ARTICLES LABELLED WITH TAG Romania

The Dutch investors that own the Eurocooling logistics centre in eastern Bucharest have applied for approval of a zoning plan for the development of a residential project, economica.net reports. The owners plan to build a residential complex with approximately 1,200 apartments.

Retail outlet developer Fashion House Group plans to open its second outlet centre in Romania, Fashion House Pallady, on 25 March 2021.

Grand Plaza Hotel, the company that owns the Sheraton Bucharest Hotel in the centre of the Romanian capital, plans to add around 100 rooms to the 270 existing ones by building a new section, economica.net reports. The cost of the project is estimated at €5 million.

Expo Market Doraly, one of Romania’s largest shopping parks specialized in home items and food products, has inaugurated a new building with an area of 9,200 sqm, following a €6 million investment.

Austrian retail investor Supernova has acquired the Jupiter City shopping centre in the Romanian city of Pitești from local company Mall Retail Rom, owned by Israeli concern Jupiter Group. The value of the transaction hasn't been disclosed, but the transaction was said to be "distressed" with a price estimated to be below €20 million.

The Tei Group, which includes the Farmacia Tei network of pharmacies and Bebe Tei stores, leased approximately 10,000 sqm in the Metav industrial park in northern Bucharest, to build a semi-automatic warehouse, a transaction intermediated by Cushman & Wakefield Echinox.

VGP announces the start of development of its new multitenant business park in Brașov, Central Romania. With the groundworks started beginning of November, the first building with a surface of 9,400 sqm is planned to be delivered mid-2021 and will be partly occupied by pharmaceutical company Fildas Trading Srl. VGP Park Brașov is being developed on a land plot of approx. 390,000 sqm and will have a total potential of about 180,000 sqm lettable area.

CTP has acquired 95,000 sqm of buildings from Australian company Cromwell Property Group, representing the largest transaction on the Romanian logistics market in 2020.  With this acquisition, the company expands CTPark Bucharest, thus reaching over 500,000 sqm of rentable space, occupied by over 100 customers. This acquisition aligns with CTP's strategy to create business communities and parks with complex infrastructure, thus supporting residents' businesses.

Fashion outlet developer, Fashion House Group has announced the opening of the third phase of Fashion House Outlet Centre Militari in Bucharest.

The Romanian logistics market will have a record demand by the end of 2020, with a transactional volume exceeding the 700,000 square meters threshold, amid the accelerated development of e-commerce and the positioning of Bucharest as a regional logistics hub for a series of international retailers, according to Cushman & Wakefield Echinox.