ARTICLES LABELLED WITH TAG Romania

A survey prepared by Cushman & Wakefield in partnership with FIHR, targeting Romanian hoteliers, was launched in November 2020 to understand the impact of COVID-19 on the Romanian hotel industry and their perspectives on the outlook of this sector. This survey is the second instalment after a previous questionnaire that was launched in April 2020. The intention is to gain the appropriate attention and appeal to authorities for more meaningful and targeted support towards our hospitality sector. Cushman & Wakefield and FIHR remain committed to ensuring that the industry receives appropriate support by collecting and analysing available data and appealing to authorities.

NEPI Rockcastle is increasing the sustainability targets for the following decade and aims to become carbon neutral by 2030. The Group’s initiative meets the EU’s efforts to combat climate change through carbon neutrality. BuildGreen, advisor in the field of sustainable development in Central and Eastern Europe, will provide NEPI Rockcastle carbon-neutral audit and sustainability strategy, to meet the Group’s target and support the line created within the realms of the Paris Agreement.

Local developer SDC Imobiliare, along with overseas investment funds, has launched what they claim to be the biggest real estate project in Romania. The Transilvania Smart City mixed-use, estimated to require an investment of €700 million, would see the construction of 10,000 apartments, a shopping centre, schools, supermarkets, a hotel and an aparthotel, office space, parks, and conference rooms in Cluj-Napoca. Work on the project is set to start in January 2021.

Building construction markets of the Balkan EECFA countries as a whole have shown resistance during the pandemic so far. Nonetheless, the region is foreseen to have yet another negative year in 2021, before expansion can return in 2022. The EECFA (Eastern European Construction Forecasting Association) has released its Construction Forecast Report for winter 2020.

S Immo AG has purchased two properties of the Campus 6 business park in Bucharest from developer Skanska with a total investment volume of €97 million. The two buildings have a total leasable area of nearly 38,000 square metres and both are fully let. Key tenants are Microsoft and Société Générale.

A new railway line connecting Bucharest’s main railway station Gara de Nord to the Henri Coanda International Airport has been inaugurated over the weekend. Trains depart every 40 minutes with a one-way trip taking about 20 minutes. The price of a one-way ticket is RON 4 (around €0.82).

The final stage of the Cluj Business Campus mixed-use project in Cluj-Napoca has been completed following a €27 million investment. The project comprises over 30,000 sqm of Class A office space and apartments.

Real estate developer Hagag Development Europe started construction works for its residential project H Eliade 9 Residence. The development budget amounts €16 million. 40% of the available units have been already sold in the pre-construction phase.

The Neo Mamaia residential complex developed by One United Properties at the seaside will benefit from an extension that will allow the construction of new boutique apartments. The real estate developer has announced the acquisition of five plots of land in the immediate proximity of the first Neo Mamaia compound, thus extending the complex frontal opening to the sea up to over 250 meters.

French real estate group Catinvest has opened the first Class A office building in Craiova, Romania. The new offices of Electroputere Parc are part of the mixed-use building covering 12,300 sqm that has been completed this year and another similar building with 12,700 sqm is set to be completed in Q2 2021. The total investment cost amounts to €39 million.