ARTICLES LABELLED WITH TAG Romania

Local real estate developer Redport Capital, founded by Cosmin Savu-Cristescu, has announced the completion of 127 apartments in The Level Apartments project and the construction start for the new phase of the complex located in the Străulești area of northern Bucharest. 

The demand for office development or refurbishment projects remains high as more companies are looking for quality workspaces, according to CBRE data.

Emma Toma, Head of Office Division at AFI Europe Romania, talked to Property Forum about the company’s investment plans in the office, retail and residential areas, as well as the solutions implemented in all projects in the area of sustainability.

Adrian Pop, General Manager of ADP green building, talked to Property Forum about the demand for sustainability assessments of buildings and the company’s expansion into the ESG services segment, which is increasingly requested by real estate companies. In 2022 alone, the company completed 108 BREEAM certifications, more than double the previous year, for commercial projects across Romania.

The housing loan stock is now growing by only 1.2% in Romania, with the slowdown becoming noticeable starting with the second half of last year, while the number of apartment transactions fell by almost 30% in Bucharest and regional cities in the first five months of the year, according to Colliers. 

Romanian lender Banca Transilvania has leased 10,000 sqm of office space in Green Court A, the building in northern Bucharest owned by Globalworth.

Andrzej Wronski, Group Head of Asset Management for P3 Logistic Parks, will be taking over the role of Managing Director for P3 Romania starting July 2023. He is replacing Sînziana Pardhan, who decided to step down after six years of running P3 operations in the country. 

Industrial developer Logicor has expanded the e-commerce warehouse space in Bucharest I Logistics Park Mogosoaia for pharmacy chain Dr.Max to around 16,000 sqm.  

The relocation of production facilities from far-away locations, such as Asia, is generating additional demand for industrial and logistics projects in CEE-based markets, with Romania being among the biggest beneficiaries, according to a Cushman & Wakefield report. 

Monia Dobrescu, Partner at Mușat & Asociații, spoke to Property Forum about real estate companies’ growing interest in alternative financing options and Romania’s tax framework for real estate investments.