RABO calls for harmonized legislation, measures and policies across all markets within the EU
Brussels, April 7, 2011 – The Romanian Association of Building Owners (RABO) announces its official launch and affiliation to the European Property Federation (EPF), Europe’s leading organization representing owners, investors and developers of real estate assets valued at over 1,1 trillion Euro.
With the property & real estate service sector representing nearly 10% of a country’s GDP, RABO aims to foster a sound, transparent and stable economic and legislative framework, governed by EU-level norms and standards, for local and foreign property owners active on the Romanian market. Its policy agenda includes a strategic vision for developing a harmonized EU property market, combined with practical solutions to speed up market recovery.
Liviu Tudor, Founder and President of RABO, said in his opening speech during the launch event in Brussels: “Romania is a country that has welcomed a large foreign investment inflow over the past 10 years, brought in part by the large multinationals seeking strategic regional headquarters. This in turn fueled the country’s economy, increased the employment rate and moreover, generated a large development in the commercial property arena – attracting both local and large international institutional investors. In order to foster sustainable development for the sector and acting within the larger European context, RABO sees the need for a strategic shift in thinking and approach related to aharmonized EU-level property market and thus alignment in terms of legislation, policies, measures and standards”.
“We have created RABO in order to give Romanian property owners a voice in Brussels and at the same time, bring to Romania the vision, best practices and solutions to our common challenges developed at EU level. In order to succeed in our endeavors, we are honored to have partnered with EPF, an opinion leader and driver of such initiatives, benefiting from great resources and know-how in the property markets across the Union,” added Liviu Tudor.
John R. Frederiksen, EPF President, said: “At a time of exceptional growth for EPF, we are particularly pleased to now represent the real estate industry in Romania, the seventh largest EU member state, with a property market that is attracting some of our most important companies. Our collective strength has been enhanced”.
Michael MacBrien, EPF Director General, also stated: “RABO is already completely integrated into EPF’s work processes and structures and is already impacting the EU legislative pipeline. RABO’s leadership, structure and organisation are an example for real estate interests in the new EU member states and indeed in many ‘Old Europe’ countries”.
RABO believes that EU-level policies will promote good governance in the sector, increase market transparency, fairness and efficiency, and speed up recovery from recession. As one of its endeavors, the organization intends to propose a Code for Area and Space measurement at the EU level, in order to facilitate comparison for property owners and lessees operating in one or more EU countries.
Moreover, RABO will promote capacity-building activities and dissemination of information, good practice and know-how related to the real estate sector. Some of the proposed objectives include:
- working with the Romanian government to ensure proper and timely transposition of EU Directives into Romanian law;
- promotion of EU law facilitating cross-border real estate investment;
- development of an effective and harmonized set of EU-level urban planning and building laws to minimize differences in local legislation for a more transparent & predictable development and administration;
- development of a comprehensive set of regulations to regulate construction activities;
- promotion of an efficient and transparent real estate market consistent with EU law, international standards, ethical rules and best practice;
- promotion of a green real estate sector and energy efficiency in buildings.
About RABO
The Romanian Association of Building Owners (RABO), a member of the European Property Federation, is the first organization reuniting some of the leading local and international commercial property investors operating in Romania. RABO aims to foster for its members and the economy as a whole, a sound, stable, efficient, transparent and harmonized economic and legislative environment within Romania and the EU. The organization intends to work closely with industry leaders, local government and EU policy-makers, in order to ensure a harmonized framework for property investments, urban rehabilitation, new developments, real estate financing, energy efficiency, social inclusion and environmental protection. For more information, please visit www.rabo.org.ro.
About EPF
EPF (European Property Federation) represents all aspects of property ownership and investment: residential landlords, housing companies, commercial property investment and development companies, shopping centres and the property interests of the institutional investors (banks, insurance companies, pension funds). Members own and manage property assets valued at € 1.1 trillion. Through its member UEPC (European Union of Developers and House Builders) it represents more than 30.000 developer and house building companies that annually build and develop several million m² of offices, shopping centres and semi-industrial buildings as well as more than 1.000.000 new homes.