Bucharest Real Estate Club

The Real Estate Platform in Southeast Europe

NEW CHAPTERS: Aura Dinu, New Leasing Manager at LPP SA

NEW CHAPTERS: Aura Dinu, New Leasing Manager at LPP SA 299 299 Bucharest Real Estate Club

NEW CHAPTERS: Aura Dinu, New Leasing Manager at LPP SA

Aura Dinu, one of the most experienced retail professionals in Romania, has been appointed Leasing Manager with LPP SA, as of January 2021.

She has been working in Real Estate industry, on the retail segment, since 2004, holding various Marketing, Operations and Business Development roles for companies such as Baneasa Developments, AFI Europe Romania or Home & Design Mall.

LPP SA is one of the most dynamic apparel companies in Central and Eastern Europe. The Company has been operating in Poland and abroad for more than 26 years. LPP SA manages 5 fashion brands: Reserved, Cropp, House, Mohito and Sinsay. The Company has a network of over 1.700 sales outlets amd on-line stores of all its brands in Poland, European, Asian and African countries. LPP SA is listed on the Warsaw Stock Exchange within the WIG20 Index.

The Group entered the Romanian market in 2014 and its most recent brand addition on the local market is Sinsay, launched in 2013. The Group recently announced a new Sinsay store inauguration in the new Colloseum Mall located in Bucharest – West.

NEW CHAPTERS: Globalworth appoints Marian V. Popa as Managing Director for Romania

NEW CHAPTERS: Globalworth appoints Marian V. Popa as Managing Director for Romania 1600 985 Bucharest Real Estate Club

NEW CHAPTERS: Globalworth appoints Marian V. Popa as Managing Director for Romania

Globalworth announces the appointment of Marian V. Popa as Managing Director for Romania with effect from 1st March 2021.

At the leading office investor in Central and Eastern Europe (CEE), Marian V. Popa will be responsible for managing the company’s activities in Romania, focusing on operational, administration and business development matters, and will report to Dimitris Raptis, the CEO of Globalworth Group.

“I am excited to start my new assignment as Managing Director for Romania and I look forward to working closely with the experienced Globalworth professionals. Romania has been the foundation of Globalworth’s success and will always represent an important pillar for its future development. I am pleased and honored to lead the local team and guide its further consolidation and growth. Since technology plays a central role in the office of the future, I truly believe that my background in this field will help Globalworth to continue providing the largest business community in the country with integrated and cutting-edge solutions to respond to the different needs of an increasingly evolving market”, says Marian V. Popa.

With senior management experience focused on the financial services, business services, outsourcing and technology sectors with multinationals such as Deutsche Bank, Endava, Fujitsu or Rank Xerox, Marian Popa holds a degree in Economics and Foreign Trade Relations (Romania) and three diplomas in Executive Management Education (UK, Belgium, and France).

In his most recent role as Managing Director of Deutsche Bank Global Technology Romania, between 2014 and 2021, he created one of the four strategical technology centers of Deutsche Bank worldwide managing over 1,000 people. Before joining Deutsche Bank, Marian V. Popa held the position of Chief Executive Officer (CEO) of notable companies such as Endava CEE (over 7 years), Fujitsu/ICL (8 years) and Xerox Romania & Moldova (over 14 years).

Marian Popa founded the consulting company Transformative Coaching and several NGOs such as the Foundation for the Medieval Art Festival in Sighisoara, The American Chamber of Commerce, The British – Romanian Chamber of Commerce, AOAR, Transparency International Romania and many others.

Read BREC Talks with Marian Popa >>

NEW CHAPTERS: Florin Tirla, new Country Head of Indotek Group – Romania & Bulgaria

NEW CHAPTERS: Florin Tirla, new Country Head of Indotek Group – Romania & Bulgaria 500 500 Bucharest Real Estate Club

NEW CHAPTERS: Florin Tirla, new Country Head of Indotek Group – Romania & Bulgaria

Florin Tirla is the new Country Head for Romania and Bulgaria within Indotek Group, one of the leading investment management groups in Hungary.

With 15 years of experience on the local real estate market, Florin has previously worked for companies such as CBRE, Knight Frank or Cabot Capital.

The Hungarian group took the first step on the Romanian commercial real estate market in 2019, acquiring 50,000 sqm Promenada Targu Mures shopping mall, with the contribution of Morgan Stanley.

The group intends to strengthen its position in SEE trough new acquisitions.

