Real estate | 16 October, 2024 at 11:50 AM
Speedwell kicks off last phase of resi project in Bucharest
Speedwell has started the construction of the last building of its Triama Residence project in Bucharest.
Speedwell has started the construction of the last building of its Triama Residence project in Bucharest.
Total demand for office leasing in Bucharest dropped by 25% to 236,000 sqm in Q3 compared to the same period of 2023, while new demand fell 11% to 82,000 sqm in the same interval due to the slowdown of the IT&C sector, according to a Colliers report.
The year 2024 will mark three consecutive quarters without any new modern office completions, the longest period without deliveries since 2005.
Hils Development, the real estate group owned by Romanian entrepreneur Ionuț Negoiță, has purchased two land plots spanning 12 ha in western Bucharest.
Shoe retailer Deichmann has leased 20,000 sqm in the industrial project ELI Park Bucharest, in a move designed to consolidate its regional distribution operations.
RRG Real Estate Group (RRG) says it will invest €60 million in a Bucharest residential project that will be delivered at the end of 2026.
Romanian developer Alsin Management said it will invest €20 million in the second phase of its residential project First Estates Pipera, with the completion date set for the spring of 2025.
Evo Properties has announced the reconversion of the London and Oslo office buildings in Bucharest into a multifunctional hub.
Homing Properties will invest €35 million in the construction of 140 villas in Pipera, near Bucharest.
Bucharest, often referred to as "Little Paris," has been one of the fastest-growing cities in the European Union over the past two decades.
Contract renewals accounted for approximately 50% of office transactions in Bucharest during H1 2024, while the total demand fell to around 160,000 sqm, according to a Colliers report.
In Pipera, an area of significant interest for villa buyers, the price of land has risen from €400/sqm in 2022 to €1,000/sqm in 2024.
Romanian investor and developer River Development has announced its rebranding as Sema Real Estate, with all current and new projects to be reunited under this umbrella.
The ongoing residential developments in areas near Bucharest count around 28,500 apartments, with Voluntari town and Tunari commune among the locations with the biggest volume of new construction, according to a report by Imobiliare.ro.
Leading architecture firms from Great Britain and Romania played a key role in bringing the Café Athénée project to life, blending international expertise with local flair.
The volume of office leasing in Bucharest amounted to 168,000 sqm during H1 2024, down 11% compared to the same period of last year, with the average new lease deal at more than 1,100 sqm, according to Cushman & Wakefield Echinox.
With this strategic investment, the company reduces its CO2 emissions by 150 tons annually.
The Romanian unit of Strabag has been selected as generator contractor for the construction of a new office building for PPF Real Estate in Bucharest.
Romanian developer Genesis Property has obtained the BREEAM International In-Use certification, Outstanding, for Building F in its Bucharest-based Yunity Park business campus.
Industrial developer CTP has launched its first CTBox building in Romania on the premises of CTPark Bucharest West.
Romania's annual inflation rate climbed unexpectedly to 5.5% in May, up from 4.9% in April, driven primarily by increases in food and services prices.
Travel tech company FlixBus is adding new international coach connections from Romania to Greece and bolstering existing routes to Bulgaria.
EDP, through its subsidiary EDP Renewables, has opened its largest solar park in Romania, located in Albina, taking its total solar and wind capacities in the country to 570 MW.
The German tech company cbs purchased the SAP division of Romanian company SkyConsult, marking its entry into the local market.
Romanian tech company Metaminds, which supplies digitalization services for both the private sectors, named Ovidiu Ghiman as its new CEO, replacing Andrei Cruceru.