It’s the weekend of the St Nicholas celebration, but also of one for bookworms as one of Bucharest’s two major book fairs is on. Meanwhile, more season markets and events bring a festive atmosphere. ...
The overall investment volume in the Romanian real estate market was 566,9 million euros in the first 6 months of 2022, two times more than in the same period of 2021, of which 476.9 million euros in the last three months, according to a study made by Fortim Trusted Advisors company, a member of BNP Paribas Real Estate Alliance. As a comparison, real estate transactions of 194 million euros were conducted in the first two quarters of 2021. The retail field attracted most investments in 2022 – 249.7 million euros. They included commercial center Cora of Cluj Napoca and the whole Value Center portfolio which includes retail parks DN 1 Value Center near Bucharest and Dambovita Mall, Targoviste and other commercial areas in Zalau, Ploiesti, Sfantu Gheorghe and Barlad. The office segment ranks second in the top of investments, with transactions of 220.3 million euros. “Present investors are mostly specialised companies such as S Immo, Hagag, Indotek, MAS RE, Arcona Property Fund. 69% of the total value invested in real estate in this period came from REIT type companies (Real Estate Investment Trust), which own, operate or finance real estate shares that produce incomes. The largest amount paid for a single real estate stock in Romania in 2022 was for Expo Business Park office project in Bucharest. This amount might be exceeded until the end of the year by a new office project,” said Nicolae Ciobanu, managing partner Head of Advisory Fortim Trusted Advisors, a member of BNP Paribas Real Estate Alliance. The office buildings sold this year include Expo Business Park, One Victoriei Center, Baneasa Business Center and Record Park Offices.The industrial field ranks third as investment value with 54.4 million euros in two transactions.The hotel field ranks 4th, five big transactions being made in the last three months, with a total of 38.9 million euros. In quarter 2, 2022, two modern office buildings were commissioned – AFI Tech Phase 2, with an area of 25,000 sq.m and Arghezi 21, with 5,700 sq.m. The modern stock of office areas amounts to a total of 4.077,955 sq.m, at the beginning of July 2022, according to Fortim Trusted Advisors. A single office building, One Cotroceni Phase 2, with a total area of 28,841 sq.m will be completed until the end of the year. The announcement of Timpuri Noi Square project of 50,000 sq.m, brings a change in pipeline, of the new area stock, the commissioning being estimated in 2025. Fortim Trusted Advisors, a member of BNP Paribas Real Estate Alliance in Romania, is a real estate consulting company set up in 2002, which has been controlled by Costin Nistor, Bogdan Cange and Nicolae Ciobanu since 2020. The company offers real estate consulting services for the office, retail, industrial & logistics, evaluations, capital markets, research segments and property management services. In the Property Management area the company administers over 115,000 sq.m of offices, retail and industrial areas. Some of the most important recurrent customers of Fortim Trusted Advisors are Morgan Stanley, Add Value Management, Indotek, Kesz and First Property Asset Management. In the office segment, the company dealt with transactions for Reckit Benkiser, Renault, Fortech, Grohe, Credius, OLX Group, Multinode Network, AHI Carrier, AVL, UMT Software, Future Electronics, The Home and Bioderma.
It’s the weekend of the St Nicholas celebration, but also of one for bookworms as one of Bucharest’s two major book fairs is on. Meanwhile, more season markets and events bring a festive atmosphere. ...
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]