ARTICLES LABELLED WITH TAG Bucharest

Orbis Hotel Group, the strategic partner of AccorHotels, has signed a management contract for a new ibis Styles hotel in the city centre of Bucharest.

CBRE advised coworking operator Spaces on leasing 4,100 sqm of office space in Expo Business Park, located in the Expoziției area of Bucharest. The leasing contract exceeds the market average length of five years.

CEC Bank and Veranda Mall have signed two financing agreements totalling €34 million, aiming to refinance the development of the project and finance the expansion and modernisation of the shopping centre. Both funding rounds were provided in the form of investment credits for a period of 15 years.

Belgian real estate developer Didier Balcaen is investing €15 million in a residential project called Triama Residence in the National Arena neighbourhood of Bucharest, profit.ro reports.

Companies in Bucharest that operate in modern office buildings have monthly occupancy costs ranging between €175 and €500 per employee, according to an analysis by Cushman & Wakefield Echinox.

Fosta Fabrica, the restoration and conversion project of the former Grivita brewery in Bucharest, received all necessary permits and it is expected to be completed in 2020 by Lithuanian developer Hanner Group.

A record volume of boutique office space will be delivered in Bucharest by the end of this year, according to ESOP Romania’s press release.

Belgian logistics property developer Warehouses de Pauw (WDP) plans to invest €75 million in four properties on three different sites in Romania by the end of 2019.

The former Stock Exchange Palace, a historic heritage building located in the centre of Bucharest, has entered into a full process of commercial redevelopment.

Land in Bucharest continued to attract the interest of real estate developers this year, considering that in the first nine months of 2018, lots with a cumulated surface of over 60 hectares on which around 8,000 dwellings, 180,000 square meters of offices as well as commercial spaces can be developed, according to an analysis of Cushman & Wakefield Echinox.