Business Forum
| 23 August, 2024 at 10:36 AM
Deloitte Romania assists AFI Europe in Bucharest Financial Plaza building acquisition
The transaction has an estimated value of approximately €27 million and was recently signed.
The transaction has an estimated value of approximately €27 million and was recently signed.
The European Bank for Reconstruction and Development (EBRD) has announced a €10 million equity investment in Romanian retail chain La Cocoș. Additional equity funding will be provided by CEECAT Capital and Morphosis Capital to support the retailer's development plans.
Property Forum's annual SEE Property Forum Award Ceremony will take place during SEE Property Forum on 22 October 2024. The list of award categories is already available and nominations are now open until September 16th. Property Forum's Country Manager for Romania Fulvia Meirosu and CEO Csanád Csürös answered all potential questions related to the nomination process and explained how the winners will be selected.
In the first half of the year, Impact generated revenues of RON 98 million, up 65% compared to the first half of last year.
Bucharest's hotel market is set to expand by around 2,400 rooms by 2026, outpacing the estimated growth from other CEE-based capital cities, according to a Cushman & Wakefield report.
The retail and residential players have been the most active buyers of land during H1 2024, while speculative transactions are also gaining ground, according to Colliers Romania research.
Retail developers maintain intense activity nationwide, focusing both on developing retail parks and on standalone stores operated by major retailers.
Romanian law firm PeliPartners has assisted Immofinanz in the sale of myhive Victoriei to AFI Europe, in a deal worth an estimated €27 million.
Known as the first modern office building in Bucharest, myhive Victoriei was acquired by Immofinanz AG in 2021, with PeliPartners also acting as legal advisor for the buyer.
Sales of homes funded by bank loans rose by 40% during H1 2024 compared to the same period of last year over the reduction of interest rates and the increase in transaction prices, according to transactions brokered by RE/MAX Romania.
The construction of the Bellemonde project will benefit from a total investment of over €40 million.
The current workforce landscape has been significantly influenced by recent challenges, leading to a shift in how employees perceive their well-being. This highlights the importance for employers to prioritize their employees' health and happiness, actively supporting them and fostering a workplace culture that values holistic well-being, writes Cătălin Năstăsoiu of Genesis Property.
Reduced bank interest rates and banks' offers for this product are among the drivers of this trend.
AFI Europe has purchased the myhive Victoriei building in central Bucharest from Immofinanz for around €27 million. The new owner plans to turn the existing office building into a mixed-use project, with the conversion permit already secured.
Romanian developer Bellemonde Developement has obtained €21 million in funding from Libra Internet Bank for a residential project in Pipera, near Bucharest.
Adrian Pop, General Manager of ADP Green Building, spoke with Property Forum about the role of financial institutions in increasing the sustainability of real estate projects and the growing demand for certifications from international real estate investors.
Copeland plans to hire across several areas including Application Engineering, Electronics Engineering, Oracle and IT Support, Business Analysis, Sales & Operations and Logistics.
Bogdan Nicoară, CEO of Bright Spaces, talked to Property Forum about the startup's plan to operate in eight markets by year-end and the diversification of its digitalisation platform for real estate companies. He also mentions some of the main trends shaping the proptech industry.
Romanian developer HILS Development has announced a 28% increase in residential sales during H1 2024 compared to the same period of last year, while revenue was up 25% year-on-year.
Lagoon Park Bucharest is the first artificial urban beach in Romania, built on an area of 40,000 square meters in the northern part of the capital.
Bucharest's Mayor Nicușor Dan has announced that he will be tasked with issuing traffic permits for new Urban Zoning Plans (PUZ), Urban Developing Plans (PUD) and construction authorizations.
Lavinia Ioniță Rasmussen, Partner at NNDKP's Real Estate practice, spoke with Property Forum about the acceleration of commercial and residential development in regional cities and the potential of the local market to offer higher returns for property investors compared to other countries in the region.
Bucharest's short-term rental market had a booming post-pandemic evolution. In 2023 alone, the industry generated revenues of €41.3 million, nearly double compared to 2019.
The first stage of the share capital increase will start on August 19th and will last for 32 calendar days, until September 19th.
Romaero and Marshall have announced a strategic partnership focusing on the maintenance and modernization of the Romanian Air Force's (RoAF) C-130 Hercules aircraft fleet.
Patria Bank announced that its majority shareholder, EEAF Financial Services, holding 84% of the bank's total shares, is exploring strategic options for its investment.
Digi Communications has announced a significant corporate restructuring of its affiliated companies in Belgium.
The Romanian Competition Council is currently reviewing the acquisition of three energy companies by the Romanian company Energy Distribution Services.
Delgaz Grid, the energy distribution company part of German E.ON Group, has launched Delia, an AI-powered virtual assistant.