The first Marriott Hotel in Brașov will open in the mixed-use scheme Urban Plaza that will include apartments, offices and commercial areas.

Vlad Drăgoescu, President of the Board of Directors – Nemo (Radisson Blu / Park Inn Complex) and Head of Portfolio Management at Revetas spoke with Property Forum about the growth engines for the Romanian hotel market and the €24 million overhaul of Radisson Blu that will make it one of the biggest 5-star hotels in CEE.

Romanian property developer ICD Grup and a local investor have purchased a historic villa in central Bucharest from the George Soros Foundation for an undisclosed sum.

The annualized rate of new demand for offices in Bucharest is comparable to the value recorded in 2019, even though it is about a third below the record volume of 2017, according to research by real estate consultancy Colliers.

Tanya Kosseva-Boshova, Managing Partner, Lion’s Head Romania and Bulgaria, spoke to Property Forum about the leasing environment for offices and new investments made by the developer in the co-working space.

A new five-star Radisson Blu Hotel has opened in Cluj-Napoca, Romania’s second largest city that is one of the most popular leisure and business destinations in the country.

Romanian developer One United Properties plans to invest at least €70 million in the next two years in the urban regeneration of abandoned historical landmarks in Bucharest.

The most exposed sectors to the inflationary pressures in Romania are the residential, industrial and retail ones, with a lot more resilience found in the office segment, suggest representatives of real estate consultancy Cushman & Wakefield Echinox. 

Investments in Romania’s commercial real estate market amounted to €566.9 million in the first half of this year, compared to €194 million in the same period of last year, according to a report by real estate consultancy FortimTrusted Advisors, an alliance member of BNP Paribas Real Estate. 

Asking prices of apartments in Romania fell by 0.3% in June compared to the previous month, with the average listing price of a property reaching €1,745 per sqm.