ARTICLES LABELLED WITH TAG Romania

Property group Immofinanz has signed a 25-year lease for 6,500 sqm in Bucharest-based myhive Victoria Park to Leventer Medical Group. The leased area will host Leventer Hospital, the country's first private dermatology and surgical oncology hospital that will open in 2024 following an investment of around €10 million. 

Property developer Globalworth has secured a green loan of €85 million from the IFC, a member of the World Bank, which will be used for the expansion of sustainable projects in Romania. 

Romanian developer Iulius will develop a new residential building in Iași, close to Palas Campus office project, based on the architectural complex designed by UNStudio. 

Andrei Duță, Country Manager Romania at Realpad spoke to Property Forum about the openness of local residential developers to digitization solutions, but also about the company's expansion into other cities in Romania. Realpad will add digital solutions for the commercial and rental sector as part of an ambitious growth plan in the region.

Romanian developer One United Properties has purchased a 10,710 sqm land plot near Floreasca where it plans to start a new residential investment.

Property developer Speedwell has received the BREEAM Excellent certification for its Miro office project based in northern Bucharest. 

Yitzhak Hagag, Co-Founder and Shareholder of Hagag Development Europe, talked to Property Forum about the expansion of the company's €300 million portfolio focused on residential and offices in Bucharest and the development plans for the emerging hotel division. The developer is looking to increase its presence across Romania and plans to expand in other European markets in the long term.

The listing value of commercial real estate properties such as shopping malls, office buildings and logistics centres could grow in the short and medium-term in Romania. The increase will be recorded in a volatile context generated by rising building material and utility prices, increasing inflation, as well as the border conflict and the effects of the pandemic, according to Colliers.

Hungarian investor Indotek Group has purchased the One Victoriei Center office building in central Bucharest as part of its expansion strategy for an undisclosed sum. 

The office market in Cluj-Napoca is the second largest in Romania following the one in Bucharest and there are eight office buildings with a total leasable area of 130,000 sqm under development that will be completed by 2025, according to real estate consultancy Fortim Trusted Advisors, part of BNP Paribas Real Estate Alliance.