ARTICLES LABELLED WITH TAG Romania

Revetas Capital has sold Vitantis Shopping Center in Bucharest, with a leasable area of around 50,000 sqm, to Praktiker Real Estate, owned by businessman Omer Susli, for an undisclosed sum, according to economedia.ro. 

Romanian developer Global Vision will invest €70 million in Bucharest Airport Park near Otopeni Airport. The first development phase of the new logistics project will kick off this year and the first warehouse could have a leasable area up to 10,000 sqm, depending on demand, said Sorin Preda, Global Vision’s CEO, according to zf.ro.

Polish developer Scallier has secured a building permit for a new retail park with a leasable area of 9,975 sqm in Vaslui, Eastern Romania.

Prima Development Group has announced the completion of the Core Timpuri Noi residential project in Bucharest following an investment of €23 million.

Developer Alesonor has kicked off the construction of the first villas in Amber Forest suburb located near Bucharest.

Investment transactions on the Romanian real estate market could exceed the €1 billion threshold this year, considering the projects in various stages of negotiation, according to Colliers.  At present, there are several transactions in the pipeline worth at least €100 million each, and others are ready to go on the market

Financial companies were the most active in the Bucharest office lease market during 2021, according to a report by real estate consultancy Cushman & Wakefield Echinox.

Romanian developer Eden Capital Development, which focuses on the Bucharest residential market, recorded total sales of over €90 million during 2021, at an average transaction of over €120,000 for an apartment.

Real estate consultancy RE/MAX Romania brokered property deals worth more than €300 million in 2021 and almost doubled its commission income to €10.5 million. 

Art Property, the developer of the €20 million Art City residential complex in Bucharest, is looking to expand its presence in the property management field and appointed a new management team to implement the operational plans.