Bucharest has seen a 12% increase in average office fit-out costs in 2024, surpassing €1,000 per sqm, but this level is still among the lowest in capital cities across CEE, according to Cushman & Wakefield Echinox research.
Romania is preparing for a wave of new hotel openings in 2025-2026, solidifying its position as an attractive tourist destination in CEE, according to a report by Colliers.
NEPI Rockcastle says it reached a record-breaking net operating income (NOI) of €556 million during 2024, a 13.2% increase compared to the previous year, over strong retailer sales and resilient consumer demand in CEE.
Industrial developer CTP said its profits reached a fresh high of €1.1 billion during 2024, almost 15% up year-on-year, driven by substantial growth in rental income, leasing activity, and a strong development pipeline.
Western European investors have been the most active buyers of real estate assets in Romania over the past five years, making placements of €1.75 billion, according to data from Cushman & Wakefield Echinox.
Dr. Dániel H. Nagy, Partner and Head of Tax & Legal Services of Forvis Mazars Hungary, talked to Property Forum about the strong points of Hungary’s tax system for real estate investors and the ESG-based trends shaping the CEE property sector.
Arcona Property Fund (APF), a Euronext-listed real estate fund focused on CEE, has purchased a land plot in central Kyiv from AIM London-listed Secure Property Investment and Development (SPDI).
Revetas Group has announced the sale of Park Center Sofia shopping center to TSH Investment, a joint venture between Trinity Capital AD and HUS Invest AD, for an undisclosed sum.
The global fintech group - Capital.com - has extended its lease agreement for 3,000 sqm of office space in the Skyliner office building in Warsaw until 2032. Over the past 12 months, lease extension agreements for a total of nearly 12,000 sqm have been signed in the building.
REHAU, a global manufacturer of advanced polymer solutions, has signed a lease for approximately 4,100 sqm of space at MLP Business Park Poznań. The new facility will integrate warehouse operations with modern office space and a dedicated showroom for product presentations, corporate meetings, and technical training.
RecuNova has leased 305 sqm in the Bucharest-based Olympia Tower office building for a new medical clinic. The lease deal was brokered by Activ Property Services.
New appointments
Romanian office developer Genesis Property has appointed Cătălin Niculiță as Leasing Manager. With nearly 20 years of experience in the real estate industry, he has held leadership roles at real estate companies such as Atenor, collaborating with major office tenants in the banking, telecom, and IT sectors.
Krzysztof Wróblewski (MRICS) has been named Head of Portfolio Management CEE at Peakside Capital Advisors, responsible for overseeing investments and managing the real estate portfolio. He succeeds Christopher Smith in this role.
Garbe Industrial is reorganising its senior leadership team. CEO Christopher Garbe will now focus on strategic orientation and international activities. Jan Philipp Daun assumes leadership of the Development division alongside his existing Investment and Joint Venture responsibilities. Andrea Agrusow expands her remit to include Portfolio Management while retaining control of Commercial and Real Estate Management. Additionally, Michael Marcinek and Maik Zeranski will now jointly head the restructured Development unit as Management Board Members, succeeding Adrian Zellner.
ABOUT US
Property Forum is a leading event hub in the CEE real estate industry with over 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Warsaw, Budapest, Bucharest, Bratislava, Prague, Zagreb and Sofia, amongst other locations.
I have read the Privacy Policy of International Property Network Inc. and I consent to International Property Network Inc. sending me newsletters and managing my personal data provided for this purpose.