ARTICLES LABELLED WITH TAG Romania

Property developer Speedwell has leased 630 sqm in its own Miro office building, which it developed in northern Bucharest. 

Property investor Globalworth has purchased a small business units logistics project previously developed by CATTED in Chitila, near Bucharest. Furthermore, the two companies will acquire a land plot of around 45,000 sqm in Ștefănești for a new logistics investment.

Class A offices in Bucharest have some of the cheapest rents compared to other large European cities with strong business centres, according to a report by BNP Paribas Real Estate Alliance members. 

Romania's commercial property market has remained liquid throughout the pandemic period, with total investment volumes reaching €1.83 billion over the 2020-2021 period, up 8.7% versus 2018-2019, according to a report by real estate consultancy Cushman & Wakefield Echinox.

Czech investor PPF Real Estate has purchased a construction site land with a building permit in Bucharest, for the development of a new office building named ARC from property developer RC Europe. The project is due for completion in 2024 following an estimated investment of €60 million. 

The rising prices of raw materials and ongoing supply problems result in a more challenging environment for construction, but at the same time, strong demand from developers and a focus on ESG and technology create a good opportunity for growth. Attila Beer, Country Manager of Alukönigstahl Romania talked to Property Forum about the trends driving Romania’s construction sector.

Industrial developer CTP Romania has appointed Răzvan Danciu as Head of Property Management for its portfolio comprising 2.1 million sqm. 

Property group Prime Kapital has secured a green club loan of €125 million for its development joint-venture with listed property investor MAS plc. 

Globalworth’s net profit in 2021 significantly improved to €47.5 million (2020: net loss of €46.8 million) while it recorded its best year in office leasing with 214,500 sqm of spaces taken up or extended. The company has released its annual report and audited consolidated financial results for 2021.

Austrian property investor Immofinanz has opened its first coworking space in Bucharest, under the mycowork brand, the flexible office component of myhive.