Romanian developer Impact Developer & Contractor said it sold 275 residential units during 2022, which had a combined value of 210 million lei (€42.6 million). In the same year, the company recorded pre-sales for another 450 homes with a combined value of 236 million lei (around €48 million), according to a statement submitted to the Bucharest Stock Exchange (BVB).
Romania has one of the lowest volumes of housing loans as a share of GDP, being for instance six times lower than Poland in absolute terms, according to a study published by Romanian developer STC Partners.
Property developer Interdraw, owned by entrepreneur Ulisse Gheduzzi, has obtained the building permit for a new residential complex in Bucharest that will be developed following an investment of more than €30 million.
Romanian property holding Meta Estate Trust says it recorded a gross profit of 7.2 million lei (€1.5 million) during 2022, which was the first full financial year since the launch of the company. Its total revenues amounted to 21.7 million (€4.4 million), while the assets reached 98.6 million lei (€20 million).
Romanian developer One United Properties says its consolidated turnover rose by 4% year-on-year to €235.4 million in 2022, while its gross profit fell 5% to €116.2 million over higher investment activity.
Opus Land Development says it will invest approximately €50 million this year in the construction of about 500 new homes in the residential complex Cosmopolis based in the northern part of Bucharest region.
According to Cushman & Wakefield, 2022 witnessed a recovery in commercial real estate investment activity in CEE, with the year closing marginally up compared to the previous year. Total investment volumes in Central and Eastern Europe came in at €10.7 billion, up by 6.6% year-on-year. With more than €5.7 billion worth of deals, Poland continued to lead the way across the region.
Industrial developer CTP Romania will install a photovoltaic power station with a capacity of 1.5 MW in its CTPark Bucharest project as part of its investments in green energy.
The share of IT companies in the Bucharest office leasing market has shrunk to less than 30% compared to a prepandemic level of more than 50%, according to data from real estate consultancy 24 REAL.
Property developer Cordia Romania, part of Futureal group, says it has obtained the occupancy permit for the second phase of Parcului20, its residential complex based in northern Bucharest.
Industrial developer CTP has leased 2,800 sqm to the food supplements manufacturer Sun Wave Pharma in the industrial park CTPark Bucharest South, located in southern Bucharest.
INATECH Packaging, the protective packaging and insulating materials supplier, has leased 2,300 sqm of office and warehouse spaces in CTPark Oradea Cargo Terminal.
SIDE GRUP, the Romanian distributor of cleaning and hygiene, has leased 1,500 sqm in CTPark Oradea Cargo Terminal. The deal was brokered by real estate consultancy JLL.
New appointments
M Core appoints Magdalena Kowalewska as the new Chief Operating Officer at LCP Properties, Poland. This comes at the same time that Krystian Modrzejewski has accepted a post as the Group Head of Expansion for Poland, where he will be responsible for realising the opportunity for land and asset acquisition in aid of portfolio growth. LCP Properties Poland is part of the M Core group, which brings together family-owned companies that invest in and manage real estate. It comprises LCP, Proudreed, Sheet Anchor, GIPAM and Evolve Estates.
Michał Kloch was appointed as Cost Management Lead, Poland in the Project & Development Services team of Cushman & Wakefield with effect from 1 March. In his role, he heads a team of quantity surveyors and is responsible for oversight of construction costs during all project delivery phases and for preparation of cost analyses and reports.
Two people have joined the REINA Company. Since February this year, Michał Baranowski acts as Business Development Manager and Joanna Turalska supports the work of the team as Leasing & Team Coordinator.
REINA Company specialises in comprehensive transactional and echnical consultancy for organisations using office space.
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