Companies have rented almost 70,000 square meters of office space in Bucharest in Q1 2018, according to JLL. One-third of the demand came from companies that formerly had their headquarters in old, small buildings or in other different from modern buildings (non-competitive stock). This segment of demand increased compared to last year when it accounted for only 7% of the total take-up.

With consumer habits changing rapidly and technology reshaping the entire real estate industry, the only way for shopping centres to stay in the race is to innovate. Ingo Nissen, Sonae Sierra’s Managing Director for Romania talked about the future of retail and the Romanian retail market in particular.

Despite being late in its cycle, the global real estate market is benefiting from strong returns for investors and a positive global economic outlook, according to Emerging Trends in Real Estate – The Global Outlook for 2018, an annual forecast of global real estate investor sentiment published jointly by PwC and the Urban Land Institute (ULI). The report notes that in this highly competitive, late-cycle property market, the real estate industry must embrace technology, new business models, and the concept of “space as a service”.

Ikea’s presence is growing rapidly in the SEE region. Construction is underway at the second store in Bucharest and there are further plans for new developments. Viviana Pavel, Real Estate and Development Manager at Ikea South East Europe shared her thoughts on the retail market, e-commerce and the company’s regional expansion.

One United Properties and Auchan Romania plan to invest €100 million in a new mixed-use project in Bucharest called One Floreasca City.

Optim Project Management has assisted NEPI Rockcastle throughout the entire BREEAM certification process for the landmark office project, Aviatorilor 8. The building achieved an ‘Excellent’ level of certification under the BREEAM International 2013 rating scheme.

Vastint Romania was awarded LEED Platinum certification for the first two office buildings of Timpuri Noi Square. The 32,000 sqm office space in the two buildings will soon be completely leased.

What will it take for SEE to attract more foreign capital? Is there enough product available on the market? These are just some of the questions that were asked and answered at SEE Property Forum 2018, a Property Forum and RICS event that attracted over 45 speakers and nearly 300 visitors from 15 countries.

Corinthia Hotels is set to expand its five-star hotel portfolio with the opening of a new luxury property in Bucharest, Romania. Located in the heart of the capital, the former Grand Hotel du Boulevard will open its doors again in December 2019, to coincide with Romania’s National Day.

Alesonor, a Greek-held property development company, plans to invest €100 million in an energy-efficient residential project in the northern part of Bucharest.