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.
Romanians are worse off now compared to 6 months ago, and 2026 will also be difficult, but from 2027 and then on, there is hope, said president Nicusor Dan during an interview with Romania TV. The government targets a deficit of 8.4% of GDP this year, marginally below 8.65% of GDP in 2024. To tackle […]
Imran Vilcassim, Chief Commercial Officer, Digital Platforms at BPC, explores how Romania’s booming digital payments outpace merchant readiness and why mobile POS is emerging as the practical solution. Romania’s digital payments volumes are rising fast, but merchant infrastructure isn’t keeping up. Independent market models estimate total digital payments will reach nearly
The attributes needed to reach the top of the business hierarchy, how to motivate and support the teams one works with, and how to tackle the unavoidable challenges that arise along the way were among the topics discussed at the event Inspiring Women in Business, organized by La French Tech Bucharest. Making it to a […]
More than half of the elderly people in urban areas in Romania face loneliness, and almost 310,000 of them experience it at a high level, according to a study conducted by the Association Never Alone, Friends of the Elderly, in partnership with Kantar Romania. The study, carried out in August 2025 on a representative sample […]
Square 7, part of retail park investor M Core, officially inaugurated its new Bucharest office last week, marking an important milestone for the company. More than 150 guests joined the event, including partners, collaborators, and team members. M Core is a family of property investment and management companies comprising LCP, Sheet Anchor, Proudreed, and Sheet […]
Real estate developer Hagag Europe Development has expanded its Romanian operations into the energy sector with the acquisition of BTD Distribuție și Furnizare, a local company specializing in natural gas infrastructure, distribution, and supply. The company has opened a new local division - Hagag Energy - and announced plans to invest more than EUR 400 […]
