Bucharest, July 28, 2026 – NEPI Rockcastle, AFI Europe Romania, and IULIUS lead the ranking of the largest shopping center owners in Romania; Globalworth, Pavăl Holding, and CPI Property Group head the top owners of office buildings; while CTP, WDP, and VGP top the list of the largest logistics and industrial park owners in the country, according to Q2 2026 data provided by the real estate consultancy firm iO Partners for BREC & RPC.
| NO. | TOP RETAIL REAL ESTATE OWNERS IN ROMANIA* | ||
| COMPANY NAME | GROSS LEASABLE AREA (GLA – SQ M) | MARKET SHARE % | |
| 1 | NEPI Rockcastle | 939.800 | 20,2 |
| 2 | AFI România | 325.500 | 7,1 |
| 3 | IULIUS & Atterbury Europe | 320.000 | 6,9 |
| 4 | MAS REI | 309.700 | 6,7 |
| 5 | CPI Property Group | 238.702 | 5,2 |
| 6 | Other Players | 2.498.300 | 53,9 |
| 7 | Total | 4.632.002 | 100 |
* Stock includes shopping centers, retail parks, outlet centers, and hypermarkets with galleries, with a leasable area of at least 5,000 sq m. Source: iO Partners, Q2 2026.
NEPI Rockcastle currently has under development the expansion of Promenada Mall Bucharest by 55,400 sq m (including office space and a hotel), as well as the new Galați Retail Park project (42,000 sq m GLA), both with delivery scheduled for 2027.
AFI Europe Romania recently acquired a stock of 125,500 sq m, comprising six retail parks, from MAS REI – a transaction that moved the developer up one spot in the ranking.
IULIUS & Atterbury Europe have commenced construction on the RIVUS mixed-use project in Cluj-Napoca, which will feature a commercial area with over 400 stores across 142,000 sq m GLA, along with an office component. IULIUS has also initiated a large-scale mixed-use project in Constanța, currently in the concept development stage, which will include retail and office space on a 38-hectare plot. Additionally, IULIUS has started the redesign and extension of Palas Iași shopping center, adding 16,000 sq m of retail GLA, bringing the total project footprint to 80,000 sq m. This year, the company will also inaugurate its third Family Market – a convenience retail concept – in the Iași metropolitan area. With 13,000 sq m of retail GLA, the project features a supermarket, drive-thru, fitness center, and daily essential services.
MAS REI reduced its portfolio from over 400,000 sq m to 309,700 sq m and moved down in the rankings following the sale of its 6 retail parks to AFI Europe Romania.
CPI Property Group is undergoing a complex modernization process of Sun Plaza, one of the primary shopping malls in its Romanian portfolio.
The top five retail property owners account for over 46% of Romania’s total modern retail stock.
| NO. | TOP OFFICE BUILDING OWNERS IN ROMANIA* | ||
| COMPANY NAME | GROSS LEASABLE AREA (GLA – SQ M) | MARKET SHARE % | |
| 1 | Globalworth | 443.100 | 9,8 |
| 2 | Paval Holding | 354.200 | 7,9 |
| 3 | CPI Property Group | 280.000 | 6,2 |
| 4 | AFI România | 274.000 | 6,1 |
| 5 | IULIUS | 260.000 | 5,7 |
| 6 | Other Players | 2.909.000 | 64,3 |
| 7 | Total | 4.520.300 | 100 |
* Stock includes modern Class A and B office buildings for rent, built or renovated since 2000, with a leasable area of at least 2,000 sq m, located in Bucharest, Cluj-Napoca, Timișoara, Iași, and Brașov. Source: iO Partners, Q2 2026.
Globalworth broke ground at the end of 2025 on Green Court D in Bucharest (16,500 sq m), scheduled for delivery in 2027.
Pavăl Holding’s most recent move in the office sector was the 2025 acquisition of Ethos House (7,300 sq m) in the Floreasca area of Bucharest.
CPI Property Group sold a portion of the Iride Business Park complex in Bucharest (approx. 60,000 sq m) to Alfa Group in 2025.
AFI Europe Romania is developing the AFI Central Tower office building in Bucharest – a 28,100 sq m conversion of the former Bancorex building on Calea Victoriei scheduled for completion in 2028 – as well as AFI Park Brașov 2 (12,000 sq m), set to be delivered in 2027.
IULIUS has started construction on the Rivus mixed-use development in Cluj-Napoca and is planning a mixed-use project in Constanța, both featuring major office components.
The top five office property owners represent 35% of the total modern office stock in Romania.
| NO. | TOP LOGISTICS & INDUSTRIAL PARK OWNERS IN ROMANIA* | ||
| COMPANY NAME | GROSS LEASABLE AREA (GLA – SQ M) | MARKET SHARE % | |
| 1 | CTP | 3.321.500 | 37.9 |
| 2 | WDP | 2.058.300 | 23,5 |
| 3 | VGP | 585.000 | 6,7 |
| 4 | P3 (GIC) | 380.000 | 4,3 |
| 5 | Logicor (CIC) | 331.200 | 3,8 |
| 6 | Other players | 2.089.500 | 23,8 |
| 7 | Total | 8.765.500 | 100 |
* Stock includes rental space in Class A and B industrial and logistics parks, built or renovated since 2000, with a leasable area of at least 5,000 sq m (excluding temperature-controlled units, which may be under 5,000 sq m). Source: iO Partners, Q2 2026.
CTP aims to surpass the 4 million sq m threshold in the coming years, primarily through the expansion of CTPark Bucharest West and CTPark Bucharest South.
WDP plans to expand by nearly 200,000 sq m by 2027 through ongoing pipeline projects, mostly located in Bucharest.
VGP is nearing the 600,000 sq m mark following deliveries exceeding 120,000 sq m in the first half of this year.
P3, owned by Singapore’s sovereign wealth fund GIC, continues to target the sale of its Romanian portfolio, with a transaction expected before the end of this year.
Logicor focuses on expanding around Bucharest, with plans to deliver approximately 30,000 sq m by the end of 2027.
The top five industrial players control approximately 76% of Romania’s total modern industrial and logistics stock (production and warehousing).
“The ranking of real estate asset owners in Romania tells a compelling story of market confidence. Romanian capital stands today alongside capital from the Czech Republic, South Africa, Israel, the Netherlands, Belgium, Singapore, and China across portfolios totaling nearly 18 million square meters, valued at tens of billions of euros. This proves that the Romanian real estate market has reached sufficient maturity and profitability to attract long-term investors with a highly diversified profile.” – Despina Ponomarenco, Founder of BREC & RPC.
