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Colliers to coordinate WELL certifications for buildings 2 and 3 of the Campus office project
18 October 2018 • Real estateFind here more information about WELL Certifications! Following the success of green certifications, real estate projects are entering a new stage of evolution, focusing on the human factor present in buildings. Skanska is a pioneer in this respect, being the first developer to introduce the WELL Building standard in Romania with the latest project, which ensures a healthy interaction of the employees with the space they work in.
Hanner’s Fosta Fabrica mixed-used real estate project obtains all permits, will be completed in 2020
3 October 2018 • Real estateFosta Fabrica, Hanner’s restoration and conversion project of the former Grivita brewery, also known as the Luther Beer Factory, received all necessary permits and it is expected to be completed in 2020. The project runs on an area of over one hectare and includes four monuments to be restored and converted, as well as two new buildings. Fosta Fabrica is a mixed-use development that includes over 6,000 sqm of co-working and shared office space, 187 new apartments, 31 lofts, restaurants, bakery, in-situ brewery and restaurants, cocktail bar, cafes, commercial and event spaces, landscaping and parking.
Apartment building burns down in Bucharest, developer didn’t have building permit
9 September 2018 • Real estateAn apartment building in Bucharest’s District 5 burned down on Friday night leaving 54 families homeless. None of the residents was injured, but one of the firefighters who intervened needed to be taken to the hospital. The building had been finalized in 2013 but it had no building permit and the families living in it had no ownership contract. Instead, each family had a promissory contract signed with the developer, according to Mediafa
Residential developer plans EUR 50 mln investments in Romania
1 November 2018 • Real estateCordia Romania, the residential investment division of Futureal Group, has a EUR 50 million investment plan for the next year on the local market, part of a long-term development roadmap. “Romania will play a key role in the development of Cordia’s operations at regional level”, said Mauricio Mesa Gomez, CEO Cordia Romania and Member of the Board Cordia.
Merchant's House, vestiges dating back to the 14th century
5 November 2018 • Real estateThe Merchant’s House on Turnului street in Sibiu has its beginning in the fourteenth century. It has been accurately dated by specialists after the remains of a Gothic sprocket found in the attic of the house. Located in one of the most picturesque areas of the old town, in the "Lower Town", in a historic square, the building is part of the small circle of urban residences, built between the 1300s and the 1400s. In comparison, the oldest house in Bucharest, the Melik House – currently Theodor Pallady Museum, has a history of only 250 years.
Onix Park delivers the first 600 homes in 2019 following an investment of 32 million euros
22 November 2018 • Real estateOnix Park delivers the first 600 homes in 2019 following an investment of 32 million euros The first 600 apartments in Onix Park North Area Residence, the largest residential complex in construction in the Aviatiei area – Pipera Road, will be delivered in 2019, following an investment of 32 million euros, both in the construction of homes of facilities.
Romanian investors launch EUR 10 mln apartment project in Mogosoaia forest
27 November 2018 • Real estateRomanian investors launch EUR 10 mln apartment project in Mogosoaia forest Ecovillas, a real estate developer controlled by Romanian investors, will invest EUR 10 million in a residential project in the Mogosoaia forest, North of Bucharest. The project, called LOFT Green Apartments, will have a total of 154 apartments with one, two and three rooms and a 3,000 sqm-park.
Real estate developer Speedwell starts construction on Record Park in Cluj-Napoca, an EUR 42 mil. investment
26 November 2018 • Real estateReal estate developer Speedwell starts construction on Record Park in Cluj-Napoca, an EUR 42 mil. investment Real estate developer Speedwell has started the construction works for Record Park, the first mixed-use development and urban regeneration project in Cluj-Napoca. The development process will involve an investment of EUR 42 million, and the entire project is due in the second quarter of 2020.
19032018 Coldwell Banker: Residential developers in Bucharest and its surroundings invest EUR 750 M in new houses
19 March 2018 • Real estateColdwell Banker: Residential developers in Bucharest and its surroundings invest EUR 750 M in new houses 2018 has all the ingredients to be the most prolific year of the local residential market in its modern history. This year, the residential market will reach the highest level of maturity so far, according to the latest ’Residential Market Beat 2018’ report released by Coldwell Banker Romania. If, in 2015, almost 17 percent of the residential projects developed in Bucharest and its surroundings targeted the middle market, about 37 percent of the new offer developed in 2017 was for the same segment, according to Coldwell Banker Romania.
ROMANIAN REAL ESTATE MARKET REPORT Q3 2018
1 November 2018 • Real estateROMANIAN REAL ESTATE MARKET REPORT Q3 2018 By http://www.analizeimobiliare.ro/reports/ Access first hand information about the dynamics of the Romanian real estate market. Every quarter, we analyse the most important indicators on the Romanian real estate market in order to help investors better plan their businesses in Romania or real estate professionals be up to date with the latest market trends.
The Three Classes of Office Buildings
3 December 2018 • Real estateThe Three Classes of Office Buildings Not all office buildings are created equal – which is why a general classification system exists to categorize them by age, amenities, aesthetics, and general infrastructure. Commercial real estate brokers use these classes to prepare market data and justify the cost of leases within the building.
