ARTICLES LABELLED WITH TAG Romania

Danish facility management company ISS plans to divest its operations in thirteen countries worldwide, including the Czech Republic, Hungary, Slovakia, Slovenia and Romania.

December is a time for Romania to score positive results for sales at supermarkets, hypermarkets or discounters as well as for gifts, offering generous returns for retailers in shopping centres and preferring apparel rather than electronic goods relative to other Europeans. The season’s celebrations are a recurring highlight each year for the office segment as well, as both landlords and tenants invest in promoting the holiday spirit.

Market sentiment remains positive across Central and Eastern Europe, according to the RICS Commercial Property Monitor. Strong demand from tenants and investors persists in almost all market segments but the number of signs that some markets have reached their peak continues to grow.

Developer Nova Imobiliare has started the construction works for Colosseum Mall as part of the expansion plan for its Colosseum shopping centre. The construction of the mall will be carried out by Axa Trans Construct, designated as the general contractor following a selection process.

Belgian real estate developer Speedwell is investing €40 million in a mixed-use project in the Romanian city of Cluj-Napoca.

Portuguese group Sonae Sierra announced that it purchased the 50% stake held by its former Joint Venture partner Caelum Development in Bucharest’s ParkLake shopping centre with the intention of consolidating its presence in Romania.

MAS Real Estate, through a subsidiary, has acquired the Atrium Mall Shopping Centre in Arad, Romania from Cosmovia Holdings Limited, a member of the Demján Group based in Hungary.

P3 Logistic Parks has acquired a 16-hectare site in Dragomiresti Vale, a prime logistic location on the north-west outskirts of Bucharest. A new 80,000 sqm logistics park – to be known as P3 Bucharest NW Ring Road – is to be developed on the site, which has direct access to the newly extended Bucharest Ring Road and provides easy access to all parts of the Romanian capital, as well as the A1 and A3 highways.

After an investment of €40 million, NEPI Rockcastle opened Shopping City Satu Mare, which hosts 85 stores, including the first Carrefour hypermarket in the city.

Deals of over €4 billion have been signed during the last five years on the Romanian real estate market, with the most active buyers being investors from South Africa, with a market share of 28%, followed by Greek investors (14%), French (10%) and Romanians (7%), according to an analysis by Cushman & Wakefield Echinox.