DEALS
-The number of real estate deals in Romania stood at 51,067 last month, 5,954 fewer than in July and 8,358 fewer than in August 2023, data from the national cadaster agency ANCPI showed on Tuesday (Sept 10, 2024).
-In H1 2024, real estate transactions in Romania increased two and a half times compared to the same period in 2023, to EUR 419 million, a Colliers report has found. Amid a favorable outlook, the figure is expected to hit the EUR 1 billion mark by the end of this year.
OFFICE
In H1 2024, leasing activity was strong in Bucharest, with 168,000 sq. m being transacted in the capital city, thus marking a decrease of only 11% compared with the same period a year ago. The net demand accounted for 82,100 sq. m, an area which could accommodate around 8,000 employees. The average new lease transaction size was of more than 1,100 sq. m. data provided by Cushman & Wakefield Echinox showed.
RETAIL
Vertically-integrated real estate developer, investor and operator Prime Kapital and commercial property investor and operator MAS PLC which have an ongoing partnership for developing real estate properties in Romania, are preparing three new malls in the country in the cities of Bacau, Cluj-Napoca and Bucharest, according to an Economica.net report.
HOSPITALITY
-France-based Accor hospitality group announced the opening of Swissôtel Poiana Brașov introducing the Swissôtel brand to Romania for the first time. Swissôtel Poiana Brașov is the first 5-star hotel in Poiana Brașov, Romania’s most popular ski resort and leisure & MICE destination in the country. The property marks an exciting new venture for Accor and Swissôtel, in collaboration with Norrma, a renowned local real estate developer.
-Pavăl Holding, owned by Romanian Pavăl brothers (founders of DIY chain Dedeman), and Lithuanian hospitality group Apex Alliance, have jointly purchased Waldhaus Flims Wellness Resort in the Swiss Alps. The reopening of the 5-star hotel complex is planned for next year following a refurbishment. This is the Holding’s second high-profile international investment, after acquiring the historic Grand Hotel Gardone, in Italy, in 2023.
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