AFI Europe Romania finalised the acquisition of a land plot in Bucharest, in the proximity of AFI Park 1-5 and AFI Cotroceni shopping mall, with a surface of approximately 43,000 sqm, in a transaction worth €23 million.

H&M Romania has leased 1,000 square meters in Unirii View, a 73-meter tall office building in the centre of Bucharest. The fashion retailer will take up a superior floor within Unirii View.

Romania becomes the seventh country in which Mindspace offers its flexible workplace solutions, following a leasing agreement Globalworth has just signed. Mindspace will start operating in three Bucharest buildings, on approx. 12,000 sqm across Globalworth Campus, City Offices and Bucharest Tower Center. At the same time, Globalworth is investing $10 million in the company to support its ongoing growth.

After delivering the first two office buildings of the Globalworth Campus complex in Bucharest, the developer has started the construction of Tower 3, with a total leasable area of 35,000 sqm. Upon completion, Globalworth Campus will comprise three main office towers offering 92,000 sqm of leasable area and 760 parking spaces, along with green areas and a large conference hall.

Romania ranks 6th in the top destinations in the data centres market in Europe, while the Nordics and the Netherlands occupy the first positions, according to Savills’ new Data Centre Investment Index. The number of data centres is multiplying to accommodate the surging demand for data storage. Thus, the need to have smaller scale domestic facilities to comply with data and privacy laws is set to lead to an uptick in activity across all of Europe.

AFI Europe Romania broke ground this month on AFI City, the first large-scale residential project to be developed by the company in Romania. TGC was assigned as the general contractor for the first phase of the project.

Immofinanz has sold two plots of land managed by Adama, a developer part of theImmofinanz group, to Speedwell Real Estate Development. The buyer plans to expand its residential and office development portfolio in the northern part of Bucharest. The purchase price has not been disclosed.

AFI Europe Romania announced the appointment of Doron Klein as CEO of the company starting from July 2018. Doron currently leads AFI Europe’s Czech operations. He will replace David Hay, who held the position of CEO of AFI Europe Romania over the past seven years.

Element Industrial, a property developer founded by businessman Ionut Dumitrescu, has recently entered the logistics market by announcing its first project, Eli Park 1 in the Chitila area, west of the Romanian capital. The project will require an investment of €25 million.

Nova Imobiliare announced the €30 million expansion of Colosseum Mall, in the north-western area of Bucharest. Construction is scheduled to start later this year and the inauguration will take place in the first half of 2019.