ARTICLES LABELLED WITH TAG Romania

P3 has a strong pipeline of Romanian projects for 2018, the company announced. P3 plans to open new locations in Bucharest and the western part of the country.

The European Bank for Reconstruction and Development (EBRD) said it has subscribed €50 million into a €500 million Eurobond first issuance by NE Property Cooperatief, a company owned by CEE-focused real estate investment trust NEPI Rockcastle.

At ca. €12.98 billion, 2017 recorded a 3.3% increase over 2016 (€12.56 billion) and, for the second year running, set a new record transaction volume for the CEE region. JLL has registered continued appetite from investors for the full range of assets across the entire region.

CTP announced changes and the expansion of its management team, both local and international. Ana Dumitrache, who has been the company’s Romanian Co-Country Head for 14 months, will leave CTP on 1 February to pursue a new career opportunity. Company COO Robert Pitt will take over the tasks of Ana Dumitrache. Remon Vos, CEO of CTP and Country Head for Romania will continue his position.

2017 was a year of dynamic growth on Romania’s real estate market and the stage is set for 2018 to bring just as strong results. Silviu Pop, Head of Research at Colliers International Romania put together 10 predictions for the Romanian market in 2018.

Property investment volume for Romania is estimated at almost €1 billion last year, a value ca.10% higher than the one registered in 2016 (€890 million). Romania accounted for 8% of the total investment volume recorded in the CEE region (€12.98 billion, a 3.3% increase over 2016). The growth of the Romanian market exceeds the increase of the CEE volumes, but the local market is still under its potential, according to JLL.

Romanian industrial and logistics gross take-up increased in 2017 by almost 15% to over 525,000 square meters, registering a new record level, JLL reports.

CTP will complete the construction of several warehouses and start new developments in its three logistics parks situated in the vicinity of the Romanian capital: CTPark Bucharest West, CTPark Bucharest and CTPark Bucharest North (former Chitila Logistic Park). It is estimated that by the end of 2018 their cumulated surface will reach approximately 680,000 sqm. CTP plans a total expansion of at least 300,000 sqm at national level.

Laurentiu Lazar, Senior Partner, Investment and Valuation Services, will take over as the new Managing Partner of Colliers International Romania, effective as of March. Ilinca Paun, the current Managing Partner, will remain Member of the Board and will focus on her activity at Entrepreneurship Academy, where she will operate as CEO.

In 2017 the Bucharest office market has posted results close to the 2016 record ones, taking into consideration transactions in Class A and B buildings. 2018 is expected to bring growth and new demand from players that are going to enter the market, but also of the existent ones who will extend or relocate. The annual Knight Frank report – European Commercial Property Outlook – estimates that European commercial property markets enter 2018 with positive momentum.