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. 

Sales of homes on the Romanian market totaled 85,000 units in the first half of 2022, up 3.4% compared to the same period of last year, according to real estate consultancy SVN Romania. In the same interval, sales in Bucharest and Ilfov county rose by 16.6%. 

Leasing volumes in the Romanian industrial and logistics market rose by 50% to 542,000 sqm compared to the same period of last year, with more than half of the activity being generated around Bucharest.

Romanian developer One United Properties has purchased a land plot of 36,869 sqm in northern Bucharest in a deal worth around €60 million. The company plans to develop a new residential complex with around 900 apartments.