NEW CHAPTERS: Dimitris Raptis appointed sole CEO of Globalworth

NEW CHAPTERS: Dimitris Raptis appointed sole CEO of Globalworth 1379 919 Bucharest Real Estate Club

NEW CHAPTERS: Dimitris Raptis appointed sole CEO of Globalworth

Globalworth, the leading office investor in Central and Eastern Europe (CEE), announced that Dimitris Raptis was appointed sole CEO of the group. Ioannis Papalekas stepped down from the role of CEO, effective 15th of December 2020.

I am delighted to take on the sole CEO role and look forward to cementing Globalworth’s market leading position in CEE. I am very confident that we will address the challenges that may lie ahead in 2021 and beyond and achieve new levels of success”, he said.

Dimitris is a seasoned business leader with 25 years of experience in the financial services and real estate industries. He has been Globalworth’s Co-CEO since March 2020. He joined the group when it was founded in 2012 as Deputy CEO and Chief Investment Officer.

Market Reports

Market Reports 1600 1120 Bucharest Real Estate Club


Bucharest will never be the same again. It is now a bold, vibrant and modern city whose facelift is definitively set by the latest Real Estate investments.

The newest BREC Report captures the most significant developments you should know about in Bucharest (2018 – 2022).


The First Romanian Real Estate Market Syndicated Report, by BUCHAREST REAL ESTATE CLUB  



Powerlists, rankings, macro and sectorial trends and analyses, market intel, opinions and key investors and consultants` outlook on the following 2 years are all comprised in BUCHAREST REAL ESTATE CLUB ROMANIA R.E.VOLUTION Report.

This is the first Romanian Real Estate Market Syndicated Report, a cohesive contribution of  BCR, COLLIERS INTERNATIONAL ROMANIA, NOERR, CUSHMAN WAKEFIELD ECHINOX, KPMG ROMANIA, CBRE ROMANIA, JLL ROMANIA, together with the latest data on the Bucharest infrastructure projects from the BUCHAREST CITY HALL.

Download the report
to read more on the following

Real Estate Market Trends (2019 – 2020)
KPMG Romania: Macroeconomic Outlook
Infrastructure: Bucharest City Hall main projects 2019-2020
Finance & Corporate Bonds
JLL Romania: Investment Market
Colliers International Romania: Office Market
CBRE Romania: Retail
Colliers International Romania: Industrial
Noerr: The Legal Eye
Dragomir Bunea Notary Office: The Notary` View
To access the report please click on the bottom below 
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Women in Real Estate

Women in Real Estate 3661 4843 Bucharest Real Estate Club

Women in Real Estate by BREC: The 1st Report on Women in Real Estate Leadership Positions in Romania

If in the real estate markets in Western Europe it is quite rare to meet female figures in leadership roles, the same cannot be said about Romania, where a series of women with a long career are at the helm of prolific businesses, at least in recent years. According to BREC estimates, women are in top positions in the local market in several companies with assets whose total value exceeds 5 billion euros. The new phase of development after the financial crisis has brought not only a more responsible growth and more quality products on the market, but also numerous promotions of women in management positions: from investment funds or development companies to financing institutions or companies advisory and law, as well as entrepreneurial businesses.

Moreover, the BREC study reveals that Romanian women also hold global positions in the real estate field. One such case is that of Elisabeta Boşneag, Head of Global Real Estate at UiPath. She has been working in real estate for over ten years, covering various market segments, starting with the industrial – logistics and continuing with the project management of office space. For two years, Elisabeta Boșneag helped to develop and open the 47 UiPath offices around the world.

Anca Damour holds the position of member of the board of directors of Carrefour and her name is linked to the strong expansion of the French retailer, reaching 370 stores with various formats on the local market. From his role as manager of the expansion and real estate, legal, external communication, corporate affairs and social responsibility departments, he contributed decisively to one of the fastest expansions of the Carrefour Group in Romania, which led to a doubling of the company’s turnover from EUR 1 billion to 2 bln., between 2013 and 2018.

The passion for residences is the red thread of a career spanning 19 years in real estate. b is Vice President, Residential Division of One United Properties – a company known for projects such as One Herăstrău Park, One Charles de Gaulle or One Herastrau Plaza. “It is important to keep your ethics and backbone as a professional and human, on a market where properties that are no longer for sale are promoted, for example, or where offers listed at all agencies appear, at least three different prices “, Beatrice Dumitrașcu believes.

The logistics sector is also not bypassed by women in terms of management. With 12 years of experience in the local market, Sînziana Pardhan is the Managing Director for Romania of logistics developer P3, a developer and long-term owner of logistics properties in Europe, 100% owned by GIC, the sovereign wealth fund of Singapore. Sînziana manages a portfolio of 380,000 sqm of logistics spaces in Bucharest and oversees the development of a new 80,000 sqm park in Dragomirești Vale.

