An international airport with an annual capacity of one million passengers will be constructed in two years, at the most, in the central locality of Ghimbav, close to the city of Brasov. The investment will total 100m euros. The registration act of the company International Airport Brasov Ghimbav was signed last week at the Brasov County Council. The works are likely to start in 2007 and will take 18 months. “The airport, having a capacity of one million passengers a year, is designed for the landing and take-off of medium size aircraft,” said Ioan Toma, representative of the Canadian company
“Intelcan,” holder of 64.3 per cent of the airport’s administration company. Both the passenger and the cargo terminals will have a modular structure, allowing further extension in the coming years. The airport will cover 65 hectares that were made available by the purchased of the lands placed at the Canadian Company Intelcan Technosystems Inc. disposal. This one is also the majority shareholder of the company that will administer the Brasov-Ghimbav International Airport, holding 64.3 percent of the shares. Other stakeholders include Brasov County (20 percent), the city of Brasov (10 percent), and Covasna and Harghita counties as well as the city of Ghimbav, which each hold a five percent stake.
According to a decision of the Brasov County Council, Intelcan is responsible for implementing the project for a fixed cost of 76 million euros within 18 months from the time works begin. Moreover, the Canadian company is responsible for obtaining the necessary financing. Intelcan will operate the future airport together with Ottawa International Airport. Local authorities from the three counties will coordinate infrastructure and utilities works for the airport. The airport location was chosen due to the local economic development and the need for companies to ship export goods by air.

Moreover, the distance from Brasov to other international airports in Romania is relatively far.
Intelcan is a world leader in air traffic management systems and has clients in 60 countries. On Monday, 14th November 2005, the papers were signed for the turning up of the administration society for the new Airport in Brasov. A delegation of IntelCan Company, managed by its president, Mr. Roland Weinsberger, arrived in Brasov on 14th November in order to sign up the papers for turning up the administration society for the Airport in Brasov. For the 1st phase, the Canadians will
own 51% and the District Council will own 49%. The president of DC Brasov, Aristotel Cancescu announced that, after a while, they will make over part of the stocks to the District Council from Harghita and Covasna or to the Local Council Ghimbav. Cancescu also underlined that, at the moment, Brasov needs a medium airport, the costs being estimated at 100 million dollars. Mr. Cancescu affirmed that they would lend the necessary money without governmental, district or
local guarantees. The expectations are to start the works for the airport by the end of his mandate and to be over by 2009, as the Canadians say.

The Rothschild banking family officially entered the domestic housing market last week in a deal worth 104 million euros for a 60 percent stake in three housing projects, which are controlled by the Israeli owners of Euro Habitat, the developer of Planorama project in Colentina.

The three projects are located in Ploiesti, Brasov and Bucharest’s Colentina district, and will include approximately 8,000 houses, in the wake of investments expected to amount to almost one billion euros.

“The deal, valued at 104 million euros, was sealed on Monday evening, in Piraeus bank’s Carol Boulevard headquarters. The three projects will be developed under a different brand, which will be made public next year, when works begin and the projects are launched,” Haim Zemer Tov, CEO at Euro Habitat and a stakeholder in the three projects.

The number of shopping centres outside Bucharest has doubled this year from 9 to 18, and is expected to double again next year, as another 15 or 16 mall-type projects are scheduled for delivery outside Bucharest in 2008.

In comparison, only four shopping centres were delivered elsewhere in Romania last year: in Sibiu, Ramnicu-Valcea, Constanta and Brasov.

The impact of these malls, which put around 250,000 new retail spaces on the market, will affect both the consumption habits of Romanians and the labour market.

According to these figures, the number of mall visitors has increased by nearly 200,000 people a day. In addition, the malls opened this year total around 1,600 shops, which employ about 15,000 people, taking into account a 150 square metre surface area per store. With a significant number of retail spaces opening in malls, the business of the small street front shops could be affected.

The largest network of shopping centres completed so far on the market is held by Iasi-based businessman Iulian Dascalu, who finished the third Iulius-branded mall in Cluj-Napoca this year.

Completed projects - eight in total, became more concentrated towards the end of the year, after only one mall was delivered in the first half (Euromall Pitesti). “November and December are the best months for shopping, as retailers usually see their business double or even triple at this time of the year,” Moraru explains.

Some cities like Bacau and Pitesti witnessed the launch of their first ever malls (Arena Mall and Euromall), whilst in cities like Brasov and Iasi the latest projects delivered - Unirea Shopping Center and Felicia Shopping City, became the third players on their respective markets. On the other hand, while cities like Galati and Craiova still have no large shopping centres available, Cluj-Napoca and Targu Mures both saw two projects delivered this year - Iulius Mall and Polus Center and European Retail Park and Mures Mall respectively.

The end of the year has not seen any new shopping centres delivered onto the Bucharest market, although already established malls (Bucuresti Mall and Plaza Romania) conducted expansion projects. Developers have blueprints and shopping centre models on their desks that will help take this market to around 100 such centres over the next few years, and intend to cover all the big cities in Romania.