The largest developers in Romania- Baneasa Investments, Neocity Group, Cefin Real Estate Asset Management, River Invest, TriGranit Development (main partners) and Avrig 35, all took part in MIPIM, the real estate fair held in Cannes last week.
Bucharest's stand at the fair, which took place between March 11-14, attracted a large number of investors that are interested in entering the Romanian market because it is one of the few markets still unharmed by the international crisis, due to the supply/demand gap in the housing, commercial, offices and industrial sectors.
"The Romanian market presents plenty of opportunities for investment funds, but for the time being it is the small and medium sized investors that will continue to dominate, with major players expected to arrive in the coming years and take over the portfolios developed by funds that operate on the market," stated Larisa Dinu, marketing & communication manager at River Invest, the developer behind Bucharest's Sema Parc real estate project.
"The real estate crisis has had positive effects on the domestic market because it has attracted capital from investors who are interested in entering a market that has a wide gap in supply/demand, as well as higher profits compared with the West (...)," explained Ion Catutoiu, general manager of Real Time consultancy.
For several Romanian-based businessmen, MIPIM was a good opportunity to attract investment funds as partners in domestic projects.
Bucharest City Hall was present for the first time with a stand. The costs of having a stand at MIPIM revolve around 400,000 euros, a sum the City Hall recouped after it attracted 7 real estate developers, sources revealed.
Adrian Bold, Bucharest's chief architect, says participation at such a fair is bound to boost Bucharest's image because a large number of investors still do not know a great deal about Romania's capital city.
MIPIM
One of the world's largest real estate fairs
Held in Cannes between March 11-14
This year, the number of participants amounted to 26,200, up 22% on the previous year, with 100 companies from Romania
Bucharest's stand attracted a large number of investors that are interested in entering the Romanian market
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