ARTICLES LABELLED WITH TAG Bucharest

The Râul Doamnei - Eroilor section of the M5 metro line, inaugurated in September, will shorten the travelling time for 150,000 Bucharest inhabitants who live near the 10 newly built stations, also offering a quick travel alternative for almost 20,000 employees working in companies whose office buildings’ headquarters are located in the Eroilor - Progresului – Politechnica areas. The Râul Doamnei, Constantin Brâncuși, Valea Ialomiței and Romancierilor metro stations, located at the western end of the new metro line, each have a catchment area of between 18,000 and 22,000 people who can access the metro within a 10-minute walk, according to data from Cushman & Wakefield Echinox.

Local real estate developer Forty Management has acquired a 39,896 sqm plot of land of in the Străulești area of ​​the Bucharest from Butan Gas Romania in a transaction valued at €8.2 million. The developer plans to deliver the Central District Lagoon City mixed-use project with 570 apartments, hotel, offices and commercial space, following an investment of over €100 million.

Local developer One Untied Properties announced that its One Verdi Park project, located in the Floreasca neighbourhood of northern Bucharest, will focus mainly on exclusive residential units. The developer’s initial plan included a 17-floor office tower, offering 21,000 sqm of commercial space, alongside a residential tower. One Verdi Park is scheduled for completion in Q4 2021.

JLL has advised SLS Cargo, a transport and logistics company, in a lease transaction of 15,500 sqm of warehouse space in P3 Bucharest A1, located approximately 13 km west of Bucharest’s city centre. The new location is consolidating under one roof the logistic operations of SLS Cargo located around Bucharest.

P3 Logistic Parks lased out a total of 58,637 square meters of logistic and office space in H1 2020 to clients such as Gebrüder Weiss Romania, Interbrands Marketing & Distribution, Logwin or Just Master Activities. Of the total number of transactions, 52% of the surface (30,466 sqm) is represented by new long-term contracts, 38% are prolongations of existing contracts (22,420 sqm), and the remaining 10% (over 5,700 sqm) are short-term leasing agreements.

CTP has been named the landlord of choice by a joint venture partnership between Maersk and IB Cargo which is going to operate a 75,000 sqm distribution centre for IKEA Supply AG at ctPark Bucharest West.

Romanian real estate developer One United Properties has completed a capital increase process worth €25 million by selling part of its One Cotroceni Park urban regeneration project, currently under construction in Bucharest. The amount raised is to be invested in the further development of the project.

Speedwell has designated Bog’Art as the general contractor in charge of Miro, the company’s newest office project located in the Băneasa area of Bucharest. Miro project will offer its tenants 23,000 sqm of Class A office space spread out over 5 levels. The project has been granted the building permit and works have already started.

Resolution Property (based in the UK, a member of the Fosun Group, a major Chinese conglomerate and investment company) and Zeus Capital Management (a leading international real estate investment and asset management firm) have recently acquired Floreasca Park, a ca. 40,000 sqm office campus in the heart of Bucharest. The property was sold to the joint venture by a fund managed by GLL Real Estate Partners GMBH (a member of Macquarie Group).

Fashion House Group has appointed retail veteran Cornelia Nicolae to the position of Retail Operations Director in Bucharest. In the newly created role, Cornelia will be responsible for launching the Group’s new flagship development, its second in Bucharest, while continuing to drive footfall and sales at its established outlet centre in the capital.