Investments in Romania’s commercial real estate market amounted to €566.9 million in the first half of this year, compared to €194 million in the same period of last year, according to a report by real estate consultancy FortimTrusted Advisors, an alliance member of BNP Paribas Real Estate.
The biggest transaction activity was in the retail segment, which generated €249.7 million in investment. This included the sale of the Value Center portfolio, which includes the retail parks DN 1 Value Center, near Bucharest, alongside Dâmbovița Mall, in Târgoviște and other commercial spaces in Zalău, Ploieşti, Sfântu Gheorghe and Bârlad.
Meanwhile, the office sector recorded investment transactions with a combined value of €220.3 million.
”69% of the total value invested in Real Estate during this period came from REIT (Real Estate Investment Trust) companies, profile companies that own, operate or finance real estate assets that produce income. The highest amount paid for a single real estate asset in Romania in 2022 was given for the Expo Business Park office project in Bucharest. However, there are prerequisites for this amount to be exceeded by the end of the year, in a transaction that would also target a new office project,” said Nicolae Ciobanu, Managing Partner - Head of Advisory FortimTrusted Advisors.
Other office projects sold this year include One Victoriei Center, Băneasa Business Center and Record Park Offices.
In the industrial sector, transactions totaled €54.5 million, while in the hotel sector there were five transactions with a combined value of €38.9 million.
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