ARTICLES LABELLED WITH TAG Timisoara

Asking prices for apartments and houses in Romania gained 3% in the first quarter of 2021 compared to the same period of 2020, but the yearly growth rate cooled down due to the reduction of demand and the increase of stock available for sale, according to a report by Imobiliare.ro. 

Kromberg & Schubert, the German producer of cables and electrical systems for the car industry, has sold its plant in Timișoara to Continental Group, according to market sources quoted by ZF.ro. The transaction will allow the company to replace its manufacturing operations in the city with research and development activities. 

Global logistics solution provider Mainfreight has started operations on a new distribution hub in Timișoara Industrial Park (II), a project jointly developed by Globalworth and Global Vision. 

The average asking price for an apartment in Romania stood at €1,379 per sqm in March, up 1.5% compared to the previous month, according to a report by real estate portal Imobiliare.ro. 

Over 230 real estate projects in Romania have been certified to meet health, safety and sustainability standards and the pandemic has boosted the efforts of developers to meet targets for such ratings, according to Colliers. 

Optim Project Management has completed its work on the new 6,715 sqm ibis Timișoara City Center for Hotel Development SA, a company owned by brothers Emil and Marius Cristescu.

CTP announced its expansion plans for the Transylvania area. The developer plans to double the leasable area of ​​logistics spaces in the Transylvania region until 2023 by investments of €50 million in the expansion of its two logistics parks around Timișoara. Some of the spaces included in the construction plan are already leased to companies from the logistics and manufacturing sectors.

Arad-based developer Wallberg has secured a €7.3 million loan from Garanti Bank for the construction of the second tower of the XCity Towers complex, the first residential tower in the city of Timișoara, a project worth €75 million which will total 955 apartments.

The Vox Technology Park office building in Timișoara has obtained the BREEAM In-Use v6 sustainable certification with an Outstanding rating, the highest existent score accorded on a global level, thus being the first project in Romania with this ranking.

AFI Europe, the owner of among others the largest mall in Bucharest, has completed the takeover of the portfolio consisting of four office projects from NEPI Rockcastle, in the most important office transaction in Romanian history. With a value of €307 million, the transaction through which NEPI Rockcastle, advised by Colliers International, sold four office projects to AFI Europe represents a third of the real estate investment market estimated at about €1 billion in 2020. The acquisition places Romania on the map of large strategic investors and has the potential to become a catalyst for significant new transactions in the future, being an important benchmark for local market liquidity and contributing to increasing investor confidence, according to Colliers International specialists.