WOOD Flash – Romania: is the political tide turning?
Following the European election results, the leadership reshuffle within PSD, and ALDE’s positioning, we believe the political context is becoming more favourable, although not a 180-degree shift. Our base case is that the PSD-ALDE coalition will continue ruling in its current form up to the national parliamentary elections at the end of 2020E (or early-2021E), noting a very low probability of snap elections, given its complicated constitutional process. We see PSD toning down the more controversial measures, the anti-EU message, and judicial reform; with ALDE re-positioning as the more business-friendly, liberal side of the coalition in a bid to regain lost voters and reach the 5% parliamentary threshold in the domestic elections. The shifting political sentiment comes in the context of a more suppbrdortive macro picture for 2019E and 2020E, as outlined in our most recent macro report (EME Macro Strategy_ESI_29May2019.pdf), with our GDP growth expectations at 4.2% for this year and next.
Globalworth Real Estate Investment is a integrated real estate company operating in the Central and Eastern Europe and South-Eastern Europe region with a primary focus on Romania, where it acquires, develops and directly manages primarily office and logistics/light-industrial real estate assets. Co. has three reportable operating segments: the Offices segment, which acquires, develops, leases and manages offices and spaces; the Residential segment, which builds, acquires, develops and leases apartments; and the Other segment, which acquires, develops, leases and manages industrial spaces and corporate holding offices.
NEPI Rockcastle is engaged in developing, acquiring and holding commercial properties, either directly or indirectly through the acquisition of listed equities.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.