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3rd Annual Real Estate & Construction Conference for CSEE
Foundation for Success
23. February 2007
Novotel Hotel, Bucharest, Romania
With the Honorary Support of the Ministry of Transports, Constructions and Tourism of Romania
Order your CD copy of Conference Proceedings
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This unique conference on real estate and construction industry in CSEE addressed the most recent trends on the real-estate and construction front. Attendees were able to hear how the governments promote and facilitate real estate and construction development in the region from government representatives of Bulgaria, Austria and Romania.
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On the 23rd of February 2007. EastEuro Link hosted its 3rd Real Estate and Construction Conference for Central and Southeast Europe, this year focusing on the most relevant topics from Real Estate and Construction industry. The conference took place in Novotel Bucharest Hotel Romania, bringing together high government officials and crucial industry players of this industry sector.
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H.E. Mariana Ionita, Personal Advisor to the Minister of Transports, Construction and Tourism of Romania welcome addressed participants on behalf of Romanian Ministry of Transports, Construction and Tourism and wishing them a pleasant stay in Bucharest. Ms. Ionita evaluated the conference as very important for regional integration and improvement in main Real Estate and Construction fields.
Overview of the CSE Europe’s Mortgage Markets was given by Ms. Jennifer Johnson, Advisor, and European Mortgage Federation and by Euro - Hypo AG representative. Ms. Johnson explained that mortgage market has more than doubled in size over past 10 years. She explained that in EU 50% of the mortgage markets is represented by Germany and the United Kingdom. In CSEE the largest mortgage market is in Poland. It accounts 0, 3% of the total EU market. The strongest growing in mortgage markets was in Serbia. She also considered the legal framework for successful mortgage markets integration.
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Mr. Marin Cotescu, General Director from General Directorate for Development in Construction, Ministry of Transports, Construction and Tourism, Government of Romania. Mr. Karel Zdenovec, Commercial Counselor of the Czech Republic to Romania and Mr. Peter Hoflechner, MRICS, Representative of BIG, Bundesimmobiliengesellschaft mbH were the first to address the participants examining the role of governments in promoting and facilitating real estate development. The accent was on the main ways of the governmental support in construction and housing through various types of subsidies and donating repairs as well as on the importance of mediation between public and private sector. |
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Financing Options for the CSEE Property Markets was presented by Mr. Gabriel Ionita Senior Irrigation Engineer of World Bank of Romanian Office emphasizing the World bank investments in eight projects of total value of 1,4 bln.€. Some of them are: seismic retrofitting of public buildings, rehabilitation of main roads, new/rehabilitation of buildings for courts, irrigation canals, pumping stations etc.
The participants agreed on the importance of the construction sector for the economies for there is obvious connection between activity on housing sector and considerable reduction of unemployment.
Mr. Valentin Feodorov, Vice – president of ARACO Romania, presented ARACO as non – political, federative, employers’ society with over 1200 member construction companies. One of the aims of this developers’ association is to protect the interests of the construction profession in Romania at national, European and International level and to generate and optimize new company groups on a national and regional level.
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The chairman of the conference Mr. Ovidiu Chiorean, Manager Financial Advisory – Real Estate Service Line Deloitte Romania pointed out that Deloitte as the leading provider of financial advisory services to companies and private equity funds in a variety of sectors is now days more focused on the real Estate financial advisory services because of the lower cost of capital and increasing banks competition.
Once again, EastEuro Link confirmed that the regional conferences bring together the most important parts of the industry. Even during only one day, the conference participants succeeded in placing many important questions and giving some answers that are of importance for the development of the real estate and construction sector in the region.
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