ARTICLES LABELLED WITH TAG Romania

As a response to continued strong demand from tenants in Budapest and Bucharest, Skanska plans to launch several new projects in both capital cities. Marcin Łapiński, Managing Director for Hungary and Romania talked to Property Forum about the differences between the two markets.

Forte Partners have inaugurated the first phase of The Bridge office project located in the Grozavesti-Basarab area in Bucharest. The first building offers 36,871 sqm of leasable space. Its tenants include IBM and BCR. The first phase of the project was financed by UniCredit Bank. Bog’Art was the main construction contractor.

NEPI Rockcastle inaugurated Shopping City Ramnicu Valcea, following an investment of €40 million. With a leasable area of 27,900 sqm, Shopping City Ramnicu Valcea offers 14,000 sqm of fashion brands, a hypermarket and services area of 10,000 sqm and 3,000 sqm of restaurants and entertainment area.

Globalworth announced the successful completion of the non-pre-emptive placing of new ordinary shares. A total of 38.9 million new ordinary shares in the company have been placed by Jefferies International Limited at a price of €8.75 per placing share, raising total gross proceeds of €340 million, in excess of the company's target and oversubscribed at this level.

2017 has not ended yet, but it is safe to say that it has been a record year for the CEE property market. The period of strong growth is not over yet, market sentiment is positive and all signs point to 2018 bringing new opportunities for expansion in the property business. In times like these it is especially important to find the time to share knowledge and make new connections, which is why Property Forum will continue to provide a meeting point for the CEE property industry. In 2018 Property Forum events will be held in Bratislava, Bucharest, Prague, Vienna and – for the first time – in Warsaw.

British group Kingfisher PLC, a European DIY chain present in Romania through the Brico Depot brand, acquired Praktiker Romania, which currently operates 26 units and is one of the largest DIY retailers in the country. PeliFilip assisted Kingfisher PLC.

Auchan Retail Romania, a subsidiary of Auchan, has acquired OK, a supermarket chain which has three units in the Bucharest area, zf.ro reports.

The Iulius Company completed a new office building spanning on over 13,000 sqm in Openville Timişoara, the mixed-use project the company develops together with Atterbury Europe in the vicinity of Iulius Mall. United Business Center 1 (UBC 1) is the second building opened in Timişoara in 2017, after UBC 2 (18,000 sqm) opened in January. Following this latest achievement, the total office area delivered by Iulius on the local market over a single year now adds up to 31,000 sqm.

eMAG, Romania’s largest online retailer announced that it is investing €65 million (RON 300 million) in a 120,000 sqm warehouse which will be built in Giurgiu County, the largest of its kind in Southeastern Europe. The warehouse is due for completion in 2019, zf.ro reports.

Chapman Taylor reported that construction on Expo Business Park in Bucharest is underway. The 70,586 sqm development comprises three separate and self-contained office buildings set over a shared two-level basement parking structure.