ARTICLES LABELLED WITH TAG Romania

Element Industrial announced the development of a 60,000 sqm logistics park in the Romanian city of Craiova. The company will build the €35 million industrial project on an 11-hectare plot of land, near the south ring road of the city, with direct access to the E70 road. The developer plans to deliver ELI PARK Craiova in three phases.

Romania is the fifth most attractive manufacturing market in Europe and was ranked 12th globally, according to the Manufacturing Risk Index 2019 study, conducted by the Cushman & Wakefield.

According to the RICS Commercial Property Monitor, Hungary has the strongest occupier sentiment and the Czech Republic has the strongest investment sentiment among the 40 countries surveyed in Q1 2019. Market expectations remained fairly positive across Central and Eastern Europe in the first quarter of the year, with the share of those stating that we have reached the peak of current property cycle decreasing compared to previous quarters.

In order to finance its further growth, Globalworth successfully completed a capital increase of €500.5 million. The EBRD invested a further €25 million to support the company’s planned growth. The Bank became a shareholder in Globalworth in December 2017 and currently holds a 5.8 per cent stake in the company.

CTP will develop a new logistics park in Sibiu on an area of 9 hectares with an investment of €23 million.

Lidl has opened its first logistics centre in the eastern part of Romania, in the town of Roman, Neamt county.

PropTech Romania which is the first Romanian innovation platform designed for the real estate market, hosted the first European real estate hackathon in Bucharest on 12 and 13 April 2019.

Dedeman has signed a contract for the purchase of The Office in Cluj-Napoca. The sellers are developers NEPI Rockcastle and Ovidiu Sandor. The purchase price has not been disclosed, but it is estimated to be around €100 million.

CTP continues its expansion in Romania. The developer plans to add another 200,000 sqm to its 1 million sqm local portfolio.

The Bucharest office closed Q1 2019 with decent numbers: a gross take-up of 105,000 sqm, out of which the net take-up was 29,000 sqm, and 93,000 sqm of deliveries. Data from Colliers International Romania show that the demand came mostly from IT&C companies, despite the tight labour market.