The ongoing construction of office projects in Bucharest fell by around 50% year-on-year by H1 2024, to 46,900 sqm, with their completion scheduled for 2024-2026, according to an iO Partners report.
Real estate investor Unione Group has purchased two Interspar stand-alone units located in Nyíregyháza and Zalaegerszeg, leased and operated by SPAR since their delivery in 1999
Bucharest’s office development pipeline is low, with just 24,000 sqm expected for delivery by the end of 2025, which could further push pre-leasing activity to new lows, according to a report by iO Partners.
The industrial sector in Romania is recording a slowdown in Q1 2024, with the same trend being recorded across Central and Eastern Europe (CEE) markets, according to a iO Partners analysis.
Spaces leased by private medical operators now represent about 2.5% of the total modern office space available in Bucharest, with most of the players occupying buildings in Bucharest’s main office hub based in northern Bucharest, according to an iO Partners report.
Vlad Stanislav, Managing Director Romania at iO Partners, talked to Property Forum about the company’s expansion in the energy and infrastructure line of services and the higher yield environment in Romania’s property sector compared to other markets in CEE.
Industrial developer WDP has purchased wholesale retail park Expo Market Doraly from ARA Europe and Romanian investor Gheorghe Iaciu for an undisclosed sum.
Charles Boudet, CEO of iO Partners, spoke to Property Forum about the ongoing expansion plans of the real estate consultancy in the region and the trend of foreign investors returning to their core markets.
Banca Transilvania has renewed its lease for 1,200 sqm in AFI Park Timișoara, in a deal brokered by Cushman & Wakefield Echinox.
Revetas Capital has secured four lease transactions totalling 5,700 sqm of gross leasable area at the Bonarka for Business (B4B) office park in Kraków. The transactions include a new lease agreement with telematics firm Geotab, alongside three lease renewals. Geotab has taken up office space in Building E of the complex. Concurrently, KION renewed its commitment to 4,000 sqm of office space within the same building. The remaining two lease renewals were finalized for spaces in Buildings F and D. Cushman & Wakefield represented Geotab, and JLL advised KION on the deals.
Sirowa Poland has relocated its office in the revitalised mixed-use Centrum Praskie Koneser complex. The international distributor of cosmetic and pharmaceutical brands leased 958 sqm in Building P at the development, in a deal brokered by Savills.
New appointments
Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.
BNP Paribas Real Estate Poland has expanded its Industrial and Logistics Agency team with the appointments of Joanna Choromańska, formerly of JLL, and Bartosz Wilczyński, previously with CBRE. The new hires bring a combined 34 years of experience in sector sales, lease negotiations, and build-to-suit project delivery to support the division's ongoing growth.
Speedwell has expanded its industrial and logistics team with the appointment of Valentin Achim as Leasing and Property Manager for Industrial Developments. Achim brings extensive experience in coordinating commercial and operational activities within the logistics and industrial sectors. In his new role, he will oversee the development and expansion of the company's Spaceplus platform.
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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.
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