The hotel sector in Romania in on the recovery path following the steep drop in demand recorded in 2020 due to lockdown measures designed to contain the pandemic. Despite the health crisis, few projects have been abandoned, while deliveries of new hotels were delayed or postponed.
The volume of investments in Romania’s property sector exceeded €140 million in the first four months of 2021 due to a positive market sentiment, according to a report by real estate consultancy Crosspoint Real Estate.
Apx Hotels Group has expanded its portfolio with a new 4-star hotel in the historic centre of Sibiu, following the acquisition of former Libra hotel in a deal worth €1.85 million. Crosspoint Real Estate assisted the buyer.
Nusco Imobiliara, one of the largest real estate developers in Romania, named Crosspoint Real Estate as a sales agent for its newest residential project, Nusco City, located in the capital’s Pipera area.
The transaction in which Sif Banat – Crișana bought the shares held by Doosan Heavy Industries & Construction in Doosan IMGB, was authorized by the Competition Council. The transaction, involving a land plot with an area of 540,000 square meters, the largest land plot ever traded in Bucharest, was brokered by Crosspoint Real Estate.
With a total volume of approximately €120 million in the first quarter, the Romanian investment market had a similar start compared with the same period in 2019, when the volume of transactions was €117.5 million. An optimistic scenario puts the total volume of investments for 2020 at €750 million, while a pessimistic one somewhere at €500 million. Crosspoint Real Estate has issued its latest market report on the Romanian real estate market’s performance.
Corporate Finance House Group, a Middle Eastern investor, has acquired the holding structure owning Day Tower office building in Bucharest, developed by Dimitris Mourkakos of Day Group and completed at the end of 2018. The investor was advised by Savills on its first investment in the country, while the developer was assisted by Crosspoint Real Estate.
According to the latest European hotels trend report by Savills, emerging European tourist cities such as Dublin, Lisbon and Madrid and alternative operating structures such as non-leased operating structures offer higher yielding opportunities for those investors willing to take on more risk.
Savills has named Crosspoint Real Estate its associate in Romania as part of its continued expansion across Central and Eastern Europe. Savills and Crosspoint signed a partnership agreement in Summer 2017 with the association status taking the successful relationship to the next level. Recent instructions include advising on the sale of the Bank of Cyprus building from SIF Banat Crişana to a firm belonging to a Romanian businessman in November and securing transactions with land plots with a total value of over €60 million in 2018.
108 Agency Slovakia has secured a lease of 5,300 sqm for RajHračiek in ANTRACIT Park Senec, a built-to-suit project by HSF. RajHračiek is a fast-growing online store offering a wide selection of toy brands for children.
Contract Administration as a result of the renegotiation of the lease agreement, remains in the premises of the West Forum complex in Wrocław. The Lessor, represented by TFG Asset Management, was supported in the process by the consulting agency Corees Polska.
Uni-logistics, which specializes in sea, rail and air freight forwarding and road transport, has leased 5,825 sqm of warehouse and office space in Panattoni Park Tricity East VI in Poland. Real estate advisory firm Cresa Poland assisted the tenant during negotiations.
Paweł Suracki joined Colliers as the Investment Services Director. He will be responsible for managing sales and purchasing processes on behalf of Colliers' clients and for establishing and maintaining relationships with potential and current Colliers' partners in Poland.
Avison Young has announced a key change to its directors’ team in Budapest with the arrival of Martina Cifer at the helm of its Office Leasing department. In her new capacity, she shall oversee both the company's Landlord and Tenant Representation divisions.
Łukasz Czajkowski joins the team of JLL Poland as Business Services Lead in Tenant Representation Department. He will be responsible for enhancing relations with the BSS sector.
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