2007 real estate investments boost Romania to 3rd position in Central & Eastern Europe

Real estate investments reached 2.2 billion Euros in Romania last year, placing the country on the third spot in Central and Eastern Europe, according to real estate consultancy company Jones Lang LaSalle (JLL).

Investments rose 144 percent in Romania last year against the previous one, according to JLL's analysts. About 49 percent were transactions on the retail market, 34 percent on the office market, 8 percent on the logistics market and 8 percent on the hotels market.

The most important transactions last year include Polus Center Constanta's acquisition by Immoeast for 185 million Euros, America House's acquisition by AEW Europe for 120 million Euros and S-Park's acquisition by Immoeast for 101 million Euros. On the logistics market, Cefin sold the industrial park A1 to Valad (former Teesland IOG) for 70 million Euros and the Logistic Cefin Arad Park to Europolis for 34 million Euros.

Investments in Central and Eastern Europe, excluding Russia, reached 11.2 billion Euros last year, showing a 13.9 percent increase over 2006. In Poland, investments dropped 36.4 percent last year, while in the Czech Republic they went up 73 percent.

Jones Lang LaSalle provides consultancy services for acquisitions and sales, investments and real estate management. It counts more than 150 offices in 50 countries. The company posted 2 billion U.S. dollars revenues in 2006.