Bucharest's short-term rental industry is expected to outperform the previous year's level and has already recorded estimated revenues close to €24 million in H1 2024, according to a Crosspoint Real Estate report.
Austria remains the most expensive country, with €4,920/sqm in 2023, followed by Germany (€4,700/sqm), France €(4,538/sqm).
Romanian developer One United Properties says its volume of sold and pre-sold residential units, parking spaces and commercial spaces amounted to around €123.8 million during H1 2024. This result is up by 2.5% compared to the same period of last year.
Hili Properties, the real estate arm of Hili Ventures, has successfully secured the remaining 25% shareholding of the company which owns the MIRO office building in northern Bucharest.
Roxana Frățilă, Partner, Head of Real Estate & Construction at CMS, spoke to Property Forum about the key deals closed in the retail market in 2023 and accelerating investment in renewable energy.
iO Partners has provided development management services for a 126 MW solar farm in Văcărești locality, Dâmbovița County.
Romania's Government has signed in mid-July a memorandum of understanding with US tech giant Google as the country is looking to boost its cloud infrastructure for public services.
Romanian developer One United Properties has started the construction of One Technology District, which will host the largest R&D centre of Infineon Technologies in Southeast Europe.
STC Partners will start a new residential project in Bucharest after completing the acquisition of a land plot for €7.2 million.
CBRE Romania has purchased the franchise for a job fair that will be launched for the first time in Bucharest under the “night of companies” concept.
Romanian developer One United Properties has announced that construction has kicked off at Mondrian Hotel in Bucharest, with completion expected in 2026.
Monia Dobrescu, Partner at Mușat & Asociații, spoke to Property Forum about the growing role of ESG criteria in bank financing of real estate projects and the prospects for investment in the local market in 2024.
The largest transaction closed in Q2 2024 was related to a 20,900 sq. m pre - lease by VAT Group within VGP Park Arad.
Romanian developer Eden Capital aims to deliver by H2 2026 a new high-end residential complex in northern Bucharest with an estimated value of €130 million.
Industrial developer VGP is expanding a building in VGP Park Brașov by 13,813 sqm, with 20% of the new space already leased.
The leasing volume of industrial and logistics spaces in Romania amounted to 410,500 sqm during H1 2024, down by 25% versus the same period of last year, with close to half of the total take-up recorded in Bucharest region, according to a Cushman & Wakefield Echinox report.
InteRo Property Development, owned by the Canadian Topolinski investors family, has kicked off the construction of a new mixed-use project in Bucharest with a valuation of €1 billion.
In the first half of the year, companies in Bucharest leased 84% of the total volume of modern office space traded in the country.
The office leasing volume closed in H1 2024 grew by 0.2% compared to the same period of last year, with Bucharest seeing the biggest activity, followed by Cluj-Napoca and Timișoara, according to a report by Fortim Trusted Advisors.
The purpose of the increase for One Cotroceni Park Office Phase 1 and Phase 2 is to reimburse shareholder loans and cover other costs.
The three acquired entities own a portfolio of assets comprising three warehouse projects of 136,374 sqm and a large plot of land in Constanta.
GTC, a premier commercial real estate company in Central and Eastern Europe, presents an analysis of its notable achievements in Poland during the first half of 2024.
The Italian restaurant Sciccheria, the coffee shop Steam, gelateria Velocita, and French Revolution have leased a total of 375 sqm of retail space.
The transaction allows WDP's Romanian footprint to grow to around 2 million sqm in gross leasable area.
The total balance mortgage balance in payment increased almost fourfold in the last 16 years, from €5.7 billions in 2008 to €21.7 billion today.
Beyond those already listed, a major challenge is that 54% of IT executives expect budget cuts, while 10% of respondents anticipate an increase in spending on innovation.
New data shows Primark's decarbonisation programme is beginning to decouple from its growth, with a 1.9% reduction in carbon emissions since 2019.
EY Global Climate Action Barometer shows just 41% of businesses have plans in place to manage climate risks; world's biggest emitters are the worst offenders.
Fitch has also upgraded GBR's Viability Rating (VR) to 'bb' from 'bb-' and Shareholder Support Rating (SSR) to 'bb-' from 'b-'.