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Private pensions and real estate draw record investments

10.08.2007, 20:30 7

The sum accounts for over 40% of the total capital increases operated by foreign companies during the first half of the year.
Capital contributions in the real estate sector held the biggest weight, amounting to 61 million euros.
The Spanish-held Gran Via company is the leader on this segment and in June added 54.8m euros to the capital of its two firms, namely Gran Via Ghencea and Gran Via Lujerului Imobiliare. The company recently paid 42m euros for the former Tricodava plant in the Drumul Taberei district of Bucharest, where it plans to build 2,100 apartments.
Previously, the Spanish investor bought the land and building of the former Frigocom plant in Drumul Taberei, which it intends to demolish in order to build 1,400 homes.
The Spanish group wants to build around 14,000 housing units within the next seven years in Romania, following overall investments worth around 1bn euros.
In the other "star" industry, the biggest capital injection was operated by ATE Bank Greece (the Agricultural Bank), one of the top players on the Greek market, which added more than 23m euros to the capital of ATE Bank Romania, the former Mindbank.
The first licences on the segment of privately managed mandatory pensions and voluntary pensions generated a capital flow towards companies operating in this field. In June, four such companies increased their share capital by over 18m euros.
Interamerican, a company managing a private pension fund, benefited from the biggest capital contribution, namely 6.2 million euros.
Pension companies that operated capital increases in June include Omniasig Pensii, owned by Israel's TBIH, which received a capital injection of almost 5m euros, and Prima Pensie Fond de Pensie, with the Slovenian Prva group providing 4.2m euros.
The value of foreign investments as contributions to the share capital of firms registered in Romania in the first half of this year amounted to 1.14bn euros, up 85% against the corresponding period of last year, in line with Trade Registry (ONRC) data.
Foreign investments as capital contributions to Romanian firms in June reached a value of 250 million euros, 28% higher than the value registered during the same period last year, namely 195.2 million euros, in line with data released by ONRC.

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