Romania Feed

UiPath founder and CEO Daniel Dines is in talks to acquire a 5% stake in One United Properties, one of the most active real estate developers of residential, office and mixed-use projects in Bucharest, sources close to the talks told Ziarul Financiar.

Belgian developer Atenor, which is working on the Dacia One project in Bucharest, announced it has agreed to sell the Hermes Business Campus office complex in northern Bucharest to Boutique investment fund manager Adventum for EUR120 million.

Demand for technical due diligence services has grown in recent years, as financial institutions, investors and real estate owners pay more attention to risk analysis regarding the purchase and sale of real estate assets, consultancy company Colliers said Tuesday.

Low-cost airline Wizz Air on Tuesday said it would launch two new routes from Cluj-Napoca to Chania in Greece and Catania in Italy.

Romania's three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei, fell to 1.54% a year on Tuesday (May 11), after stagnating at 1.59% in the last 16 days.

Vegis.ro, one of the biggest online stores selling food supplements, natural, vegan and bioproducts, plans to invest EUR250,000 in a new warehouse, which will enable an increase in the volume of products in stock, and in optimizing the fast processing capacity of orders.

AAylex Group, owned by entrepreneur Bogdan Stanca, which produces and sells poultry meat under the Cocorico brand, is acquiring Banvit Foods, one of the largest local producers of chicken feed and day-old chicks.

German-owned discount retail chain Penny, which operates a network of almost 280 discount stores, had a net turnover of RON4.73 billion in 2020.

Growing reliance on the digital home has driven a surge in online behaviors during the COVID-19 pandemic but rising service adoption is also marked by an increase in consumer fears around digital well-being, which demands an urgent shift in approach from providers, according to a study by EY.

The subscription-based medical services market in Romania has reached over 1.6 million subscribers in 2020 and contributes 25%-30% to the turnover of large private healthcare operators.

The group that owns the Radisson Blu hotel in capital city Bucharest seeks to invest EUR24 million to increase the number of rooms to over 600 and to refurbish the hotel lobby and the indoor garden. Thus, over 200 new rooms will be built.

Irish company Alternus Energy Group has acquired a photovoltaic park with an installed capacity of 20 MW, in Giurgiu County, which was previously part of the portfolio of Risen Energy Solar Project.

Vascar, one of the leading players in the meat industry, targets a turnover of almost EUR24 million end-2021, up 5% on the year, considering that it decided to earmark EUR3 million for upgrading its processing unit in Vaslui and its own stores in the region of Moldavia.

Globalworth Industrial, the industrial and logistics sub-brand of Globalworth, is extending its portfolio by acquiring two industrial projects of 27,000 square meters.

Investments on the Romanian real estate market grew 32% to over EUR805 million in 2020, with the largest land transactions exceeding EUR220 million. The office space segment expects over 230,000 new square meters in 2021, the industrial sector saw a 60% surge in leases and the residential sector saw a 20% rise in luxury home prices, per the annual report of Crosspoint Real Estate.

Toy wholesaler EduClass doubled sales to RON17 million year-on-year in 2020. The growth driver was the online sales, since the COVID-19 pandemic kept kids indoors.

Duvenbeck Logistik, one of the largest transport and logistics companies in Romania, ended 2020 with RON326.1 million (EUR67.6 million) revenue, 19% lower than in 2019, when it posted about RON406 million (EUR85.7 million) revenue, Finance Ministry data show.

Plastic product manufacturer Sterk Plast plans to continue investments in production over the coming years and hire at least 300 people for its plant in Medgidia, Constanta County, Suleyman Islambay, manager and majority owner of Sterk Plast, said.

Romanian real estate developer Impact Developer & Contractor (IMP.RO) said Monday it has signed two mortgage loan agreements amounting to EUR13.3 million with Libra Internet Bank, for real estate investments.

European retail banks will return to their pre-COVID performance within three to five years and profitability will remain under pressure for the next two years, global consultancy company Kearney said the 2021 edition of its “European Banking radar” report.