LAND
The average price for one hectare of arable land stood at RON 39,704 in Romania in 2022, with the lowest average price being recorded in the North-Eastern region (RON 34,743) while the Bucharest-Ilfov region recorded the highest value (RON 59,263) the National Institute of Statistics (INS) data showed.
HOTEL
Radisson Blu in the city of Cluj-Napoca in northwestern Romania will end 2023 with a turnover of EUR7.3 million-EUR7.4 million, in line with the projected level. The five-star hotel was developed by Winners Park Invest and opened in June 2022. It has also started the construction of the foundation for a new hotel wing.
INVESTMENT
Real estate investment trust Star Residence Invest (REIT.RO), established by real estate developer Impact (IMP.RO), has informed Bucharest Stock Exchange (BVB) in a report about the purchase of a 25,024-sqm land in Bucharest, on Dec 20. Impact was listed on the BVB in 1996, whereby IMPACT has become the first real estate developer and constructor company listed on the local capital market.
