CTP continues its accelerated growth by acquiring Chitila Logistic Park, near Buchares, Romania. The transaction was concluded in September and the value of the investment reaches €17.3 million. CLP has been purchased from UBM Development. This acquisition is part of CTP’s strategy of reaching a total leasable area of approximately 1 million sqm in Romania by the end of 2018.
Atenor, through its Romanian subsidiary, will complete before end of the year, the purchase of a new site in Bucharest. The site of approx. 11,600 sqm located in the northwestern part of the city in the Expozitiei/Piata Presei Libere area will allow Atenor to develop a new office project of approx. 44,000 sqm.
Central and Eastern European cities have further increased their presence at the largest property event in Europe. Investment markets are booming and this is clearly visible when looking around the stands of Hungarian, Polish, Czech and Romanian cities. Our takeaway from CEE themed panel discussions at Expo Real.
Romanian developer Forte Partners has acquired a 1,700 sqm plot in the city centre of Bucharest for office development. The plot, sold by Telekom Romania, is located next to Palatul Telefoanelor and the Novotel hotel. It allows the development of up to 9000 sqm of office space.
CTPark Bucharest West currently has 100,000 sqm of new space under construction. The company has big plans to extend the park, having recently purchased more land to allow for a total built-up of more than 700,000 sqm, potentially making CTPark Bucharest West the largest industrial park in Central Europe. The total investment for CTPark Bucharest West alone will exceed €150 million by Q1 of 2018.
Construction works on the new Radisson Blue Hotel in Brasov are soon to start and are scheduled to be completed by 2019. The five-star hotel will have 110 rooms, zf.ro reports.
A new residential complex, comprising 1,000 apartments in four phases, is being built in the Domenii area of Bucharest, requiring a total investment volume of €80 million. The developer of the scheme is DVD Residential Imobiliare, owned by businessmen Dan Sucu (owner of Mobexpert Group) and Valentin Visoiu (owner of Conarg Group).
JLL Romania will provide technical consulting services for the construction of Groupe Renault's future headquarters in Romania, the largest office building currently under construction in Bucharest.
The construction works on the new business park in Craiova are ongoing and the first 10,000 sqm of industrial space will be delivered by the end of the year, Romanian real estate developer Zacaria announced. Southern Industrial Park will comprise 43,000 sqm of Class A industrial space, fully equipped for activities such as storage, logistics, cross-docking or manufacturing.
The Romanian market has attracted strong interest from international investors in recent years. Solid economic growth, improving perception and the availability of quality investment products have all contributed to the €400 million transaction volume registered in 2017. Andrei Văcaru, Associate Director of Capital Markets at JLL Romania explained Property Forum why Romania is on the right track.
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.
Property Forum is a leading event hub in the CEE real estate industry with nearly 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Budapest, Bucharest, Bratislava and Prague, amongst other locations.
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