ARTICLES LABELLED WITH TAG Romania

NEPI Rockcastle published its results for 2017. The total value of direct property portfolio owned and managed by NEPI Rockcastle exceeded €5 billion (including joint-ventures). Acquisitions and developments finalised during 2017 totalled €947 million, with 339,800 sqm GLA added.

Cushman & Wakefield Echinox assisted property transactions in Romania totalling over €300 million in 2017, accounting for 30% of the total local property investment volume of nearly €1 billion. The deals included projects such as Chitila Logistic Park, the Radisson Blu complex in Bucharest and two properties sold by REWE.

2017 was a great year for the CEE property market and the scene is set for 2018 to be even better. However, there are always risks to be wary of. Andreas Ridder, Chairman CEE at CBRE revealed Property Forum his expectations for the CEE investment market in 2018.

Romanian developer One United Properties plans to launch a residential project (One Mircea Eliade) with 250 apartments and the construction of a 24,000 sqm office building (One Tower) next to Bucharest’s Floreasca Lake, on the site of the former Automatica site.

AFI Europe Romania has received the building permit that allows for construction works to begin on AFI City, the first residential project developed by the company in Romania. The building process has been divided into phases, the first one being scheduled to begin in the next 2 months.

The supply of new Class A office space delivered in Bucharest in 2017 was absorbed almost entirely by demand, as per a report by CBRE regarding the office market in 2017, which also says 90% of the office space area completed in 2017 has already been leased.

Each new office leasing contract signed in Bucharest last year created at least 130 new jobs. Dimitrie Pompeiu and South sub-markets made the top, with more than 200 new jobs per transaction, according to the latest JLL market report.

CTP and DSV, the fifth biggest global transport and logistics companies, signed a leasing agreement for approximately 40,000 sqm in CTPark Bucharest West. CTP invested about €12 million in the development of the new logistics spaces occupied by the Danish company in the first days of February.

Skanska’s commercial development unit in CEE has announced the appointment of Aurelia Luca as Managing Director for Skanska Property Romania. She will also become a permanent member of Skanska CEE’s commercial development unit Management Team with immediate effect.

By the end of last year, the office portfolio of the Iulius Company reached a total of 121,000 sqm leasable area following the opening of the second office building within Openville Timişoara, a project developed together with Atterbury Europe in the vicinity of Iulius Mall.