River Development moves all projects under Sema umbrella

Business Forum

11 September, 2024 at 10:52 AM

Romanian investor and developer River Development has announced its rebranding as Sema Real Estate, with all current and new projects to be reunited under this umbrella.

At the same time, the developer has announced plans for its first residential project that will include mixed functions. The residential complex will be in the southern part of Bucharest-based Sema Parc and its construction is expected to start in Q1 2024.

”The keyword SEMA is already recognized for our flagship project, Sema Parc, one of the most significant mixed-use developments in Bucharest, that includes office buildings, commercial spaces, and a residential area. The rebranding emphasizes the legacy and importance of this project to the company's identity and its role in shaping its future developments with professionalism and enthusiasm,” says Oana Rădulea, Managing Partner of Sema Real Estate.

Sema's portfolio comprises two major reconversion projects in the central-western part of Bucharest.

Bucharest office market sees lower demand over tech slowdown

Total demand for office leasing in Bucharest dropped by 25% to 236,000 sqm in Q3 compared to the same period of 2023, while new demand fell 11% to 82,000 sqm in the same interval due to the slowdown of the IT&C sector, according to a Colliers report. 

Real estate

Evo Properties rolls out first reconversion project in Bucharest

Evo Properties has announced the reconversion of the London and Oslo office buildings in Bucharest into a multifunctional hub. 

Real estate

Homing Properties to develop 140 villas near Bucharest

Homing Properties will invest €35 million in the construction of 140 villas in Pipera, near Bucharest. 

Real estate

iO Partners adds proptech service to its portfolio

iO Partners, a JLL Preferred Partner, has teamed up with Bright Spaces proptech to provide its clients with a 3D space planning tool. 

Real estate

Renewals drive office leasing in Bucharest during H1 2024

Contract renewals accounted for approximately 50% of office transactions in Bucharest during H1 2024, while the total demand fell to around 160,000 sqm, according to a Colliers report. 

Real estate

Over 28,500 apartments under development in localities near Bucharest

The ongoing residential developments in areas near Bucharest count around 28,500 apartments, with Voluntari town and Tunari commune among the locations with the biggest volume of new construction, according to a report by Imobiliare.ro. 

Real estate

Office leasing in Bucharest falls during H1 2024

The volume of office leasing in Bucharest amounted to 168,000 sqm during H1 2024, down 11% compared to the same period of last year, with the average new lease deal at more than 1,100 sqm, according to Cushman & Wakefield Echinox. 