ARTICLES LABELLED WITH TAG Timisoara

Sapient Vest, a company controlled by Slovakia’s Slovunit AS, is planning to develop a logistics park in Timișoara. Sagului Logistic Center will spread over 400,000 sqm on Calea Sagului, economica.net reports.

Globalworth signed a lease with DS Smith for its second logistics park in Timisoara, a project belonging to Globalworth Industrial, its industrial and logistics sub-brand. DS Smith decided to relocate its Service Center operations from Timisoara, renting more than 6,000 sqm at the park. Following this new collaboration, the occupancy rate in all completed industrial projects under the Globalworth umbrella reached 100%.  

The industrial property market in the western and north-western areas of Romania is growing rapidly, after the stock has doubled in just four years, becoming the second-largest market after Bucharest. Stock is expected to exceed 700,000 sqm this year, according to CBRE data. The company recently advised the lease of a total area of about 18,000 sqm of industrial space within the Timisoara Industrial Park II project, which thus became fully occupied.

Alpha Bank Romania has sold a 60,000 sqm plot of land in Timișoara to German retail chain Lidl and two other investors. The Romanian bank previously planned to develop a shopping centre there, Ziarul Financiar reported.

Real estate developer Mulberry Development, controlled by businessman Ovidiu Șandor, has obtained the building permit for the Radisson Blu hotel in Timișoara. The 160-room hotel will be completed in 2021. The hotel will be operated by the Radisson Hotel Group.

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.

On the 30th of August 2019, Iulius and Atterbury Europe will open the first phase of the Iulius Town Timişoara project (formerly known as Openville), the largest real estate investment in the region, adding up to more than €220 million. This is the first mixed-use development in the west of Romania.

United Business Center 2 (UBC 2) in Timișoara was awarded a LEED Gold certification. UBC 2 adds up to 18,000 sqm leasable area and was opened in early 2017. The building is a part of the Openville Timișoara mixed-use project currently developed by Iulius and Atterbury Europe in the vicinity of Iulius Mall.

Romanian developer Wallberg has secured a €5.8 million loan from Garanti Bank to finance the development of the XCity Towers project in Timisoara. XCity Towers it will be built in several stages, with a total of 955 apartments in 8 buildings. The total value of the project will exceed €62 million, of which the first stage will amount to €36 million.

CIT Group, a Romanian retailer specialised in IT equipment, has acquired the Nokia building in Timișoara for €6.2 million which marks the company’s entry into the real estate business. The property will be managed by CIT’s Imobiliare division.