ARTICLES LABELLED WITH TAG Romania

The COVID-19 pandemic did not affect real estate transactions in Romania. During 2020, a total of 602,805 properties were traded, 62,625 more than in 2019, according to the Romanian National Agency for Cadastre and Land Registration (ANCPI). 

Liviu Tudor, the Romanian investor who owns the most office space in Bucharest through Genesis Property, bought a former factory for which he paid €3 million, Ziarul Financiar reports citing market sources.

CTP announced that it had successfully leased a total of 450,000 sqm in Romania in the 2019–2020 period, including to some of the most important players in key industries such as retail, e-commerce and automotive.

A survey prepared by Cushman & Wakefield in partnership with FIHR, targeting Romanian hoteliers, was launched in November 2020 to understand the impact of COVID-19 on the Romanian hotel industry and their perspectives on the outlook of this sector. This survey is the second instalment after a previous questionnaire that was launched in April 2020. The intention is to gain the appropriate attention and appeal to authorities for more meaningful and targeted support towards our hospitality sector. Cushman & Wakefield and FIHR remain committed to ensuring that the industry receives appropriate support by collecting and analysing available data and appealing to authorities.

NEPI Rockcastle is increasing the sustainability targets for the following decade and aims to become carbon neutral by 2030. The Group’s initiative meets the EU’s efforts to combat climate change through carbon neutrality. BuildGreen, advisor in the field of sustainable development in Central and Eastern Europe, will provide NEPI Rockcastle carbon-neutral audit and sustainability strategy, to meet the Group’s target and support the line created within the realms of the Paris Agreement.

Local developer SDC Imobiliare, along with overseas investment funds, has launched what they claim to be the biggest real estate project in Romania. The Transilvania Smart City mixed-use, estimated to require an investment of €700 million, would see the construction of 10,000 apartments, a shopping centre, schools, supermarkets, a hotel and an aparthotel, office space, parks, and conference rooms in Cluj-Napoca. Work on the project is set to start in January 2021.

Building construction markets of the Balkan EECFA countries as a whole have shown resistance during the pandemic so far. Nonetheless, the region is foreseen to have yet another negative year in 2021, before expansion can return in 2022. The EECFA (Eastern European Construction Forecasting Association) has released its Construction Forecast Report for winter 2020.

S Immo AG has purchased two properties of the Campus 6 business park in Bucharest from developer Skanska with a total investment volume of €97 million. The two buildings have a total leasable area of nearly 38,000 square metres and both are fully let. Key tenants are Microsoft and Société Générale.

A new railway line connecting Bucharest’s main railway station Gara de Nord to the Henri Coanda International Airport has been inaugurated over the weekend. Trains depart every 40 minutes with a one-way trip taking about 20 minutes. The price of a one-way ticket is RON 4 (around €0.82).

The final stage of the Cluj Business Campus mixed-use project in Cluj-Napoca has been completed following a €27 million investment. The project comprises over 30,000 sqm of Class A office space and apartments.