ARTICLES LABELLED WITH TAG Romania

Romanian developer One United Properties has purchased a land plot of 3,065 sqm for the extension of its residential complex One Lake Club, located on the shores of the Lake Tei in Bucharest. 

Romania’s modern retail stock reached 4.02 million sqm at the end of the first quarter, with the new supply expanding by 19,500 sqm, according to a report by real estate consultancy CBRE. 

Property consultancy Cushman & Wakefield Echinox has taken over the management of Funshop Park developed by Polish company Scallier in Timișoara. 

Romanian developer Iulius has announced a new urban regeneration project in Cluj-Napoca that will be jointly developed with Atterbury Europe following an investment of more than €500 million. 

Property developer Speedwell has leased 630 sqm in its own Miro office building, which it developed in northern Bucharest. 

Property investor Globalworth has purchased a small business units logistics project previously developed by CATTED in Chitila, near Bucharest. Furthermore, the two companies will acquire a land plot of around 45,000 sqm in Ștefănești for a new logistics investment.

Class A offices in Bucharest have some of the cheapest rents compared to other large European cities with strong business centres, according to a report by BNP Paribas Real Estate Alliance members. 

Romania's commercial property market has remained liquid throughout the pandemic period, with total investment volumes reaching €1.83 billion over the 2020-2021 period, up 8.7% versus 2018-2019, according to a report by real estate consultancy Cushman & Wakefield Echinox.

Czech investor PPF Real Estate has purchased a construction site land with a building permit in Bucharest, for the development of a new office building named ARC from property developer RC Europe. The project is due for completion in 2024 following an estimated investment of €60 million. 

The rising prices of raw materials and ongoing supply problems result in a more challenging environment for construction, but at the same time, strong demand from developers and a focus on ESG and technology create a good opportunity for growth. Attila Beer, Country Manager of Alukönigstahl Romania talked to Property Forum about the trends driving Romania’s construction sector.