The Danube River springs from the Black Forest Mountains and crosses the entirety of Europe before ending its 2860 kilometre journey in the Black Sea. The delta formed by the branching of the Danube into 3 main branches, Chilia, Sulina and Sfantul Gheorghe, truly is a natural paradise. This incredible area of water and land has been designated by UNESCO as the largest wetland reserve in Europe, covering a surface area of 2,861 square meters. The delta is an exotic land with more than 1200 species of plant life and the richest ornithological fauna on the continent, comprising over 300 species including many unique pelican colonies. Ichthyological fauna is represented by over 100 species, among which the Danube herring and sturgeon are the most notable. On Letea grind there is a forest widely considered to be the world’s northernmost rainforest.

The starting point for a trip in the Delta is usually the city of Tulcea. Here there are modern hotels and also a unique floating hotel fitted with air conditioning, showers and toilets, a bar and restaurant. The floating hotel can dock in picturesque locations that can serve as a base for smaller boat trips in the delta. The advantage of the floating hotel is clearly apparent as it provides mobility to differing locations while still offering all the comforts of a hotel room. There are various tourist itineraries on offer for excursions into the delta.Every week one can embark on kayak tours with local fishermen. One can go on a photo-safari or can embark on an adventure program where the only supplies taken are those which will satisfy basic needs: knife, matches, first-aid kit, line and compass. These trips allow for the participants to lead the expedition under the supervision of experienced expedition guides. For fishing lovers 6-7 day programs are available which include full board accomodation, transportation, all inclusive services, specialized guides, fishing instruments, lures and baits. The fish dishes found in the kitchens of the delta are delicious and served with exquisite Romanian wines. The journey from Bucharest to Tulcea can be made by car or train and typically takes about 4 hours.

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 the end of 2006, and Eurocopter was the only company which submitted a bid. However, negotiations broke down in 2007 after delays in the privatisation process.

Last month, the State Assets Privatization Authority (AVAS) put IAR Ghimbav up for sale again, calling for final bids by June 23. Prospective buyers must submit a five-year business plan for development of the plant.

AVAS President Teodor Atanasiu said last month that IAR Ghimbav would maintain its field of activity. This followed several warnings by Cancescu that some investors interested in IAR planned to turn the company into a real estate business.

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 Transylvanian village, where he was to stay in a 19th-century manor belonging to Count Tibor Kalnoky.

Prince Charles, traveling without his wife Camilla, was also expected to visit two further villages, Saschiz and Viscri, which was founded by the Saxons in the 12th century and is known for its imposing fortified church, a UNESCO World Heritage site.

The two villages are part of a project led by the Mihai Eminescu Trust, an organisation under the Prince’s patronage, dedicated to the conservation and restoration of Transylvanian villages and churches.

Prince Charles, for whom this is the sixth visit to Romania since 1998, has been involved in several ecological farming projects in Transylvania where he owns several properties, and in the regeneration of the historic centre of the city of Sibiu — European City of Culture in 2007.

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 international shops, a supermarket and a 14-screen cinema - on a 20-acre site in Bucharest.

The Parklake Plaza site will also include two residential towers of about 300 apartments each. The five-level shopping centre is scheduled to open in April 2011, with almost 1.2 million square feet of floor space, making it one of the biggest shopping centres in Europe. It will have 443 shop units and 3,300 underground car parking spaces.

According to a statement from the firms, the ‘‘total gross investment, excluding Vat, is estimated at €591 million’’. Caelum Developments, which describes itself as ‘‘a specialist retail developer in Eastern Europe’’, was founded in 2002 by Sharkey’s Capital Partners Holding and focused initially on Poland.

It entered the Romanian market in 2006 and sourced the Parklake Plaza site in January last year. The firm has 46 properties in Poland, Romania, Hungary and Germany.

Sonae Sierra owns 47 shopping centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil. It has almost 30 other projects under development.

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 Vidin and Romania’s Kalafat, together with representatives of the European Commission, the Secretary-General of the Romanian Ministry of Transport, MP Mihail Mikov, the District Governor Krustyo Spasov, and the Mayors of Vidin and Kalafat.

The construction works are planned to begin on April 15, as the necessary coastal facilities are to be constructed first.

