ARTICLES LABELLED WITH TAG Romania

Romanian property group Impact Developer & Contractor has announced the appointment of Richard Dan-Sebastian Câmpeanu as interim General Manager starting June 1 following a decision of the Board of Directors. He will replace Constantin Sebeșanu, who will complete a 3-year stint at the helm of the company.

Romanian developer One United Properties recorded a profit growth of 3% to €31.6 million in Q1 2024 versus the same period of last year, while its turnover fell by 5% to €84.3 million in the same interval.

The industrial and logistics market in Romania recorded new lease deals for around 200,000 sqm in Q1, with most of the demand generated by manufacturers, FMCG and logistics operators, according to a Cushman & Wakefield Echinox report.

Hagag Development Europe has purchased a residential complex under development in Eastern Bucharest, located on a former industrial platform.

The volume of new mortgage loans amounted to €1.1 billion in Q1 2024, up by around 29% compared to the same period of last year, according to a report by SVN Romania | Credit & Financial Solutions.

More real estate deals will be closed once central banks start to cut interest rates, while Romania is still seeing investment geared towards sustainability in its commercial and residential sectors, concluded speakers of the dealmakers panel of Property Forum’s Spring Networking Party, held in Bucharest.

Fintech start-up MetaWealth has partnered with One United Properties in a €20-million framework agreement for rental apartments. In the first phase, MetaWealth will list on its platform 31 apartments developed in One Lake District, which have a total estimated investment value of €5.5 million. The fintech said that two more assets will be listed in the following 12 months.

Banks are starting to ask from the first stage about the sustainability targets of real estate projects, while EU rules are shaping the reporting framework, concluded speakers of the construction and property development panel of Property Forum’s Romania ESG Forum held in Bucharest.

Indotek Group has completed a large-scale revamping of its Plaza M retail project in Târgu Mureș. The company has invested €16 million in the renovation of the shopping complex prevously branded as Promenada Mall.

Property consultancy 108 Real Estate has announced its expansion in Romania, where it will focus on the industrial segment.