Romanian developer One United Properties has secured a loan deal with Alpha Bank Group with a value up to €30.5 million for the development of One Gallery, a retail gallery based in northern Bucharest that is part of One Floreasca City mixed-use scheme.
Lucian Butnaru, the owner of the SelfPay payment company, has started two build-to-rent projects in northern Bucharest that will target renters in the premium residential segment.
Some of the largest cities in Romania, including the capital, have some of the newest office stocks in CEE that have certifications, according to CBRE research.
Nusco Imobiliara has already sold 30% of the residential units comprising the second phase of urban regeneration project Nusco City, based in northern Bucharest.
Romanian developer HILS Development has announced the launch of a new mixed-use scheme in Bucharest that will include residential, office and retail components that will cover 180,000 sqm.
The office leasing activity in Bucharest totaled 292,000 sqm in the first three quarters of 2023, up by 46% compared to the same period of last year, according to iO Partners data.
Bucharest-based Calea Victoriei is the 50th most expensive main retail street out of 57 locations based in Europe, according to a Cushman & Wakefield report. On this ranking, Bucharest is behind Ljubljana, with a monthly rent of €55 per sqm.
Hospitality group Accor and Romanian construction firm Construcții Erbașu have signed hotel management agreements for two new hotels in Bucharest and Oradea. The companies have also extended the current management agreement for ibis Styles Bucharest Erbas.
Higher construction costs and the unfavourable economic situation in Europe are impacting the future development of new offices in the region, especially in capital cities like Prague, Bratislava, Budapest and Bucharest.
Romanian investment company Meta Estate Trust has entered into a partnership for the development of a premium boutique residential project in Bucharest. The company will invest €1.4 million in the project comprising 21 apartments that will be completed within the next 12 months.
Castorama has opened its 103rd shop in Poland. The outlet in the compact Smart concept is located in the Dekada shopping centre, at Armii Krajowej Street in Grójec. It is a 2,000-square-metre retail space, an outdoor garden zone and an assortment of around 15,000 off-the-shelf products.
In April this year, the House brand joined the group of tenants at CH Korona in Wrocław. The salon occupies nearly 285 sqm of sales space.
18 Gym Fitness & Beauty will open a new location within Agora Arad (the former Galleria Arad) in a deal brokered by the Cushman & Wakefield Echinox. Agora Arad has a leasable area of 36,000 sqm and is currently undergoing a major refurbishment.
New appointments
Emilia Dębowska has been promoted to the position of Head of Sustainability Europe of Panattoni. In her new role, she will be responsible for Panattoni’s integrated sustainable development strategy encompassing both the company’s business goals and the development of its projects in Europe for every country in which the developer is active.
Crosspoint Real Estate has appointed Oana Popescu as Partner. She has joined the Crosspoint team in the summer of 2017 and took over the lead of the residential department in 2022.
Urszula Sekuła has joined the Retail Institute team as Business Development Director. She will be responsible for business development in Poland and three European markets.
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