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.
Griffes has announced the leasing of 6,000 sqm of office space in Bucharest-based Unirii View. Out of the total volume, 2,000 sqm represent new tenants joining the tenant roster, while three tenants expanded operations and grew their space take-up in the building.
The first Gorąco Polecam store in Lubin has opened at BIG Lubin retail park. The new 151 sqm unit is in a newly designed development building featuring a large 160 sqm patio.
Worldbox has entered the Romanian market with its first store at Scallier's Funshop Park in Vaslui. The multi-brand store covers more than 660 sqm and offers clothing, footwear and accessories in the casual and sportswear segment.
New appointments
CBRE Investment Management announced the firm is evolving the leadership model in its EMEA Direct Real Estate business. Under the enhanced structure, Rik Eertink will assume the role of President and CIO of EMEA Direct Real Estate, after serving as President of EMEA Direct Real Estate for the past five years.
Nhood has appointed Mihaela Petruescu as the new Country Director for Property Services Romania & Poland as of October. She previously held leadership positions at large real estate firms, such as Cushman & Wakefield Echinox and CBRE Romania.
Daniel Orczyk has been named Senior Project Manager at the technical advisory department of Avison Young in Poland. He is a licensed structural engineer and building site manager with over 20 years of experience.
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