ARTICLES LABELLED WITH TAG Romania

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.

Industrial developer CTP Romania has appointed Răzvan Danciu as Head of Property Management for its portfolio comprising 2.1 million sqm. 

Property group Prime Kapital has secured a green club loan of €125 million for its development joint-venture with listed property investor MAS plc. 

Globalworth’s net profit in 2021 significantly improved to €47.5 million (2020: net loss of €46.8 million) while it recorded its best year in office leasing with 214,500 sqm of spaces taken up or extended. The company has released its annual report and audited consolidated financial results for 2021.

Austrian property investor Immofinanz has opened its first coworking space in Bucharest, under the mycowork brand, the flexible office component of myhive. 

Romanian Global Investment Group has started the development of a new residential project in Bucharest that will feature 240 apartments following an investment of €40 million.  

Romanian DIY chain Dedeman has purchased a land plot of 14.5 ha in Timișoara from Țiriac Imobiliare for an undisclosed sum. The buyer is exploring several investment scenarios for the new land that is located next to the future Ikea store.

Romanian One United Properties has purchased a building that used to house a production plant of Ford in Bucharest from Auchan Romania.

The centre-west area of Bucharest has become a main office hub, with a total stock of 614,600 sqm estimated for 2022. This year, the area near Politehnica University will surpass the existing stock from Floreasca-Barbu Văcărescu, which has been the main office hub in Bucharest during the past eight years, according to data from real estate consultancy Cushman & Wakefield Echinox.