Investments in commercial spaces to attain EUR 500 mn in 2011

The year 2010 brought to light a large number of distressed properties, but the market became more confident towards the yearend. We expect the investments to reach 400 or 500 million euros, representing a rise ranging between 30 and 60 percent, in 2010.

Such properties preponderantly belong to retailers who no longer can pay their debts to the banks, and were mainly negotiated in 2010, while the investors are expected to be interested, and at least to the same extent, in offices, this year. Properties located on the outskirts, but highly available, will be massively auctioned, by investors, to be mainly focused on the habitual Bucharest-based business sectors,' said DTZ Echinox Investments Director Cristian Ustinescu.

DTZ is a global real estate consultancy company owning offices in 140 cities in 42 countries, and operates in Europe, Middle East and Africa, Asia, Pacific and America. The Company supplies consultancy services and customized expertise to investors, developers, public and private employees and financial advisors.