ARTICLES LABELLED WITH TAG Romania

The Center - West area (Politehnica, Orhideea, Cotroceni) has become the largest office hub in Bucharest, overtaking the Floreasca – Barbu Văcărescu submarket in Q1 2023, according to research by Cushman & Wakefield Echinox. This area is set to maintain its leading position in the medium term, considering the current development pipeline in the city. 

Romania’s property sector has more liquidity and deals are taking place across sectors, although the country is not in a late stage of price discovery, concluded speakers of the dealmakers panel at the Spring Networking Party 2023, organised by Property Forum earlier this month in Bucharest

Romanian developer One United Properties recorded a turnover of €89.3 million in Q1 2023, up 27% compared to the same period of last year, while the net profit more than doubled to €30.8 million in the first quarter over higher residential sales and growing rental income. 

Communication consultancy Șerban & Musneci Associates has launched SMA Real Estate Kluster, a new division that is exclusively dedicated to the Romanian property market. 

Progress on ESG in the real estate industry has been seen since 2018 and sustainability considerations are shaping investment strategies and client demand, concluded speakers of the ESG in real estate panel of Romania ESG Forum 2023, organised by Green Forum and Property Forum last week in Bucharest.

The Ascott Limited (Ascott), one of the world's biggest hospitality owners and operators with a presence in over 260 cities, will enter Romania following an agreement with local developer Forty Management. The planned hotel in Bucharest will be operated by the luxury brand The Crest Collection.  

Romanian investors have made real estate acquisitions worth €1.1 billion in the last 5 years, having a share of 28% in the investment volume recorded in this period, according to a report by Cushman & Wakefield Echinox.

Healthcare buildings developer MEDCITY has purchased a prime building of over 1,000 sqm in the center of Timișoara from fashion group Folli Follie (FF) Group in a transaction brokered by Colliers. The deal marks the company’s expansion of its portfolio of buildings under The Medical Mall concept. 

Asking prices for homes in Romania fell on average by 0.6% in April compared to the previous month to €1,425 per sqm, according to data from Imobiliare.ro. 

Dairy company FrieslandCampina has started operations on the 4,500 sqm logistics space based in industrial park Mureș City Logistics jointly developed by Global Vision and Globalworth.