ARTICLES LABELLED WITH TAG Romania

Romanian developer One United Properties recorded a record turnover of RON 627.7 million (€126.8 million) in the first nine months of the year, up 87% year-on-year, while the gross profit gained 186% y/y to RON 293.3 million (€48.3 million) on higher residential sales and increased occupancy rates in offices.

CTP, the biggest owner of industrial and logistics spaces in Romania, says it has signed a lease deal with beverage maker Tuborg Romania. 

Property developer Prime Kapital says it has finished the demolition phase on a former industrial platform in Iași where it will kick off the construction of Silk District, a mixed-use scheme. 

IWG, the operator of flexible and co-working spaces, says it has signed the first franchise partner in Romania. 

Venus Crown Residence Estate will develop the first DoubleTree by Hilton hotel in Brașov following the signing of a management agreement with Hilton. The hotel with 150+ guestrooms is expected to open in the summer of 2023 following an investment of €21 million. 

French real estate group Catinvest will add 5,500 sqm retail space, 1,200 sqm for a shared open-air terrace for the food court and a new playground of 500 sqm in Electroputere Mall, located in Craiova. 

Fortim Trusted Advisors, the property consultancy member in the BNP Paribas Real Estate Alliance in Romania, says it will record a turnover of RON 5 million (around €1 million) this year, while next year’s growth expectations are set at 30% year-on-year.

More businesses have discovered that remote work arrangements support growth, but the future of work will include both office-based and remote work, driven by the nature of tasks, suggested speakers during the workplace strategies panel of SEE Property Forum 2021, Property Forum's annual event in Bucharest.

George Becali, one of the wealthiest Romanians active in the property sector, has taken over Inter Hotel from Interagro, an agriculture group that is under administration. 

New offices totaling 132,200 sqm were delivered on the Bucharest market during the third quarter, making it the best ever in terms of supply, while 9-months deliveries reached 178,000 sqm, according to real estate consultancy Cushman & Wakefield Echinox.