ARTICLES LABELLED WITH TAG Romania

The leasing volume of industrial and logistics spaces in Romania amounted to 410,500 sqm during H1 2024, down by 25% versus the same period of last year, with close to half of the total take-up recorded in Bucharest region, according to a Cushman & Wakefield Echinox report. 

InteRo Property Development, owned by the Canadian Topolinski investors family, has kicked off the construction of a new mixed-use project in Bucharest with a valuation of €1 billion. 

The ongoing construction of office projects in Bucharest fell by around 50% year-on-year by H1 2024, to 46,900 sqm, with their completion scheduled for 2024-2026, according to an iO Partners report. 

The office leasing volume closed in H1 2024 grew by 0.2% compared to the same period of last year, with Bucharest seeing the biggest activity, followed by Cluj-Napoca and Timișoara, according to a report by Fortim Trusted Advisors.

Romanian developer One United Properties has announced the contracting of a €20 million increase in the financing obtained in 2021 for the development of One Cotroceni Park Office Phases 1 and Phase 2. The financing increase was backed by BCR and BRD and will be used to reimburse shareholder loans and cover other costs related to the credit facility increase transaction. 

Vlad Musteață, CEO of North Bucharest Investments, spoke to Property Forum about the outlook for the residential market in the north of Bucharest, as well as the agency’s accelerated sales growth over the past two years.

Rüdiger Dany, CEO of NEPI Rockcastle, talked to Property Forum about the group’s €650 million development pipeline, demand trends in Central and Eastern Europe (CEE) and its investments in photovoltaic panels across the portfolio of assets.

Law firm PeliPartners has assisted WDP in the acquisition of several industrial projects and a landbank from Globalworth and Global Vision. 

The headline RICS Commercial Property Sentiment Index (CPSI) holds steady in the latest survey for Q2 2024, while the outlook for secondary offices and retail remains particularly negative in many markets.

Law firm Kinstellar has advised Globalworth on the sale of a logistics portfolio in Romania to WDP, in one of the biggest industrial transactions completed in Romania in the year to date.