Romania saw 11 new retail projects completed last year, with a combined leasable area of 215,000 sqm, sending the market to a 7-year high in terms of deliveries, according to a Cushman & Wakefield Echinox report.
Edelstein Group has started the development of a new residential complex in Cluj-Napoca that will be completed in three phases following an investment of €60 million.
The Hexagon Group, controlled by Romanian entrepreneur Florin Mariș, has purchased a land plot spanning close to 7 hectares in Cluj-Napoca. The buyer plans to develop an urban regeneration project on the former industrial site. The value of the transaction was not made public.
Romanian developer Iulius is closer to kick off the construction of a mixed-use project in Cluj-Napoca after relocating a manufacturing facility in another part of the city. The Carbochim plan was relocated and upgraded following an investment of €5 million.
Romanian developer Iulius has signed a partnership with Oil Terminal, a public company owned by the state, for the urban regeneration of a 38-hectare land plot in Constanța. Iulius plans to invest more than €810 million in a large mixed-use scheme.
Romania ranks third in the top of the European countries with the cheapest housing, after Bosnia and Herzegovina and Greece, with an average price of €1,417 per sqm, according to a Deloitte report. Homes prices in Romania rose by 10.6% compared to 2021.
E.ON Business Services Cluj, part of the German group E.ON, will relocate to a new office space in Record Park, the mixed-use project developed by Speedwell, and owned by AYA Properties Fund. The fit out works for the new office have been completed and the company is expected to start operations in the new space soon.
The residential market in Romania registered a record number of deliveries of 73,332 new homes during 2022, up 3% compared to 2021, driven by the growth in regional cities, according to a report by Colliers Romania.
Office leasing volumes in Timișoara amounted to 51,400 sqm during 2022, which was more than half of the total deals closed in regional cities. Iași and Cluj-Napoca were next with volumes of 26,700 sqm and 15,200 sqm, respectively, while in Brașov office leasing covered 5,900 sqm.
Asking prices for homes in Romania were up by an average of 1.6% to €1,435 per sqm in February after growing by 0.9% in the previous month, according to property classifieds platform Imobiliare.ro.
Hexing Technologies Europe has leased 8,000 sqm for a new production plant in Globalworth Timisoara Industrial Park I. The lease deal was brokered by CBRE.
Eolus Poland, a renewable energy developer from Sweden, will become one of the tenants of LIFE Building. It will soon occupy nearly 300 sqm of the office building located in Warsaw's Wola district.
Polcast Media group, the owner of Polonia 1 TV, has signed a lease for approximately 500 sqm of office space at Trinity One in Warsaw. Located in Warsaw's Służewiec district, Trinity One is part of Revetas Capital's portfolio.
New appointments
Avison Young has named Adrian Crizbășianu, former executive at DB Schenker and VGP, as the new Head of Industrial & Logistics Agency. He has an extensive background in logistics and real estate spanning over 25 years.
Katarzyna Uzar joins the Valuation and Advisory team at Avison Young in Poland to take on the position of Assistant Valuer. She will support the team in creating offers and letters of appointment for valuation and will help property valuers throughout the valuation process.
Bartosz Chrostowski, an expert with almost 10 years of experience in commercial property, has joined real estate advisory firm Savills as an Associate Director of the landlord representation team of the office agency led by Daniel Czarnecki.
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