ARTICLES LABELLED WITH TAG Bucharest

Austrian real estate group Immofinanz, part of CPI Property Group, has sold its office complex Iride Park in northern Bucharest for around €45 million. 

Romania’s hotel market has recorded transactions with an average value under €5 million over the past 18 months, according to a Crosspoint Real Estate report. 

The European Bank for Reconstruction and Development (EBRD) has announced a €10 million equity investment in Romanian retail chain La Cocoș. Additional equity funding will be provided by CEECAT Capital and Morphosis Capital to support the retailer’s development plans.

Bucharest’s hotel market is set to expand by around 2,400 rooms by 2026, outpacing the estimated growth from other CEE-based capital cities, according to a Cushman & Wakefield report.

Romanian law firm PeliPartners has assisted Immofinanz in the sale of myhive Victoriei to AFI Europe, in a deal worth an estimated €27 million.

The current workforce landscape has been significantly influenced by recent challenges, leading to a shift in how employees perceive their well-being. This highlights the importance for employers to prioritize their employees’ health and happiness, actively supporting them and fostering a workplace culture that values holistic well-being, writes Cătălin Năstăsoiu of Genesis Property.

AFI Europe has purchased the myhive Victoriei building in central Bucharest from Immofinanz for around €27 million. The new owner plans to turn the existing office building into a mixed-use project, with the conversion permit already secured.

Romanian developer Bellemonde Developement has obtained €21 million in funding from Libra Internet Bank for a residential project in Pipera, near Bucharest.

Romanian developer HILS Development has announced a 28% increase in residential sales during H1 2024 compared to the same period of last year, while revenue was up 25% year-on-year. 

Bucharest’s Mayor Nicușor Dan has announced that he will be tasked with issuing traffic permits for new Urban Zoning Plans (PUZ), Urban Developing Plans (PUD) and construction authorizations.