Romanian Properties Ltd released Belvedere residence, a new development in the up-and-coming area of Bucharest Mogosoaia.

Belvedere residence is composed of 14 fully equipped and fully decorated apartments from only 785 Eur / sqm. Similar apartments in new-built developments closer to the airports such as Baneasa area are currently for sale between 1,500 Eur/sqm and 2,500 Eur/sqm.

With its luxuriously finished and well proportioned apartments, Belvedere residence offers one of the best investments on the Romanian real estate market.

Romania has just signed an accord to access the EEA in Brussels: a financial contribution of 100 million euro will be provided by the EEA countries to Romania until April 2009.

Joining the European Economic Area will provide Romania with financial support in the following areas: sustainable development, energy, health and environment development.

No35 Castle Street in Brasov old town sold out within only a few weeks by Romanian Properties Ltd.

Romanian Properties Ltd was exclusive agent for this exceptional development in a very sought-after location.

Brasov, situated in the heart of Transylvania, currently offers the best return on investment on the Romanian real estate market for the following reasons:

• international airport to be built in 2009
• motorway between Budapest and Bucharest currently being built. The motorway will pass through Brasov and industries currently develop at a high pace in the area
• a few minutes from Poiana Brasov, the main ski resort in Romania
• 320,000 inhabitants in Brasov enables renting to either local inhabitants or tourists

Donald Trump wants to invest in Romania. The businessman will invest around EUR one bln in Romania, according to Antena 3 tv channel. The American tycoon will sign a protocol of collaboration with the Chamber of Real Estate Trade and the Association of Real Estate Investors. If everything goes on according to his plans, in the next five years we shall announce Trump office spaces and Trump residential complexes, maybe even Trump hotels.

It is only known that the American wants to call all the projects by his own name. Everybody knows about Donald Trump that he has already built a real estate empire. Trump Organisation is the biggest player on the market of hotel operators. Through this company, Trump manages luxury hotels such as Trump Palace, Trump International Hotel, Seven Springs Mansion, or Plaza Hotel.

His business boomed when he built several skyscrapers in Manhattan, which he called by his own name. Prior to that moment, Trump made money from any property. First, he turned his holiday houses into profitable affairs. “Forbes” magazine estimates Donald Trump’s wealth at USD 2.5 bln, rating him 71 in the top richest people in the world. But Trump thinks high, saying that actually his wealth exceeds USD six bln.

Wizz Air has announced the launch of a new service between Liverpool John Lennon Airport and Bucharest.

Flights to the Romanian capital will start on October 1 and operate three times a week, joining the existing service from Luton Airport that launched earlier this year.

At the same time Wizz Air will begin services to Palma and Valencia from Bucharest, as well as increasing the frequency of flights to Romania from both Luton and Rome in the summer.

Wizz Air, the largest low-cost operator in Eastern Europe, has looked to establish itself in the UK and is set to bring a number of new routes to Poland from Coventry, Durham Tees Valley, Bournemouth and Doncaster Sheffield airports.

Dutch group Unilever South Central Europe (USCE), known in Romania for the Dove, Rexona and Rama brands posted a domestic business worth 173 million euros in 2006, an increase of around 26% against the 136.9 million-euro turnover reported in 2005.

The company’s net profit margin stood at around 6% in 2006, a slight decline on the previous year, when the profit margin was around 7%. In 2006, the increase in profit in real terms was around 9% (from 9.9 million euros to 10.8 million euros). However, if calculated in RON, the profit stagnated at 36 million RON. USCE representatives did not wish to comment on any of the results.

Daughter company closes deals for land near Bucharest, to develop housing and commercial projects

DCL Technologies, controlled by the Drori-Liberson group reported that it signed its first deal in Romania since control of the company was transferred last August.

Ofer Hirchson (son of Finance Minister Abraham Hirchson) sold the majority share (60 percent) of the company to the investment group headed by real estate entrepreneur Ofer Drori-Liberson as a shell company for NIS 50,000,000 (USD 11,600,900).

The deal, negotiated by a daughter company of DCL, will give over two areas of land near Bucharest, where the company will develop housing and commercial projects, for the total sum of NIS 35,200,000 (USD 8,167,000).

The deals will be finalized after the propriety check of the company is complete. There are also discussions of possibly including foreign investors in the projects.

Ofer Drori-Liberson, CEO of DCL: “Today Romania is considered one of the mos alluring markets in east Europe. The company intends to continue locating and acquiring lands near Bucharest and similar areas where we recognize the potential for urban development.”

Tagor, Patron to invest almost $248 million over ensuing 4 years in Romanian development projects

Tagor Capital Ltd. has signed a four-year cooperation deal with the UK-based real estate fund Patron Capital and the two are set to invest some $75 million in housing and commercial development projects in Romania.

Projections for the complete development plans estimate a total investment of at least $248 million.

Patron will provide 75 percent of the capital used to finance the projects while Tagor will invest the remaining 25 percent. Both companies agreed that in accordance with the set financial objectives, Tagor will be eligible for half of the profits yielded from the investment.

Tagor will be charged with locating, examining and purchasing the property as well as managing the actual execution of the project. As such it will be entitled to quarterly management fees.

Ofer Drori-Liberson, the Founder and controlling partner of Tagor Capital, began operating privately in Romania in early 2004 and since then has purchased a significant number of equity properties in and around Bucharest and other urban regions in Romania. The company went public on the Tel Aviv Stock Exchange in September 2006.Patron Capital has been operating throughout Western and Central Europe since 1999 and has overseen over $6.7 billion worth of transactions.

The Tagor–Patron joint venture has earmarked some $135.8 million for investment in Romanian real estate.