Archive for the ‘General’ Category

Romania, Bulgaria may join EU in 2007

Monday, September 25th, 2006

The European Commission will permit [tag]Bulgaria[/tag] and [tag]Romania[/tag] to join the European Union next year, but the two countries have been warned they face losing millions of euros in membership benefits.

A progress report by the EU executive due for Tuesday will encourage the two Balkan nations to join the EU in January 2007, but it will propose the tough entry conditions on the newcomers.

The mixed message from Brussels reflects widespread public unease about further enlargement of the 25-nation bloc.

The conditional sanctions are meant to reassure critics of enlargement who say the countries are too poor, corrupt and weak to cope with EU membership, officials say.

Anti-government rallies in Hungary, as well as the break-up of a coalition government in Poland, have raised concerns over the admission of east European countries.

The commission may consider excluding Bulgaria and Romania from some EU policies unless they meet reform targets laid out in the report.

Jose Manuel Barroso, European Commission president, and Olli Rehn, EU commissioner for enlargement, will visit Bulgaria and Romania on Tuesday and Wednesday to explain the EU recommendations.

The EU executive cites “a number of areas … where the commission will initiate appropriate measures to ensure the proper functioning of the EU, unless the countries take immediate corrective action”, the draft report said.

Those include corruption and organised crime, especially in the case of Bulgaria, weak courts and state administration and insufficient food safety standards.

Historical wave

Nevertheless, the two countries will receive a boost on entering the EU bloc. Both are expected to sustain their already impressive growth rates, bring in foreign investment and encourage tourism.

Traian Basescu, Romania’s president, said: “Only with this will the biggest historical wave of EU enlargement be completed – a direct consequence of the collapse of communism.”

By raising the possibility of withholding some membership benefits if the two countries are not up to scratch, Brussels is also seeking to smooth ratification in national parliaments that have not yet approved the accession treaty, notably Germany.

Rehn decided that delaying membership until 2008 would humiliate the countries and prompt an anti-EU backlash. It would also reduce Brussels’ leverage with Bucharest and Sofia.

EU diplomats say that after the entry of Bulgaria and Romania, the rate of expansion will slow.

Croatia is next in line.

Source: aljazeera.net

Ukraine Realty & Property Exhibition

Wednesday, July 19th, 2006

The organizer of the exhibition forum «Investate 2006», which is scheduled to take place from October 10 to 13, 2006 in the International Exhibition Centre situated: in Kiev, at 15 Brovarskoy Avenue, invites your company to take part in the exibition.

The goal of realty & financing. Aspects 2006 is to provide all interested persons with full professional information and services concerning purchase, loan financing, sale and lease of realty; investment, insurance and valuation of the property, as well as legal aspects involved, in Kiev as well as in other regions of Ukraine and abroad. Another goal of the exhibition is consolidation of the market, for consumer financial and credit services on the real estate market, as mortgage lending develops very fast.

Presented at the exhibition forum will be leading building, investment, insurance companies, banks, real estate centers, and law firms. The exhibitiors will have an opportunity to present to the consumers advantages of their company, to find business partners and clients for future cooperation, advantages of their company, to find business partners and clients for future cooperation, and to conclude new contracts.

Main topics of the exhibition:

 Building investments
 Loan financing: consulting, advice and loan terms offered by different financial organizations
 Expert examination and valuation of the property
 Property insurance
 Purchase, sale and lease of the residential and commercial property
 Ground areas (landscape)
 Realty abroad: legal and realty consulting and advice
 Project elaboration and design, etc

Property & Real Estate Forum

Tuesday, July 18th, 2006

Discuss property and real estate investing with like minded people at TalkFinances.com

Romania Real Estate Consulting Mkt Rises by 30% m/m

Tuesday, June 20th, 2006

The real estate consulting market, except for the intermediary services, increases by about 30 percent a month. The market surveys, the evaluations and the administration of real properties are services that have just entered the Romanian market, but which have a spectacular development with the evaluations of properties having the highest demand, ACT Media news agency reports. The biggest demand in Romania is evaluations of properties.
Darian Company, which is specialized in all sorts of evaluations, posts 70 percent of the company’s turnover from evaluations of properties and from market and feasibility studies used for real estate projects.
“Ninety percent of the real estate consulting services offered by Darian Company are property evaluations, while the rest of 10 percent are feasibility studies for propriety development or for business plans,” Capital journal quoted Darian’s manager Adrian Crivii as saying.
In the context of the market’s development, the turnover increased in a spectacular way: EUR 1 mln in 2005 and over EUR 280 000 in the first three months of this year only.
The big real estate companies in Bucharest (which have recently changed their name into “consulting companies”) make good money from other services than from the brokerage services.
Most of these companies have international experience: Colliers, DTZ Echinox, Richard Ellis.
Over the first three months of this year, Echinox registered a monthly increase of 30 percent on the property evaluation segment.
They evaluated properties worth approximately EUR 120 mln.
Currently, the real estate consulting market lacks transparency and it is hard to estimate its total value, specialists agree.
However, according to Adrian Crivii, the property evaluation market only is estimated at EUR 7 mln for 2005 and at over EUR 8 mln this year.
The real estate consulting market is estimated at nine million euros in 2006, out of which the real estate evaluation market only will amount to over EUR 8 mln.

Source: Nine o’Clock

Publish Eastern Europe Property Articles

Friday, June 2nd, 2006

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SPANIARDS TO BUILD 2 GOLF COURSES NEAR SOFIA

Monday, March 27th, 2006

Spanish investors will build a housing complex with two golf courses in the village of Kutina, near Bulgaria’s capital.

