ARTICLES LABELLED WITH TAG Bucharest

This year Spanish-based developer Gran Via Real Estate will complete the development of the Timișoara 58 residential complex in Bucharest, at the site of the former Frigocom factory, at the crossroads of Timișoara Boulevard and Moinești Street.

Romanian developer Forte Partners has acquired a 9,300 sqm land plot of on Expozitiei Boulevard in Northern Bucharest, Ziarul Financiar reported.

AFI Europe Romania plans to expand the AFI Cotroceni mixed-use project in Bucharest with new retail, office, residential and hotel components. According to Ziarul Financiar estimates, the expansion would see the project’s total value increase from €700 million to €1-1.2 billion.

Israel-based international hotel chain Fattal Holdings has acquired hotels in Budapest and Bucharest, increasing the chain's portfolio to 225 hotels.

Atenor announced that the final building permit for the Dacia One project has been obtained. Dacia One is located on the crossing between two of Bucharest most prestigious boulevards, Calea Victoriei and Bulevardul Dacia. The project includes two separate buildings consisting of a historic listed villa (1,500 sqm) formerly occupied by the German Legation and a new state-of-the-art Class A office building (13,500 sqm).

Spanish-based developer, Gran Via Real Estate has invested more than €200 million in Romania in the last 15 years and completed about 1,800 apartments until the end of 2019. The company has specialized in the conversion of former industrial lots into residential projects, communities where thousands of families have started a new life.

Element Industrial has completed the first phase of the Eli Park 1 logistics park in Chitila, northwest of Bucharest. The 20,000 sqm warehouse is leased to appliance producer Arctic, part of Turkish group Arcelik.

A group of investors have acquired 35 one-bedroom apartments in the Central District 4 Elements residential project, developed by Forty Management in the capital’s Titan area, for €3.4 million (excluding VAT). The investors will lease the apartments.

The Expoziției Area attracted almost 15% of the total demand for office spaces registered last year in Bucharest, thus entering the top 5 areas preferred by companies to locate their offices, at a very short distance from Center - West, the most dynamic area in the last 3-4 years, according to JLL:

The stock of modern office space in Bucharest reached 3.16 million square meters at the end of the third quarter of 2019, in the context of a population of 2.11 million inhabitants and an unemployment rate of 1.3 %, according to the Romania Office Destinations report, conducted by CBRE Romania.