By Noreen Lucey, Property Investment Analyst, Property Secrets

This month's comprehensive round up of Foreign Direct Investment (FDI) into CEE from our Research & Analysis team. We can't cover everything, so if there's a deal we missed, let us know at investments@propertysecrets.net .

Romania

A Ferrari showroom will open this May in Otopeni, Bucharest, representatives of car importer Forza Rossa, a Ferrari partner in Romania has stated.

Dawnay Day, the British investment and financial services group, has started the construction of the Atrium Center in Arad county due to complete in 2009. The total investment will reach 72 million Euro.

UK department store chain Marks and Spencer Group plans to open 50 new stores in the Balkans, following its 50 million Euro purchase of 50 per cent in its regional franchise partner, Greek-based Marinopoulos, which operates six Marks & Spencer stores in Romania. Marinopoulos also has the franchise rights for Starbucks and Sephora in Romania.

Steel giant ArcelorMittal will invest 1.5 billion Euro in ArcelorMittal Galati to help increase its local production by 50 per cent. The Galati-based factory intends to sell its steel on the western European market and in the next five years plans to increase annual production from 4.7 million tonnes to seven million tonnes.

German Condiments producer Fuchs Condimente Romania will invest around 10 million Euro in the construction of a new production and logistics centre in Curtea de Arges, Arges county. The new plant will become operational in 2009 and will employ 300 workers. The logistics centre will serve Romania and all European countries where Fuchs is present.

Germany company Selgros Cash&Carry Romania has invested up to 20 million Euro in opening a new store in Braila. The outlet covers 10,000 sqm and has 350 employees. By the end of 2008, the German company has planned to open another store, but a decision has not yet been made on the location.

Budget clothing retailer Takko Fashion International will open another 15 stores this year creating about 150 jobs. The retailer entered the Romanian market in 2007 and has so far opened eight budget stores all over the country. By 2010 the German company, Takko plans to reach one hundred stores in Romania.

French retailer, Carrefour plans to invest this year 120 million Euro in six new more stores in Oradea, Arad, Pitesti, Suceava, Iasi and Bucharest, according to Business Standard. Last November, Carrefour purchased the Artima chain of supermarkets for 55 million Euro.

Italian bank Unicredit Tiriac Bank plans to expand its network by 70 more branches and to employ a further 1,000 people this year. At the end of 2007, Unicredit Tiriac Bank had 141 branches, 600,000 clients, 2,600 employees and registered an increase in net profit of 50 per cent.

Freight and delivery service giant UPS has bought Romanian-owned Trans Courier Service (TCS) which has been its service contractor in the country since 2000. The transaction will be completed in the second quarter of 2008, estimates the US company.

US lawyers, White & Case LLP has opened its office in Romania and is managed by partners Todd Shollenbarger and Delia Pachiu, both formerly of Linklaters Romania. The firm has lawyer to partner ratio of ten to two and plans to further expand the headcount and specialisations. The team will begin by focusing on real estate, finance, M&A, private equity and energy.

US real estate developer Mega Company will invest around 80 million Euro in the development of an outlet centre in west Bucharest on the A1 motorway near the Ring Road, on an area of 38,600 sqm. The Factory Outlet Center will include fashion stores, sportswear, home decor, concept stores, several coffee shops and a food court. Construction works started this spring and the first of the two phases is expected for delivery this autumn. Mega Company specialises in the construction of large commercial, industrial and retail projects.

Dutch oak and pine furniture producer Quadra Invest is opening two new European Heritage stores in Bucharest and Sibiu and a showroom in Targoviste, Dambovita county. Quadra Invest currently sells its 18th century-style furniture in its European Heritage store in Bucharest's Historic Centre and opened a second store inside Bucharest Home & Design Mall last March. The company started its business in Romania with a furniture factory in Targoviste.

ING Bank will open 40 new branches in retail banking and six more branches for wholesale banking this year. In 2007, ING Bank Romania doubled its number of clients in retail banking to 500,000 clients and by the end of 2008 the bank plans to reach 750,000 customers. The bank currently has 29 wholesale branches and 147 retail branches.

Beer producer Heineken has purchased the Romanian owner of the local beer brand Neumarkt, Bere Mures, subject to approval by the Competition Council. Heineken officials did not reveal details of the value of the deal, but last December, Bere Mures stated to Ziarul Financiar that they were expecting offers of between 150 and 200 million Euro. Bere Mures has a market share of six per cent and this could increase Heineken's market share to 31 per cent of the Romanian market. Bere Mures produces Neumarkt, Sovata and Graf Dracula in a factory in Targu Mures, Transylvania and has 394 employees.