The Center – West area (Politehnica, Orhideea, Cotroceni) has become the largest office submarket in capital city Bucharest, outranking for the first time the Floreasca – Barbu Vacarescu area following the delivery of projects in the first quarter of 2023, as per data from real estate consulting firm Cushman & Wakefield Echinox.
Premier Palace & Spa Hotel in Bucharest, held by Premier Palace, insolvent since 2019, has been put up for sale for EUR6.9 million, court appointed trustee Euro Insol announced.
Luxury watch retailer EraVault has opened its first store in Bucharest, in a EUR250,000 investment.
In the first quarter of this year, the number of apartments sold nationwide was 23% lower than in the same period of last year. In Bucharest, 22% fewer apartments were traded.
Real estate developer One United Properties will invest around EUR6 million to build two private schools in the area of Tei and Plumbuita lakes in Bucharest’s district 2.
Holcim Romania, the biggest building materials manufacturer locally by turnover, has leased a 2,282-sqm space in the B-office building of Oregon Park, a green certified project built in Pipera, Bucharest, and owned by Lion’s Head Investments.
Adnana Popa, cofounder and CEO of homemade gelato shop chain Velocità, plans to strengthen its foothold in Bucharest and open another two shops.
Bucharest’s four-star hotel Capital Plaza, controlled by Romanian entrepreneurs, in 2022 generated EUR2.5 million turnover and expects 12% growth in 2023, according to its officials.
Real estate developer Speedwell will invest EUR500 million in a mixed-use project on the 9-hectare former industrial site of Griro, on Calea Grivitei in Bucharest, the company said.
Around 19,000 houses and apartments are likely to be delivered in 2023 in Bucharest and neighboring areas, down by 11% from last year, in line with a market report published by real estate consultancy SVN Romania.
Vodafone, one of the largest players on Romania’s telecom market, has opened, in Magheru boulevard of Bucharest, its first store under the EasyTech concept, which proposes to clients more gadgets and an interactive retail experience, as part of the company’s strategy of repositioning itself on the market as a tech company.
The number of housing units sold in Bucharest last year rose by 11% in 2022 from 2021, but the falling affordability and the restrictive interest rates whetted Romanians’ appetite for rents, reveals a Colliers survey.
One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use and commercial real estate in Bucharest, Romania, has acquired a 44,863-sqm land plot located at Soseaua Progresului 56-80, in district 5, Bucharest, for EUR35 million, for a new mixed-use development, One Cotroceni Towers.
Bucharest’s Royal Hospital, founded by gynecologist doctor Ioan Stoian, ended 2022 with EUR5 million turnover and for in 2023 aims for 15-20% growth.
One United Properties (ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, has obtained the construction license for One Lake District, a large-scale 2,076-apartment sustainable housing development located on the banks of Bucharest’s Plumbuita lake.
The two Fashion House outlet centers in Bucharest’s Militari and Pallady areas had total sales of over EUR40 million in 2022, seeing increases of 34% and 19%, respectively, as per data provided by the company to Ziarul Financiar daily.
Electrocentrale Bucuresti SA (ELCEN), Bucharest’s main heat supplier, has announced the Bucharest Tribunal decided to close insolvency proceedings and reintroduce ELCEN in the economic circuit.
Egis, the French engineering multinational Group, signed a lease agreement for 1,100 square meters of office space within the America House office building in Bucharest, held by U.S. investor Morgan Stanley.
Law firm Wolf Theiss advised property developer SPEEDWELL on its first industrial project, located in the north-west of Bucharest.
Bucharest’s four-star hotel Cismigiu, one of the monument buildings of the city, controlled by Spain’s Hercesa, ended 2022 with EUR1.5 million turnover and for 2023 has budgeted EUR1.7 million, a level close to the 2019 one.