ARTICLES LABELLED WITH TAG Romania

Ceetrus Romania is investing €10 million in the expansion of its shopping mall in Satu Mare, Romania. The new commercial space will be completed in Q3 2019, the company said in a press release.

Cordia Romania, the residential division of Hungary’s Futureal Group, plans to invest €50 million in new projects million next year. The company aims to deliver about 500 apartments per year on the Bucharest residential market, designed for the medium and medium-high segments.

The areas in northern Bucharest, such as Stefanestii de Jos and Chitila, have the potential to form a new logistics hub, according to Colliers International. Over 180,000 sqm of logistics space is to be delivered next year, as the West of the capital has become loaded in terms of the development of industrial and logistic spaces.

Forte Partners plans to invest €25 million in the development of a new office building in the centre of Bucharest. The property will offer 8,400 sqm of leasable space.

The Central and Eastern European (CEE) hospitality market is showing a positive evolution, with all the performance indicators higher than in the previous year. Between 2013 and 2017, Bucharest stands out with an average increase of overnight stays of 10.1% per year, the highest in the region, according to Cushman & Wakefield’s latest report.

The National Bank of Romania (NBR) reintroduced limits for the maximum indebtedness levels for individuals or families seeking out consumer or mortgage loans. These debt service-to-income (DSTI) ratios will become 40% for RON loans and 20% for hard currency starting in 2019. As per Colliers International Romania’s estimates, for the residential market, the impact in terms of prices will be uneven, geared more towards the low and medium-low segments of the residential market.

pbb Deutsche Pfandbriefbank has provided a credit facility of €43 million to Revetas Capital Fund III for the acquisition of the newly built office complex called The Landmark, in Bucharest, Romania. It is envisaged that an affiliate of Cerberus Capital Management will join Revetas in this transaction. pbb acted as arranger and sole lender under the facility.

Ikea has postponed the opening of its €80 million second store in Bucharest for next year. The opening of the store in Eastern Bucharest was initially scheduled for the end of this summer.

NEPI Rockcastle announced that it will open Shopping City Satu Mare, its 18th shopping centre in Romania, on 6 December. The two-storey shopping centre will offer 29,000 sqm of leasable space, following an investment of over €40 million.

Plaza Centers N.V. has signed a pre-agreement for the sale of a land plot in Miercurea Ciuc, Romania for €1.55 million.