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17. 03. 10. - 16:00

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17. 03. 10. - 16:00

Bucharest 36th in the world for rents for industrial property

Romanian Times

Romanian capital Bucharest ranks 36th in terms of the highest rents for industrial property in the world, according to real-estate consulting company Cushman & Wakefield.

In 2009, occupancy costs in Bucharest for commercial rents for industrial property were 57 Euros per square metre per year, down from 60 Euros in 2008.

The report says all regions of the world suffered compressed rents for the first time in the report’s 15 year history in 2009.

At present, 10 to 12 per cent of Bucharest industrial property is for rent, up from four per cent in 2008.

In the ranking of the 49 most-expensive global locations, London Heathrow remained the most expensive at a cost of 200 Euros a square metre per year, around one-third more expensive than second place Tokyo at 152 Euros a square metre per year. Hong Kong was third at 146 Euros a square metre per year.

The world’s best-performing industrial locations in 2009 were in India, Gurgaon in New Delhi and Chakan in Pune, which recorded the biggest increases at 16.7 per cent and 15.4 per cent, respectively, the Cushman & Wakefield report says.

Health minister considers taxing fast food and beer
The new Health Minister Vasile Cepoi said today (Thurs) that the next Health Care Law might include a new tax on fast food and beer, local press informs.

Romania wont ratify ACTA
Romania will not ratify the highly controversial (Anti-Counterfeiting Trade Agreement)ACTA until the agreement won't be altered as to comply with demands recently formulated by the European Court of Justice, the minister of Communication Dan Nica told a press conference today (Thurs).

Romania wont ratify ACTA
Romania will not ratify the highly controversial (Anti-Counterfeiting Trade Agreement)ACTA until the agreement won't be altered as to comply with demands recently formulated by the European Court of Justice, the minister of Communication Dan Nica told a press conference today (Thurs).

Government to introduce ‘Robin Hood’ tax on oil companies
Minister of Economy Daniel Chitoiu announced today (Weds) that the government is working on a piece of legislation on introducing a supplementary tax on the exceptional incomes of the oil companies that should be passed by the year end and implemented as of 2013.

Education Minister stepps down amid plagiarism accusations
Ioan Mang, the education minister appointed only two weeks ago together with the new cabinet of Social Liberal Union (USL) leader Victor Ponta, resigned Tuesday (yesterday) night.

Brancusi’s son doesn’t want his father remains to be moved to Romania
John Moore, the only child of sculpture Constantin Brancusi, reacted to Romania’s intention to repatriate the remains of his father, saying his last will was to be buried in Paris at Montparnasse, Libertatea newspaper informs today (Weds).

Romania back in recession, growth to resume in H2
Romania officially entered recession today, following the figures published by the National Statistics Institute (NSI) that show a decrease of the GDP for two consecutive quarters (Q).

Police head sacked over underground boss runaway row
The head of the Romanian Police Liviu Popa (picture) was sacked today (Tues) by Home Affairs Minister Ioan Rus, the ministry informs.

UK Ambassador Harris says new Cabinet took right decisions so far
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Carmen Sylvas x-rayed hand to be auctioned
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