ARTICLES LABELLED WITH TAG Bucharest

Globalworth provided an update on a number of initiatives completed prior to year-end: the acquisition of two land plots in Bucharest, an increase in its shareholding in Griffin Premium RE and the completion of the EPP deal.

JLL has advised Elbit Imaging Ltd, a NASDAQ listed company, on the sale of the Radisson hospitality complex in Bucharest to a joint venture between two international investment funds. The sale represents the largest ever hotel transaction by deal volume in Romania and among the largest recorded in Central Eastern Europe.

AFI Europe Romania has signed a financing agreement for €22 million with Bank Leumi Romania for the development of phase 1 of AFI Tech Park, the newest business park the company is currently developing in Bucharest.

Cityland, a Bucharest-based residential real estate agency, will start selling apartments in bitcoin in response to the growing popularity of the virtual currency, profit.ro reports.

As a response to continued strong demand from tenants in Budapest and Bucharest, Skanska plans to launch several new projects in both capital cities. Marcin Łapiński, Managing Director for Hungary and Romania talked to Property Forum about the differences between the two markets.

Forte Partners have inaugurated the first phase of The Bridge office project located in the Grozavesti-Basarab area in Bucharest. The first building offers 36,871 sqm of leasable space. Its tenants include IBM and BCR. The first phase of the project was financed by UniCredit Bank. Bog’Art was the main construction contractor.

Auchan Retail Romania, a subsidiary of Auchan, has acquired OK, a supermarket chain which has three units in the Bucharest area, zf.ro reports.

Chapman Taylor reported that construction on Expo Business Park in Bucharest is underway. The 70,586 sqm development comprises three separate and self-contained office buildings set over a shared two-level basement parking structure.

Ikea has started the construction of its second store in Romania, which will be finished in H2 2018 following an investment of approximately €86 million, which includes the acquisition of the land.

Real estate developer London Partners is to invest €26 million in SoHo Unirii residential project in Central Bucharest, which will have a total of 236 apartments. Construction works started this summer and completion is scheduled for Q1 2019.