Real estate developer Park Properties has purchased a 15,000 sqm land plot on the shores of Lake Snagov, near Bucharest, for a luxury villa residential development.
In addition to SunLake Snagov, the developer is also working on SunLake Residence, SunLake Homes and SunLake Pipera projects.
Logicor also owns an 8.2-hectare plot next to the Arabesque materials warehouse in eastern Bucharest.
The retail and residential players have been the most active buyers of land during H1 2024, while speculative transactions are also gaining ground, according to Colliers Romania research.
The transaction allows WDP's Romanian footprint to grow to around 2 million sqm in gross leasable area.
Lower discount rates make their future cash flows more attractive, leading to higher valuations.
The Agreement's key priority is the expansion of the existing exploration and production cooperation and the application of MOL technology in Kazakhstan.
AI boom could further threaten 2050 decarbonization commitments unless used responsibly and scaled to its full potential as a lever of achieving net zero.
The project covers an area of 8,500 m2 of land and has approximately 47,000 m2 built, including the underground, and each of the three buildings has a height of S+P+10E+Duplex.
Project will be co-financed from an EU program run by the Romanian Ministry of Energy.