Latest News
21-August-2008
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Interview with James Gonzalez
Property Investment News
Boost for Foreign Investors in Romania
As the government set the stage to further open up foreign investment in Romania, so the prestigious Forbes magazine released their list of best countries for business. Romania had taken a great leap forward of 20 places, ranking 40 out of 121 countries in the list. And Cluj-Napoca, in Transylvania, was named the number one place to invest in the world by Monocle Magazine.
Based on economic data from 2007, Forbes' rankings are based on freedom of trade, investors' protection and lack of bureaucracy. It revealed that the Romanian business environment is more attractive than that in Turkey, Croatia and Greece.
James Gonzalez, Market Analyst at Obelisk, says, "The Forbes rating is great news for Romania and those considering investing in the country. The government has been working hard to make Romania more business-friendly and it is obviously paying off. The government has also approved a new law offering incentives to foreign investors, so it really is all systems go in Romania. The law is a response to the staggering 60% annual surge in foreign investment in Romania during the first months of 2008."
Although still in its draft stages, the new law means that foreign investors in Romania will receive the same incentives as Romanians. The government will offer aid for investment projects in a range of business sectors within Romania. Following the approval of the law, Prime Minister Calin Popescu Tariceanu said that incentives would be granted to investors based on specific criteria, principally the objective of the projects and the amount of benefit they would provide for Romania's already booming economy. The government is also restructuring the existing Romanian Agency to Foreign Investment (ARIS) so that it can more efficiently meet the demands of investors.
Romania is also keen to steer investment towards alternative regions of the country, ensuring balanced development. The capital, Bucharest and the Black Sea coastal resorts have traditionally taken the lion's share of investment, but now new regions are being opened up, such as the Transylvanian region in the north east of Romania, where Prince Charles is one of the area's most famous investors. James Gonzalez says that his research has shown that there is significant - and growing - interest in this region of the country, particularly in the city of Cluj-Napoca, where some high profile investors are already established. "Obelisk's regular client surveys show that Romania is their second most popular investment location and research shows that Cluj is becoming the I.T. hub of the country. Nokia has made a €60 million investment, with more planned, and familiar brands such as Marks and Spencer and Debenhams are committed to space in the Polus Center in the city."
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Uruguay Heads for the Limelight
Uruguay could be forgiven for having something of an inferiority complex. A tiny country, squeezed in between two South American giants, Brazil and Argentina, it has a tendency to get overlooked. Not any more.
Emerging Markets – The Other Side of the Coin
The one question on every investor’s lips is, “where next?”
Euro Boost for Slovakia
Slovakia is coming up trumps in terms of property investment and the country’s potential for a full set of aces grows more likely every day as its economy improves in leaps and bounds under the watchful eye of Prime Minister, Robert Fico.
Romania Impress the Best
Romania is making its mark with all the right people and institutions. Standard & Poor, the financial evaluation agency, have recently upgraded Romania’s banking industry risk assessment profile.
Albania Poised for Property Boom
Albania is a relatively young hopeful among Europe’s emerging property markets. The country, which only broke free from communist rule in 1992, has been working hard to make itself an attractive destination for overseas property investors.
Panama’s Tax Breaks and Booming Economy
Those thinking of investing in the Republic of Panama had two pieces of encouraging news recently.
Spain Cleans Up Its Act
The Spanish property sector has recently come under increasing pressure to make its real estate sector more transparent, and according to international property consultants, Jones Lang LaSalle, that is exactly what it has done.
Brazil’s New Millionaires
According to the latest wealth report by Merrill Lynch and Capgemini, the number of Brazilians worth more than US$1 million leapt up by more than 19% in 2007 to 143,000.
Invest with the Best in Cluj-Napoca, Romania
Obelisk is pleased to announce the launch of the Fontana Residence, located in one of the world’s most dynamic investment destinations.
Obelisk TV Series
'The Next Big Thing'
Next Big Thing Turkey
Next Big Thing Bulgaria
Next Big Thing Dubai
See more...