9th June
2007
North East UK firms invited to tap into overseas water sector
North East firms are being invited to tap into a world of opportunities in the
water sector at a special event next week.
UK Trade & Investment will be hosting an International Water Clinic at NOF
Energy offices, Washington on Friday, 22 June, from 9am to 12.30pm.
Representatives from UK Trade & Investment's Water Team will be on hand along
with Commercial Officers from several key market countries including Bulgaria,
China, India, Romania, Hungary, Poland and Turkey.
Tom Burnham, one of UK Trade & Investment's International Trade Advisers,
said:
"This sector offers a wealth of opportunities for businesses and this event
brings representatives from a variety of markets together in one place to allow
delegates to explore the potential.
"China plans to spend $125 billion on water treatment and recycling over
the next five years opening the door to foreign investment and participation in
its water market. The World Bank has also approved Euro 160 million to help local
governments in Romania develop their water infrastructure.
"Meanwhile, in Central Europe, countries are investing in their water sector
to bring them into compliance with the EU Water Framework Directive.
"Our event not only highlights these opportunities but offers advice on how
companies can tap into the market and secure contracts in these countries. Our
specialist Commercial Officers can give an insight into doing business in these
key markets, understand what opportunities exist and gain access to local business
networks.
"We'll also be able to highlight the range of support services that UK Trade
& Investment can offer to help companies succeed in business overseas."
To book your place or for more information about the range of support services
available through UK Trade & Investment to help your company succeed overseas
call the North East International Trade Hotline on 0845 05 05 054 or email: enquiries@ukti.rito.co.uk.
Source: UK Trade & Investment
Two new EU members enjoying property boom
Buzesti Street used to be one of the shabbiest parts of Bucharest with crumbling,
Communist-era structures and one of the city's roughest markets. Now, gleaming
multistory buildings have turned the area into one of the capital's new business
centres — testimony to a property boom sweeping Romania and Bulgaria, the
newest members of the European Union.
The sounds of construction reflect the unprecedented demand for real estate in
Romania and Bulgaria — some property prices have more than doubled in the
last three years. And analysts say there's no end in sight to a boom fuelled by
domestic demand, increased tourism and foreign investors. It's a far cry from
the 1990s when mortgage lending was not permitted and banks languished under state
control in both countries.
Prices for apartments in Bulgaria increased by an average of 15 to 20 percent
in 2006. In Romania, values rose at an average of 8 to 10 percent. But in some
parts of Bucharest and Sofia, the increases are much higher, with rates of return
on investments among the highest in Europe. Last year, 80,000 people in Romania
and 31,000 people in Bulgaria also signed up for mortgages. Interest rates in
both countries range from 7 to 9 percent.
Marian Tudor, a Bucharest real estate dealer, said there's been an exodus among
Romanians away from the crammed apartments that were prevalent under Nicolae Ceausescu,
the former dictator who was overthrown and executed in 1989. "Everyone wants
to move out of the drab Ceausescu buildings," Tudor said.
Mike Lloyd, chief executive for a $1.55 billion real estate development in the
Baneasa district north of Bucharest, said Romanians simply will not stand for
inferior homes anymore.
"What would have been put up with years ago won't do any more: You could
build rubbish and tell them it was great and they would believe you," said
Lloyd.
Some believe prices for Romania's vast swaths of agricultural land could also
see staggering price increases of up to 40 percent this year if foreign investors
continue to swoop in. Prices for land with development potential could also shoot
up by 20 to 25 percent this year, said Radu Zilisteanu, spokesman for the Romanian
Association of Real Estate Agents.
Source: The Diplomat
Wizz Air expands services between UK and Romania
Wizz Air, the east and central European budget airline company, has announced
the launch of a new route between the UK an Romania.
Property investors in the south of England could be boosted by the news that the
airline will be running a new service between London Luton and Targu Murges from
October 30th 2007.
Wizz Air stated that the route - which will run three times per week, will "complement"
the existing routes between the UK and Romania, which includes Bucharest.