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, sector 2, an 1924, P+6
4. ARMENEASCA 28, sector 2, an 1935, P+5, in program
5. ARMENEASCA 28A, sector 2, an 1935, P+5, in program
6. NICOLAE BALCESCU7, sector 1, an 1933, P+6,
7. BĂLCESCU NICOLAE 24, sector 1, an 1928, P+12, in program
8. BĂLCESCU NICOLAE 25, sector 1, an 1934, 2S+P+11, in consolidare
9. BĂLCESCU NICOLAE 30, sector 1, an 1936, P+8+M
10. BĂLCESCU NICOLAE 32-34, sector 1, an 1934, P+9, in program
11. BARASCH IULIU 12, sector 3, an 1936, P+8, consolidat 2003
12. BATISTEI 5,sector 2, sector 2, an 1938, P+10,
13. BELDIMAN ALEXANDRU 1, sector 5, an 1940, P+9, in program
14. BISERICA AMZEI 8, sector 1, an 1935, P+5,
15. BISERICA ENEI 14, sector 1, an 1936, P+5,
16. BLANARI 14, sector 3, an 1935, P+5
17. BOCSA 3, sector 2, an 1932, P+5
18. BOLINTINEANU DIMITRIE 5, sector 3, an 1936, P+6
19. BOTEANU 3A, sector 1, an 1936, P+8+M
20. BOTEANU 3B, sector 1, an 1936, P+7, in proiectare
21. BRĂTIANU I.C. 5, sector 3, an 1936, P+8 in proiectare
22. BREZOIANU ION 6, sector 5, an 1936, P+8,
23. BREZOIANU ION 38, sector 1, an 1934, P+5 in program
24. BREZOIANU ION 38A, sector 1, an 1936, P+6
25. BREZOIANU ION 44, sector 1, an 1940, P+9
26.CADEREA BASTILIEI 5, sector 1, an 1925..35, D+P+7
27. CÎMPINEANU ION 9, sector 1, an 1915, P+6+M in program pr.
28. CÎMPINEANU ION 22, sector 1, an 1938, P+8,
29. CAIMATEI 18, sector 2, an 1936, P+5,
30. CALDERON JEAN LOUIS 2, sector 2, an 1910, P+5,
31. CALDERON JEAN LOUIS 59, sector 2, an 1930, P+7,in consolidare
32. CALDERON JEAN LOUIS 61, sector 2, an 1930, P+5,
33. CAROL I 47, sector 2, an 1934, P+8,
34. CAROL I 51, sector 2, an 1929, S+P+7,
35. CAROL I 63, sector 2, an 1937, P+5+M,
36. CAROL I 76 , sector 2, an 1939, P+8,
37. CATARGIU LASCĂR 15A, sector 1, an 1934, P+5,consolidat 2004
38. DACIA 9, sector 1, an 1938, P+7,
39. DACIA 85, sector 1, an 1935, S+P+5,
40. DIANEI 2, sector 2, an 1930, P+5,
41. DOAMNEI 5, sector 3, an 1934, P+10+M,
42. EFORIE 8, sector 5, an 1940, P+8+M,
43. EFTIMIU VICTOR 9, sector 1, an 1934, P+8,in program pr.
44. EMINESCU MIHAI 17, sector 1, an 1937, P+7+M, consolidat 2004
45. EMINESCU MIHAI 28, sector 1, an 1938, P+6,
46. ENESCU GEORGE 21, sector 1, an 1932, P+5+M,
47. EPISCOPIEI 5, sector 1, an 1936, D+P+6,
48. FILITTI ION 6, sector 3, an 1930, P+5+M,
49. FRANCEZĂ 9, sector 3, an 1910, P+6,
50. FRANCEZĂ 52, sector 3, an 1934, P+5+M,
51. GHICA ION 3, sector 3, an 1938, P+8,
52. GOLESCU NICOLAE 5, sector 1, an 1938, P+9,
53. GRIVIŢEI 33, sector 1, an 1930, P+7+M
54. GRIVIŢEI 107…109, sector 1, an 1934, P+5
55. HRISTO BOTEV 3, sector 3, an 1923, P+7
56. IONESCU D.TACHE 3, sector 1, an 1935, P+9,
57. IORGA NICOLAE 31, sector 1, an 1936, P+5,
58. IORGA NICOLAE 22, sector 1, an 1939, P+6+M
59. KOGALNICEANU MIHAIL 24 (44), sector 5, an 1938, P+7
60. KOGĂLNICEANU MIHAIL 91A (43), sector 5, an 1937, P+7
61. KOGĂLNICEANU MIHAIL 95A, sector 5, an 1938, P+7
62. KOGĂLNICEANU MIHAIL 97(51), sector 5, an 1929, P+7 in program pr.
