ARTICLES LABELLED WITH TAG Bucharest

Romanian developer STC Partners has secured bank financing from Banca Transilvania for the first phase of Quartier Azuga residential project in Bucharest worth €6 million. 

America House has become the first-Class A office building in Bucharest to obtain an Outstanding rating according to the BREEAM In-Use certification methodology, after a major investment of €10 million. The certification process was managed by BuildGreen. 

Asking prices of homes in Romania rose by 6% year-on-year to €1.682 per sqm during 2022, while the number of property deals slightly grew last and the demand in the residential segment has started to fall, according to a report by real estate classifieds platforms Imobiliare.ro. 

Commercial property investment in Romania totaled €1.25 billion in 2022, up 40% compared to the previous years, of which the biggest single deal was Pavăl Holding’s acquisition of CA Immo’s office portfolio for €600 million, according to real estate consultancy JLL România. Last year's result was the biggest since 2008.

Romanian developer Alsin Management will invest €40 million in a new residential complex based in Pipera, northern Bucharest. 

Belgian developer Atenor says it has agreed on a bilateral promise with CEE-focused real estate investment manager Adventum Group for the sale of the office complex @Expo in Bucharest. The promise is under the suspensive condition of the signing of a share purchase agreement by the end of Q1 2023, Atenor announced in a press release.

Romanian developer One United Properties has purchased an unfinished, abandoned building in the historic centre of Bucharest, for €13.5 million. The building will be transformed into a 5-star lifestyle hotel - One Plaza Athénée.  

Average asking prices of new and old apartments in Romania fell by 0.2% in November compared to the previous month to €1,704 per sqm, with Constanța, Iași and Cluj-Napoca recording slight gains of prices, according to Imobiliare.ro. 

German HR Group has taken over the Vienna House Easy Airport Bucharest near Henri Coanda Airport as part of a wider deal that involved the purchase of all Vienna House properties from Vienna House Capital and U City. 

Global Business Solutions (GBS), the largest shared services centre of the BAT group that serves BAT subsidiaries at a European and global level, will occupy an area of ​​10,500 sqm in One Cotroceni Park Phase 2. The lease transaction was brokered by Knight Frank Romania.