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.

The developers of logistics and industrial spaces maintained their investment plans and delivered 600,000 sqm of new warehouses last year, according to JLL Romania data. Most of them were delivered in Bucharest and the surrounding area, with 80% of the total.

Cushman & Wakefield Echinox has been appointed to manage Floreasca Park office project located in the Floreasca - Barbu Văcărescu area in the north of Bucharest, the largest business hub in the Capital.

Opus Land continues to invest in Cosmopolis, a residential project near Bucharest, where construction work was started in 2007. €22 million will be allocated for the construction of 500 new homes and €7 million are for increasing the commercial area of the strip mall, SVN Romania, the exclusive agent of the project, announced.

Macromex, the leader in the temperature-controlled products segment, is building its second warehouse in Chitila, near Bucharest. The investment amounts to €15 million and will be financed from own sources, but also from a loan from Alpha Bank Romania, the company announced.