A statement from Wizz Air read: "After the recent announcement of new flights
to Valencia, Parma and Liverpool from Bucharest, Wizz Air now launches its newest
route between Tirgu Mures and London."
Wizz Air's Liverpool-Bucharest flights begin on October 1st 2007, while Bucharest
flights from London Luton will increase in frequency to six times a week by mid-July.
Tirgu Murges International Airport underwent an extensive modernisation programme
in 2005 and it serves Romania's Transylvania region, which is home to a number
of notable tourist attractions.
Source: Ready2Invest
4:Property tempts advisers into LLPs with up to
7.5% commission
Property development company 4:Property announced last week it is offering commissions
of 5-7.5% to advisers who place money with its range of eight limited liability
partnerships (LLPs).
These LLPs invest in development projects in appreciating property markets such
as Croatia, Montenegro, Bulgaria and Romania, and aim to generate high returns
by developing land for building and selling it on to locals and tourists for high
profits.
This is possible as land prices in many of these countries are so low, they can
only take up 20% of the sales price, leaving high margins for the developers and
investors, according to 4:Property managing director Chris Howard.
He said that investors will not be put off buying holiday homes following the
Spanish property crash earlier this year because eastern Europe is a new market
offering extremely low prices, and ‘price attracts demand’.
‘The Spanish property market started around 1965, whereas the eastern European
market started only about two years ago and the properties there cost about a
quarter of what they do in Spain,’ commented Howard.
‘Each one of the property markets that we invest in is different to the
other, so there is protection in diversification, and there is also protection
in the uplift in the value of the land, which is considerable.’
But Baronworth Investment Services director Colin Jackson warned that a great
deal of diligence must be carried out before advisers should consider such an
investment.
He said: ‘Land and development may be cheap but it is a case of whether
they can find the purchasers. Can the locals really afford to pay for these new
developments? And what if regional property prices drop? I would look for guaranteed
returns before I would let my client’s money leave the UK.’
Source: Citywire
MOL targeting Romania's wealthy with new forecourt
concept
MOL Romania has begun a project to build restaurants at some of its busiest service
stations. Providing customers with restaurants equipped with internet access should
enable the MOL unit to gain an advantage over its competitors. Nevertheless, given
the developing nature of Romania, MOL should tread carefully and focus its efforts
on the wealthier and busier metropolitan areas of the country.
'Content MOL Romania has announced that it is to open restaurants at its most
popular service stations in the region. The restaurants will operate under the
Servus brand and will act as a separate entity from the company's petrol stations.
The eateries will be open for 24 hours a day and will provide customers with hot
food to eat in or take away, as well as access to wireless internet services.
Opening restaurants with wireless internet services will allow MOL to gain a competitive
advantage as it will take the company's offerings one step beyond the simple forecourt
shop, which has recently become a widespread phenomenon in Romania. In fact, the
proportion of Romanian service stations with an on-site shop has increased significantly
over the last few yeas, to the point that they can currently be found at over
half of the country's sites.
Over the last few years, Lukoil, OMV, MOL and Agip have equipped all of their
Romanian service stations with shops. Indeed, the number of shops at service stations
increased six-fold between 2002 and 2006, and currently only two leading players,
Petrom and Rompetrol, have shops in the minority of their service stations.
MOL's investment in restaurants should also be seen as a reflection of the company's
aggressive expansion strategy in Romania and eastern Europe as a whole. For example,
in December 2005, MOL took advantage of Shell's exit from the market by acquiring
the oil titan's 59 Romanian sites.
The opening of restaurants that include internet services should be a profitable
move for MOL, as it will meet current consumer trends, which have led to growing
demand for higher-end products that can be received while on-the-go. MOL is also
wise to focus on petrol stations with a high flow of customers, as, in a country
where GDP per capita is among the lowest in Europe, the Servus restaurants are
most likely to succeed in the richer and busier metropolitan regions.
Source: Energy Review Online
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