Dedeman has signed a contract for the purchase of The Office in Cluj-Napoca. The sellers are developers NEPI Rockcastle and Ovidiu Sandor. The purchase price has not been disclosed, but it is estimated to be around €100 million.

BNP Paribas Real Estate Romania has signed Property Management and Exclusive Leasing mandates for Hexagon Offices, a Class A office building located in one of the emerging office locations in the city of Cluj Napoca, owned by KÉSZ International Romania. The office building is expected to be completed in June 2019.

Belgian real estate developer Speedwell is investing €40 million in a mixed-use project in the Romanian city of Cluj-Napoca.

Romanian developer Speedwell has launched the construction works of Record Park, a mixed-use development and urban regenerating project in Cluj-Napoca. The €42 million project is due to be completed in H2 2020. The project is being developed on a plot of 17,300 sqm and will have a total built area of 36,000 sqm.

Belgian industrial and logistics developer WDP has acquired the CTPark Cluj I logistic park from CTP. The park, which was delivered last year, is leased by retailer Profi.

Belgian logistics property developer Warehouses de Pauw (WDP) plans to invest €75 million in four properties on three different sites in Romania by the end of 2019.

The accelerated economic development of the major regional cities in Romania is beginning to influence their real estate market as well. According to Colliers International, there are strong arguments to support the increased interest in office leasing and the strong investment potential, so cities such as Cluj-Napoca, Timisoara, Iasi or Brasov can offer an alternative to Bucharest.

Colliers International Romania advised on the sale of Maestro Business Center office building in Cluj-Napoca, one of Romania’s most important regional cities. The acquisition made by First Property Group, a UK investment fund, favors the opening of a new investment market in Cluj-Napoca.

CTP will deliver another logistics park in Cluj county by the end of this year. The 30,000 sqm CTPark Cluj II will be completed in three phases.

Companies have rented almost 70,000 square meters of office space in Bucharest in Q1 2018, according to JLL. One-third of the demand came from companies that formerly had their headquarters in old, small buildings or in other different from modern buildings (non-competitive stock). This segment of demand increased compared to last year when it accounted for only 7% of the total take-up.