ARTICLES LABELLED WITH TAG Romania

Romanian developer STC Partners has secured bank financing from Banca Transilvania for the first phase of Quartier Azuga residential project in Bucharest worth €6 million. 

America House has become the first-Class A office building in Bucharest to obtain an Outstanding rating according to the BREEAM In-Use certification methodology, after a major investment of €10 million. The certification process was managed by BuildGreen. 

Asking prices of homes in Romania rose by 6% year-on-year to €1.682 per sqm during 2022, while the number of property deals slightly grew last and the demand in the residential segment has started to fall, according to a report by real estate classifieds platforms Imobiliare.ro. 

Commercial property investment in Romania totaled €1.25 billion in 2022, up 40% compared to the previous years, of which the biggest single deal was Pavăl Holding’s acquisition of CA Immo’s office portfolio for €600 million, according to real estate consultancy JLL România. Last year's result was the biggest since 2008.

Property developer and investor Globalworth has secured new funding worth €160 million from Austrian Erste Group. 

Property developer Speedwell has secured financing from Alpha Bank Romania for SpacePlus, its first industrial development located in north-western Bucharest. 

Romanian developer Alsin Management will invest €40 million in a new residential complex based in Pipera, northern Bucharest. 

The volume of land sales for commercial real estate projects in Romania (excluding for traditional industrial and logistics projects) reached around €450 million in 2022, down from almost €800 million euros a year earlier, according to estimates by real estate consultancy Colliers. 

Belgian developer Atenor says it has agreed on a bilateral promise with CEE-focused real estate investment manager Adventum Group for the sale of the office complex @Expo in Bucharest. The promise is under the suspensive condition of the signing of a share purchase agreement by the end of Q1 2023, Atenor announced in a press release.

In the past 12 months, there were 154 buildings in Romania that received green certifications under the BREEAM or LEED standards, accounting for one-third of all buildings that were certified in the past 14 years, according to data from green building consultancy ADP.