Antoanela Comșa is General Manager of Gran Via Romania, a Spanish developer with investments exceeding 200 million euros on the local market. In 2020 Antoanela celebrated ten years of activity within Gran Via, which reached at the end of last year a turnover on the whole group of approximately 43.2 million euros, cumulating the financial results from the ensembles Timișoara 58, Gran Via Park and Aviației Apartments.

The Women In Real Estate study reveals 33 success stories, inspiring young women at the beginning of the road. Among them, we mention Aurelia Luca, Executive Vice President for Romanian operations within Skanska Commercial Development Europe, Ramona Iacob, Country Manager of IWG (the group of which Regus and Spaces are part), Emma Toma, Head of Office Divison, AFI Europe Romania, Diana Nanu, Strategic Advisor at Element Group, Ema Iftimie, Head of Leasing at Globalworth, Cristina Căpitanu and Elena Oancea, Co-Founders of Lemon Interior Design.

Read the full Women in Real Estate Report: 


Investment briefing: strong fundamentals for Romanian real estate market

Investment briefing: strong fundamentals for Romanian real estate market 1920 1280 Bucharest Real Estate Club

Investment briefing: strong fundamentals for Romanian real estate market

Romanian real estate market has strong fundamentals and an eventual correction will be a moderate one, that was the conclusion of the most important investors and consultants during the Investment Briefing roundtable organized last week by Bucharest Real Estate Club at Athenee Palace Hilton, in Bucharest.

The event was attended by top real estate professionals, IT companies and representatives of international chamber of commerce in Romania. Itay Banayan, VP, Real Estate for Mindspace, one of the most recent companies to enter Romanian market with a strong leasing deal of 12,000 sqm, Mihai Zaharia, Director of Investments & Capital Markets, Globalworth, Robert Miklo, Director, Investment Services, Colliers International Romania, Marian Popa, Ori Efraim, Head of Real Estate, KPMG, Oana Motoi, Managing Partner, Cromwell Evan Global and Roxana Dudau, Associated Partner, Noerr were among the speakers.

“The office segment remains our core area for portfolio development, but we are also looking more carefully towards the logistic sector. We have such a project in Timisoara that we are developing, but we are also analyzing other cities for new investments, such as: Cluj, Sibiu or Constanta. We choose to develop because there aren’t enough available products on the market”, Mihai Zaharia, Director of Investments & Capital Markets, Globalworth said during the event.

“When the next dip arrives, it will likely be shallow, supported by balanced, robust fundamentals in markets,” Robert Miklo, Director, Investment Services, Colliers International Romania argued in his presentation. He added: “Internal migration patterns will drive real estate with a strong hand and growth will come from regional hubs mostly.”

“Landlords that implemented the last valuation reports at the end of 2016, should reassure to update them until March 2019, to avoid paying the property tax at an increased quota of 5%”, said Oana Motoi, Managing Partner of Cromwell Evan Global, a recent established company active in the tax & business advisory fields.

In a premiere at a business event on the Romanian market, Itay Banayan, VP, Real Estate for Mindspace spoked about new workspace format: “We provide high-end, flexible, tech-enabled workspaces for our member-based communities of large enterprises, small businesses and entrepreneurs. We are organizing and hosting hundreds of events every month, such as lectures, workshops, networking events, tech talks or professional meetups. This is our way of making Mindspace the center of attraction for the local ecosystem. It helps to create an outstanding reputation as well as attract new customers,” he said.

The workspace format triggered quite a debate. Marian Popa, Country Manager for Deutsche Bank Technology Center which employs now 900 people in Bucharest commented: “Our employees work one day per week from home. This initiative determined the decrease of our space need by 15%. New operators such as Mindspace are good news for us because they offer a cheaper and more efficient solution. The market should reorient towards <<services area>> or else the buildings will be partially empty until 2030.”

Commenting on what can Romania implement in the legal field, in order to be more attractive for investments in real estate and to attract the long awaited institutional investors, Roxana Dudau, Associated Partner of Noerr, said: Granting fiscal incentives in Bucharest for green buildings (already implemented in Cluj Napoca and Timisoara) could attract more institutional investors. Bucharest is the city with the biggest number of green buildings and such incentives are not yet granted.”

Ori Efraim, Head of Real Estate, KPMG, presented the conclusions of the “Property Lending Barometer 2018”, a survey among 70 banks from 14 European countries: “Most Romanian banks in the KPMG survey emphasized the importance of real estate financing in their banking strategy. In comparison with last year’s query, about 40% of respondents have increased their focus on the sector significantly whilst the remaining 60% have maintained their positions. All of the banks are open to provide financing to income generating projects, whereas only 40% are open to finance new developments”, he said.

