The global professional services company has fortified its presence in Romania through an office lease meant to easily accommodate its expansion perspectives
Romanian property company Impact Developer & Contractor said its net profit amounted to 39.9 million lei (around €7 million) in 2023, down by more than 59% versus 2022 over lower revenue from residential sales.
Repaco Capital has started the construction of Crevedia Retail Park that will be completed in H2 2024 near Bucharest following an investment of €15 million.
The Romanian investment market recorded transactions of around €476 million last year, down by more than half over 2022's cycle high of €1.25 billion.
For Terra Romania Utilaje de Construcții, part of the Austrian group Terra Holding, 2023 was the best year in its history on the local market.
Construction and real estate sectors are among the most cyclical sectors. Sensitive to changes in the labour market, prices and the interest rate, they are currently under strain.
Impact Developer & Contractor (symbol IMP) raised over one million euro in the first 72 hours of issuing the bond offer. The public offer is ongoing until February 23, 2024.
Romania posted in November in the highest inflation rate in the European Union, according to statistical office Eurostat.
Fitch Ratings has affirmed its Long-Term Issuer Default Rating of BBB- with a negative outlook for Romanian state-owned nuclear power company Nuclearelectrica.
DP World has expanded its operations in Romania with two new mobile harbour cranes and a 119,000 sqm multimodal terminal platform at Constanța South Container Terminal.
Ebury, the global fintech specialising in international payments and FX risk management, has appointed Cosmin Bucur as its new Country Manager for Romania.
Croatia, Czech Republic, Hungary, Poland, Romania and Slovakia have recorded an 18% increase in banking assets between 2021 and 2024.