Properties Investments

Volvo Trucks’ Romanian subsidiary, Volvo Romania, has received another major order from transport and logistics company Alin Trans Impex. The order covers 350 trucks, which is 50 more than last year. Delivery of the new trucks will be completed in 2007. Alin Trans Impex’s truck fleet will include 1150 modern Volvo trucks by the end of this year. The company’s first major acquisition of 100 Volvo FH12s was undertaken in 2000.

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The sovereign rating of Romania Baa3 reconfirmed on June 1, which is the first investment level, on Moody’s rating scale, could attract more funds from foreign companies or from the European Union, the General Manager with Moody’s for Central Europe, Petr Vins stated for Rompres. “Romania is thus for the first time on the first investment level according to the financial rating assessment of our company. Which means that the risk of payment delays or of payment failures is of approximately 30 per cent in 10 years, which is definitely better than the rating standing at speculative level, as well as the fact that Romania is on a good path towards EUR.

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In Q1, the number of foreign tourists visiting Romania went up 9 per cent to 256,000 persons, against last year’s similar period, announced on Thursday the National Statistics Institute (INS).

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Romania property news and rss feed April 2007

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Large castle, views, previous owner undead: Transylvania's Bran Castle, which inspired Bram Stoker's tale about Dracula, is for sale. Owner Archduke Dominic Habsburg says its upkeep would put him in the red. It's not every day that somebody puts a "for sale" sign on Dracula's castle.

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Immoeast, the most active investment fund in Romania, will invest 1.5 billion euros on the Romanian real estate market within the next two years. "The volume of Immoeast investments in Romania could reach 25% of the total 6 billion-euro investment programme started on January 1, 2007.

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The European Investment Bank (EIB) has granted in the 14 years of activity in Romania more than 4.9 billion euros for the funding of some long-term projects supported by the European Union.

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