Romania has the first wind farm that will power cement factory

ROMCIM, part of the CRH Group, has completed the construction of the wind farm that directly powers the cement factory in Medgidia, Constanța County. The wind farm includes 5 turbines, with a total installed capacity of about 30MW and an estimated annual net production of approximately 80GWh. The electricity produced will be used entirely for the factory’s own consumption, covering a significant percentage of the annual energy required and ensuring a reduced carbon footprint for the products made in the factory.

The project, launched in August 2023, benefited from non-reimbursable funds through the National Recovery and Resilience Plan, which supports investments in new electricity production capacities from solar and wind sources.

,,This wind farm marks an important milestone for Romcim, in line with our sustainability strategy and the zero carbon emissions objective, contributing to Romania’s energy transition. The use of renewable energy at the Medgidia factory allows Romcim to meet the growing demand for sustainable solutions in the field of building materials. By investing in sustainable technologies, we are setting a new standard for responsible production in our industry and we are excited about the positive impact that this wind farm has on our operations,’’ said Frédéric Aubet, Managing Director of Romcim.

Hesburger opens fifth restaurant in Romania, at Băneasa Shopping City

Finnish fast-food restaurant chain Hesburger has opened a new unit in Romania, in Băneasa Shopping City, following an investment of EUR 500,000. The opening of the restaurant led to the creation of 20 jobs. So far, the company has invested 1.65 million euros in the local market.

“With the opening of this third restaurant in the capital, we continue our development strategy, focusing on establishing a strong presence in the Bucharest metropolitan area. After the recent launch of our restaurants at AFI Cotroceni and at Henri Coandă International Airport in Otopeni, the largest airport in Romania, we are happy to now expand our operations to another top location, Băneasa Shopping City, one of the largest shopping centers in the country. This place is a major attraction not only for the residents of Bucharest, but also for the many tourists visiting the area,” said Ieva Salmela, International Development & Marketing Director, Hesburger.

Hesburger plans to continue its expansion in Romania and open a total of 10 restaurants, following an investment of EUR 8 million in the first year of operation.

Meta Estate Trust buys land near Victoriei Square

Meta Estate Trust has acquired land near Victoriei Square in Bucharest where it wants to develop a clinic-type office building intended for lease to a player in the private medical services industry.

The land has an urban planning certificate and is in the process of obtaining a building permit, and the development of the office building will begin in 2025. Thus, according to the requirements that the company has in the lease agreement concluded with the clinic network, Meta Estate Trust representatives estimate that the project will be ready at the beginning of 2027, and the value of the entire asset upon completion will be approximately EUR 5.5 million euros.

Meta Estate Trust is in the process of identifying and contracting a general contractor for the project, the estimated construction costs are approximately EUR 2 million. The company is also analyzing the opportunity to attract bank financing to cover the costs related to the construction phase.

Hagag Development Europe Partners with CIJ Awards Romania 2024

CIJ EUROPE is proud to announce that Hagag Development Europe will be a partner of the prestigious CIJ Awards Romania 2024, set to take place on December 4th at the Radisson Blu in Bucharest.

Hagag Development Europe is an international real estate investor-developer specialized in residential and commercial projects in Romania, traded on the Tel-Aviv Stock Exchange. The company’s portfolio spans across multiple industry segments, from residential and office to retail. In addition, Hagag has been the first developer on the local market to place significant investments into developing and growing the niche segment of urban renewal through the redevelopment/renovation of old, historical buildings in downtown Bucharest.

This year, the developer’s attention was focused on pushing forward with its two retail projects – H Stirbei Palace and the commercial component of H Pipera Lake, and attracting future tenants. Meanwhile, the company has added to its portfolio a new residential project located in East Bucharest, submitted the documentation to secure the building permit for phase II of H Pipera Lake, and reached a 90% occupancy rate for its office building H Tudor Arghezi 21, and 80% for its Business Center H Private Arghezi.

The CIJ Awards Romania 2024 will recognize outstanding achievements across various categories, including residential, commercial, and mixed-use developments. This high-profile event will bring together leading professionals and highlight the latest trends and successes in the Romanian real estate market. For more details about the event, please check out our website: https://awards.cijeurope.com/cij-awards-romania/#about

Serbia and Chinese Minth to cooperate on logistics investment projects

Serbia’s government and the Chinese car parts manufacturer Minth have signed a memorandum of cooperation on development and logistics investment projects in Serbia’s capital Belgrade and the northern town of Indjija, according to the government. The agreement was signed during Serbian prime minister Milos Vucevic’s visit to Minth’s headquarters in Shanghai.

Earlier in July, Serbia’s government approved an agreement with Minth that will see the Chinese firm set up a new production facility in Indjija and invest EUR 870 million over a period of 10 years.

Minth already has car part plants in Loznica and Sabac, in western Serbia. The company operates in Serbia since 2018 through subsidiary Minth Automotive Europe.

