Property developer Plaza Centers is seeking €262.2 million in damages from the Romanian state, alleging that it recorded massive losses from the Casa Radio project in Bucharest. The company filed a complaint with the International Centre for Settlement of Investment Disputes (ICSID) in Washington. 

Hotel group Real Estate&Constructii, controlled by David Fattal, has completed the acquisition of Golden Tulip Victoria hotel in Bucharest, according to rhn.ro. 

The vacancy rate in Bucharest’s office market remained flat at 16.5% in the first quarter of 2022, similar to last year, although there is a growing gap between Class A projects and older buildings in areas with lower demand, according to real estate consultancy Colliers. 

Romanian developer Nordis Group has added Daniel Penciuc (left in picture) and Florin Poștoacă as shareholders, each with stakes of 5% in Nordis Management. Following the move, the group’s number of shareholders rose to six. 

Square 7 Properties, the country partner for Romania of Mitiska REIM, has purchased a land plot of 30,000 sqm in Mediaș for an undisclosed sum. 

Financial company SIF Banat Crișana has purchased a land plot in Bucharest that hosted an industrial platform for Interagro, a company that is currently under administration, according to Economica.net. 

Romanian developer Țiriac Imobiliare has officially opened its new office project in central Bucharest, located near Victoriei Square. 

Supply chain operator HAVI says it will obtain a reduction of carbon emissions by 7,000 tonnes over its 10-year lease in Chitila Logistics Hub, where it has been present for six months. 

Romanian IMPACT Developer & Contractor has recorded a gross profit of 16.7 million lei (€3.3 million) in the first quarter of 2022, up 49% compared to the same period of last year over higher residential sales. 

Remote working has changed people's perception of their workplace and increased their need for facilities and experiences tailored to their dynamic lifestyle. New trends and design concepts show that offices of the future will be reshaped into campuses that will encompass facilities for the working and urban living trends of the future in a unique space, Gavin Bonner, Vice President of Genesis Property, writes for Property Forum in an opinion piece.