ARTICLES LABELLED WITH TAG Bucharest

Romanian developer One United Properties plans to invest at least €70 million in the next two years in the urban regeneration of abandoned historical landmarks in Bucharest.

Asking prices of apartments in Romania fell by 0.3% in June compared to the previous month, with the average listing price of a property reaching €1,745 per sqm. 

MAD Planning & Projects has sold an office building in Bucharest to the University of Medicine and Pharmacy in Bucharest for an undisclosed sum. The building located close to the University Area is set to host a medical simulation center.  

With total investments exceeding €500 million in Romania’s real estate market in the past 25 years, Anchor Grup is looking for new funding and recently kicked off a new residential project. Affan Yildirim, General Manager, Board Member of Anchor Grup and Board Member of Shopping MallDova, spoke to Property Forum about the way in which the developer adapted its malls and offices to the post-pandemic trends but also about the investment context in the country.

Romania is an attractive market for international retail companies which are interested in leasing large areas, often above 1,500-2,000 sqm, according to a report by real estate consultancy CBRE. Bucharest is the leading city with 66,222 sqm of retail spaces under development, followed byu Craiova, Timișoara and Iași.

Romanian developer One United Properties has purchased a 10,710 sqm land plot near Floreasca where it plans to start a new residential investment.

Property developer Speedwell has received the BREEAM Excellent certification for its Miro office project based in northern Bucharest. 

Hungarian investor Indotek Group has purchased the One Victoriei Center office building in central Bucharest as part of its expansion strategy for an undisclosed sum. 

STC Partners will invest more than €20 million in a new residential complex comprising over 200 apartments in Bucharest. The first development phase of Quartier Azuga will kick off in October 2022 and is slated for delivery in the first semester of 2024, while the entire project should be completed in early 2025. Crosspoint Real Estate has been appointed exclusive sales agent. 

Local real estate developer Camicna Development has started the construction of Acmanic, a boutique luxury residential project worth €25 million that includes 51 duplex apartments.