The office leasing volume closed in H1 2024 grew by 0.2% compared to the same period of last year, with Bucharest seeing the biggest activity, followed by Cluj-Napoca and Timișoara, according to a report by Fortim Trusted Advisors.

Grand Development, founded by Romanian entrepreneur Ionuț Nicolescu, has closed a partnership with Radisson Hotel Group for the opening of its first five-star villas resort in Romania, near Brașov.

The number of employees working in office buildings rose from 40% in Q1 2023 to around 55% in Q1 2024 in the projects managed by Colliers in Romania.

Urbano Group will start this year the development of a commercial project in the western part of Cluj-Napoca metropolitan region and named Nhood Romania as exclusive agent of the new complex branded as Urbano Shopping & Living.

Romania’s retail market could top 4.5 million sqm this year considering that around 185,000 sqm of new retail projects are under various construction and planning stages, according to CBRE data.

New office deliveries in regional cities totaled 83,000 sqm in 2023 and the total leasable area has climbed close to 1.1 million sqm, according to a Cushman & Wakefield report. Offices in regional cities of the likes of Cluj-Napoca, Timișoara and Brașov represent around 30% of the corresponding total in Bucharest.

Office leasing in regional cities reached 37,441 sqm during 2023, equivalent to 18% of the space leased on the Bucharest market in the same period, according to a Fortim Trusted Advisors report.

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.