Romania Feed

Nine important hotels in Eforie Sud and Eforie Nord, as well as other assets on the Romanian seaside, will be auctioned off in the next period, following the decision of Transilvania Investments Alliance (TRANSI.RO) to reposition its portfolio held in the hospitality sector.

The volume of foreign trade between Germany and Romania increased by 17.7% in the first nine months of 2022 as compared to the same period of 2021, up to EUR28.8 billion, according to estimates by officials of the Romanian-German Chamber of Commerce and Industry (AHK Romania), citing the latest data from the Federal Statistical Office (Destatis).

The commitment undertaken by the Foreign Investors Council (FIC) since 2013 to support the Romanian medical system continues through the project “Leaders for Excellence in Healthcare” (LEH), which consists of courses dedicated to the medical personnel from the top management of hospitals in Romania.

A team of consultants specialized in transactions from PwC Romania provided financial and tax due diligence services to Rezolv Energy for the acquisition of a majority stake in West Power Investments, which is developing a 1,044 MW solar park in Arad, from Monsson Group.

Poland’s Scallier, one of the most dynamic investors in small and middle-sized retail parks, is starting the construction of a retail park in the locality of Mosnita Noua, in Romania's western Timis County.

The number of employees in the Romanian business services industry has increased by nearly 30% over the last three years, according to the yearly report of the Association of Business Service Leaders (ABSL) in Romania.

The Romanian real estate market saw a spectacular boom over the last two years during which times the number of jobs and the average wage in the sector have increased.

Lender Banca Comerciala Romana (BCR), controlled by Austria’s Erste Group, posted net profit worth RON1.53 billion (EUR312 million) in the first nine months of 2022, up 34.8% from the same period of 2021.

BRD-SocGen, the third largest bank in Romania by assets, ended the first nine months of 2022 with RON2.44 billion net banking income, up 11.6% from the year-earlier period, while net profit increased by 12.5% in annual terms, to RON997.7 million.

Romania’s smartphone market will hit a value of around EUR1.3 billion at end-2022, up 20% from 2021 as the premium segment is gaining ever more ground. Premium smartphone sales now account for half of the total market value, in line with estimates by South Korea’s giant Samsung, leader of Romania’s smartphone market.

Romanian electrical component producer Romradiatoare Brasov, whose shareholding structure includes football couch Mircea Lucescu, registered RON1.48 million net losses in the first nine months of 2022, from RON1.4 million profit in the year-earlier period.

Farmaceutica Remedia in 2021 bet on a new market niche, installing robots in pharmacy warehouses, and nine pharmacies already have this system installed at present. The price starts from EUR70,000 and pharmacies can this way solve the problem of worker shortage.

Japanese fashion group Fast Retailing, one of the world's largest fashion industry actors, might enter Romania as late as in 2024-2025, bringing its flagship brand Uniqlo, market sources say.

Travel agency Weco Travel, one of the largest on the local market, which provides business travel services to companies, estimates that this year it will overshoot the RON80 million revenue mark, a level reached in the reference year 2019, as well.

Craiova can attract new investments in the automotive industry beyond the almost EUR500 million euros already announced by Ford Otosan after the takeover of the plant.

Romania's finance ministry raised RON937.8 million on Thursday (Nov 3) through two government bond issue, at annual average yields of 8.50% and 9.44%.

The management of One United Properties, the leading investor and developer of residential, mixed-use and office real estate in Romania, on Thursday announced investors of the decision of the Board of Directors dated November 1 whereby it was approved the share capital increase by RON185.1 million.

Turism, Hoteluri, Restaurante Marea Neagra (EFO.RO), a company listed on the Bucharest Stock Exchange and 78.6% controlled by Transilvania Investments Alliance (TRANSI), has called its shareholders for a meeting on November 29, 2022 to approve the lease or sale of assets on the Romanian Black Sea coast as part of a program to turn real estate assets into cash.

IULIUS Group announces that Palas Campus, the largest office building in Romania the group is developing in the city of Iasi, has already been fully leased before its commissioning scheduled for the first quarter of 2023.

Connections Consult (CC.RO), listed on the AERO market of the Bucharest Stock Exchange and the leader of the digital transformation market in Romania, has announced the acquisition of a 25% ownership stake in the edtech company 10 Plus Future Education SRL.