ARTICLES LABELLED WITH TAG Romania

The volume of industrial and logistics projects slated for delivery in Romania this year will reach at least 510,000 sqm, compared with 875,000 sqm in 2022, according to data from JLL Romania. 

Romanian proptech company BrightSpaces has appointed Mike Hapoianu as MENA Regional Manager as part of the firm’s expansion strategy. 

Romanian developer Pedro Construct has completed a new office building spanning 9,500 sqm in Bucharest following an investment of around €18 million.  

New demand in Bucharest's office market (new leases, pre-leases and relocations from non-competitive stock) had a share of 57% or 185,000 sqm of the total office take-up in 2022. Demand itself was up 10% year-on-year, according to a study by real estate consultancy Cushman & Wakefield Echinox. 

Currently, more than 80% of employers in Romania have less than half of their employees in the office on a normal working day, according to a survey conducted by Colliers among 75 companies whose headcount ranges from several dozen to hundreds of employees. 

Property developer Nusco Imobiliara has appointed Sorin Dumitrașcu as Development Director, tasked with overseeing the company’s development operations for all its projects. 

Real estate group Globalworth has received 47 ESG-related certifications for its Romanian portfolio during 2022. One of the highlights in terms of sustainability was the scoring achieved at Globalworth Square, which got a BREEAM Outstanding accreditation, with a 99% scoring.

Rent prices for apartments in major Romanian cities rose on average by 8.7% in 2022 over higher demand, according to property platform Imobiliare.ro. 

Real estate investment volumes in CEE reached almost €10.7 billion during 2022, up 6.6% compared to the previous year, with Poland accounting for 54% of all transactions, trailed by the Czech Republic and Romania with shares of 14% and 12%, respectively, according to a report by Cushman & Wakefield Echinox. 

The office market in Bucharest could start to see a mode generalized increase in rents due to a limited volume of deliveries slated for 2023 and a limited vacancy rate for modern buildings, predict experts of Colliers.