Cloud9, part of Alfa Group's real estate division, has begun construction on the second phase of its Cloud9 Evolution residential project in northern Bucharest. The company is investing €80 million in this phase, part of a total €170 million budget for the entire development.
Romanian developer Hils Development has announced the complete sale of the Hils Brauner residential complex, located in eastern Bucharest in the Theodor Pallady - Victor Brauner area. The project comprises 1,336 apartments and over 2,500 residents.
Speedwell is strengthening its collaboration with Garanti BBVA Romania through a new €8 million financing agreement. The facility will fund the development of Building C8, the fourth building within The Ivy, Speedwell's residential project near Băneasa Forest. With this deal, Garanti BBVA's total financing for The Ivy now reaches almost €40 million.
Prima Development Group has acquired a two-hectare plot adjacent to its new residential project Prima Solis, launched this summer. The transaction worth nearly €4 million will allow the expansion of the complex with approximately 700 apartments.
Local developer Zacaria has kicked off the development of the second phase of the Valletta Park residential complex in Sibiu.
Hercesa Romania has announced the launch of sales for Vivenda Prime, a new residential project in Eastern Bucharest comprising 105 apartments.
The first building of the Stellaris residential project in western Bucharest is 95% sold, and the works on the second one are progressing according to schedule.
The project covers an area of 8,500 m2 of land and has approximately 47,000 m2 built, including the underground, and each of the three buildings has a height of S+P+10E+Duplex.
The Bellemonde residential complex in Pipera, near Bucharest, is recording growth in sales for its villas and apartments.
The new apartments are ready to welcome their owners, who can already move in, the process of signing the sale-purchase contracts starting with October 1st.
The developer is currently developing 700 residential units in Bucharest, Pipera, Corbeanca/Balotești and other locations in the country.
KÉSZ Romania obtained the building permit for the Corallis residential complex, the first project in the capital, in which it is investing over €51 million.
Both Romanians and foreigners want to buy houses in the capital, big cities or in cities with landscapes such as Brașov, either to rent them or to settle.
Nova Power & Gas, part of the E-INFRA group, has announced the commercial operation of Romania's largest battery energy storage facility, with a capacity of 200 MW and 400 MWh, located in Florești, Cluj County.
Vlasceanu & Partners has advised Econergy on a €40.5 million project financing from UniCredit Bank for the development of an 87 MW photovoltaic project in Oradea, Romania.
Romania leads the European Union in both VAT and corporate tax collection failures, losing approximately one-third of potential revenue from each tax, according to a European Commission analysis published this week.
Romanian farmers will gain access to additional financing through a €25 million loan from the European Investment Bank (EIB) to Agricover Credit IFN. The non-bank financial institution will channel the funds to micro agricultural businesses seeking to improve productivity and environmental sustainability.
Oil major OMV Petrom has started preparations for exploration drilling in Bulgaria's Han Asparuh offshore block, which is operated together with NewMed Energy.