Romania Sotheby’s International Realty announced revenue growth of 127% in 2020. Sotheby’s International Realty entered the Romanian market in July 2020 through the association with Artmark Historical Estate, a company founded in 2014 and which belonged to the Artmark group.

Cordia Romania, part of Futureal Group, announced the sale of 20% of the apartments in the second phase of the Parcului20 project in Bucharest.

Internationally expanding Hungarian company Indotek Group is looking at new investment opportunities on the Romanian market. Florin Tirla, Country Head Romania & Bulgaria at Indotek Group talked to Property Forum about the company’s plans and shared his expectations for the future of the office and retail markets.

Point Development, the local subsidiary of the Israeli group Shikun & Binui, has successfully completed the LEED certification process for the second construction stage of its residential-scheme City Point, becoming the sixth project in Europe certified LEED-ND and the third certified as Gold. The whole process was coordinated by Colliers Romania.  

Bucharest Properties REIT, a company with American shareholders, announced the completion of the second stage of the Vitan Estates residential complex, an investment of €10 million. In total, the project amounts to a €20 million investment.

Colliers International Romania launches a new service, with Office 360°, a complete approach of the office, which will allow business managers to shape their future workplace strategy using an innovative online tool created by the company.

Romania-based project management company Optim PM has opened a branch in Belgrade to expand its services on the Southeast European real estate market.

Commercial real estate players in Romania will be inclined to conclude contracts for shorter periods than before the pandemic, as almost 80% of owners, developers and investors in this field consider contractual adjustments and flexibility to be the main attributes that will count for tenants and end-users when the health crisis ends, according to Deloitte Romania Commercial Real Estate Survey 2021.

The Commons co-working space chain announces an increase in requests for office rentals in the centres in Bucharest, both from freelancers and small and medium-sized companies.

The Q4 2020 results of the RICS Global Commercial Property Monitor continue to point to a challenging backdrop across Europe. Both the office and retail sectors remain under significant pressure, with demand still falling sharply amid the difficult economic climate induced by the pandemic. On a brighter note, supported by structural tailwinds, the industrial sector continues to defy this downbeat overall assessment, prompting respondents to upgrade expectations for rental and capital value growth.