Romania saw new construction volumes expand by 64% in 2023 compared to the previous year, reaching also a record in gross value and growth rate from the past decade, according to the EBI Construction Activity Report.
IBB Holding Romania, founded by Romanian entrepreneur Ion Crăciunescu, has started the development of a new residential complex in Pipera, near northern Bucharest, which will have a market value of around €160 million.
Victor Căpitanu, Co-Founder and Co-CEO of One United Properties spoke with Property Forum at Mipim in Cannes about the company’s residential development pipeline valued north of €1 billion and Bucharest’s capacity to provide high yields for real estate investors.
Geosan Development is launching another series of apartments in the Radimova Břevnov Residence in Prague 6. The developer has sold over 60% of the apartments in the project so far.
YIT's Happi Milánská project in Horní Měcholupy in Prague 15 has been approved for use by authorities. The company built the project using a system of prefabricated concrete elements.
Property group NEPI Rockcastle has completed its first residential project in Romania. The Bucharest-based Vulcan Residence complex features 254 apartments and has been delivered with an 80% sale rate.
The residential market in Slovakia has almost stopped. The top ten Slovak developers have sold a total of fewer than 800 apartments in Slovakia, as 2023 figures are showing in the ranking on Index.sme.sk.
Design and construction consulting office Obermeyer Helika has completed and handed over the documentation for the construction of the Semerínka residential project in Prague 5 Radlice developed by Crestyl. The construction of the project has started.
PSN has reached a milestone in base building construction at the Ahoj Vanguard development project in Modřany, Prague. Close to the apartment building, the conversion of the former Microna factory into Vanguard loft housing is also nearing completion.
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.