Hagag Development Europe has kicked off the construction works for the consolidation and repurposing of Știrbei Palace on Calea Victoriei. The building will be transformed into H Știrbei Palace, the company's first retail project in Bucharest.

Food retailer Ahold Delhaize, the owner of the Mega Image supermarket chain in Romania, has purchased the Profi supermarket chain from MidEuropa private equity fund, in a deal worth €1.3 billion.

The automotive industry had a share of 56% of the total demand for production spaces in industrial projects between 2013 and H1 2023, according to CBRE data.

Real estate investments continue despite the slowdown of the economy, with offices and industrial mentioned as some of the segments seeing increased demand and higher deal volumes, concluded speakers of the 2024 outlook panel hosted at the SEE Property Forum 2023 conference in Bucharest.

Property Forum is excited to announce the winners of its annual SEE Property Forum Awards for 2023. The winners of each category were selected from our shortlist by the jury committee, comprising the leading players of the Romanian real estate industry. The awards, celebrating the best projects, most impactful transactions and most inspiring personalities of the Romanian market, were presented at our awards gala in Bucharest last night, part of the annual SEE Property Forum conference.

Elektrokontakt Romania (EKR), a subsidiary of ELEKTROKONTAKT GMBH, has leased 14,735 sqm for the next 10 years in Mureș City Logistics, jointly developed by Globalworth and Global Vision. Following this deal, the project has reached full occupancy rate.

Pavăl Holding has appointed CBRE as manager of its U-Center 1 office building. The manager will oversee all aspects of the property in relation to tenants, subcontractors, and authorities.

New office lease and renegotiation agreements were signed for 158,923 sqm during Q3 2023, up 36% compared to the previous quarter on the Bucharest market, according to data from Fortim Trusted Advisors, a member of the BNP Paribas Real Estate Alliance.

Retail developer Scallier has attracted Stay Fit Gym as tenant in its retail parks based in Romania. As part of the agreement covering 6,256 sqm, six fitness clubs under the Stay Fit brand will be opened in the retail projects operated by Scallier. The first retail park is slated to open in a retail park in Moșnița in the upcoming months.

At the country level, the share of retail parks in modern retail stock is constantly growing, at the end of H1 2023 claiming 39% of the market, according to a CBRE report.