ARTICLES LABELLED WITH TAG Bucharest

AFI Europe signed a pre-agreement to sell AFI Park 1-3 office buildings to Dedeman, a Romanian DIY retail company. The agreement also includes an option to sell AFI Park 4&5. The total price for AFI 1-5 is approximately €164 million. 

The Bucharest office market recorded leasing transactions more than 100,000 sqm during Q1.2017, almost doubling the volume of transactions recorded in the same period of the previous year. Net office take-up during Q1 2017 stood at 57,200 sqm. Colliers International published its summary of the Bucharest office market in Q1 2017

Q1 2017 saw Class A & B take-up reach approximately 97,300 sqm on the Bucharest office market and the average transaction size increased from approximately 1,800 sqm in Q1 2016, to approximately 2,400 sqm in Q1 2017.  There were 9,550 sqm delivered in two projects in the CBD (Central Business District), Knight Frank reports.

NASDAQ and the Tel Aviv Stock Exchange-listed Elbit Imaging has put two of its Bucharest hotels on the market. The company is hoping to finalise the sale of the five-star Radisson Blu and the four-star Park Inn by the end of the year. 

Hili Properties, the real estate division of Hili Ventures, has finalised the acquisition of ART Business Centre in Bucharest from FBC Exclusive Company for €30 million.

P3 has started the construction of a new warehouse at P3 Bucharest Park. The 13,900 sqm logistics facility will include 400 sqm of offices. P3 is already in advanced discussions with a potential customer interested in leasing the whole building.

Key players of the Romanian property market are highly optimistic about the future. They expect strong demand to last for several more years and major changes to happen in almost all segments of the market. 50 speakers and more than 200 visitors came together at SEE Property Forum 2017, co-organised by Property Forum and RICS, to analyse the potential of the Romanian real estate market from a global perspective. Here’s our second report from Bucharest.

Paris claimed top spot in Colliers International’s Hotel Investment Attractiveness Index, an analysis of the investment climate of 20 European cities, despite predictions that investors and tourists would lose faith in the city due to political uncertainty and the perceived threat following various national security breaches. Prague was ranked in 10th place in the index, boosted by the low level of development costs and high number of tourist arrivals.

SEE Property Forum 2017, a real estate conference co-organised by Property Forum and RICS, has been held for the third time in Bucharest. 50 speakers and more than 200 visitors came together in the capital to analyse the potential of the Romanian real estate market from a global perspective.

The mindset of end-users is quickly changing in the world of real estate and developers looking to stay in the race need to keep up with current trends. This trivial statement is especially true in the case of a dynamically growing market such as Romania, which has gone through significant changes in recent years. Sorin Visoianu, Country Manager of Operations at Immofinanz told us what he thinks is driving the Romanian commerical property market.