ARTICLES LABELLED WITH TAG Romania

Real estate developer Hagag Development Europe continues its investments in Bucharest by adding a new office property to its local portfolio: Tudor Arghezi 21. The transaction value exceeds €9 million. 

According to the latest RICS Commercial Property Monitor, occupier and investment sentiment remains positive across main CEE markets, even though the Czech Republic has posted its most subdued set of readings in four years. In many countries, demand for retail assets fell on both the occupier and investment sides of the market. Based on rental and capital value projections, secondary retail is visibly suffering in Austria, Bulgaria, Poland and Romania.

CBRE was assigned to provide property management services for the projects developed by the company One United Properties in the north of Bucharest, namely the office building One Tower and the residential complex One Mircea Eliade, which comprise a total area of 24,000 square meters offices and 247 high-end apartments. The portfolio managed by CBRE now exceeds 800,000 square meters.

Globalworth has inaugurated the most advanced lobby in the region, with a number of innovations and technological premieres that include the world's largest kinetic floor in an office building, the longest screen wall in CEE, the largest natural green wall in an office building SEE, a space to relax with heated marble steps, Schindler projectors and Pepper, Globalworth's first robot employee. According to the developer, the Globalworth Tower building, which welcomes some 30,000 visitors daily, has become a benchmark for office space innovation and sustainability.

Dunwell Industrial Brokerage has assisted MLP Group in opening a new, 2,500 sqm location in Bucharest for one of the largest banana importers and distributors in Europe, Citronex.

In the past five years, Colliers International has performed valuation for a total of over 500,000 commercial and residential properties worth €40 billion in Romania. The most complex and comprehensive appraising process in Colliers International’s portfolio was for BCR Palace on University Square in Bucharest.

Global commercial real estate leaders are optimistic about the industry’s prospects over the coming year, despite global economic volatility, according to Deloitte 2020 Commercial Real Estate Outlook. 76 percent of respondents expect a positive evolution of the industry in the next period. The survey shows that the tenant experience has become a top priority for most commercial real estate leaders, with a focus on investment in new technologies.

Aroundtown has acquired an 11.8 percent stake in Globalworth. Aroundtown is a real estate company with a focus on properties with added value potential in central locations in top tier cities, primarily in Germany and the Netherlands.

The opening of the Moxy Bucharest Old Town hotel in the historical centre of the capital is planned to take place by the end of 2019.

Skanska is in talks with Israeli group Shikun & Binui and another unidentified potential buyer to sell its Campus 6.2 and Campus 6.3 office buildings that are still under construction in western Bucharest, economica.net reported. The value of this deal is estimated at around €100 million.