ARTICLES LABELLED WITH TAG Romania

In 2020, Globalworth’s Net Operating Income increased by 6.5% to €157.3 million, despite the negative effect (-2.3%) of the COVID-19 pandemic. The company announced its unaudited financial results for 2020.

Nordis Group, a real estate developer specialized in the construction of luxury real estate, announces the launch of a new exclusive complex, consisting of a hotel and residential apartments, located in Brașov.

VGP announces the acquisition of a new land plot in a prime location near Bucharest and the start of the development of its new multi-tenant business park VGP Park Bucharest. Law firm Kinstellar advised VGP Parks on the acquisition.

Prima Development Group announces the completion of the Boemia Apartments project, whose construction started in 2019 in Bucharest. 

The first year of the pandemic brought many lessons for all entrepreneurs and business executives. With plans and expectations upside down, many companies have had to adapt to new realities, regardless of the field. One of the big winners of the crisis was retail park operators that now plan heavy expansion in the coming years. Property Forum takes a look at Romania’s retail park pipeline.

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.

Polish company Scallier has announced that 70% of available space has been leased in its first retail park under the Funshop Park brand in Romania.

Romania Sotheby’s International Realty announced revenue growth of 127% in 2020. Sotheby’s International Realty entered the Romanian market in July 2020 through the association with Artmark Historical Estate, a company founded in 2014 and which belonged to the Artmark group.

Cordia Romania, part of Futureal Group, announced the sale of 20% of the apartments in the second phase of the Parcului20 project in Bucharest.

Internationally expanding Hungarian company Indotek Group is looking at new investment opportunities on the Romanian market. Florin Tirla, Country Head Romania & Bulgaria at Indotek Group talked to Property Forum about the company’s plans and shared his expectations for the future of the office and retail markets.