The real estate market professionals in Central Europe returned to the level of optimism registered before the pandemic. Almost 40% of them expect an improvement in the general economic climate this year, 46% have positive expectations regarding real estate activity, and 48% rely on increasing the volume of transactions, according to the Deloitte Real Estate Confidence Survey for Central Europe 2021, conducted in the first quarter of this year in four countries in the region – Romania, Poland, the Czech Republic and Hungary. At the same time, 58% of the respondents expect the availability of investment products to increase in countries where they operate.
One United Properties S.A., one of the leading green developers of residential, mixed-use and office real estate in Bucharest, Romania, has successfully completed the Initial Public Offering (IPO) for sale of shares as the largest issue in the last four years on the Bucharest Stock Exchange.
Catinvest has obtained the necessary construction permit to start work on a new extension of Electroputere Mall. Starting in July, with a total investment estimated at 6 million euros, Catinvest will develop an expansion of the space allocated to restaurants in Electroputere Mall, adding 5 new restaurants, 3 of which will have private outdoor terraces, a new common terrace in open air that can be shared by restaurant customers and an additional 5,500 square meters of retail space.
Skanska, the largest developer of office buildings in Europe, inaugurates the first rooftop runway in Romania. The runway is 280 meters long and it’s located on the roof of the Campus 6.2 and 6.3 buildings in Bucharest.
The relaxation of the restrictions brought into question the return to the office of the employees, who in the last year have moved their activity at home or in the space that offered them the most comfort and safety. The pandemic period was one that accelerated the adaptability of employees, but also the way companies operate.
GTC Romania welcomes a new tenant - the retail group Millennium Pro Design, which operates under the Best Value brand, will move its headquarters in Romania to the City Gate building. The company will occupy over 1,600 m2 within the South Tower of the office complex in Bucharest. The move of Best Value to the City Gate building will take place by the end of the third quarter of 2021.
After selling the office buildings 6.2 & 6.3 in Campus 6 for 97 million euros, Skanska now transfers them to the new owner, S IMMO AG. The transaction that took place in December 2020 marked the beginning of the partnership between Skanska and the Austrian real estate company and is Skanska's largest transaction on the Romanian market so far.
Globalworth, the leading office investor in Central and Eastern Europe and the office market leader in Romania, launches the OFFICE RENAISSANCE campaign, to further promote the return of tenants back to their office space.
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