Business Review

Investment fund Interprime Properties, part of Swedish group Ikea, has bought the platform of Timpuri Noi’s plant in Bucharest for EUR 34.6 million, the latter has announced. The plot consists of over 51,000 sqm, and is located at Splaiul Unirii 165.

Developer Krammer & Wagner has announced the launch of three Family Center commercial galleries in Botosani, Giurgiu and Ramnicu Valcea. Family Center is a project built by Real4You in partnership with Oasis Consulting. In all thee locations, the center will be anchored by a Kaufland store.

SC Allianso Business Park SRL, the Romanian subsidiary of Alinso Group, has sold Lufkin Industries a 33-ha plot in Ploiesti West Park. The Texas-based oil company plans to build a USD 126 million manufacturing facility which will employ 300 people by 2012.

Namco Bandai Networks Romania is moving to Riverplace, in the Atrium House building, from this summer. The transaction was done through consultants The Advisers/Knight Frank. The company has leased 1,418 sqm on the third floor of the building, which is owned by Austrian investment fund Europolis. The contract has been signed for a five-year period. From November 2008 to June 2010 the company was headquartered in Global Business Center, where it had a 1,600-sqm space.

Retailer Billa, part of Rewe Group, has opened a new supermarket in Oradea. The move takes the German group’s network in Romania to 51 units.

Real estate investment fund Black Sea Global Services (BSGS) and Quintet Asset Management, controlled by businessman Dinu Patriciu, have been merged into a new company, DinuPatriciuGlobalServices (DPGS). The newly founded firm will manage a property portfolio estimated to reach EUR 1.3 billion.

Alexander Hergan has left the helm of developer Avrig 35. The former CEO is replaced by Haydn Wright, appointed upon recommendation of the Taverners Group, one of Avrig 35’s institutional shareholders. Along with Hergan, a senior management team implemented in response to the global financial crisis and tough economic conditions in Romania is also parting company with the developer.

Billa Romania will open a new supermarket in Resita, in Caras Severin county. With this new opening, the retailer will have a network of 50 units throughout Romania.

US Food Network, the operator of the KFC franchise in Romania, will open a second branch in the Winmarkt network. Located in the Winmarkt Dacia center in Buzau, the 300-sqm outlet is on the ground floor. The company has signed a lease for five years, and the fast food store is set to open this month.

Construction company Somaco has reported 20 percent higher prefab sales in the first half of 2010 compared to the same period of last year, following the introduction of an integrated offer for building structures.