The land market remained very active in the first half of 2023, reaching an estimated turnover of around 250 million euro. This volume includes only transactions involving land for commercial real estate projects in sectors such as residential, office, retail, without segments such as industrial or energy, reveals Colliers in its market report on the evolution of the real estate market in the first semester of this year.
REAL ESTATE NEWS FROM COMPANIES Vastint Romania is expanding its IT hub in Business Garden Bucharest
01 September 2023
romaniainsider
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Vastint Romania announces the expansion of its tenant portfolio within its office project, Business Garden Bucharest, through a new partnership signed with Reconomy, the leading provider of technology services supporting the circular economy. They will occupy an area of 1,162 sqm, one floor of building C.
Office rents in Bucharest increased by up to 15.8% in the last 12 months (June 2023 vs. June 2022), with the prime headline rent in the CBD area (Piata Victoriei – Aviatorilor)reaching €22.00/ sq. m/ month, an increase which also translated to other submarkets, according to data from Cushman & Wakefield Echinox.
The real estate developer, Primavera Development, specialized in bold and architecturally distinct real estate projects, is starting the construction of a new phase of the residential project Green Lake, located in the 1st district of Bucharest, with an estimated investment of approximately 30 million euros
MetaWealth, the leading fractional real estate investment platform, launched a $100,000 giveaway for its investors who buy a piece of the Cosmopolis and New Confort City residential property package in Bucharest. The initiative, designed to democratize real estate investing, is a continuation of MetaWealth's mission to help people build a better financial future for themselves.
One United Properties (BVB: ONE), the leading Romanian green developer of residential, mixed-use and office real estate, posts a consolidated turnover of 171 million euros in H1 2023, a 26% increase compared to H1 2022.
Colliers Romania manages over 680,000 square meters of real estate in Bucharest, Cluj-Napoca, Timisoara, Brasov, and Arad, of which 590,000 square meters are offices and the rest industrial warehouses, providing asset management and administration services for annual budgets of over 26 million euro. In regional cities, Colliers consultants are seeing increasing numbers of developers and owners choosing to optimize building management and maintenance costs by outsourcing such services.
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