ARTICLES LABELLED WITH TAG Romania

As the European Union has proposed the move towards zero-emission buildings by 2030, a significant portion of the energy consumption of these projects should be covered by energy from renewable sources. This includes renewable energy produced on-site or nearby so property companies are starting to invest in such facilities in a bid to lower operating costs and meet targets under their ESG agendas. The investments in such capacities have been boosted by the high energy price environment and the need of property companies to enhance the security of power supplies.

Romanian industrial developer Global Vision has purchased the Nova Building office project in northern Bucharest, with the overall investment in the building set to exceed €12 million.  

New technical regulations regarding the methodology for calculating the energy performance of buildings will be enforced in Romania starting February. The new rules will help the local construction market will take an important step forward by aligning with European standards and trends in terms of sustainability

Demand for new offices in Bucharest rose by 13% in 2022 compared to the previous year, with 332,922 sqm of spaces leased in the city during the past year, according to real estate consultancy Fortim Trusted Advisors. 

Property investor Yellow Tree has purchased the Olympia Tower office building in Bucharest from Bluehouse Capital for an undisclosed sum. 

Residential developer Redport Capital has purchased a land plot of 10,800 sqm and warehouses covering 4,700 sqm near a project that the company is currently developing in the Petrom City area in northern Bucharest.

Some 100,000 sqm of new retail spaces were delivered last year in Romania, of which 80% were integrated in retail parks, while new projects with a leasable area of around 230,000 sqm are expected in 2023, which would be a 6-year high, according to Cushman & Wakefield Echinox.

Demand for renting and buying real estate should remain decent over the longer term in Romania and its neighbors, despite 2023 most likely being a bit more challenging than a regular year, according to experts of Colliers. 

Romanian developer Transilvania Construcții has purchased an industrial park in Arad from Comalim in a deal estimated at around €3.5 million. 

Property group NEPI Rockcastle, the largest owner of shopping centres in Romania, has secured a green loan totalling €‎60 million for Ploiești Shopping City from a syndicate of banks.