ARTICLES LABELLED WITH TAG Romania

Bright Spaces, the Romanian proptech startup, has launched its first international subsidiary in London, as part of its scale up strategy. 

There is currently over 46 million sqm of industrial space in the CEE region, of which one-fifth is in the Czech Republic and the largest part – more than a half – in Poland. There is more than 900 sqm of industrial space per thousand inhabitants in the country. Just 1.6% of the space in Czechia is currently vacant. A record-breaking 1,112,000 sqm is currently under development in the Czech Republic – the highest figure in history. Demand on the part of logistics, distribution and e-commerce companies is growing. Cushman & Wakefield has analysed the trends in the industrial property sector in five Central European countries (Czech Republic, Hungary, Poland, Romania and Slovakia) in 2021.

Ensana hotel group has announced an investment of €9 million in revamping the 4-star Sovata hotel with 168 rooms. 

Property investments in Romania could exceed €1 billion in 2022 given the high level of activity seen at the start of the year, according to a report by Colliers. Just a few office transactions in advanced stages likely to close this year will total over €600 million.

Over 27,000 new homes are under construction in Bucharest and its surrounding areas, which is the largest number in the modern history of the local residential market, according to real estate consultancy SVN Romania. 

Property developer P3 Logistics Parks has completed a new accommodation building spanning 2,000 sqm for the staff employed in the P3 Bucharest A1 logistics park near Bucharest. 

InteRo Property Development, owned by the Canadian Topolinski investors family, will the start the construction of its first premium residential project and a villas complex with a combined value of €54 million. 

The used cars platform operator Spotawheel has leased over 800 sqm of office space and an additional 11,000 sqm showroom outdoor space in the Sema Parc - Paris building, which is developed by River Development.

Asking prices for apartments in Romania were up by 3.8% in March compared to the previous month to an average €1,654 per sqm, according to data by Imobiliare.ro platform. 

Real estate investment company S Immo AG has purchased the Expo Business Park office project in Bucharest from Portland Trust for an undisclosed sum.