Vlad Stanislav has been named Managing Director of JLL in Romania, replacing Silviana Petre-Badea who held the position for the past seven years. He has over 22 years’ of experience in management and had previously held the role of Managing Director of Tetris Design & Build. 

Property developer Speedwell has purchased a new land plot of 15,000 sqm in Popești-Leordeni, near Bucharest, for its second light industrial project under the SpacePlus brand. 

The developers of Belvedere Residence in northern Bucharest sold the commercial gallery on the ground floor of the residential buildings within the complex to a private investor for an undisclosed sum. 

Romanian developer One United Properties has sold its stake in the company owning the One Herăstrău Office building to a private investor.

Investors and tenants in Romania appear to have higher expectations regarding the environmental characteristics of the building than their counterparts in other countries, according to a survey by CBRE of 20 building owners in Romania. 

The average office fit-out costs in Romania rose by around 20-30% in 2022 due to a combination of supply chain pressures and higher materials’ costs, which saw companies paying an average of €820 per sqm of office space, according to real estate consultancy Cushman & Wakefield Echinox. 

CTP has purchased three industrial parks in three Romanian cities from FM Logistic, a French supply chain services company, for an undisclosed sum.  

Housing prices in Romania rose by 34% between 2015 and 2021, while the average growth in the EU was 38%, according to a report by real estate consultancy Colliers. 

Square 7 Properties and Belgian investment fund Mitiska REIM will open this week Giurgiu Shopping Park, which has a leasable area of 7,000 sqm. The general contractor of the project was Austrian construction firm Strabag. 

Toys distribution firm Viva Toys has purchased a 12,500 sqm logistics space as well as a land plot of 63,667 sqm from Aplast Wood Industry, a portfolio company of the CEE Special Situations Fund managed by EMSA Capital, for an undisclosed sum. The assets are based in a locality in Ilfov County, near Bucharest.