Strategic investor Hili Properties, part of Hili Ventures, has purchased a controlling stake of 75% in the Miro office building, developed by Speedwell in northern Bucharest, for an undisclosed sum. The remaining stake in the project will remain in the developer’s ownership for another two years. 

Silviu Stratulat, Managing Partner, Stratulat Albulescu spoke to Property Forum about the impact of the crisis in Ukraine on the CEE real estate market, but also about the bank financing environment for developments amid rising interest rates. The law firm is planning to boost the logistics segment in its portfolio and expand with a new office in Moldova.

Property developer Skanska has named Anamaria Crețu and Tamara Guleryuz as Leasing & Asset Managers for the Romanian portfolio. The roles contribute to the growth of the business and the improvement of the experience offered to clients and occupiers of buildings.

Bucharest recorded 10 of the 14 major property transactions closed in the first half of 2022, while the overall volume of investment rose by 6% to €323 million compared to the first half of 2021, according to real estate consultancy CBRE. 

Alexandru Pascu, Regional Key Accounts Manager CEE at Atalian, spoke to Property Forum about the impact of ESG policies on the demand structure for facility management services and the growing role of technology in shaping the buildings of the future.

Hagag Development Europe has received the building permit for the consolidation and renovation works on Știrbei Palace located in central Bucharest. The developer will select a general contractor to start the transformation of the historical building in a high-end commercial gallery.

Romanian developer One United Properties has increased its share capital by €51.5 million in a bid to fund new residential investments in Bucharest.

The investment volumes in Romanian residential projects reached 4.6 billion lei (€933.5 million) in the first quarter of 2022, which was up 50% compared to the same period of last year, according to a report by real estate consultancy Colliers.

The property investment market in Romania totalled €518 million in the first half of 2022, up 30.5% compared to the same period of last year, with retail and office sectors driving deals, according to real estate consultancy Crosspoint Real Estate. 

American-owned company Bucharest Properties REIT has started the development of a new block with 55 apartments for rent in the Vitan Estates residential project in Bucharest.