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.
The Arts Hour on Tour, the BBC World Service arts and culture program that visits cities all over the world, will be in Bucharest next week to record a show on topics relating to the cultural life in the city and Romania. Television and radio broadcaster Nikki Bedi, who curates, writes, and presents the program, […]
Romanian prime minister Marcel Ciolacu recently stated during an interview that foreign minister Emil Hureaznu will be replaced if he continues to send messages to private individuals, such as those addressed to Elon Musk, without consulting him. The warning comes after Emil Hurezeanu stated on Saturday, February 22, that Elon Musk’s support for Călin Georgescu […]
Romanian state-controlled gas producer Romgaz (BVB: SNG) reported a net profit of RON 3.22 bln (EUR 647 mln) in 2024, up 14.5% compared with the previous year. The company’s revenues went down by 11.9% to RON 7.93 bln (EUR 1.6 bln) because of lower...
The Romanian Parliament rejected the no-confidence motion initiated by far-right parties AUR, SOS Romania, and POT against the government led by Social Democrat prime minister Marcel Ciolacu. The motion received 147 votes in favor and one against during the lawmakers' meeting on Friday, February 28 - a figure lower than the 155 signatures with which […]
Nuclearelectrica (BVB: SNN), the company that operates Romania’s only nuclear power plant – Cernavoda, reported a net profit of RON 1.7 bln (EUR 343 mln) in 2024, down 31% compared with the previous year. The company recorded 37.6% lower revenues from electricity sales due to lower average...
In his first press conference since becoming interim president, held on Friday, February 28, Ilie Bolojan said that discussing peacekeeping troops in Ukraine is premature, since no peace agreement was reached. He also discussed increasing Romania’s defense spending, the relationship with the United States, and the reconstruction of Ukraine. The press conference was organised after Ilie […]