63. LAHOVARI 5A, sector 1, an 1935, P+7
64. LASCĂR VASILE 18, sector 2, an 1937, P+6 in program exe.
65. LASCĂR VASILE 26…28, sector 2, an 1937, P+6
66. LIPSCANI 94, sector 3, an 1930, P+5
67. LONDRA 16…20, sector 1, an 1924, S+P+4+M
68. LUCHIAN ŞTEFAN 3, sector 2, an 1936, P+5+M
69. LUCHIAN ŞTEFAN 12, sector 2, an 1933, P+5+M
70. LUPU DIONISIE 53, sector 1, an 1937, P+7
71. LUPU DIONISIE 55, sector 1, an 1936, P+5+M
72. MÎNTULEASA 42, sector 2, an 1932, P+7
73. MAGHERU GHEORGHE 12 - 14, sector 1, an 1929, S+P+7..9
74. MAGHERU GHEORGHE 20, sector 1, an 1935, S+P+9
75. MAGHERU GHEORGHE 27, sector 1, an 1935, P+8+M
76. MARINESCU GHEORGHE 3, sector 5, an 1940, P+5 c onsolidat 2003
77. MENDELEEV D.I. 17(15), sector 1, an 1935, P+6 in consolidare
78. MICHELET JULES 1, sector 1, an 1937, P+7+M
79. MICHELET JULES 2…6, sector 1, an 1940, P+6+M
80. MIHAI VODĂ 15, sector 5, an 1914, P+6
81. MOŞILOR 42, sector 2, an 1930, P+4+M
82. MOŞILOR 96, sector 2, an 1930, P+6
83. MOŞILOR 131, sector 3, an 1938, P+5+M
84. OSTAŞILOR 4, sector 1, an 1927, P+5+M
85. PĂUN VASILE 5, sector 5, an 1930, P+5+M consolidat 2003
86. PALEOLOGU 3, sector 2, an 1936, P+5 consolidat 2004
87. PITAR MOŞ 27, sector 1, an 1936, P+6+M
88. PITAR MOŞ 29, sector 1, an 1936, P+6+M
89. PLEVNEI 1, sector 5, an 1937, P+7+M
90. POENARU BORDEA 12 - 14, sector 4, an 1936, P+7
91. POENARU BORDEA 16, sector 4, an 1936, P+7
92. POIANA NARCISELOR 5 sector 1, an 1929, P+6+M
93. ROSSETI C.A. 25, sector 2, an 1933, P+8 in consolidare
94. ROSETTI MARIA 55, sector 2, an 1934, P+8+M in program exe.
95. SALCÎMILOR 12, sector 2, an 1936, P+5
96. SAPIENŢEI 1, sector 5, an 1930, P+5
97. SEMILUNEI 8, sector 2, an 1935, P+5 in program pr.
98. SCHITU MAGUREANU 3, sector 5, an 1898, P+4+M
99. SFÎNTA VINERI 5, sector 3, an 1933,
100. SFÎNTUL ELEFTERIE 11, sector 5, an 1936, P+4+M in program pr.
101. SIMU ANASTASIE 6 (5), sector 1, an 1935, P+7
102. SMÎRDAN 18, sector 3, an 1940, P+7
103. SPĂTARULUI 1, sector 2, an 1935, P+6
104. SPERANŢEI 24, sector 2, an 1940, P+8
105. STELEA SPĂTARUL 17, sector 3, an 1937, P+6 in program exe.
106. ŞIPOTUL FÎNTÎNILOR 5, sector1, an 1938, P+7
107. ŞTIRBEI VODĂ 16, sector 1, an 1934, P+7
108. ŞTIRBEI VODĂ 17, sector 1, an 1936, P+8 in program exe.
109. ŞTIRBEI VODĂ 20, sector 1, an 1935, S+P+6+M
110. VÎNĂTORI 17, sector 5, an 1938, P+5
111. VICTORIEI 124, sector 1, an 1900, P+5+M in proiectare
112. VICTORIEI 33…35, sector 1, an 1930, P+5+M
113. VICTORIEI 128A, sector 1, an 1935, P+8 in proiectare
114. VICTORIEI 25, sector 1, an 1936, P+12 in program exe.
115. VICTORIEI 139, sector 1, an 1934, P+7
116. VICTORIEI 95…97, sector 1, an 1938, P+9+M
117. VICTORIEI 101A,B, sector 1, an 1937, P+10 in proiectare
118. VICTORIEI 112, sector 1, an 1939, P+8
119. VICTORIEI 208, sector 1, an 1940, P+7+M
120. VICTORIEI 2…4, sector 3, an 1928, P+8
121. VLAICU AUREL 39, sector 2, an 1940, P+6
122. VULTURILOR 25, sector 3, an 1935, P+5
123. XENOPOL ALEXANDRU 3, sector 1, an 1940, P+8

