Romania recorded new real estate investments worth €85 million in the first quarter of 2021, down 42% year-on-year, in line with the lower results of other markets in Central and Eastern Europe, according to a report by Colliers.
Romania’s Vox Property Group says it secured €19.5 million in funding from CEC Bank that will be used to refinance other loans and to support ongoing projects in the country.
Agricultural products maker Corteva has pre-leased around 23,000 sqm of industrial space in a built-to-suit warehouse located in northeastern Bucharest.
Romania's Impact Contractor & Developer says it recorded sales of RON 39.3 million (€7.9 million) in the first quarter of 2021, up 71% year-on-year, due to higher demand in the residential market.
Real estate consultancy Colliers is testing the first intelligent software robot dedicated to the real estate industry in Romania. The company is using the Robotic Process Automation (RPA) technology developed by UiPath.
The European Bank for Reconstruction and Development has successfully subscribed to a €24.7 million ticket as part of an inaugural five-year €300 million green bond issuance by MAS Securities BV. The firm is wholly owned by MAS Real Estate Inc., an investor and operator of predominantly retail real estate assets that focuses on CEE.
Radisson Hotel Group has announced a €24 million investment program in Radisson Blu Bucharest Hotel, owned by Revetas Capital and Cerberus Capital Management, that will include the redesign of common spaces and the increase of the room count.
Retailer Penny, part of Rewe Group, has announced a long-term investment program in Romania that includes the expansion of the store network and the development of logistics operations.
Romanian Impact Developer & Contractor said it has secured two bank loans worth more than €13 million from Libra Bank to start new investments in the Greenfield residential project, located in northern Bucharest.
CPI Property Group has relocated its headquarters to the Warsaw Financial Centre. The legal, technical, marketing and PR teams will take up close to 800 sqm of office space.
German medical furniture manufacturer Stiegelmeyer has leased 3,600 sqm of warehouse space in GLP Toruń, which will be used as the company’s European distribution hub.
The women's underwear manufacturer Agio Milano has decided to rent 800 sqm of warehouse space in a private investment located near Ożarów Mazowiecki near Warsaw. AXI IMMO was responsible for negotiations on behalf of the tenant.
New appointments
The Board of 7R has appointed Katarzyna Dorocińska to the position of Head of Marketing and Communications. Katarzyna's main responsibilities will include the creation and implementation of a new marketing and communication strategy for the 7R brand.
Bartłomiej Krzyżak, formerly Director in the Investment Department, has been promoted to Senior Director at Avison Young. Bartłomiej has been at Avison Young from the very beginning of the company’s entry into the Polish market. He has 12 years of professional experience gained also in CBRE, Cushman & Wakefield and Savills.
Roman Babic has joined CBRE's Zagreb corporate office as Property Manager within the Property Management department.
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