ARTICLES LABELLED WITH TAG Romania

Romanian developer Nordis Group has inaugurated its hotel & residence project Hotel Nordis Mamaia 5 ***** following an investment of around €100 million.

Żabka Group concluded the acquisition of a majority stake, forming in a partnership with one of the leading FMCG distribution players in Romania – DRIM Daniel Distributie. The transaction is subject to the customary regulatory approvals. 

Park Properties has purchased two land plots on the shores of Pipera and Balotesti lakes near Bucharest, where it plans to start two new residential developments with an estimated value of more than €40 million.

Direct marketing company Mediapost Hit Mail has leased 19,000 sqm in Chitila Logistics Hub, the industrial project jointly developed by Global Vision and Globalworth. The lease transaction was brokered by Colliers.

2024 is foreseen to experience a decline in SEE construction markets but a comeback is the projected current scenario for 2025. Romania is expected to contribute most negatively to the shrinkage of the SEE region in 2024. The rest of the countries is forecast to perform better. Bulgaria, Croatia and Serbia could end up at higher level in 2025 than what was experienced in 2023. The EECFA (Eastern European Construction Forecasting Association) released its 2023 winter construction forecast.

Romanian developer One United Properties has secured a loan deal with Alpha Bank Group with a value up to €30.5 million for the development of One Gallery, a retail gallery based in northern Bucharest that is part of One Floreasca City mixed-use scheme.

Speedwell says it has completed the construction works for the first 123 apartments in the mixed-use urban regeneration project Paltim, based in Timișoara. The delivery of the apartments is expected in Q1 2024.

Chinese car parts maker KSHG Auto Harness has leased 13,000 sqm of production space in CTPark Deva II, while taking its total leased surface in the project to 21,000 sqm. CTP said the lease transaction underpins the growing demand from large companies looking to nearshore their production facilities for the European market.

Hospitality group Accor plans to open more than 90 hotels across Europe, Middle East and Asia during 2024, of which four will be based in CEE markets.

Lucian Butnaru, the owner of the SelfPay payment company, has started two build-to-rent projects in northern Bucharest that will target renters in the premium residential segment.