Romanian Association of Building Owners, member of the EPF, officially launches (RO)

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.

Liviu Tudor - Presedinte RABO

Liviu Tudor.

With the property and 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 a harmonized 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."

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 organization 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 r

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