History of the company
The issuing company has functioned since 1962 as a local commercial organization until 1973, when, following the territorial reorganization of Bucharest becomes a local commercial enterprise.
On 26.09.1979, through the decree no. 1515 of the Bucharest People’s Council, it was again reorganized under the name Local Food Trading Enterprise #6 and became the main enterprise specialized in selling food products in 6 th District of Bucharest Municipality.
In 1990, after the appearance of Law 15/1990, by Decision nr.1071 dated 09.11.1990 Bucharest City Hall, it was reorganized into a joint stock company, titled Practic, by taking over the assets and liabilities of the former economic unity Local Food Trading Enterprise #6
In the early 90’s the company was a joint stock venture and continued to operate the proximity public & catering shops and started leasing activity of some areas, mostly with the same tenants.
Since 2002, the main activity has become the lease and sublease of real estate held in various forms by the company, its main activity has been maintained to date, respectively CAEN code 6820 – Renting own or leased real estate.
In the street shops held by the company functioned in this period trade and non-food units, bank branches, pharmacies, catering units etc.
In this way Practic SA has become in the last decade, one of the leading operators of retail and renting services in Bucharest.
Because of the development of large modern shopping platforms the traditional street trade accentuated decline, the company decided to develop impact and feasibility studies in order to identify those locations with great economic potential for future investments.
For this reason the company has been involved in several transactions and acquisitions – both lands and buildings – in the period 2001 – 2015, so nowadays the real estate portfolio of Practic SA is very different from the original, and the economic potential of new properties acquired provide important insight for years to come.