ARTICLES LABELLED WITH TAG Romania

The Romanian Chamber of Commerce and Industry (CCIR) and real estate developer Iulius are proposing a large-scale mixed-use project around the existing Romexpo Exhibition Center in Bucharest. The €2.87 billion investment plan would the see creation of the city’s largest business district with over 30,000 new jobs, museums and a multi-use event hall, a new park and green urban connections, a retail and lifestyle centre and 12,000 parking spaces.

JLL has advised Rosti Romania, owned by the Swedish company Rosti Group AB, in the lease of 11,300 sqm industrial spaces in Paulesti, near Ploiesti, developed and rented out by WDP. The construction of the new production facility, announced by Rosti at the end of last year, has already started and the delivery date is set for 2021.

Real estate developer Hagag Development Europe and Global Vision signed a collaboration agreement for the property management services of Hagag’s office building H Victoriei 109. Thus, Global Vision takes over the administration of the property located on Calea Victoriei.

Belgian developer Atenor has obtained a building permit for its Up-Site Bucharest project which will consist of 270 residential units in two glass towers of 12 and 24 floors. Upon completion, these two towers will be the tallest residential buildings in the Romanian capital.

Nine shopping centre owners in Romania, together with CBRE, have urged the Romanian Government to reopen large shopping centres as soon as possible.

The stock of industrial and logistics space in Bucharest has doubled between 2015 and 2020 with the capital of Romania being the most dynamic market in the Central and Eastern European region and a logistic regional hub throughout the analyzed period, according to Cushman & Wakefield Echinox.

The first quarter of the year 2020, mostly starting with mid-February, was marked by ominous economic forecasts. Thus, some decline in construction activity was to be expected, and indeed newly started construction projects dropped to just over €1.3 billion in Q1 2020. This amounts to a 14% decrease compared to the equivalent period of 2019, according to the latest edition of the EBI Construction Activity Report for Romania.

Developer NEPI Rockcastle completed the construction of the 39,800 sqm Shopping City Targu Mures project in Romania in Q1 2020. The opening was, however, rescheduled from the end of March to Q3 2020. The company is not launching new constructions until there is further clarity on the impact of COVID-19 on its operations.

Real estate developer Hagag Development Europe has completed the structure of the first three buildings related to the first phase of the large-scale residential project H Pipera Lake. Construction works for buildings 4 and 5 reached the ground floor. Out of the total number of apartments available in the first three buildings, 60% have already been sold

Local real estate developer Rock Development, controlled by a subsidiary of UniCredit Group, has launched the construction of the Avrig Park Residence residential project in Bucharest’s Bucur Obor area.