ARTICLES LABELLED WITH TAG Romania

Speedwell Development has obtained the construction permits for the first 50 luxury villas in a new residential project in Corbeanca, near Bucharest, where it plans to invest €94 million.

Romanian property developer Prima Development Group has obtained the construction authorization for a new residential complex with 491 apartments in the western part of Bucharest.

German developer Garbe Industrial Real Estate has set up a new company in Romania. Under the leadership of CEE Managing Director Martin Polák and Country Head Andrei Jerca, GARBE Industrial Real Estate Romania will expand its activities in this market and implement its own property developments. 

The retail market in Romania has room for growth, considering that short-to-long term pipeline exceeds 800,000 sqm, consisting of projects under construction or in different permitting stages, which are due to be completed by the end of the decade. 

Meta Estate Trust has invested in a plot of land near Victoriei Square in central Bucharest, where it plans to develop a building that will be leased to a chain of private medical clinics.

Square 7 Properties and Mitiska REIM have inaugurated Pitești Shopping Park, a new shopping center located in the northern area of Pitești, following an investment of €19 million.

The Bellemonde residential complex in Pipera, near Bucharest, is recording growth in sales for its villas and apartments.

The Romanian residential market is navigating through many changes. This means that developers need to be flexible in order to adapt to all changes, as the speakers of the residential panel of SEE Property Forum 2024 concluded.

Mortgage loans worth €5.5 billion were granted in total at a national level in the first eight months of 2024, up 49% compared with the same period of last year, according to data from the National Bank of Romania (NBR). 

Investors are still on hold today. As Property Forum’s recent survey showed, two-thirds of investors are expected to continue to take a ‘wait and see’ stance and look for a better vision of the future in the coming period. But, as the speakers of the investor expectations panel of SEE Property Forum 2024 showed, there are opportunities available all over CEE, including Romania.