Andreea Mihai has been appointed as the new CEO of Hagag Development Europe, tasked with overseeing the development of the Romanian operations. 

The total stock of retail park spaces in Romania will exceed the supply of commercial spaces located in shopping malls if the current investment activity continues, according to a report by real estate consultancy Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance. 

The office leasing market in Romania has recorded a fall of 18% in gross take up in the first half of 2022 compared to the same period of last year, although Bucharest has seen a slight increase, according to a report by real estate consultancy JLL Romania.

Horia Ciorcilă, one of the founders of Banca Transilvania, Romania’s biggest lender by assets and Evergent Investments are jointly planning the development of a residential project in northern Bucharest.

Genesis Property is investing €50 million in YUNITY Park, a mixed-use project in Bucharest with co-working and co-living components. Darren Allen, Development Director of Genesis Property spoke to Property Forum about the office market amidst the adoption of hybrid working and investing in campuses with complex facilities for a new work and play experience.

DBH Group, a Dutch-based international corporation, focusing on venture capital, flexible infrastructure & corporate services, has leased office spaces in two buildings owned by Skanska in Romania and Hungary. 

Up to 20 new hotels are slated for delivery across the country by the end of 2023, of which six projects will be completed in Bucharest, according to a report by real estate consultancy Crosspoint Real Estate.

Romanian company Impact Developer & Contractor recorded sales of 90.3 million lei (€18.5 million) for 110 residential units in the first half of 2022, up 45% compared to the same period of last year.  

Liviu Tudor, Founder and Chairman of Genesis Property, spoke to Property Forum about the development status of the YUNITY Park project in northern Bucharest and the upgraded experience that offices have to offer to tenant companies and their employees for future growth.

As students are preparing to resume their university studies in person, asking rents in large cities have gone up by up to 10% by the end of August 2022 compared to the same period of last year, according to property platform Imobiliare.ro.