Romania is expected to see only moderate growth on the horizon. Serbia, having recorded the biggest expansion of almost 100% in the 2014-2020 period, is foreseen to plateau in the upcoming years, according to the Eastern European Construction Forecasting Association’s 2021 Winter Construction Forecast Report.

Property group Immofinanz says it has sold the former retail project Armonia Center Arad to investment fund Oresa for an undisclosed sum. The buyer plans to develop a mixed-use scheme with industrial and retail components.

Property developer Alesonor says it has obtained the construction permit for the first villas of Amber Forest complex it will develop in the suburbs of Bucharest. 

Property developer Scallier says it has secured a building permit for a new retail park located in Turda. The project will have a leasable area of 9,000 sqm and has already attracted a mix of retailers.

BIG Shopping Centers, Israel’s leading shopping center development group, announced the sealing of the first deal for the group’s energy branch. BIG Energia Holdings Kft., BIG Group’s wholly owned subsidiary, engaged in the agreement to acquire all the shares of a Romanian company which holds the rights for the wind turbines erection project in the Braila district of Romania. The project is planned to incorporate seventeen turbines, each of 6-Megawatt capacity, estimated to produce 102 MW in total.

Office building Euro Tower, developed by Cascade Group in central Bucharest, has obtained the first LEED ZERO CARBON certification in Romania. 

Globalworth has announced a raft of changes in the board and appointed several non-executive directors with immediate effect.

Property developer Redport Capital and furniture retailer Mobexpert have jointly purchased a land plot of 44,000 sqm in northern Bucharest in a bid to support new residential investments. 

Property developer and investor PPF Real Estate has invested close to €1 million in redesigning the ground floor of Metropolis Center, the office building that it owns in central Bucharest. 

Iulius Mall, part of mixed-use project Iulius Town Timișoara, was awarded the LEED GOLD certification by the US Green Building Council as part of the developer’s efforts to line up its portfolio to international sustainability standards.