The strategic priority of the company in a process of consolidation on the local market after the takeover of the Immofinanz and S-IMMO companies is to constantly invest in the development and modernization of its properties to offer improved work and shopping experiences and to attract new tenants.
Since the beginning of this year, CPI Romania has signed rental contracts for 41,500 sqm, both new contracts and extensions of existing contracts, after closing the first semester with a share representing 20% of the total leasing activity recorded at market level . CPI Romania currently owns office buildings with a total area of 340,000 sqm, representing 10% of the modern stock of office projects in Bucharest.
Among the new tenants or those whose leases have been extended are the companies SAP Romania and Salveo Romania (in the myhive S-Park building), DB Engineering & Consulting GmbH Berlin and Samsung Electronics Romania (in myhive Metroffice), Deichmann (in myhive Victoria Park), Regina Maria (Băneasa Airport Tower), LPP and the Irish Embassy (in The Mark building).
Recently, the transaction was successfully completed whereby the myhive Victoriei building, located in the Immofinanz portfolio, was taken over by AFI Europe, a step that is part of the optimization process of CPI Romania's office portfolio.
Fulga Dinu, CPI Romania Country Manager: "CPI Property Group is consolidating its operations in Romania, after the integration of the Immofinanz and S-IMMO portfolios. The very good results from the beginning of 2024 until now reflect the value of the portfolio, the quality of the services we offer to our tenants and our ongoing concern to increase the relevance of spaces for tenants and enrich the working experience of employees in our office buildings.In the retail area, we maintained an occupancy rate of 98% by investing in modernization and updating the tenant mix, and we signed new partnerships with well-known international retail brands, desired by the public. We continue to reinvent ourselves to meet the newest demands of the communities we have created around our shopping centers.”
CPI Romania is one of the largest players in the office segment, with a portfolio that includes five myhive buildings (S-Park, Victoria Park, Metroffice, IRIDE 19 and IRIDE 20), IRIDE Business Park, Băneasa Airport Tower, Pipera 1, Pipera 2, Global Business Center, The Mark, Expo Business Center, Sun Offices, Campus 6.2 and 6.3.
98% occupancy rate of retail properties and focus on communities
Regarding the retail segment, CPI Romania managed to maintain, this year, the average degree of occupancy of the entire portfolio at 98%, by investing in the modernization of shopping centers, attracting and integrating new internationally renowned brands, diversifying services, alignment with ESG policy and the diversity of events appreciated by the communities created around these projects.
One of the most important development projects of CPI Romania at the national level was signed in February with the international fashion retailer Primark, which will open next year, in VIVO! Cluj-Napoca, the fourth store in Romania. The shopping center is being fitted out to offer Primark a retail area of 5,000 sqm, the commercial space will occupy 3,700 sqm divided over two floors.
CPI Romania owns the Sun Plaza shopping center in Bucharest, the shopping centers VIVO! in Cluj-Napoca, Constanța, Pitesti and Baia Mare, the Felicia shopping center in Iasi and the Stop Shop retail park in Botoșani, totaling 270,000 sqm. The building in which the Novotel hotel operates on Calea Victoriei is also owned by the company.
CPI Property Group is one of the largest real estate owners in Europe. With a property portfolio whose value exceeds 21 billion euros, CPIPG owns premium office properties in the main capitals of Central and Eastern Europe: Prague, Berlin, Vienna, Bucharest and Budapest. The group also owns retail properties in Central and Eastern Europe (the VIVO! brand is part of the retail portfolio), as well as hotels, residential units and land.
