ARTICLES LABELLED WITH TAG Romania

2024 is foreseen to experience a decline in SEE construction markets but a comeback is the projected current scenario for 2025. Romania is expected to contribute most negatively to the shrinkage of the SEE region in 2024. The rest of the countries is forecast to perform better. Bulgaria, Croatia and Serbia could end up at higher level in 2025 than what was experienced in 2023. The EECFA (Eastern European Construction Forecasting Association) released its 2023 winter construction forecast.

Romanian developer One United Properties has secured a loan deal with Alpha Bank Group with a value up to €30.5 million for the development of One Gallery, a retail gallery based in northern Bucharest that is part of One Floreasca City mixed-use scheme.

Speedwell says it has completed the construction works for the first 123 apartments in the mixed-use urban regeneration project Paltim, based in Timișoara. The delivery of the apartments is expected in Q1 2024.

Chinese car parts maker KSHG Auto Harness has leased 13,000 sqm of production space in CTPark Deva II, while taking its total leased surface in the project to 21,000 sqm. CTP said the lease transaction underpins the growing demand from large companies looking to nearshore their production facilities for the European market.

Hospitality group Accor plans to open more than 90 hotels across Europe, Middle East and Asia during 2024, of which four will be based in CEE markets.

Lucian Butnaru, the owner of the SelfPay payment company, has started two build-to-rent projects in northern Bucharest that will target renters in the premium residential segment.

The Hexagon Group, controlled by Romanian entrepreneur Florin Mariș, has purchased a land plot spanning close to 7 hectares in Cluj-Napoca. The buyer plans to develop an urban regeneration project on the former industrial site. The value of the transaction was not made public.

The Greenfield Plaza shopping centre, which is located in the Greenfield Băneasa project developed by Impact Developer & Contractor has obtained the BREEAM Excellent certification following the evaluation carried out by BuildGreen.

Some of the largest cities in Romania, including the capital, have some of the newest office stocks in CEE that have certifications, according to CBRE research.

Pan-European commercial property collective, M Core, has officially launched into the Romanian market following the acquisition of 25 retail parks from Mitiska REIM in a deal worth  €219 million.