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.
Raiffeisen Bank Romania supports Dăruiește Viață with 1 million euro to start the construction of the medical campus at Marie Curie so that all patients treated at this hospital in Bucharest can benefit from the same treatment conditions at the best standards. ”We believe in change and impactful action, which is why year after year […]
The net result was RON 78.12 million on March 31, 2024, representing 81% of the budgeted level for the entirety of 2024. The total value of assets under management was RON 3.2 billion, an increase of 32.1% compared to March 31, 2023. The net asset value was RON 2.88 billion, an increase of 32.3% compared […]
The Praid Salt Mine, in central Romania, is temporarily halting both its extraction and visitation activities due to water infiltrating into the underground from a nearby stream, following recent heavy rainfall. This decision aims to protect and ensure the safety of staff and visitors until the situation caused by the recent infiltrations is resolved, the […]
Several sites in Romania have been added to the country's tentative list for UNESCO World Heritage, culture minister Raluca Turcan announced. The list includes the Peleș and Pelișor castles in Sinaia, former communist prisons, the Three Holy Hierarchs church in Iaşi and the Assumption of Virgin Mary cathedral at Curtea de Argeş, and the Movile […]
Romania's president Klaus Iohannis and prime minister Marcel Ciolacu reacted to the attack on Slovakia's PM Robert Fico, who was shot several times on Wednesday, May 15. The Romanian officials condemned the incident and said they were shocked by the news. "Appalled to learn about the shooting of the Slovak prime minister Robert Fico. I […]
Bibiana Stanciulov, the owner of the company that produces Magiunul de Topoloveni (a registered traditional plum jam), one of the most famous Romanian food brands, sued Metro retailer for refusing to accept paying a higher price and eventually delisting her products, according to
