ARTICLES LABELLED WITH TAG Romania

Property investor Globalworth has reported a net loss of €16.1 million in 2022 compared to a profit of €47.5 million in 2021, while the value of its commercial portfolio remained effectively unchanged at €3.2 billion. 

Property Forum is excited to announce that the 2023 edition of “The 50 most influential people on Romania’s real estate market” will be published on May 4th during our Spring Networking Party in Bucharest, on the day of our first-ever Romania ESG Forum.

Industrial developer CTP's net rental income amounted to €452.1 million in 2022, which was an increase of 38.3% year-on-year, while like-for-like rental growth was 4.5% last year, mainly driven by reversion on expiring leases and renegotiations, and supported by the 2021 indexation of 1.7%. The company's annual profit decreased by 22.4% from €1,025.9 million in 2021 to €796.5 million in 2022.

Industrial developer P3 Logistic Parks has secured leasing contracts for over 98,500 sqm of logistics and office space in Romania during 2022 over higher demand from the retail, logistics and transport sectors. 

Hospitality group Accor will open a new Mercure hotel in Bucharest in the fall of 2023. The new hotel located next to Unirii Square will be operated under a franchise agreement with local company Sab Serv Expres. 

Romanian developer Impact Developer & Contractor said it sold 275 residential units during 2022, which had a combined value of 210 million lei (€‎42.6 million). In the same year, the company recorded pre-sales for another 450 homes with a combined value of 236 million lei (around €‎48 million), according to a statement submitted to the Bucharest Stock Exchange (BVB). 

Romania has one of the lowest volumes of housing loans as a share of GDP, being for instance six times lower than Poland in absolute terms, according to a study published by Romanian developer STC Partners. 

Property developer Interdraw, owned by entrepreneur Ulisse Gheduzzi, has obtained the building permit for a new residential complex in Bucharest that will be developed following an investment of more than €30 million. 

Romanian property holding Meta Estate Trust says it recorded a gross profit of 7.2 million lei (€1.5 million) during 2022, which was the first full financial year since the launch of the company. Its total revenues amounted to 21.7 million (€4.4 million), while the assets reached 98.6 million lei (€20 million). 

Romanian developer One United Properties says its consolidated turnover rose by 4% year-on-year to €235.4 million in 2022, while its gross profit fell 5% to €116.2 million over higher investment activity.