Belgian real estate developer Liebrecht & wooD, continues the development of its second outlet centre on the Romanian market, in Cernica, near Bucharest, despite the effects of the COVID-19 pandemic, zf.ro reports.

The Poșta Puișor building in central Bucharest will be transformed into an office building by Forty Management & Investments, a company founded in 2015 by local investors Lucian Azoiței and Tudor Bădițescu, profit.ro has learnt.

CTP further expanded its portfolio in Romania and in the vicinity of Bucharest where it owns three properties: CTPark Bucharest West, CTPark Bucharest and CTPark Bucharest Chitila. The most recent 57,000 sqm purchase, Equest Logistic Park, is located near the capital, on the A1, at km 13. It was acquired for approximately €30 million from Forum Serdika, in the beginning of March 2020.

The Bucharest economy stands as one of the most insulated service centres in Europe to the negative fallout related to the COVID-19 outbreak. This is largely due to Bucharest’s heavy reliance on IT&C activities as well as scientific and professional services, on par with European capitals like Dublin, Paris and London.  That said, Romania’s high integration in global value chains means that it will face significant headwinds given negative developments in the global economy.

Cushman & Wakefield Echinox has been commissioned to manage Mendeleev Office 5, an office building recently delivered in downtown Bucharest, by Akcent Development.

Due to the uncertainty surrounding the coronavirus situation Property Forum has decided to reschedule its spring events – Bratislava Property Forum, SEE Property Forum and Prague Property Forum – to autumn 2020.

Revetas Capital Advisors and Cerberus Capital Management have put the Landmark office building in central Bucharest up for sale.  

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.