Romanian developer Genesis Property has purchased a 30,000 sqm land plot from Stizo Invest, for an undisclosed sum, in a transaction brokered by Colliers.
The purchase consolidates the developer’s position in western Bucharest, where it already owns an office business park and a private student accommodation project.
Other players that made significant purchases of land are One United Properties, Speedwell and Kaufland.
“The upward trend in supply continues, as new properties enter the market, while demand is primarily driven by a limited number of potential investors. However, the year has started well, with significant transactions announced across various stages of finalization. We're witnessing the sale of portfolios such as CPI/Immofinanz's Rocar and Iride, alongside other portfolios, mostly consisting of residential land, from players who have too much stock and need to unlock or focus on certain projects in advanced stage", explains Sînziana Oprea, Director Land Agency at Colliers Romania.
Going forward, the focus will be on mixed-use projects, through securing strategically located platforms at competitive prices or attractive transaction structures.
According to Colliers data, Romania’s commercial sector land transactions exceeded €400 million in 2023, with 70% of the deals recorded in Bucharest. More than half of the land transactions were made by residential developers, while another quarter from retail companies.
