The office market in Bucharest expanded by 73,500 sqm to a total stock of 3.27 million sqm at the end of the first quarter of 2022, while leasing activity expanded by 44% compared to the first quarter of 2021, according to CBRE.
Romanian developer Iulius has announced a new urban regeneration project in Cluj-Napoca that will be jointly developed with Atterbury Europe following an investment of more than €500 million.
The average asking price for apartments in Romania gained 0.8% in February to €1,609 per sqm compared to the same period of last year. Over the past 12 months, the average increase of prices stood at 18.5%, according to property classifieds platform Imobiliare.ro.
Fortim, a member of the BNP Paribas Real Estate Alliance, has expanded its property management portfolio with the office project Maestro Center in Cluj-Napoca and Tureni Industrial Park in Cluj County.
Asking prices for apartments in Romania were up 2.7% at the start of January compared to last month, to €1,551 per sqm, with Cluj-Napoca leading the growth trend, according to real estate platform Imobiliare.ro.
Property developer White Star Real Estate says it has obtained the building permit for Liberty Residential, which will be integrated in Cluj Napoca-based Liberty Technology Park.
Echo Investment has signed a lease agreement with Auchan Polska for 1,200 sqm of retail space within Fuzja, a flagship multifunctional complex in Łódź. The retailer is scheduled to open the outlet during the summer of 2026.
Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
New appointments
iO Partners has appointed Constantin Banu as Business Development Director for its Industrial and Land segments. With over 25 years of experience in the Romanian real estate sector, Banu is widely credited with helping shape the local logistics market. In his new role, he will oversee expansion strategies for the two segments.
Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
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.