Tarom wants to “open” Brasov-Ghimbav International Airport

Tarom wants to “open” Brasov-Ghimbav International Airport 800 600 ROMANIA PROPERTY CLUB


The first commercial aircraft that will land on the runway of the new airport in Brașov will be a Romanian one, belonging to TAROM”, said Mihăiță Ursu, general director CEO of TAROM, during the discussions held on Monday with Adrian Veștea, the president of the Brașov County Council, and with Alexandru Anghel, the general director of Brașov-Ghimbav International Airport.

The consolidated schedule of activities regarding the opening of the Braşov-Ghimbav International Airport, agreed by the Braşov County Council, together with ROMATSA and the Romanian Civil Aviation Authority, provides that the airport will be operational in mid-June next year.

At Monday’s meeting at the Tarom headquarters, it was agreed to identify sustainable options for TAROM to be able to operate flights between Bucharest and Brasov, which could be possible at the end of next year at the earliest.

“TAROM carefully follows the market and once again proves to be a reliable partner of Romanians and beyond. We can discuss the operation of flights between Bucharest and Brașov and return, this only if the infrastructure of the future airport will allow it, emphasizing the conditionality that between the airport and the center of Brașov there should be, on a regular basis, integrated passenger transport services, but also the availability of services of the rent-a-car type for future passengers”, added the CEO of TAROM.

Radisson Blu Aurum Hotel opens in Brasov in October, after an investment of EUR 16.3 million

Radisson Blu Aurum Hotel opens in Brasov in October, after an investment of EUR 16.3 million 420 250 ROMANIA PROPERTY CLUB


After 34 months of work that involved a team of 250-400 people monthly, Radisson Blu Aurum Hotel opens its doors in Brașov on October 16. The total investment amounts to 16.3 million euros, almost 3 million euros more than the value initially estimated. The hotel in the centre of Brașov rehabilitates a building in an advanced phase of decay and becomes a landmark for premium tourist services.

110 elegant rooms, an event hall with a capacity of 150 people, a restaurant with a terrace, a skybar, swimming pool, SPA, charging stations for electric vehicles, monitored parking – these are some of the facilities that Radisson Blu Aurum Brașov will offer starting this October.

The 5-star hotel in the centre of Brașov combines the old and the new in an elegant symbiosis, preserving some of the features of the original building, built in 1930, but also a fragment of the Brașov citadel – discovered during the execution works. The hotel brings with them a premium design, with exceptional details and a superior quality of services. Accommodation prices start from 125 euros/night.

The target audience for our hotel is a client with high expectations, accustomed with the standards of quality tourism. Brașov is the most visited city in Romania, therefore the opening of a chain hotel offers the opportunity to increase the level of premium services in the Brașov area. We expect Radisson Blu Aurum to be a destination not only for leisure tourism, but also for business, considering the dynamic economy of the area, stated Anca Cristea, General Manager of Radisson Blu Aurum.

Investment increased by the pandemic and the complexity of the project.

The investment in the newest hotel in Brașov amounts to 16.3 million euros, although it was initially estimated at 13.6 million euros. The difference comes from rising costs in both the building materials and labour segments amid the pandemic context and market volatility. The investment was financed through Exim Bank by RaRa Group, owners and developers of the hotel.

In the development and design phase of the investment, which lasted 4 years, more than 120 specialists from various fields were involved. Then, during the almost 3 years of execution works, between 250 and 400 people were involved monthly, and more than 100 local companies with high expertise in their field were contracted. Among the significant challenges of the project is the discovery of the fortress wall, initially perceived as an extreme situation, which then turned into an opportunity to highlight part of the city’s ancient history.

Starting with the excavations of the building built in the 1930s and 1960s, more than 1000 tons of materials were evacuated, and more than 650 tons of reinforced concrete were used for consolidation. If we calculate all the quantities handled in our project, we exceed 3000 tons of materials and over 850 deliveries with different types of vehicles – stated Ramona Neamțu, owner of Radisson Blu Aurum Brasov.

Radisson Blu Aurum aims to contribute to the development of the local economy not only by raising the level of local tourist services, but also by becoming an important employer. The hotel team will have more than 70 employees, and this has already been finalized in proportion to more than 75%.

VGP’S Half Year Results 2022

VGP’S Half Year Results 2022 420 250 ROMANIA PROPERTY CLUB


VGP NV, a European provider of high-quality logistics and semi-industrial real estate, recently, announced the results for half-year ended 30 June 2022.

VGP reports an increased operational yield with a net profit of EUR 153.1 million, newly signed as well as renewed leases worth EUR 35.4 million, leading to EUR 281.1 million total annualized revenues (+9.7 % YTD)1. A total of 1,346,000 m2 under construction, within 40 projects that once built and leased represent EUR 88.1 million of additional annual rent (87.4% are pre-leased areas).

