ARTICLES LABELLED WITH TAG development

AFI Europe Romania has signed a financing agreement for €22 million with Bank Leumi Romania for the development of phase 1 of AFI Tech Park, the newest business park the company is currently developing in Bucharest.

The Hungarian government plans to maximise the height of any building in Budapest at 65 metres, the minister leading the Prime Minister’s Office announced. János Lázár told journalists that there is a bill before Parliament that would ban the construction of buildings higher than 65 metres.

As a response to continued strong demand from tenants in Budapest and Bucharest, Skanska plans to launch several new projects in both capital cities. Marcin Łapiński, Managing Director for Hungary and Romania talked to Property Forum about the differences between the two markets.

Forte Partners have inaugurated the first phase of The Bridge office project located in the Grozavesti-Basarab area in Bucharest. The first building offers 36,871 sqm of leasable space. Its tenants include IBM and BCR. The first phase of the project was financed by UniCredit Bank. Bog’Art was the main construction contractor.

CPI Property Group has begun work on the Mayhouse office building, offering 7700 square metres of modern office space from the first half of 2019. The building fills a vacant plot in the Prague district of Pankrác with views to Prague Castle.

GTC has signed a €60 million refinancing and investment loan with Raiffeisen Bank International AG for the refinancing of Green Heart, its new office project in Serbia. The office park has already reached a prelease level of 42%.

NEPI Rockcastle inaugurated Shopping City Ramnicu Valcea, following an investment of €40 million. With a leasable area of 27,900 sqm, Shopping City Ramnicu Valcea offers 14,000 sqm of fashion brands, a hypermarket and services area of 10,000 sqm and 3,000 sqm of restaurants and entertainment area.

Mitiska REIM, in partnership with Squaretime Development, has announced the opening of two new retail park developments in the Romanian cities of Bistrita and Pascani.

The Iulius Company completed a new office building spanning on over 13,000 sqm in Openville Timişoara, the mixed-use project the company develops together with Atterbury Europe in the vicinity of Iulius Mall. United Business Center 1 (UBC 1) is the second building opened in Timişoara in 2017, after UBC 2 (18,000 sqm) opened in January. Following this latest achievement, the total office area delivered by Iulius on the local market over a single year now adds up to 31,000 sqm.

The MLP Group has allocated land for the construction of a new distribution center for MAKRO Polska to be built in the MLP Czeladź logistics park. It is anticipated that the construction will be complete and the finished warehouses will be handed over to the tenant in June 2018.