Bucharest Has EUR300M Worth Of Tradable Property - DTZ Echinox

05.19.2011 By Andrei Circhelan

Realty projects currently available in Bucharest could generate transactions worth more than EUR300 million, Thursday said Cristian Ustinescu, investment director at real estate consultancy firm DTZ Echinox.

"Projects up for sale include (retail park) Vitantis, Arena Mall or the Lakeview office building. (…) Highly active buyers include the funds Bluehouse (Cyprus) and NEPI (South Africa)," Ustinescu said at a realty conference.

He added there are attractive projects outside Bucharest as well, and investor sentiment regarding Romania has improved this year.

Another source for real estate transactions, according to Ustinescu, would be the assets put on sales by banks following restructuring or bakruptcies, one such example being Bucharest's City Mall.