Central and eastern European developer Adama Holding has raised E100m (£76m) of new equity in a private placement. The company’s new investors are Morgan Stanley Real Estate’s Special Situations Fund III and two existing Adama shareholders, Lehman Brothers and Immoeast, a Vienna-based listed property company. The new money will be used to fund Adama’s expansion in its [...]

The top ten land deals registered last year in Bucharest amounted to a total €500 million, according to a study by real estate consulting company Atisreal Romania, part of French group BNP Paribas. Meanwhile, deals with real estate projects totaled €750 mln in 2007, mostly for office buildings. Raiffeisen Evolution was top land buyer, with a €90 [...]

The following addresses refer to buildings in Bucharest identified as “seismic risk level 1″, meaning that these buildings may not resist a future earthquake in the Bucharest area.  These building are identified with a red dot on their exterior facade. 1. ARCULUI 4, sector 2, an 1932, S+P+7 2. ARGHEZI TUDOR nr.26, sector 2, an 1939, P+8 3. ARGHEZI TUDOR nr 54, [...]

Ford on Friday officially took control of Automobile Craiova, the former Daewoo operation here, for a token payment of $80 million and a promise to invest more than $1 billion. Ford executives said the factory will assemble the Transit Connectin 2009 and a new small car in 2010. Ford plans to boost the plant’s annual production [...]

The new working program about the construction of the second bridge connecting Bulgaria and Romania over the Danube River envisages its completion in 2010. The news was announced Friday in the city of Vidin by Bulgaria’s Deputy Minister of Transport Vesela Gospodinova. Gospodinova took part in a meeting on the bridge project, which is to connect Bulgarai’s [...]

A property-development firm run by Irishman David Sharkey has formed a joint venture to develop a €591million shopping centre in Romania. Warsaw-based Caelum Developments, which is headed by Sharkey, has formed the 50:50 joint venture with an international shopping centre company called Sonae Sierra. They plan to develop Parklake Plaza - which will include a range of [...]

Romania’s biggest mall opens today in Băneasa, an area in the northern part of the capital, Bucharest, national media reported. The Băneasa Shopping City will contain 221 stores, of which 70 per cent are open to customers today. The cafés and restaurants are expected to begin work after next weekend’s Easter holidays the Romanian newspaper Evenimentul [...]

C&A, a major apparel retailer, with over 1,000 stores in Europe, plans to open ten stores on the Romanian market by 2010, with the first location to be launched in 2009. “In the first year, we estimate we’ll open between 4 and 6 stores, where we need around 100 employees, and by 2010 C&A’s store chain [...]

Prince Charles began a four-day private visit to Romania Tuesday, where he is due to visit several villages in Transylvania, in the centre of the country, official sources said.The Prince met with Romanian President Traian Basescu and Prime Minister Calin Tariceanu on the first day of his trip, before traveling on to Miclosoara, a quaint [...]

Franco-German concern Eurocopter is still interested in buying Romanian helicopter and light-plane manufacturer IAR Ghimbav, according to the President of the local council. Aristotel Cancescu, president of Brasov county council, where the town of Ghimbav lies, put the offer price at 11 million euros for a 64.89-per cent stake. IAR Ghimbav was put up for privatisation at [...]