The first quarter of 2024 ended with real estate investments in Romania totalling 202 million euros, up 69 percent compared to the first three months of 2023, with transactions in the retail segment accounting for around two-thirds of the volume, according to a Colliers report. Compared to the other five major economies (Bulgaria, Czech Republic, Hungary, Poland and Slovakia) in Central and Eastern Europe (CEE), Romania was the best performer in a context where market activity in the region was soft and transaction volumes reached one of the lowest levels in a decade.
Vastint Romania announces the commencement of the second phase of its real estate project, Timpuri Noi Square, a significant urban regeneration project for the Timpuri Noi area, thus marking a important moment in the real estate industry in Bucharest.
The Romanian investment market recorded transactions of around 476 million euros last year, down by more than half over 2022’s cycle high of 1.25 billion euros, according to the 2023 Annual Report released by Colliers.
Cascade Group, a foreign-capital family office which has been operating in Romania for over two decades, said it is launching a new investment division which will offer 40 million euro ($43.4 million) in financing to local entrepreneurs as well as small and midsize investors operating in real estate and other industries in the next five years.
2023 was a challenging year for the real estate investment market. According to an analysis by Crosspoint Real Estate, Romania attracted investments worth around EUR 500 million, 60% less than the previous year.
Macroeconomic uncertainty, consumption contraction, interest rates and also inflation are the main factors which may impact the Romanian real estate market, according to the real estate investors and developers who responded to the second edition of the Cushman & Wakefield Echinox “Real Estate Investors Sentiment Barometer”.
Edelstein Group has started the development of a new residential complex in Cluj-Napoca that will be completed in three phases following an investment of €60 million.
The future of work is in a continuous transformation, and one of the vectors of this change is the startup Nooka Space, which today officially announces the appointment of Irina Leca as CEO of the company, as well as the raising of a new investment round worth €2 million. This initiative is also supported by existing investors and partners, with the objective of continuing international expansion and developing Nooka Space’s operations in new markets and verticals, including Portugal, Italy and aviation verticals. The investment is nearing completion and is currently in the final stage of selecting relevant investors.
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