ARTICLES LABELLED WITH TAG Romania

French AEW Europe and Hungarian Indotek Group have concluded an agreement regarding the acquisition of the Promenada shopping centre in Târgu Mureș, Romania. The 50,000 sqm building’s tenants include Auchan, Leroy Merlin, Decathlon, H&M, Cinema City, LC Waikiki, New Yorker, Hervis and Media Galaxy. Indotek Group plans to renovate and modernize the whole building and plans further acquisitions to strengthen its presence on the Romanian commercial real estate market.

Cordia is now increasing its capital exports and foreign investments. In addition to the Romanian and Polish market, the company also has presence in Spain with a pilot project. All of this fits into Cordia’s strategy to become a dominant property developer at European level, while maintaining Hungary's key role in the company’s operation.

The One Cotroceni Park project, developed by One United Properties in Bucharest on a 5.8 hectares land plot, will give a new dimension to the Work - Live - Shop concept on the local market, offering a 15,000 square meters retail area, comparable to that of a medium-sized shopping centre, to the future employees and residents who will live within the project.

P3 has signed new leasing contracts with two companies in Romania, Coca-Cola HBC Romania and Mobexpert. The total space leased by the two companies in P3 Bucharest A1 park is of 5,000 sqm.

According to the latest RICS Commercial Property Monitor, CEE countries – most notably the Czech Republic, Hungary and Romania – are still global leaders in occupier and investment sentiment. The Central European region’s most mature market, Austria is on a different path, however, with respondents reporting a broadly flat outlook.

Labour shortage and rising costs in construction are problems developers in CEE have had to learn to live with over the past years. Dr. Zoltán Nádasdy MRICS, Partner, Head of CEE Real Estate Investments Group at Noerr talked to Property Forum about the legal challenges investors and developers face on the Hungarian, Romanian and Polish markets.

CBRE has been mandated by CA Immo to provide property management services for the Campus 6.1 office building, located in the central-western area of Bucharest, being the first time when CA Immo outsources property management services for a project in its portfolio.

JLL is entering the residential market in Romania by launching the Living department within the Bucharest office. The new department, which will provide consulting services for the residential sector, will be led by Andreea Hamza as Senior Director.

CBRE expanded its Romanian management team by recruiting Gijs Klomp as Head of Investment Properties for CBRE Romania. Gijs has over 17 years of experience in real estate and was involved in investment transactions worth more than €2.00 billion.

Companies Iulius and Atterbury Europe have opened the Iulius Town mixed-use project in Timișoara, the largest investment in the region, adding up to a total of €442 million. Iulius Town entailed integrating Iulius Mall Timișoara into an extensive urban regeneration project, completing it with retail, office and entertainment uses.