ARTICLES LABELLED WITH TAG Bucharest

Romanian developer One United Properties is reportedly exploring several options to expand outside the domestic market.

Romanian developer Forty Management has completely sold all the apartments and leased all spaces in the Central District 4 Elements project that was completed last year following an investment of €25 million.

Ozan Tuncer has been appointed as the new CEO of Cosmopolis, Opus Land Development's residential compound located near Bucharest. He is replacing Ahmet Buyukhanl, who remains the main shareholder of the company. 

Hagag Development Europe has acquired a new office building located near Bucharest's central area with a built surface of 6,000 sqm. 

Hungarian Indotek Group has purchased Băneasa Business Center, located in the northern business center of Bucharest, with nearly 10,000 sqm of leasable space for an undisclosed sum. 

Property developer Anchor Grup has secured a financing volume of €80 million from Banca Transilvania that will be used to refinance the retail and office segments of the company. 

There is increased demand for all categories of property assets in Romania, with office and industrial set to continue their growth streak this year. Property Forum talked to Victor Constantinescu, Managing Partner of Kinstellar’s Bucharest office and Co-Head of the firm-wide Real Estate practice, about the impact of the pandemic on Romania’s real estate market and how the country’s property investment potential can be harnessed in the next years.

Romanian e-commerce player eMAG is investing in a new warehouse spanning more than 100,000 sqm near Budapest, which is the company’s first development of this kind outside the country. 

Delivery firm Cargus has started operations last September in a warehouse covering 15,000 sqm in CTPark Bucharest that will accommodate fulfillment demand of e-commerce companies. 

The average asking price for apartments in Romania gained 0.8% in February to €1,609 per sqm compared to the same period of last year. Over the past 12 months, the average increase of prices stood at 18.5%, according to property classifieds platform Imobiliare.ro.