Expat of the day: Romania’s Greek “office king” makes EUR 2.6 mln a year
3 September 2015 • Real estateExpat of the day: Romania’s Greek “office king” makes EUR 2.6 mln a year Greek Ioannis Papalekas, one of the most powerful real estate investors in Romania, made over EUR 2.6 million last year as CEO of Globalworth, a real estate investment firm that is listed on London Stock Exchange’s AIM market, according to the company’s annual report. Most of this sum represents bonuses related to the company’s results in 2014, which Papalekas received in cash and shares.
How much does it cost to demolish Bucharest’s most controversial office building?
29 April 2015 • Real estateHow much does it cost to demolish Bucharest’s most controversial office building? Bucharest local authorities would have to pay EUR 100 million to demolish the controversial office building Cathedral Plaza, according to Greek investor Ioannis Papalekas, the building’s current owner. A Romanian court ruled in 2013 that the Bucharest City Hall should demolish the building, which is located in one of the city’s central areas. The reason was that the developers allegedly didn’t have a valid construction permit.
One United Properties received the building permit for One Herastrau Towers
22 October 2018 • Real estateOne United Properties received the building permit for One Herastrau Towers One United Properties, a real estate developer for exclusive residential and office buildings in Bucharest, founded by Andrei Diaconescu and Victor Capitanu, has been granted the building permit for One Herastrau Towers. The company has already begun preparations for the construction of a mixed set of housing, office and trade units. Located on the site of an abandoned building that has already been demolished by One United Properties, One Herastrau Towers will have a contemporary contemporary design with high-quality finishes, plus the benefits of green buildings.
Futureal Group exits retail project ParkLake and powers ahead in the real estate market of Bucharest through Cordia
26 November 2018 • Real estateFutureal Group exits retail project ParkLake and powers ahead in the real estate market of Bucharest through Cordia Futureal Group announces an exit worth 19 million euros from the retail project ParkLake, developed by Sonnae Siera and Caelum Development. Futureal participated in the development of ParkLake by financing Caelum Development, the latter controlling 50% of the shopping center. Futureal Group will intensify its activity in Romania through its residential investments brand, Cordia. The company has recently announced a 50 million EUR worth of investment plan in Bucharest for the next year, part of a long-term roadmap for the local market. Cordia division plans to deliver about 500 apartments per year, designed for medium and medium high segments.
FSBOs vs. Real Estate Agents. Do agents really sell homes for 13% more?
22 April 2015 • Real estateHave you seen the claim that “research shows” that real estate agents sell homes for 13% higher prices than people who sell their homes themselves? Does that seem right to you? I wouldn’t be surprised if real estate agents sold homes for prices that are a few percentage points higher than homes sold directly by homeowners but 13% more didn’t seem plausible to me. So being a trained economist, in addition to being a real estate agent the last 12 years, I decided to track down the origin of this beloved real estate agent data point. Note: A home the owner is selling directly to buyers without using a real estate agent is called a “For Sale By Owner” or “FSBO” by real estate agents.
COLLIERS INTERNATIONAL ROMANIA RESEARCH & FORECAST REPORT | 2019
28 February 2019 • Real estate2018: ANOTHER YEAR WITH A ROBUST ECONOMY The last decade has probably been the best period in terms of economic development in Romania’s 100-year history, even when taking into account the boom-bust 2007-2009 cycle, with the 2015-2018 period especially supporting this outcome. Last year ended with economic growth of a bit over 4%. This is a slowdown from the surprising 7% figure in 2017, but nevertheless, it is still one of the better results in the EU, where growth hovered around 2% on an aggregate level. Private consumption continued to play a leading role (likely up by around 5%), albeit expanding less than in the previous year (a bit over 10% in 2017) and generated close to three quarters of economic growth; this slowdown came amid higher inflation, tighter monetary policy, fiscal policy uncertainties and slight softening of the RON, all of which impacted consumer optimism to an extent. Other details of growth numbers were even less encouraging, as investments returned to negative territory, the negative impact of net exports swelled a bit and inventories (often a volatile component) had a significant positive contribution to GDP growth.
Real Estate Market report 2018 | Crosspoint
29 March 2019 • Real estateReal Estate Market report 2018 | Crosspoint
TOP 10 OFFICE DEALS, Q2 2018
30 August 2018 • Real estateCo-work takes hold in the second trimester on the office market in Bucharest, with two new international groups announcing their entrance on the local market: Mindspace in Globalworth buildings and Spaces in Campus 6.1 and Unirii View. Another important new entry has been confirmed – London Stock Exchange, thus reinforcing the potential of the Romanian office sector, with a positive signal to institutional foreign investors.
You want to buy a property in Romania? Here’s how a Romanian real estate due diligence lawyer can advise you
30 August 2018 • Real estateBefore buying a property in Romania, both the seller and the buyer must ensure that they have all the necessary documents available. Issuing some of the documents takes time and it would be unpleasant to know that some of the documents are missing in the day before the transaction takes place, so that the deal must be postponed. In this sense, it is advisable to use the services of a Romanian lawyer specialized in due diligence, constructions and real estate transactions.
Re-imagining office lobby
6 September 2018 • Real estateIn a more and more crowded office market, with new hubs developing at fast pace, real estate investors are coming with new concepts, re-thinking the use of different functions, such as the office lobby. According to “Innovation Spaces: The New Design of Work” study, the ground-floor of the office buildings is transforming “into community magnets that creatively draw like and unlike people together”. The study argues that the coffee shop on the ground floor is the easiest approach. “In other cases, the infusion of free, fast and pervasive wireless technology combined with more lounge-like spaces has transformed ground floors into working hubs”.