Element Industrial, owned by businessman Ionuţ Dumitrescu, announces the start of a new project in Buftea Chitila area, near Bucharest. .

Spanish developer Gran Via Real Estate announces results beyond expectations for 2020 on the Romanian market. Despite two months of lockdown measures due to the pandemic, the company traded 478 residential units, with a total value of €44.2 million. 

Greek developer Reds has authorized its board of directors to take all necessary measures to complete the sale of the 8,000 sqm land to Vastint, at a price of €11,4 million. The land is located on Splaiul Unirii Boulevard, near the Timpuri Noi Square project, developed by Vastint.

Alina Marulis, an entrepreneur from Bucharest, is investing  €10 million euros in a boutique project of 12 villas near Băneasa forest, close to American school.

NEPI Rockcastle is starting the works for the extension of Promenada shopping centre in Bucharest, Ziarul Financiar informs, publishing a photo showing that the land is being prepared for construction.

More than a third (36.5%) of Romanian employees believe that the entire team within the company they are working for will return to the office this year, a recent survey initiated by Genesis Property shows. 

South African developer Fortress REIT is close to entering the Romanian logistics market by acquiring the logistic park in Chitila, owned by Element Industrial and Dedeman, according to Ziarul Financiar, which cites market sources.

The total volume invested in real estate assets in Romania reached €914 million in 2020, a 28% increase compared 2019, according to the Romania Investment Marketbeat launched by Cushman & Wakefield Echinox.

Carrefour Romania renewed its leasing contract with P3 for approximately 85,000 sqm in P3 Bucharest A1, making it one of the largest deals on the local logistics market. CBRE Romania assisted P3 in this deal. 

2020 is expected to be a year of recovery, but many uncertainties remain, like those related to the vaccines’ ability to return everyday life back to normal or to potential jitters about the monetary policy at the major central banks’, which would have deep ramifications globally, Colliers International consultants predict.