OFFICE
-Bucharest office space occupancy costs grew by around 10% in the past two years amid the rising building operational costs and the indexing of rents against inflation, according to data provided by real estate consultancy Cushman & Wakefield Echinox.
-EVO Properties announced the first project on the Bucharest real estate market, which aims to turn the Class A+ office buildings, London and Oslo, into a multifunctional hub, following an investment of EUR10 million.
BUSINESS PARK
Alfa Group, through Iride Development company, has acquired from CPI Romania the largest part of the IRIDE Park project, the related logistics and two nearby buildings, for potential developments subsequently, according to a deal sealed on Oct. 1 by the two parts.
RETAIL
-Nepi Rockcastle, the largest owner, developer and manager of shopping centers in Central and Eastern Europe and the largest shopping mall owner in Romania, has acquired the 100,000 sqm Magnolia Park shopping centre in Wrocław, Poland from Union Investment in an off-market transaction. The sale price amounts to EUR 373 mln.
-Unirea Shopping Center, the company that manages two shopping centers in Bucharest and Brasov, reported net profit of RON737,386 for the first half of 2024, compared with loss of RON3.6 million in the year-earlier period, according to its half-yearly financial report published at the Bucharest Stock Exchange.
-Spanish group Inditex’s fashion brand Zara has closed its store within the Bucuresti Mall shopping center after almost 15 years.
CONSTRUCTION
A total of 3,360 residential building permits were issued in Romania in August 2024, 3.6% fewer than in July 2024 and 7.9% more than in August 2023, data from the National Institute of Statistics showed.
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