The topics discussed at the roundtable have also been presented in the media, generating new subjects on the public agenda:

Capital -> https://bit.ly/2RTDDvC
Economica -> https://bit.ly/2zOClL2
Capital -> https://bit.ly/2PXZCny
Adevarul -> https://bit.ly/2QEYumb
Economica -> https://bit.ly/2T8gF5e

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Who’s Who: Gábor Futó, Co-founder, Futureal

Who’s Who: Gábor Futó, Co-founder, Futureal 428 350 Bucharest Real Estate Club

Who’s Who: Gábor Futó

Co-founder, Futureal


Gábor Futó co-founded Futureal group with his father, Péter Futó. Futureal is currently active in 5 countries: Hungary, Poland, Romania, Germany and the USA. Under his leadership, Futureal has become one of the top 20 developers in Europe. Previous gold medalist of the International Mathematical Olympiad, Gábor Futó received his MSc in Mathematics from Eötvös Loránd University, Budapest in 1999, his MBA from London Business School – BUES Program and has been visiting fellow in 1998, 2000 and 2001 at Harvard University (Economics PhD Program) and Harvard Business School (MBA Program). Gábor and Peter Futo also participated through Finext Startup Venture Capital Fund Management at the initial public offering of Globalworth, the company founded by Ioannis Papalekas.


Futureal is a leading real estate developer and investor in CEE and one of the top 20 largest developers in Europe. The group is a family owned enterprise with an exceptional team of around 170 real estate professionals and projects valued at 1,6 billion EUR. The vision of the group is to work in close, long-term partnership with cities, tenants and investors. Futureal developed Corvin Plaza, the largest urban regeneration project in CEE, several office and shopping center projects in Hungary, Poland and Romania and has also founded a residential subsidiary, Cordia. In Romania, the company developed Gold Plaza shopping center together with Immofinanz, residential condominium Cordia Parcul Privighetorilor and has now under development a new large residential scheme near Expozitiei area.

Who’s Who: Laurentiu Lazar, Colliers Romania

Who’s Who: Laurentiu Lazar, Colliers Romania 1720 1704 Bucharest Real Estate Club

Who’s Who: Laurentiu Lazar

Managing Partner, Colliers Romania


Laurentiu has over 11 years of experience in real estate services including valuation, advisory and investment. He joined Colliers in 2007 as a real estate valuer and in 2009 he started to head the Valuation and Advisory Services, with the responsibility to expand the valuation team in Romania. Over the last five years, the valuation team has appraised over 500,000 properties. In 2015 Laurentiu extended his area of expertise and became Head of Investment, having the main responsibility of developing the Capital Markets services. Since then, the investment team managed to originate, structure and successfully close transactions exceeding EUR 500mn. He was later appointed as Senior Partner within Colliers International Romania in 2016 and now is the managing partner of Colliers on the Romanian market.


Colliers International is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
In Romania, Colliers International is one of the leading real estate agency, offering a complete range of real estate advisory services.

Who’s Who: Ruxandra Grinzeanu, Raiffeisen Property Romania

Who’s Who: Ruxandra Grinzeanu, Raiffeisen Property Romania 400 275 Bucharest Real Estate Club

Who’s Who: Ruxandra Grinzeanu

Managing Director, Raiffeisen Property Romania


Ruxandra Grinzeanu is Managing Director of Raiffeisen Property Romania, a real estate developer operating in CEE, a 100% subsidiary of Raiffeisen Property International. In Romania, the company owns two landmark properties, Sky Tower and FCC Building. The two outstanding office buildings are located in Bucharest’s most dynamic office area – Barbu Vacarescu-Floreasca, being occupied by tenants such as Raiffeisen Bank, Peli Filip law firm or Oracle and Nor Restaurant, one of Bucharest’s most exclusive restaurants, located at the 36th floor of Sky Tower. Ruxandra has a bachelor’s degree in Financial Management & Banks from Constanta University, she is a member of The Charted Institute of Management Accountants and she also holds an MBA. Before joining RPR in 2010, Ruxandra has previously worked for companies such as Rompetrol, Mega Image and River Invest.


Raiffeisen Property International (RPHI) develops, manages and sells real estate in Austria and on CEE markets. RPHI, the real estate competence center of Raiffeisen Bank International, offers a full range of in-house development and other real estate related services. The integration into the banking network of Raiffeisen Bank International provides security and support in the regions of CEE and South-Easter Europe, which enables the real estate division to implement and pursue long-term strategies. In Romania, the company owns two landmark properties, Sky Tower and FCC Building. The two outstanding office buildings are located in Bucharest’s most dynamic office area – Barbu Vacarescu-Floreasca.