ARTICLES LABELLED WITH TAG Romania

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.

Up to 750,000 sqm of modern logistics and industrial space could be delivered this year in Romania, which could push the local stock of industrial spaces to over 4 million sqm, according to Dunwell, a real estate consultancy firm that specializes on the industrial segment.

The Palace of the Generala Insurance Company, a historical building in the city centre of Bucharest that served as the headquarters for lender BCR, the local subsidiary of Austrian Erste Bank group, has been put up for sale.