STRABAG Romania is proud to announce that it has been selected by the developer and investor PPF Real Estate as the general contractor for the construction of its new state-of-the-art office building, "The ARC". This new landmark development will bring a modern ten-story Class A office building to the 6th District of Bucharest, setting new standards for office spaces in the area.
The Zonal Urban Plan for the conversion of the former Carbochim industrial platform and the restructuring of the 1 Mai Square area was recently approved by the Cluj-Napoca Local Council. The investment of the IULIUS & Atterbury Europe companies, estimated at over half a billion euros, represents an effort to capitalize on an industrial area and transform it into a pole of urban attractiveness with multiple functions - the largest retail area in Romania (120,000 rentable square meters) , office, culture and new entertainment concepts – , whose anchor will be a large urban garden with access to the Someș river.
The number of commercial properties acquired by Romanian investors is by far the highest in the top ten. 12 properties were acquired between the beginning of the year and the end of August 2024, with prices ranging from EUR 1.4 million to EUR 44.7 million. The Iride office complex in the Pipera district of Bucharest is the most significant acquisition this year by a Romanian investor, Alin Niculae, shows the latest FORTIM Study.
One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the start of construction works for One Technology District, a project that will host the largest semiconductor R&D centre in the Southeast Europe, operated by German giant Infineon Technologies, a Frankfurt Stock Exchange-listed company and a global leader in semiconductors. One United Properties has obtained the building permit and can begin the construction of the turn-key office building, which integrates cutting-edge energy-efficient technologies.
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.
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