The developers of Belvedere Residence in northern Bucharest sold the commercial gallery on the ground floor of the residential buildings within the complex to a private investor for an undisclosed sum.
Investors and tenants in Romania appear to have higher expectations regarding the environmental characteristics of the building than their counterparts in other countries, according to a survey by CBRE of 20 building owners in Romania.
The average office fit-out costs in Romania rose by around 20-30% in 2022 due to a combination of supply chain pressures and higher materials’ costs, which saw companies paying an average of €820 per sqm of office space, according to real estate consultancy Cushman & Wakefield Echinox.
Housing prices in Romania rose by 34% between 2015 and 2021, while the average growth in the EU was 38%, according to a report by real estate consultancy Colliers.
Square 7 Properties and Belgian investment fund Mitiska REIM will open this week Giurgiu Shopping Park, which has a leasable area of 7,000 sqm. The general contractor of the project was Austrian construction firm Strabag.
Toys distribution firm Viva Toys has purchased a 12,500 sqm logistics space as well as a land plot of 63,667 sqm from Aplast Wood Industry, a portfolio company of the CEE Special Situations Fund managed by EMSA Capital, for an undisclosed sum. The assets are based in a locality in Ilfov County, near Bucharest.
Property developer Atenor has named Viorel Lăcătuș as Country Manager in Romania. He has more than 19 years’ worth of experience in real estate, mostly in advisory roles.
Property group Globalworth said its total combined portfolio value remained effectively unchanged at €3.2 billion during 2022 compared to 2021, while investments in logistics/light-industrial facilities in Romania and the refurbishment/repositioning of two mixed-use properties in Poland totaled €52.2 million.
The Change Lingerie brand opened its first shop in the Factory Gliwice outlet centre. The store occupies an area of approximately 100 sqm in the facility.
Another eobuwie.pl shop with a Modivo zone has opened in Pasaż Grunwaldzki in Wrocław. The new outlet occupies an area of 300 sqm.
Three new tenants have joined the ranks of the tenants of Bydgoszcz's CH Rondo retail centre. Gudi Home, Pink Box and Piekarnia Grochola Prawdziwy Chleb have signed agreements for premises with a total area of nearly 1,700 sqm.
New appointments
Florin Suicescu has been named COO of Forty Management. With over 30 years of management experience, he has held senior positions in real estate and hotel developments.
Daniel Rutkowski joined Walter Herz Investment Advisory Department, currently consisting of six people, and took the position of Development Manager. He will be responsible for searching for and acquiring investment projects, developing investment potential analysis and building the value of real estate.
Dariusz Proniewicz has joined MDC2's team of experts to take on the position of Development Director BTS, with responsibility for the development of BTS investments.
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