ARTICLES LABELLED WITH TAG Romania

Property developer Hagag Development Europe will invest over €20 million in H Primăverii 1, a new residential project comprising 18 apartments and 700 sqm of commercial spaces.

Romanian developer Studium Green has purchased a property portfolio from Immobiliare Italo Romena, a subsidiary of former Italian lender Veneto Banca, for an undisclosed sum. 

Polish developer Scallier will open new retail parks with a combined surface of more than 40,000 sqm in Timișoara, Turda and Vaslui throughout 2022, after completing its first two projects in the country.

Asking prices for apartments in Romania rose by an average of 3.2% to €1,707 per sqm in April compared to the previous month, while on a 12-month basis prices expanded by 22.3%, according to a report by Imobiliare.ro platform. 

More than 50% of the industrial and logistics projects under construction in Romania are already pre-leased with leasing activity in Q1 2021 rising by 50% to over 300,000 sqm compared to the same quarter of 2021, according to a report by Cushman & Wakefield Echinox. 

Anchor Grup has kicked off the development of Select Residences, a new residential complex that will be developed in Bucharest following an investment of €40 million.  

Companies in the IT&C sector had a share of 32% in Bucharest’s office lease market in Q1 and generated 93.6% of new leasing transactions in regional cities such as Cluj-Napoca, Iași, Timișoara and Sibiu.

Irish fashion retailer Primark will open a new store in AFI Cotroceni, the shopping mall owned by AFI Europe in Bucharest. 

OTP Bank Romania has granted €8 million in financing to Polish developer Scallier, for the construction of Funshop Park Turda.  

Romanian developer Genesis Property will invest €50 million in the transformation of office complex Novo Park into YUNITY Park, a campus that will include co-working and co-living spaces. The project spanning seven buildings with a leasable area of 75,000 sqm will be completed in the first quarter of 2023.