ARTICLES LABELLED WITH TAG Romania

Bergam Design House will manage the renovation process of Grand Hotel Bucharest, former Intercontinental Bucharest, as part of an €21 million investment that will be completed in 2024. 

Romanian developer One United Properties recorded revenues of 1.1 billion lei (€222 million) during 2021, up 105% year-on-year, while the gross profit expanded almost two-fold to 603.5 million lei (€122 million) over higher residential sales and increased rental income. 

There is scepticism in the market regarding the correlation between sustainability and financial performance but it is beneficial to be sustainable if you consider the overall life-cycle of the building, explains Oana Stamatin, ESG Chief Officer | CEE & Romania at Colliers. She talked to Property Forum about the challenges and opportunities owners of real estate face in striving for ESG compliance. 

Romania's Impact Developer & Contractor says it sold 430 residential units during 2021, of which pre-sold apartments sales gained 37% to 250 million lei (€50.5 million), while the rest of 183 units were worth 138 million (€27.8 million). 

Fashion House Outlet Centre Pallady will undergo an expansion of 5,674 sqm roughly one year after the delivery of the first phase of the project located on the eastern outskirts of Bucharest. 

List prices for residential properties in Romania rose by 3.4% in the last quarter of 2021 compared to the previous three months. 

With six new office buildings slated for delivery this year, the leasable stock will grow by 135,700 sqm, which is the lowest level since 2017, according to real estate consultancy CBRE.

Property investor Omer Susli has purchased River Plaza Mall in Râmnicu Vâlcea from Sonae Sierra for an undisclosed sum.

Romanian developer Forty Management has secured a syndicated loan worth €65 million for a new mixed-use project in Bucharest. 

Fortim, a member of the BNP Paribas Real Estate Alliance, has expanded its property management portfolio with the office project Maestro Center in Cluj-Napoca and Tureni Industrial Park in Cluj County.