ARTICLES LABELLED WITH TAG Romania

A new five-star Radisson Blu Hotel has opened in Cluj-Napoca, Romania’s second largest city that is one of the most popular leisure and business destinations in the country.

Romanian developer One United Properties plans to invest at least €70 million in the next two years in the urban regeneration of abandoned historical landmarks in Bucharest.

The most exposed sectors to the inflationary pressures in Romania are the residential, industrial and retail ones, with a lot more resilience found in the office segment, suggest representatives of real estate consultancy Cushman & Wakefield Echinox. 

Investments in Romania’s commercial real estate market amounted to €566.9 million in the first half of this year, compared to €194 million in the same period of last year, according to a report by real estate consultancy FortimTrusted Advisors, an alliance member of BNP Paribas Real Estate. 

Asking prices of apartments in Romania fell by 0.3% in June compared to the previous month, with the average listing price of a property reaching €1,745 per sqm. 

MAD Planning & Projects has sold an office building in Bucharest to the University of Medicine and Pharmacy in Bucharest for an undisclosed sum. The building located close to the University Area is set to host a medical simulation center.  

With total investments exceeding €500 million in Romania’s real estate market in the past 25 years, Anchor Grup is looking for new funding and recently kicked off a new residential project. Affan Yildirim, General Manager, Board Member of Anchor Grup and Board Member of Shopping MallDova, spoke to Property Forum about the way in which the developer adapted its malls and offices to the post-pandemic trends but also about the investment context in the country.

Romania is an attractive market for international retail companies which are interested in leasing large areas, often above 1,500-2,000 sqm, according to a report by real estate consultancy CBRE. Bucharest is the leading city with 66,222 sqm of retail spaces under development, followed byu Craiova, Timișoara and Iași.

Property group Immofinanz has signed a 25-year lease for 6,500 sqm in Bucharest-based myhive Victoria Park to Leventer Medical Group. The leased area will host Leventer Hospital, the country's first private dermatology and surgical oncology hospital that will open in 2024 following an investment of around €10 million. 

Property developer Globalworth has secured a green loan of €85 million from the IFC, a member of the World Bank, which will be used for the expansion of sustainable projects in Romania.