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 million deal involving 11 hectares of land in northern Bucharest. The plot was purchased from Romania’s largest company, Petrom.

Israeli developer AFI Europe purchased 15.5 hectares of the Laromet industrial platform, in north-western Bucharest, for €77.5 mln, in the second-largest deal registered in 2007. Israeli company Rosebud Medical ranks third, with a payment of €72.9 million for 6 hectares in northern Bucharest, while the fourth-largest deal involved mall developer Belrom, which purchased 9 hectares in eastern Bucharest, for €60 mln. The same amount was paid by Austrian company Real4you for 7 hectares, also in the eastern area of the capital.

“Investors are mainly targeting small [adjoining] plots to create larger areas, especially in the northern and western areas of Bucharest, where large residential and industrial projects have been built,” the study writes.

Last year, the prices of land for residential and office projects in central areas rose some 15-20 percent, according to real estate specialists.

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 target markets of Romania, Ukraine and Turkey.

Flusberg, Adama’s president, said: ‘This transaction, Adama’s fourth private placement in the past two and half years significantly increases the company’s ability to expand its portfolio of high return development projects across target markets.’

John Carrafiell, head of Morgan Stanley’s real estate investing division said: ‘We believe that Romania’s strong demand for quality real estate provides an attractive opportunity to expand our investment platform in central and eastern Europe.’

Romania has an efficient mortgage system in terms of the ease of procedures, costs, security and adequacy to market requirements, according to a report on “Mortgages in transition economies” released by the European Bank for Reconstruction and Development (EBRD).

The report looks at the legislative framework and the mortgage market in 17 Central and Eastern European countries, Romania included. Deloitte Romania and Reff si Asociatii SCA, the law firm affiliated with Deloitte Romania, contributed in drawing up the report for Romania. “We are yet to see whether the mortgage market growth in Romania will maintain the alert rate it has had so far.

Romania has had for approx. two years a legislative and regulatory framework regarding mortgage claims and securities. For a market with such an alert growth rate as the one witnessed by Romania over the past few years, the benefits of using capital market tools may be substantial, and facilitate better management of refinancing costs, of capital adequacy requirements for crediting institutions, and a prospective positive impact on crediting costs to the benefit of borrowers,” says Reff & Asociatii Senior Manager Andrei Burz Pinzaru.

Low fares airline Blue Air which is based at Bucharest Baneasa airport is to launch scheduled flights from Cyprus to Romania next March. Blue Air new service from Larnaka to Bucharest will commence on Sunday 30 March 2008 with direct flights operating three times per week on Tuesdays, Thursdays and Fridays. Flights from Bucharest to Larnaka are also planned on Mondays, Wednesdays and Fridays.

Florentina Ivan, Marketing Director for the Blue Air, commented: “Wishing to offer to its passengers as many reasons of joy as it can, Blue Air, the low cost leader in Romania, introduces its 28th destination, Larnaka. Following numerous requests received from Blue Air passengers, we have decided to operate flights to and from Larnaka, one of the most attractive destinations in the east Mediterranean.”

Henry de la Monneraye, Acting CEO for Hermes Airports Ltd said: “We are very happy to welcome to the Lanarka International Airport this Romanian low cost airline. We strongly believe that the new service of the Blue Air will also be very welcomed by travellers”.