Revenues in Romania's luxury goods market are projected to reach EUR 535.82 million in 2024, with online sales contributing a significant 13.8 percent to this amount, shows a specialist survey by CBRE Romania released on Tuesday.According to the cited source, the demand for luxury goods is on the rise, driven by the upward trend in the population's standard of living.Also, CBRE announced that it will be the exclusive agent for the leasing strategy of H Stirbei Palace, an iconic historical monument located in the heart of Bucharest and one of the most anticipated retail projects in Romania's capital city. Thus, after the completion of renovation works, the Stirbei Palace is intended to become a landmark shopping gallery for Southeast European luxury brands."The Romanian luxury retail market in on the rise, and Bucharest is becoming an increasingly attractive destination for premium brands. This trend is fueled by the development of prestigious real estate projects, including 13 new five-star hotels planned until 2028, which will operate under brands such as Corinthia, Mondrian, Hyatt and Kempinski. According to a market report by CBRE Romania, an increase in prime rents for street locations was recorded in Q1 2024, which reflects the dynamism of this segment," mentions the cited source.CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company based in Dallas, is the world's largest commercial real estate investment and services firm, according to 2022 revenues.
Jaqueline Cristian is the first Romanian player to qualify for the second round of the 2025 Australian Open. She claimed a hard-fought victory against Croatia's Petra Martic in the first round on January 13, winning in three sets 6-2, 4-6, 7-6 (10/7). Monday's match lasted two hours and 35 minutes, according to
Romanian authorities in the seaside town of Costinești, on the Black Sea coast, have commissioned the widening of the beach to about 100 meters in width and 2.7 kilometers in length, with new breakwaters to protect against storms. In total, five breakwaters will help the resort deal with tides, currents, and waves. Moreover, after the […]
The Consulate General of Romania in Los Angeles, western United States, will resume activity after authorities stated that the area is safe from further fires. Despite the return to normal, new evacuation warnings are not ruled out if the situation requires it, according to Romanian officials. Large-scale wildfires raged through the famous city, burning down large […]
Low-cost carrier Wizz Air announced a new international route connecting Romania’s Cluj-Napoca to Castellón, Spain. Tickets are available on the airline’s website and mobile app, with fares starting at EUR 19.99 (RON 99). The new route will begin operations on April 11, 2025, with flights scheduled on Mondays and Fridays. Starting June 16, flights will […]
Bucharest's National Arena brought in roughly EUR 1.2 million in revenue in 2024, hosting a total of 43 events, mayor Nicușor Dan announced. The events hosted by the capital city's main arena last year included 28 domestic and international football matches, as well as three major concerts featuring globally renowned artists such as Coldplay and Ed […]
Several tens of thousands of people, according to AUR estimates as many as 100,000, participated on January 12 in a rally in Bucharest organized by the nationalist party Alliance for the Union of Romanians (AUR) against the annulment of the result of the first round of the presidential elections. It was the second rally after […]
