New office deliveries in regional cities totaled 83,000 sqm in 2023 and the total leasable area has climbed close to 1.1 million sqm, according to a Cushman & Wakefield report. Offices in regional cities of the likes of Cluj-Napoca, Timișoara and Brașov represent around 30% of the corresponding total in Bucharest.

Speedwell has kicked off the development of the second residential building of the mixed-use project Paltim based in Timișoara.

The industrial and logistics market in Romania reached a stock of 7 million sqm at the end of 2023, with another 500,000 sqm under development across the country, according to data by Cushman & Wakefield Echinox.

Speedwell says it has completed the construction works for the first 123 apartments in the mixed-use urban regeneration project Paltim, based in Timișoara. The delivery of the apartments is expected in Q1 2024.

Topband Smart Europe, a Chinese maker of controllers for power tools, home appliances and BMS, has inaugurated its production capacity for the European market in CTPark Timișoara.

Scallier has opened a new retail park in Moșnița, near Timișoara, making it the sixth in the company’s portfolio based in Romania.

Romanian developer Iulius has signed a partnership with Oil Terminal, a public company owned by the state, for the urban regeneration of a 38-hectare land plot in Constanța. Iulius plans to invest more than €810 million in a large mixed-use scheme. 

Bucharest is the largest retail market in Romania with a total stock of 1.24 million sqm in operational projects, while across the country Timișoara has the biggest volume of shopping centres and retail parks of all regional cities. 

Real estate developer Speedwell has purchased a new land plot in Timișoara, where the company plans to start the construction of its second mixed-use project in the city. The value of the transaction was not made public.

Alexandros Diamantis, Managing Director of Medcity spoke with Property Forum about the company’s investments in Romania that reached €30 million to date and the new cities that have potential for new healthcare real estate developments.