ARTICLES LABELLED WITH TAG Romania

Erste Bank Group anticipates an economic slowdown for 2020 in most CEE countries due to the coronavirus situation. The bank’s report mentions a negative scenario as well, which would result in a massive recession in the region.

Cushman & Wakefield Echinox has been commissioned to manage Mendeleev Office 5, an office building recently delivered in downtown Bucharest, by Akcent Development.

One United Properties announced that it is helping the medical system in fighting COVID-19 by donating €100.000.

Globalworth announced changes to the Company's Board of Directors and an update regarding the COVID-19 outbreak. Ioannis Papalekas, the Founder, is stepping down from the Board of Directors of Globalworth but will remain as CEO. Dimitris Raptis, the current Chief Investment Officer and Deputy CEO, has been appointed co-CEO.

A new peak in total transaction volumes of €13.9 billion was reached last year across the CEE region. Including Austria and Serbia, the volume is even greater: €20.19 billion, according to CBRE’s latest research.

CTP plans to develop a new logistics park in Stefanestii de Jos near Bucharest, on a 19 ha plot of about 19 hectares that it acquired last year from Willbrook for €6 million, profit.ro reports. Construction is set to begin this spring.

Sapient Vest, a company controlled by Slovakia’s Slovunit AS, is planning to develop a logistics park in Timișoara. Sagului Logistic Center will spread over 400,000 sqm on Calea Sagului, economica.net reports.

Due to the uncertainty surrounding the coronavirus situation Property Forum has decided to reschedule its spring events – Bratislava Property Forum, SEE Property Forum and Prague Property Forum – to autumn 2020.

Kinstellar has successfully advised its client, Ideal Projects (a joint venture between the Vetimex and Mirus groups) on the successful negotiation, signing, closing and refinancing of the Cluj-based Vivido, Advancity, and Cube office projects. This is the largest office acquisition outside Bucharest in Romania this year, with a total value exceeding €30 million.

Revetas Capital Advisors and Cerberus Capital Management have put the Landmark office building in central Bucharest up for sale.