ARTICLES LABELLED WITH TAG Bucharest

Romanian IMPACT Developer & Contractor has recorded a gross profit of 16.7 million lei (€3.3 million) in the first quarter of 2022, up 49% compared to the same period of last year over higher residential sales. 

Romanian developer One United Properties said its first quarter turnover gained 81% to €70.5 million compared to Q1 2021, while its gross profit rose almost fourfold to €42 million over higher residential sales and rental income. 

Asking prices for apartments in Romania rose by an average of 3.2% to €1,707 per sqm in April compared to the previous month, while on a 12-month basis prices expanded by 22.3%, according to a report by Imobiliare.ro platform. 

More than 50% of the industrial and logistics projects under construction in Romania are already pre-leased with leasing activity in Q1 2021 rising by 50% to over 300,000 sqm compared to the same quarter of 2021, according to a report by Cushman & Wakefield Echinox. 

Companies in the IT&C sector had a share of 32% in Bucharest’s office lease market in Q1 and generated 93.6% of new leasing transactions in regional cities such as Cluj-Napoca, Iași, Timișoara and Sibiu.

Irish fashion retailer Primark will open a new store in AFI Cotroceni, the shopping mall owned by AFI Europe in Bucharest. 

Romanian developer Genesis Property will invest €50 million in the transformation of office complex Novo Park into YUNITY Park, a campus that will include co-working and co-living spaces. The project spanning seven buildings with a leasable area of 75,000 sqm will be completed in the first quarter of 2023. 

Logistics provider Maracana has signed a lease to expand its warehouse capacity to over 10,000 sqm in MLP Bucharest West, in a deal brokered by real estate consultancy JLL Romania.

Over 27,000 new homes are under construction in Bucharest and its surrounding areas, which is the largest number in the modern history of the local residential market, according to real estate consultancy SVN Romania. 

Property developer P3 Logistics Parks has completed a new accommodation building spanning 2,000 sqm for the staff employed in the P3 Bucharest A1 logistics park near Bucharest.