Real estate investment company S Immo AG has purchased the Expo Business Park office project in Bucharest from Portland Trust for an undisclosed sum. 

Romanian developer Nordis Group says it will deliver this year up to 1,000 hotel rooms and residential units in its project located in the Mamaia seaside resort. 

Avalant has become JLL's exclusive partner for the office and investment property market in Bulgaria. JLL carried out a tender process, in which several local consultancy companies were invited and Avalant emerged as the selected partner. The collaboration will be made directly with colleagues from JLL Romania.

Romanian developer Forte Partners says that all its office projects in Bucharest are powered solely by renewable energy as part of its sustainability strategy.

More than 72,000 homes were delivered across Romania during 2021, which has been a record for the past 32 years, according to real estate consultancy Cushman & Wakefield Echinox. 

Stamatis Sapkas will be the new group CFO of Globalworth starting May 1, replacing Andreas Papadopoulos, who will leave the company after eight years. 

Romania’s trade relations with Ukraine, Russia and Belarus are limited, but the country has been importing raw materials from these countries that are used in the local construction market, according to an analysis by the Eastern European Construction Forecasting Association (EECFA). 

Property developer Speedwell has received the building permit for Phase 1 of the Paltim project that will feature 123 apartments out of 236 planned units, with construction works set to start soon. 

Investment activity in Romania’s property market totaled €98.6 million in the first quarter of this year, up 75% compared to the same period of last year, according to a report by real estate consultancy Crosspoint Real Estate.

Romanian developer Element Industrial has inaugurated the first phase of ELI Park 3 industrial project in Buftea-Chitila area, near Bucharest.