Property developer STC Partners has obtained the building permit for both phases of the Quartier Azuga residential complex, along with the Green Homes pre-certification and will start construction works for the first phase this autumn.
Up to 20 new hotels are slated for delivery across the country by the end of 2023, of which six projects will be completed in Bucharest, according to a report by real estate consultancy Crosspoint Real Estate.
The property investment market in Romania totalled €518 million in the first half of 2022, up 30.5% compared to the same period of last year, with retail and office sectors driving deals, according to real estate consultancy Crosspoint Real Estate.
MAD Planning & Projects has sold an office building in Bucharest to the University of Medicine and Pharmacy in Bucharest for an undisclosed sum. The building located close to the University Area is set to host a medical simulation center.
Codrin Matei, Managing Partner, Head of Capital Markets at Crosspoint Real Estate spoke to Property Forum about the real estate asset classes that can attract new foreign investors and the high level of capital available for innovative projects. The agency has been generating growing revenues in the residential sector and expects business to grow in all commercial segments this year.
Investment activity in Romania’s property market totaled €98.6 million in the first quarter of this year, up 75% compared to the same period of last year, according to a report by real estate consultancy Crosspoint Real Estate.
Real estate consultancy Crosspoint Real Estate estimates that all 256 apartments in Vulcan Residence based in Bucharest will be sold by the second half of 2023. The agency is the exclusive seller of the project, which is NEPI Rockcastle’s first residential investment in Romania.
Property group NEPI Rockcastle, the biggest owner of shopping centres in Romania, says it has started the construction of its first residential project in Bucharest.
The Polish provider of logistics and freight forwarding services has ordered about 2,000 sqm of additional space at MLP Poznań West. Once this new space is delivered to the tenant in June next year, Hart Logistics will occupy a total of nearly 12,000 sqm. The adviser in the transaction was Profi Home, a consulting firm.
Samsung R&D Institute Poland has extended the lease agreement for its office space in Warsaw Spire. During the negotiation process, the tenant was advised by a team of experts from JLL.
The Ministry of Sport and Tourism has leased a space of over 600 sqm in the Królewska Centre at 142 Marszałkowska St. It is an A-class building located in the centre of Warsaw, opposite the Saski Garden. The lease transaction was brokered by Brochocki Law Firm.
New appointments
JLL in Prague announces the appointment of Milan Kilik as its new Head of Office Agency for the Czech Republic as of beginning of October 2022.
Agnieszka Boroń has joined Equilis Poland to take up the post of Development Director. She has worked in the construction and development industry for over 20 years, specialising in residential project management. Prior to joining Equilis Poland, she was programme director at Nexity. Prior to that, she worked in managerial positions at Dom Development.
Agnieszka Baczyńska took up the position of Head of Leasing - Retail in CPIPG. She is responsible for the commercialization of retail facilities from the CPIPG portfolio. Baczyńska also manages the leasing of office space on the buildings owned by CPIPG.
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