Page 19 - bne Magazine August 2022

bne August 2022 Companies & Markets I 19
that the government must take urgent measures to attract tourists and that the national tourist organisation's campaign started late and was carried out with a lower budget.
The Democratic Party of Socialists (DPS) has accused the government of being responsible for the weaker than expected tourist season.
Aside from the high prices, the European Commission warned in its spring economic forecast released on May 16 that Montenegro’s economy will significantly slow down its growth in 2022, to 3.8% from 12.4% a year ago, as tourism activity in the country will be negatively affected by Russia’s war in Ukraine.
Bucharest office blocks being turned into hospitals to accommodate booming private medical sector
Iulian Ernst in Bucharest
Immofinanz, one of the largest players in the local real estate market, has announced the signing of a 25-year lease for 6,500 square metres in Victoria Park office building to Leventer Medical Group, one of the most important private skin health operators in Romania.
This is the third project in Romania to transform an office building to house a private hospital, according to Economica.net.
The leased area will host Leventer Hospital, the country’s first private dermatology and surgical oncology hospital, and the transaction is one of the largest in the office sector this year.
Victoria Park is currently undergoing a significant refurbishment and modernisation process.
Leventer Medical Group will invest around €10mn in the future hospital which is planned to be launched in 2024.
Victoria Park office building is located in the northern area of Bucharest, with easy access to both Bucharest centre and the two airports.
In 2021, a robust revival of tourism pushed up Montenegro’s economy, but this is expected to slow in 2022. Surging energy and food prices will also drag down the economic growth, the EC noted. As Russians and Ukrainians represent 20% of all tourists in the country, the sector will be badly hit by the war in Ukraine.
“Tourism in particular is expected to perform worse in 2022 than previously expected and to reduce exports of services, while the fiscal stimulus is set to support private consumption particularly in 2022, before the impulse runs out in 2023,” the EC noted.
Sungmin cho via Pixabay
Leventer Hospital will occupy an area of 6,500 square metres of Victoria Park office building, with five operating rooms and over 60 beds.
The medical unit will also have an outpatient department with 15 offices and treatment rooms, a pathological anatomy laboratory, imaging and superficial radiotherapy and orthovoltage compartments.
This is Immofinanz’s second major project to adapt an office building to accommodate a hospital to international standards after it also signed a 25-year lease last year with Provita Group, which is developing a multidisciplinary hospital in the IRIDE 18 building.
Medicover, one of the largest players in the private medical services market, will also convert the Multigalaxy MG 1 office building, located in Bucharest, near the Bucharest-Ploiesti highway, into a hospital with over 150 beds.
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