Early Friday morning Sofia mayor Boyko Borissov signed a contract for the building of the complex with Manuel Ferri Sanchez, owner of Ferri Group.

Over EUR 150 M will go into the complex that will also have a hotel and houses and will provide for 2,000 work places during construction

Everything could be built in a year, Ferri Sanchez said. He added that once it opens, the complex would offer employment for about 700 people.

To finalize the deal Spanish Ambassador to Sofia Fernando Arias handed down to the capital’s mayor a cheque worth of BGN 2.6 M (approximately EUR 1.3 M).

EU “FREEZES” ENLARGEMENT AFTER 2008

Saturday, March 25th, 2006

The European Union will halt the enlargement process for prolonged period of time upon accession of Bulgaria and Romania, according to several news agencies.

The decision was reportedly made at the session of the Council of Foreign Ministers, held in the framework of the EU top-level meeting in Brussels.

Bulgaria is also represented at the forum with its Foreign Affairs Minister Ivaylo Kalfin.

Though the enlargement dossier was not officially on the agenda of EU foreign ministers meeting at dinner on Thursday, the invitation to EU Enlargement Commissioner Olli Rehn seemed to be quite conspicuous.

The ministers have agreed to freeze further expansion of EU until European Constitution or other document relating reforms of the existing structure of the Union is adopted.

“Absorption capacity” was also discussed by the foreign ministers, who determined the issue would be examined more thoroughly “in time.”

Second Annual Real Estate and Construction Conference

Thursday, March 23rd, 2006


Property Eastern Europe

EastEuro Link is proud to invite you to its forthcoming international forum on real estate and construction for the region of Central and Southeast Europe. Following the successful concept of bringing together regional government representatives and key industry figures, this event is tailored to provide knowledge and tools.

the Second Annual Real Estate and Construction Conference for Central and Southeast Europe

REGION UNDER CONSTRUCTION

Hilton Hotel, Sofia, Bulgaria
31. March 2006.

www.realestate.easteurolink.co.uk

Hear the very latest about the real estate and construction industry development in Central and South Eastern Europe. Don’t miss the opportunity to meet CSEE key stakeholders and discover the long-term vision for this rapidly transforming region. The conference will provide a superb opportunity to gather information and build new business relationships with the key players in the CSEE market.

Who will come?

· High Government Officials

· International Real Estate and Construction Organizations

· Property Developers

· Project Managers

· Financiers & Lenders

· Portfolio and Fund Managers

· Lawyers in the practice of real estate and property development

· Investment Advisors and Consultants

· Hedge Funds

· Insurance Companies

· Investment Executives

· Regulators

· Prime Brokers

Key topics to be discussed:

· The Role of governments in real estate and construction development

· Market regulations and legislative development in CSEE

· Comparison of investing in commercial, residential, industrial and infrastructure sectors

· Comparison of investment opportunities in different CSEE countries

· Overviews of real estate and construction markets in the region

· Financing issues for investing in CSEE property markets

· PPP environment in CSEE

· Future trends in property development and investment in CSEE

Network with your peers, competitors and future partners at the leading event for those interested in meeting the key players in the local market.

For the latest information regarding list of speakers and agenda visit
www.realestate.easteurolink.co.uk

Exceptional promotional opportunities available now!

TO BOOK YOUR PLACE, please contact Ms Alexandra Z. at:

Tel:+381 11 328 6 515

Fax: +381 11 20 26 115

e-mail: alexandra.zivkovic@easteurolink.co.uk

All attendees at the conference will receive a FREE CD ROM of conference material containing ministerial presentations and other conference material.

PropertyandInvesting.com

Wednesday, March 15th, 2006

If you are in the property or investment business for a limited time only you can add your site to this new directory for free

www.PropertyandInvesting.com

Moscow Risks Are High But City Still Rates ‘Buy’

Tuesday, February 14th, 2006

A report on investors’ sentiments toward real estate markets across Europe has found strong “buy” recommendations for all property types in Moscow.

But although the Russian capital ranked second for capital growth and development prospects, it came in 26th — or second-last — in the risk-adjusted total return ratings, according to “Emerging Trends in Real Estate, Europe 2006,” published at the end of January by the Urban Land Institute and PricewaterhouseCoopers. The report reflects the views of more than 300 investors, developers and property companies who were either personally interviewed or completed surveys.

Even though Moscow finished toward the bottom of the pack overall, respondents positively evaluated all the city’s property types, especially industrial. Moscow suffered in the rankings largely because of its poor risk ratings, with respondents rating it the highest-risk city of all 27 in the survey.

The industrial “buy” recommendation jumped from 45 percent of respondents in 2005 to 74 percent in 2006. The warehouse sector is underdeveloped with “incredible demand,” one respondent said. Retail and warehouse vacancy rates have been declining since 2002.

The study found demand is increasing for a high-quality Class A office space. Class A office vacancy rates have steadily declined over the last two years.

One of the most notable changes from last year was the growing number of investors now prepared to take a development risk. In some Central European cities, risk-taking is the only way to obtain a high-quality product, the report said, adding that “speculative development is making a comeback.”

Paris received the highest ranking overall, with top marks for its size and liquidity. London was ranked second, with investors in all property sectors wishing to buy or hold in 2006. Helsinki jumped from sixth place last year to third place this year, followed by Madrid in fourth place and Barcelona in fifth, up from eighth last year.

The search for property investments and development is now spreading to many second-tier property markets, with respondents frequently mentioning cities in Cyprus, Croatia, Ukraine, the Baltics, Slovenia and Romania.

According to one interviewee active in Russia and other CIS countries, the need remains “for the market to become more transparent and open; people should feel more comfortable that there are fair, open, clear rules.”