Atisreal: real estate deals most affected by crisis, market to warm up in second half of the year

Newsroom 31/03/2008 | 15:59

“Because international banks have become more prudent in offering loans, investors will face hard times in getting the needed money to buy projects,” Momiceanu added. However, the investment segment was only temporarily halted, Atisreal officials suggested.
“Current financing conditions on the international market indicate that the first half of 2008 will see a slightly slower pace or a stabilization, but the second half of the year will see an aggressive warm -up preparing a new growth period on the real estate market, due to real estate investors' interest in Romania,” said Henri Faure, deputy managing director of BNP Paribas Real Estate and president of Atisreal.
According to Atisreal's local market overview, prime net office yields in Bucharest were easier to achieve due to the shortage of available products and ever-increasing demand, with prime office yields reaching six percent in 2007.
Atisreal entered the Romanian market in February this year by taking over Cornerstone, the former Romanian-based franchise of the American company CB Richard Ellis. It is planning a EUR 4.8 million turnover in 2008.
This major transaction added to another important take over on the local real estate market, as Eurisko was bought with $35 million by the American group CB Richard Ellis (CBRE). By acquiring Eurisko, CBRE re-entered the Romanian market directly, after the American group withdrew the franchise from the Cornerstone team in 2007.
The Cornerstone annual turnover growth of 60 percent was exceeded in 2007. Representatives of Atisreal Romania expect a 60 percent growth in 2008.

Magda Purice

BR Magazine | Latest Issue

Download PDF or read online: November 2022 Issue | Business Review Magazine

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Newsroom | 29/11/2022 | 10:17

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of business-review.eu
    I agree with the storage and handling of my data by business-review.eu
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue