ARTICLES LABELLED WITH TAG Romania

According to Cushman & Wakefield, 2022 witnessed a recovery in commercial real estate investment activity in CEE, with the year closing marginally up compared to the previous year. Total investment volumes in Central and Eastern Europe came in at €10.7 billion, up by 6.6% year-on-year. With more than €5.7 billion worth of deals, Poland continued to lead the way across the region.

Industrial developer CTP Romania will install a photovoltaic power station with a capacity of 1.5 MW in its CTPark Bucharest project as part of its investments in green energy. 

The share of IT companies in the Bucharest office leasing market has shrunk to less than 30% compared to a prepandemic level of more than 50%, according to data from real estate consultancy 24 REAL. 

Property developer Cordia Romania, part of Futureal group, says it has obtained the occupancy permit for the second phase of Parcului20, its residential complex based in northern Bucharest. 

While the costs of construction materials in Romania rose during 2022, impacting the ability of developers to self-finance their projects, the current outlook is not pointing towards an improvement of this situation this year, according to an analysis by the Eastern European Construction Forecasting Association (EECFA).

The potential development of residential for rent (PRS) in Bucharest could reach 5,000 units by 2025, according to real estate consultancy Colliers Romania.

Zuzanna Kurek, Investor Relations Manager and ESG Committee Member of One United Properties, spoke with Property Forum about the ESG agenda of the Romanian developer and its role in growing the value of the company. Moreover, she also discussed how sustainability is becoming a strategic element in the developer’s negotiations for funding with banks and capital market investors.

The modern office stock in regional Romanian cities is set to reach around 1.3 million sqm in the next five years if the planned projects spanning 275,000 sqm will be delivered in this period, according to a report by real estate consultancy Cushman & Wakefield Echinox. 

Speedwell has purchased a land plot of 14 hectares in Corbeanca locality, close to northern Bucharest, for a new residential development that will feature 210 villas. 

Romanian developer Prima Development Group has obtained a loan of €16.8 million from Libra Bank for the first phase of a new residential complex in Bucharest.