Romania’s commercial investment transaction volume could hit €1 billion this year considering the amount of deals close to completion, according to a report by Colliers.
Commercial property investment amounted to €168 million in H1 2023, roughly half compared to last year, with industrial and logistics accounting for the biggest share of the transaction volumes.
Investment transactions in Romania’s commercial property market totaled €120 million in Q1 2023, which was almost double compared to the same period of last year. The deal volume was driven by industrial and office projects, according to a Colliers report.
Price and yield moves on the Romanian property market will be influenced in the near future by both the availability and the cost of capital, while the overall volume of deals is likely to fall this year after reaching a 15-year high during 2022, suggest Colliers’ consultants.
UK-based commercial property fund manager and investor First Property Group concluded the sale of Tureni Logistic Warehouse, with a total area of about 8,300 sqm, in a deal brokered by real estate consultancy company Colliers.
Industrial developer WDP has purchased Arad Business Park, with a leasable area of around 42,000 sqm, for an undisclosed sum in a transaction brokered by real estate consultancy Colliers.
Investment transactions worth €336 million were concluded on Romania’s property market in the first semester of 2022, up 13% year-on-year, while for the whole year the sector could generate deals closer to or even higher than €1 billion, according to a report by real estate consultancy Colliers.
Property investments in Romania could exceed €1 billion in 2022 given the high level of activity seen at the start of the year, according to a report by Colliers. Just a few office transactions in advanced stages likely to close this year will total over €600 million.
The office sector accounted for 66% of total investment volumes recorded in Romania’s commercial real estate sector in the first semester. Deals worth close to €290 were closed in the first half, down 41% year-on-year, according to a report by real estate consultancy Colliers.
Romania recorded new real estate investments worth €85 million in the first quarter of 2021, down 42% year-on-year, in line with the lower results of other markets in Central and Eastern Europe, according to a report by Colliers.
Footwear brand Crocs is opening its first location in the North-East region in Palas, as well as in the upcoming Rivus project in Cluj-Napoca, both projects developed by Iulius.
WeNet, an online marketing company, has relocated its Gdańsk office to the multifunctional Garnizon complex, owned by the Hossa Investment Group. The organisation has taken up more than 450 square meters of office space in the GATO office building.
Perfume chain Douglas has signed a lease agreement for nearly 1,000 sqm of office and logistics space at CTPark Budapest Office Campus, which is located in the heart of the city.
New appointments
Avison Young has announced several promotions within its Poland operations. In the Valuation and Advisory department, Agnieszka Bogucka and Marta Marat have both been promoted to Senior Valuer. In the Investment Advisory department, Artur Czuba has been promoted to Director. The Office Agency department has promoted Filip Filipowicz to Senior Consultant. In the Technical Advisory department, Kamil Olechniewicz has been promoted to Senior Project Manager. Additionally, Renata Zielińska took the position of Senior Consultant in the Investment department.
Tryton Business House in Gdańsk will welcome a new tenant. Państwowe Gospodarstwo Wodne Wody Polskie will occupy 3,092 sqm of office space in the complex owned by Globalworth. Cushman & Wakefield represented the institution in the lease process.
G City Europe is strengthening its development competences. Piotr Myszka has joined the company, taking up the position of Head of Development.
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