The Autonomous Administration of the State Protocol Heritage (RA-APPS) is preparing auctions for the sale of a 5,000 square meter plot of land in Gruiu, Ilfov County, at a starting price of almost EUR 200,000, and the Covasna minihotel, in the city of the same name, at a starting price of almost EUR 300,000.

The Covasna minihotel was previously put up for sale by RA-APPS, back in 2007, when the asking starting price was EUR 650,000, but the sale was unsuccessful.
Regarding the 5,000 sqm plot of land in Gruiu commune, Ilfov county, a first auction was also organized by RA-APPS in December last year, at a starting auction price of EUR 220,000, excluding VAT, but there were no interested buyers.

Source: Profit.ro

The number of active mandatory home insurance policies (PAD) in Romania increased by 14.41% in 2024, reaching approximately 2.34 million, compared to 2.04 million policies recorded on December 30, 2023, according to data from the Natural Disaster Insurance Pool (PAID), the entity responsible for issuing this insurance.

As of the end of December, urban areas accounted for 71.5% of all active PAD policies, while rural areas made up 28.5%. Regarding the type of insured dwellings, 94.2% of PAD policies cover type A homes—those with reinforced concrete, metal, or wood structures, and external walls made of stone, burnt brick, or materials treated thermally or chemically. The remaining 5.8% cover type B homes, characterized by external walls made of unburnt brick or untreated materials.

Mandatory home insurance premiums remain fixed at RON 130 for type A dwellings, providing a maximum insured amount of RON 100,000, and EUR 50 for type B dwellings, covering up to EUR 50,000. The continued growth in policy numbers underscores the increasing awareness and adoption of insurance against natural disasters.

AFI Europe, which acquired the former Bancorex headquarters from Immofinanz (part of CPI Property Group) in August for EUR 27.5 million, has announced plans to partially demolish and renovate the iconic building. The project marks a significant transformation for what is considered the first modern office building in Bucharest.

The property spans 31,000 square meters, but following redevelopment, the usable area will be reduced to approximately 26,000 square meters, encompassing both office and commercial space. “The building is slated for partial demolition and redevelopment, with all necessary planning permits already secured. Construction is expected to commence in early 2025,” the company confirmed in a statement.

The planning authorization for the project is valid for 24 months, with the construction phase estimated to take 36 months. Upon completion, the project will revitalize a historic part of Bucharest’s commercial landscape while adapting it to modern standards.