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Articles - real estate developments

NEPI received the construction permit for EUR 37 million office project near Government

South-Africa’s investment fund NEPI, which reached a real estate portfolio of approx. 1 billion Euros on the local market, has received last week the construction permit for the development of an office building near Government headquarters in downtown Bucharest, a project involving an investment of approx. EUR 37 million.

EUR 5 mln to be invested in converting Bucharest historical building into retail and office center

FF Group Romania, the former Elmec Romania, has signed a EUR 4 million loan agreement with the local branch of Turkish Garanti Bank to finance the reconversion of a Bucharest historical building into a 5,000 sqm retail and office center, the bank announced today. The entire investment in the project will amount to EUR 5 million.

Residential and commercial demand for pavers is returning, says Symmetrica Romania

Although the market for pavers continues to be mainly fuelled by public and infrastructure projects, the beginning of the year has seen a “slight increase” of demand for pavers coming from residential and commercial projects, said today representatives of Romanian pavers and vibropressed borders manufacturer Symmetrica.

IKEA has the construction permit for Timpuri Noi project

Interprime Properties, the real estate division of IKEA group in Romania, has the construction permit for the project on the platform if the former Timpuri Noi factory in Bucharest.

Florescu, The Advisers: Răzoare Underground will sustain the office development in the area

Horaţiu Florescu, the president of the real estate consultancy company The Advisers Knight Frank and one of the most experienced brokers on the office market, is betting on the development of the area Politehnică - Răzoare - Trafic Greu as a business destination, considering the transactions signed in the last years as well as the underground Drumul Taberei - Eroilor which will enable the access to the area from other districts of the city.

JLL: Politehnica-Orhideea area has potential for the development of 150,000 sq. m offices

There is development potential in the central-western Bucharest (Politehnica-Orhideea) for approx. 150,000 sq. m office spaces, considering over 12 ha are available in this area, according to Attila Peli, the head of the land and development department within JLL.

GTC’s new owners want to start or buy new projects in Romania, target office developments

Improving the results of the shopping centers it owns in Romania is the short term objective of Polish real estate developer Globe Trade Center (GTC) after it was taken over by Lone Star Funds, but the company is also looking at starting or buying projects in incipient phases, especially in the office segment, announced GTC representatives.

EUR 200 mln urban development plan for Bucharest’s downtown to be presented this week

Bucharest’s chief architect, Gheorghe Patrascu, will present an integrated urban development plan for downtown Bucharest worth EUR 200 million on June 3 during LAUD, the first event dedicated to urban public spaces and green spaces to be held in Romania.

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