Hagag Development Europe has started the construction works for the reconversion of the property it owns in the University area. H Tudor Arghezi 21 is the second office project that the company is developing on the local market, and the investment amounts to over €4 million.  

The valuation department of the real estate consulting company Cushman & Wakefield Echinox evaluated in 2020 over 350 properties with a total value of €4.2 billion, while the research department provided consultancy to developers for the start of new projects with a market value of over €250 million.

Amazon announced that will open three new offices in Romania and add a further 500 new permanent roles by the end of 2021. Amazon plans to open a new office in Timișoara and two new offices in Iași. The company has a total permanent workforce in Romania of more than 2,500.

ANA Hotels, a company owned by businessman George Copos, announced an investment of €25 million in the Athenee Palace Hilton hotel in Bucharest.

AFI Europe Romania is building a small shopping centre in Bucharest, on the land where the company completed the first phase of the AFI City housing project.

In 2020, Globalworth’s Net Operating Income increased by 6.5% to €157.3 million, despite the negative effect (-2.3%) of the COVID-19 pandemic. The company announced its unaudited financial results for 2020.

Nordis Group, a real estate developer specialized in the construction of luxury real estate, announces the launch of a new exclusive complex, consisting of a hotel and residential apartments, located in Brașov.

VGP announces the acquisition of a new land plot in a prime location near Bucharest and the start of the development of its new multi-tenant business park VGP Park Bucharest. Law firm Kinstellar advised VGP Parks on the acquisition.

Prima Development Group announces the completion of the Boemia Apartments project, whose construction started in 2019 in Bucharest. 

The first year of the pandemic brought many lessons for all entrepreneurs and business executives. With plans and expectations upside down, many companies have had to adapt to new realities, regardless of the field. One of the big winners of the crisis was retail park operators that now plan heavy expansion in the coming years. Property Forum takes a look at Romania’s retail park pipeline.