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. 

The modern office stock in regional Romanian cities is set to reach around 1.3 million sqm in the next five years if the planned projects spanning 275,000 sqm will be delivered in this period, according to a report by real estate consultancy Cushman & Wakefield Echinox.