In Romania, at the end of the first semester, 4 buildings were under construction on an area of 102,000 m2, in different areas of the country: VGP Park Arad, VGP Park Brașov and VGP Park Bucharest.

VGP’s Chief Executive Officer, Jan Van Geet, said: “In the first half year we have seen robust growth with € 35 million of new or renewed lease agreements signed and supported by significant rental growth in most countries. This growth was realised despite a more prudent approach by e-commerce sector of which a number of major players have shifted their take-up focus towards 2024 and beyond.”

Jan Van Geet continued: “The unstable energy markets have not only given a significant boost to our renewable energy revenue potential, it has also served as an accelerator in our tenants’ desire to switch to renewable energy consumption. Beyond the traditional stronghold countries of Germany and the Netherlands we are now initiating solar projects in almost all regions based on direct tenant demand.”

Jan Van Geet added: “Although we have taken a more cautious approach to our land acquisitions during the first half of the year, an important side effect of these unstable energy markets is that it creates tremendous growth opportunities for us. After all, it accelerates the need for energy-inefficient industries to reinvent themselves and move to more sustainable and energy-efficient housing and operations. One of the side effects of this is that they are putting their old factories, mostly in prime locations, up for sale which consequently offers interesting brownfield redevelopment opportunities for VGP.”

Jan Van Geet concluded: “A strong capital position is important, particularly as such highly attractive brownfield opportunities start to increasingly arise. The significant cash recycling through the completed and anticipated joint venture closings enhances our balance sheet and allows us the flexibility to best serve our whilst enabling us to create significant value for all stakeholders involved.”

VGP has been present in Romania since 2007, and develops industrial parks in Bucharest, Arad, Brașov, Timișoara and Sibiu. VGP Park Bucuresti Nord is developed on a plot of approximately 250,000 m2 and will have a total leasable area of approximately 120,000 m2 divided into 4 buildings. VGP Park Arad, developed on a land of 39 ha, with a rental area of up to 200,000 m2, is strategically positioned in Arad, the most important road junction in the west of the country, part of the IV Pan-European Transport Corridor. VGP Park Brașov is developed on an area of approximately 320,000 m2 and will have a total potential of 140,000 m2 of space available for rent. VGP Park Timișoara is fully rented, with possibilities for expansion.

Cinema City opens a multiplex in AFI Brasov. The investment reaches € 7 mln.

Cinema City opens a multiplex in AFI Brasov. The investment reaches € 7 mln. 1063 560 ROMANIA PROPERTY CLUB


Cinema City, the largest operator of cinemas in Romania, opens its doors for moviegoers in Brașov, the new multiplex cinema being located in the center of the city, in the AFI Brașov mall.

The 28th Cinema City multiplex awaits its viewers in an ultra-modern space that includes 8 rooms equipped with innovative technology at the highest standards, fully digitized, with impeccable sound and image, of which 7 rooms for watching movies in 2D and 3D format, as well as a hall with the special 4DX format, which will allow viewers to experience movies with all their senses. The value of the investment amounts to 7 million euros, being supported by Cinema City together with the developer of the shopping center.

“Spectators will discover for the first time the new standard of exceptional comfort in cinema viewing: the new luxury armchairs with a design adapted to a perfect position, easy to adjust thanks to the folding backrest; ergonomic shapes, premium sustainable materials, which contribute to the faithful reproduction of the lumbar curvature. And for the ultimate relaxation, the 1,044 Cinema City armchairs are equipped with a double holder for drinks and snacks”, say Cinema City representatives.

What does 4DX technology mean?

4DX technology allows viewers to be part of the movie 100%, with the action on the screen being synchronized with the special effects. Mobile seats, ambient solutions and state-of-the-art sensory effects (water, wind, movement and smell) will offer Brasov moviegoers a memorable cinematic experience.

The sixth 4DX cinema in Romania out of the 755 international ones is now open to the residents of Brasov, and the 140 sensory seats will help viewers experience the productions of the moment to the fullest. In the 4DX hall, viewers can feel 21 sensations – aromas of coffee or roses, strong wind, intense lightning, splashes of rain or snow.

“We are extremely happy to open for Brasov residents a spectacular cinema space at the same standards offered by Cinema City in any European capital and city where it is present. Regardless of whether we open in London, Belfast or Brașov, there are the same standards in all the more than 9,000 cinema halls and 750 cinemas in the world. Although we have gone through a challenging period, the Cinema City team honors its promise to offer the best cinematic experiences and inaugurate in the month of love, the most modern multiplex in Brașov”, said Ioana Ionescu, Cinema City Marketing Manager.