ARTICLES LABELLED WITH TAG Romania

Fashion House Group will start in the second quarter of this year the construction of the second phase of Fashion House Outlet Centre Pallady, which is located in the eastern part of Bucharest. 

While the investment volume will cool this year after the record of transactions worth €‎1.25 billion that was closed in 2022, Romania will remain on the radar of investors throughout 2023, with some trends set to shape the development. CBRE Romania has published a report summarising the driving forces for the local industry this year.

While around 100,000 sqm of new office space is expected in Bucharest this year, no new project is slated for delivery in 2024 which would move the city into a landlord’s office market, according to Colliers. 

Property developer Speedwell says it will be installing photovoltaic panels on two of its office projects in Bucharest and Cluj-Napoca in a bid to make its building more sustainable. 

Price and yield moves on the Romanian property market will be influenced in the near future by both the availability and the cost of capital, while the overall volume of deals is likely to fall this year after reaching a 15-year high during 2022, suggest Colliers’ consultants. 

The volume of industrial and logistics projects slated for delivery in Romania this year will reach at least 510,000 sqm, compared with 875,000 sqm in 2022, according to data from JLL Romania. 

Romanian proptech company BrightSpaces has appointed Mike Hapoianu as MENA Regional Manager as part of the firm’s expansion strategy. 

Romanian developer Pedro Construct has completed a new office building spanning 9,500 sqm in Bucharest following an investment of around €18 million.  

New demand in Bucharest's office market (new leases, pre-leases and relocations from non-competitive stock) had a share of 57% or 185,000 sqm of the total office take-up in 2022. Demand itself was up 10% year-on-year, according to a study by real estate consultancy Cushman & Wakefield Echinox. 

Currently, more than 80% of employers in Romania have less than half of their employees in the office on a normal working day, according to a survey conducted by Colliers among 75 companies whose headcount ranges from several dozen to hundreds of employees.