Increase in Residential Building Permits Issued in Romania

In the first nine months, 27,262 building permits for residential buildings were issued, up 3.3% compared to the same period in 2023, according to data from the National Institute of Statistics (INS).

Increases were recorded in the following development regions: South-Muntenia (+336 authorizations), West (+273), North-East (+140), North-West (+105), Bucharest-Ilfov (+92), South-West Oltenia (+47) and South-East (+9)”, show INS data. A decrease was recorded in the Center development region (-134 authorizations).

In September 2024, 3,490 building permits for residential buildings were issued (+3.9% compared to August 2024). Of the total building permits for residential buildings, 72.8% are for rural areas.

In territorial terms, this increase is reflected in the following development regions: West (+108 authorizations), Center (+59) and North-West (+58). Decreases were recorded in the following development regions: North-East (-46 authorizations), South-West Oltenia (-23), Bucharest-Ilfov (-13), South-Muntenia (-9) and South-East (-4).

Lantmännen Unibake advances major project in Romania

Lantmännen Unibake Romania, one of the leaders of the Romanian bakery market, supplier to McDonald’s and other players in the HoReCa industry, opened a new production line at its factory near Bucharest in the spring and is now preparing to launch another one, as part of an investment of over EUR 100 million.
“We installed the first new product line at the end of last year, and in May 2024 we took over the building and started production. The second of the project’s 3 lines is currently being installed, with tests in December and production starting in January 2025,” says Viorel Ognean, Managing Director Lantmännen Unibake Romania.

For next year, forecasts indicate a turnover of EUR 50 million, and upon completion of the entire project, when the entire factory will have a total of 4 production lines, the EUR 100 million mark per year in terms of sales will be exceeded.

Source: Profit.ro

HORECA asks the Romanian government to reduce taxes on salaries

The Romanian Hospitality Federation asks the government to reduce taxes on employees’ salaries and incomes, maintain VAT at 9% for food and preserve holiday vouchers, warning that, currently, the entire HoReCa industry is at point 0.

“For the coming years, we either choose to eat from large chains or we choose to support small and medium-sized Romanian players. The Federation firmly asks the government to reduce taxes on employees’ salaries and incomes, maintain VAT at 9% for food and preserve holiday vouchers”, states a press release from the Federation of Hospitality Employers in Romania.

According to the organization’s president, Valentin Şoneriu, the industry is going through a difficult period, because not only have raw materials become more expensive, but there are cost increases on all levels.

“The industry is going through a difficult period, because not only have raw materials become more expensive, but there are cost increases on all levels, and this leads to very large increases, because the increases have a multiplier effect. Currently, very few businesses in this industry can survive, because it is becoming increasingly difficult to remain as competitive as before and to support prices,” said Valentin Şoneriu.
Source: economica.net

Romanian property tax remains the same in 2025

The government will postpone until January 1, 2026 the application of the new method of calculating the taxable value for buildings, based on the value from market studies, with the same property taxes to be paid next year, announced Prime Minister Marcel Ciolacu.

“We also have important news in the fiscal field and it is good news, not bad news! Next year, Romanians will pay the same property taxes! We have postponed until January 1, 2026 the application of the new method of calculating the taxable value for buildings, based on the value from market studies. Until then, the Ministry of Finance must build a specialized structure, and the Cadastre Agency is obliged to provide data to this structure,” declared Marcel Ciolacu, at the beginning of the weekly Government meeting.

Chic Chic Urban Fashion opens first location outside the Capital, in Iulius Town Timisoara

IULIUS is diversifying its portfolio of luxury retailers by drawing new partners. Chic Chic Urban Fashion, a multi-brand retail chain bringing together exclusive brands, recently opened its first location outside of Bucharest in Iulius Town Timişoara. Chic Chic Urban will also operate in RIVUS, the urban regeneration project that IULIUS Company is developing in Cluj-Napoca.

The opening of Chic Chic Urban Fashion in Iulius Town grants access to clients in the west of Romania to a diversity of high-end brands such as: JOOP, Zac Posen, John Galliano, STRELLSON, Maison Close, ISNURH, Patrizia Pepe, Herve Leger, IOS by Maica, Serge Pariente, HUDSON, Fabio Rusconi, My Best Bag Firenze, La Haine.

“We chose Iulius Town following a thorough analysis, due to its popularity and diversity, which perfectly lines up with our brand vision. This projects includes a wide range of stores, restaurants and services, drawing a large and diverse public. We believe that this location is an ideal stepping stone for our expansion into other key areas of the country, allowing us to reach an increasing number of clients and to offer them access to our exclusive collections, plus an exceptional shopping experience. We are delighted with the opportunities afforded by Iulius Town,” said Briana Baciu, Marketing Specialist, Chic Chic Urban Fashion.

The Chic Chic Urban Fashion retail chain operates two full price locations, two outlets and a Patrizia Pepe HUB in Bucharest, the store in Iulius Town marking the retailer’s first location to open outside the Capital.

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