eMAG, Romania’s largest online retailer announced that it is investing €65 million (RON 300 million) in a 120,000 sqm warehouse which will be built in Giurgiu County, the largest of its kind in Southeastern Europe. The warehouse is due for completion in 2019, zf.ro reports.
Chapman Taylor reported that construction on Expo Business Park in Bucharest is underway. The 70,586 sqm development comprises three separate and self-contained office buildings set over a shared two-level basement parking structure.
Ikea has started the construction of its second store in Romania, which will be finished in H2 2018 following an investment of approximately €86 million, which includes the acquisition of the land.
Globalworth confirmed that is plans to raise approximately €300 million through a non‐pre-emptive placing of new ordinary shares. The funds would be used for new purchases in Poland (two office buildings) and Romania (three office building) with a total value of €410 million. The company also published its latest development plans.
Real estate developer London Partners is to invest €26 million in SoHo Unirii residential project in Central Bucharest, which will have a total of 236 apartments. Construction works started this summer and completion is scheduled for Q1 2019.
AFI Europe Romania has signed the first lease agreement for AFI Tech Park, the company’s newest business park developed in Bucharest. World Class Romania, a leader on the Romanian health & fitness field, will be the first tenant of the campus, by leasing 1,500 sqm GLA spread on the ground floor and the first floor of AFI Tech Park 1. The lease contract was signed for a period of 10 years.
One United Properties, a real estate developer specialised in Bucharest residential property, will issue €20 million worth of 4-year bonds through private placement, fully funded by co-management by Credit Value Investments in Poland. The money will be spent on the company existing and new residential developments.
AFI Europe Romania published its financial results. The Net Operating Income (NOI) from its income producing assets in Romania was over €37 million in the first nine months of the year, representing respectively 10.4% higher results compared to the same period in 2016. The value of the existing income producing assets AFI Cotroceni, AFI Ploiesti and the 5 office buildings of AFI Park increased by 7.5% to €735 million according to the valuation performed as of September 30, 2017.
The Openville Timişoara development, the largest mixed-use project in the west of Romania will be opened in the fourth quarter of next year, upon completion of the first phase of development. The project that integrates the current Iulius Mall Timişoara will comprise office, retail, park and entertainment uses, and is developed by the IULIUS and Atterbury Europe companies.
Document State Enterprise, based in Kiev, has opened a branch in Poland. The administrative unit, directly cooperating with the Ukrainian government, began its operations in a 600 sq m office in Blue Office in Warsaw.
Medicover will open its seventh Kraków medical centre in the Brain Park office complex. The centre will occupy more than 1,500 sqm of space at its new address in an investment being developed by Echo Investment.
PM Group, the manufacturer and distributor of technical products and accessories for heat-insulating carpentry, has leased 2,200 sqm for a new distribution centre in ELI Park 3. The project part of the ELI Park Bucharest North West hub is developed by Element Industrial.
New appointments
Karol Milczarski has joined the ranks of Colliers Poland experts, taking up the position of Senior Associate in the Commercial Space Department. His main task is to comprehensively support clients in the process of acquiring attractive street locations not only on high streets, but also within densely populated residential districts.
Danubius Hotels has appointed Andrea Róna as Group Director of Development. She has decades of experience in hotel management and development as well as asset management. The expert will be responsible for the further expansion and development of the hotel chain.
Cushman & Wakefield promotes Petr Markvart, Head of Landlord Representation Services in the Office Agency team, to Partner.
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