Property developer Zacaria says it will start residential investments in three Romanian cities after it partially sold its local industrial portfolio to CTP.

Residential developer Apx Immo has taken over a land plot of 830 sqm in Cotroceni area from ICD Real Estate for €1.3 million. 

Property consultancy Crosspoint Real Estate has announced the appointment of Bogdan Gubanduru as Head of Investment.  

Retailers and residential developers are driving demand in the land market and the volume of transactions is hampered by uncertainties regarding urban development legislation. 

Romanian Niro Investment Group, specialized in investments and real estate asset management, has announced the appointment of Christophe Chamboncel as Head of Hospitality & Development. 

CTP says it has taken over around 112,000 sqm of industrial space from Zacaria Industrial, representing parks in four cities, for an undisclosed sum. Following the acquisition, CTP has started operations in Craiova and expanded its presence in Sibiu, Arad and Oradea and its local portfolio has edged close to 2 million sqm.

Romanian developer One United Properties will distribute 32.5 million lei (around €6.5 million) in cash dividends, while its share capital will be increased by up to 288.8 million lei (€58.4 million), according to a voted of shareholders. 

Romanian developer Element Industrial will invest over €25 million in the development of ELI Park Brăila, a new logistics park that will have a gross leasable area of 50,000 sqm. 

The industrial and logistics market in Romania continues to grow in terms of leasing activity and supply of new projects, with some 800,000 sqm in new stock under development at present.  

Property developer Vastint is looking to secure permits to kick off the construction of the second phase of its mixed-use project Timpuri Noi Square (TNS) located in Bucharest.