ARTICLES LABELLED WITH TAG Romania

Romanian developer Iulius will invest €40 million to expand the Iulius Mall Suceava project with 14,000 sqm in a bid to add new retailers as well as leisure and food operators. 

Around 50,000 apartments were transacted on the Bucharest market in 2021, up 40% year-on-year, while some 67,000 new residential units were completed across Romania in the same period, according to a report by real estate consultancy Colliers. 

Romanian developer Forty Management expects a turnover of 397 million lei (€80 million) and a net profit of 188 million lei (€38 million) in 2022, while total investments in residential projects across Bucharest will reach 155 million(€31.3 million).

Revetas Capital has sold Vitantis Shopping Center in Bucharest, with a leasable area of around 50,000 sqm, to Praktiker Real Estate, owned by businessman Omer Susli, for an undisclosed sum, according to economedia.ro. 

Romanian developer Global Vision will invest €70 million in Bucharest Airport Park near Otopeni Airport. The first development phase of the new logistics project will kick off this year and the first warehouse could have a leasable area up to 10,000 sqm, depending on demand, said Sorin Preda, Global Vision’s CEO, according to zf.ro.

Polish developer Scallier has secured a building permit for a new retail park with a leasable area of 9,975 sqm in Vaslui, Eastern Romania.

Prima Development Group has announced the completion of the Core Timpuri Noi residential project in Bucharest following an investment of €23 million.

Developer Alesonor has kicked off the construction of the first villas in Amber Forest suburb located near Bucharest.

Investment transactions on the Romanian real estate market could exceed the €1 billion threshold this year, considering the projects in various stages of negotiation, according to Colliers.  At present, there are several transactions in the pipeline worth at least €100 million each, and others are ready to go on the market

Financial companies were the most active in the Bucharest office lease market during 2021, according to a report by real estate consultancy Cushman & Wakefield Echinox.