ARTICLES LABELLED WITH TAG Bucharest

Hungarian Crown Holding Kft. has purchased Cascade Office Building in central Bucharest for €10.1 million.  

The amount of property investments in Romania totaled €336 million in the first half of 2022, up around 13% year-on-year, while solid pipeline of transactions is under negotiation and could be completed by the end of the year, according to a report of real estate consultancy CBRE. 

Sales of homes on the Romanian market totaled 85,000 units in the first half of 2022, up 3.4% compared to the same period of last year, according to real estate consultancy SVN Romania. In the same interval, sales in Bucharest and Ilfov county rose by 16.6%. 

Leasing volumes in the Romanian industrial and logistics market rose by 50% to 542,000 sqm compared to the same period of last year, with more than half of the activity being generated around Bucharest.

Romanian developer One United Properties has purchased a land plot of 36,869 sqm in northern Bucharest in a deal worth around €60 million. The company plans to develop a new residential complex with around 900 apartments.

Bogdan Doicescu, Development Director & Executive Board Member at Bog’Art, spoke to Property Forum about the cost forecast for the construction market in 2022 and the company’s plans to diversify their activity with their own residential developments in Bucharest.

Property developer Alesonor has obtained a financing of €21 million from Banca Transilvania that will be used for the first phase of the Amber Forest project near Bucharest. The money will support the development of 294 green homes. 

Vlad Drăgoescu, President of the Board of Directors – Nemo (Radisson Blu / Park Inn Complex) and Head of Portfolio Management at Revetas spoke with Property Forum about the growth engines for the Romanian hotel market and the €24 million overhaul of Radisson Blu that will make it one of the biggest 5-star hotels in CEE.

Romanian property developer ICD Grup and a local investor have purchased a historic villa in central Bucharest from the George Soros Foundation for an undisclosed sum.

The annualized rate of new demand for offices in Bucharest is comparable to the value recorded in 2019, even though it is about a third below the record volume of 2017, according to research by real estate consultancy Colliers.