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.  

Transport and logistics operator SLS Cargo has leased another 11,412 sqm in P3 Bucharest A1 logistics park and will occupy more than 30,000 sqm in the project following the latest lease transaction brokered by JLL Romania.

Sorin Preda, CEO, Global Vision, spoke to Property Forum about the industrial projects they are currently developing nationwide and the potential of the Constanța region to become a production hub for companies around the world. Together with Globalworth, Global Vision has €500 million of secured investment capital and is counting on a growing demand for industrial space in the coming years.

Property company Lion’s Head has appointed Alina Necula as Country Manager for Romania, tasked with managing operations and handling the expansion strategy. 

Strabag will build the first residential building of Speedwell’s mixed-use scheme Paltim in Timișoara and the company has been selected as the general contractor of the project. 

Square 7 Properties has started the construction of a new retail park in Giurgiu, with a gross lettable area of 7,000 sqm. 

Hungarian Crown Holding Kft. has purchased Cascade Office Building in central Bucharest for €10.1 million.  

Following the majority takeover of Immofinanz by CPI Property Group (CPIPG), resulting in the shareholding of app. 77%, Immofinanz announced an update strategy, including close cooperation with CPIPG and the related synergy effects. CPIPG and Immofinanz now agreed that CPIPG will provide asset management services to local Immofinanz companies.

Emma Toma, Head of the Office Leasing Division at AFI Europe Romania, spoke to Property Forum about the developer’s expansion plans in the residential segment and the trend of rising rents in Class A office buildings.

The amount of property investments in Romania totaled €336 million in the first half of 2022, up around 13% year-on-year, while solid pipeline of transactions is under negotiation and could be completed by the end of the year, according to a report of real estate consultancy CBRE.