Investment transactions on the Romanian real estate market could exceed the €1 billion threshold this year, considering the projects in various stages of negotiation, according to Colliers. At present, there are several transactions in the pipeline worth at least €100 million each, and others are ready to go on the market
Financial companies were the most active in the Bucharest office lease market during 2021, according to a report by real estate consultancy Cushman & Wakefield Echinox.
Romanian developer Eden Capital Development, which focuses on the Bucharest residential market, recorded total sales of over €90 million during 2021, at an average transaction of over €120,000 for an apartment.
Real estate consultancy RE/MAX Romania brokered property deals worth more than €300 million in 2021 and almost doubled its commission income to €10.5 million.
Art Property, the developer of the €20 million Art City residential complex in Bucharest, is looking to expand its presence in the property management field and appointed a new management team to implement the operational plans.
International retailer Primark has announced the opening of its first store in Romania as part of an expansion bid in Central and Eastern Europe. The new store will start operations towards the end of this year and will be located in Bucharest-based ParkLake Shopping Centre, owned by Sonae Sierra.
CTP’s portfolio of industrial and logistics spaces in Romania reached 2.1 million sqm in January 2022, with representatives of the company suggesting that the country can become a logistics hub for the region.
Elegance Decor, the home & deco company, has leased 400 sqm in Bucharest-based Equilibrium 1 for its new office. The building has a total leasable area of 20,700 sqm and was developed by Skanska.
Majorel Polska, an international outsourcing services provider has extendied a lease agreement for the next 2 years and leased additional 400 meters for a new project - IT Hub in recently modernised Globis Poznań by GTC. It now occupies 3 200 sqm of A-class workspace. CBRE has advised Majorel Polska on concluding the lease contract.
NEPI Rockcastle Poland has extended its office lease agreement and enlarged its premises in the Cosmopolitan Twarda 4 building in Warsaw city centre. The shopping centre owner and operator now occupies 1,500 sqm of offices in the building.
New appointments
AXI IMMO decided to develop and expand its operational activity with an offer of complex services in property valuation. Grzegorz Chmielak was appointed as the Head of the new service line, and he will also manage the Capital Markets Department.
Tamás Kiss has joined Hungarian asset management company Diófa Alapkezelő Zt. and has been appointed deputy CEO. Previously he worked for several brokerage firms as a director of asset management and director of investment or compliance unit.
Tomasz Pietrzak, with MLP Group for more than five years, has been promoted to the position of Leasing Director Poland. Until recently responsible for the commercialisation of warehouse space in the Warsaw region, now he will manage leases across Poland.
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