the important flow of Syrian migrants arrived in Europe the euro zone is a fragile one, due to the huge heterogeneity of as a consequence of the political and military conflicts still its member states. However, the general economic indicators persisting in this state. The European Union has now a recorded in Romania reflect a strong and stable economic supplementary problem to deal with, respectively to find a development.
    [Show full text]
  • Romania Real-Estate Market Report (Spring 2019).Cdr
    Activ ROMANIA REAL ESTATE MARKET REPORT SPRING 2019 www.SPATII-DE-BIROURI.RO ABOUT US Activ Property Services is the largest Romanian-owned real- BUCHAREST HEADQUARTERS - 34 CAROL DAVILA estate consultancy company, being found in 1993 and having over 26 years of experience on the local market. From 2018 we are the affiliated office of GVA Worldwide, operating under GVA Activ brand. Formerly we were the local partner of Cushman & Wakefield for 21 years (1995-2016) . We have our headquarters in Bucharest and operate two regional offices in Timisoara and Cluj-Napoca. Our team includes 35 professionals providing a full range of commercial real estate services such as: RETAIL AGENCY Our in-depth local knowledge enables us to advise landlords and retailers with a full-range of services (market analysis, INDUSTRIAL development consultancy, letting/re-letting, renegotiation, asset Our industrial team provides leasing and consultancy services for management). We have provided services for all type of projects developers and occupiers based on our in-depth knowledge of the (dominant shopping centres & retail parks, outlets) and tenants. main industrial & logistic hubs. Recent activity has been focused Our high street department is the market leader in re-negotiation on attracting new foreign investments, including TT Electronics, services and portfolio optimization / expansion, providing such AB Electronics, BOA, Eberspacher, Litens and SHW. services for thousand of units across the country. CAPITAL MARKETS OFFICE AGENCY We have been involved in large investment transactions, offering Our office services include landlord-representation, tenant- consultancy, due diligence and brokerage for both buyers and representation, consultancy, lease re-negociation, “move or stay” vendors, including major international companies such as Sonae analysis, market research etc.
    [Show full text]