HILS Development Announces the Complete Sale of HILS Pallady and HILS Splai, Landmark Projects in Bucharest’s Eastern Areahttps://brec.ro/wp-content/uploads/2025/04/Bogdan-Balasa_HILS-Development-scaled.jpg900600BUCHAREST REAL ESTATE CLUBBUCHAREST REAL ESTATE CLUBhttps://brec.ro/wp-content/uploads/2025/04/Bogdan-Balasa_HILS-Development-scaled.jpg
HILS Splai and HILS Pallady are two reference projects for the development of the eastern area of the Capital: the full sale of the two residential projects totals 2,019 apartments and over 95,000 sq m of living space
HILS Development announces the complete sale of two residential complexes, HILS Pallady and HILS Splai. These projects comprise 2,019 apartments accommodating approximately 5,000 residents. HILS Pallady was completed in four years and sold in five, while HILS Splai was developed in two years and fully sold in three. Both complexes are strategically located with excellent connectivity, providing easy access to public transport, shopping centers, educational institutions, and on-site recreational facilities.
Bogdan Bălașa, General Manager of HILS Development: “HILS Pallady represents our first mixed-use residential project in the eastern part of the city and we are pleased to close the first quarter of 2025 with this achievement and look forward to completing the first phase of HILS Republica in June, delivering 369 new apartments. We remain committed to diversifying and enhancing the availability of high-quality housing in other areas of Bucharest”.
HILS Pallady: Connectivity and Well-Developed Infrastructure
HILS Pallady is HILS Development’s first mixed-use project, benefiting from proximity to essential commercial, medical, educational, and infrastructure facilities. Completed in 2023, it comprises 12 buildings with 1,908 apartments in various layouts. The complex features 2,013 parking spaces, accommodating both residents and visitors. Additionally, it includes over 14,000 square meters of green spaces and children’s playgrounds. The project is located just 50 meters from Anghel Saligny metro station, in a rapidly expanding commercial area.
HILS Splai: Tranquil Living Near the City Center
HILS Splai is a residential project situated at Cheiul Dâmboviței 22, conveniently close to the city center and a major shopping hub. The project consists of 111 apartments in studio, two-bedroom, and three-bedroom configurations. Covering a total area of 7,500 square meters, the complex dedicates 2,271 square meters to green spaces.
Meet our members: BREC talks to Adrian Ursulean, SINGUhttps://brec.ro/wp-content/uploads/2025/03/Adrian-Ursulean.png614600BUCHAREST REAL ESTATE CLUBBUCHAREST REAL ESTATE CLUBhttps://brec.ro/wp-content/uploads/2025/03/Adrian-Ursulean.png
26.02.2025
Adrian Ursulean, SINGU România
What are the company’s business targets and plans for 2025 in Romania?
SINGU is the leader for building operations and facility management software in CEE and we are focused on expanding our market presence and reinforcing its leadership by improving the property operations of those companies that manage real estate portfolios. By 2026, our primary objectives include increasing our footprint across key sectors, particularly commercial, retail, and logistics real estate. We aim to deepen our partnerships with local industry leaders, providing tailored, data-driven solutions that enhance operational efficiency and sustainability.
A key element of our strategy is leveraging SINGU’s platform, IoT-driven automation, and ESG compliance tools to help businesses optimize maintenance, asset management and facility operations. By continuously investing in R&D and product enhancements, we ensure our solutions remain at the forefront of smart, sustainable property management.
My goal is to help Romanian businesses reduce costs, improve tenant satisfaction, and achieve operational excellence through a fully integrated, cloud-based ecosystem as we have done for many of our existing customers in CEE.
How does SINGU’s integrated technology improve operational efficiency in facility management compared to traditional methods?
SINGU transforms facility management by automating critical processes, improve preventive maintenance procedures, and providing real-time data insights that drive efficiency. Traditional methods rely on fragmented, manual workflows, leading to inefficiencies and operational bottlenecks. In contrast, SINGU centralizes property management activities, streamlining work order management, asset tracking, predictive maintenance, and energy monitoring within a single, intuitive platform.
By implementing SINGU, property managers can automate routine maintenance, optimize vendor coordination, and significantly reduce human error. Predictive analytics enable proactive equipment servicing, minimizing costly breakdowns and unplanned downtime. Clients leveraging SINGU report up to a 25% reduction in vendor costs, a 50% improvement in process efficiency, and a 500% return on investment —demonstrating the platform’s impact on cost savings and operational performance.
What specific ESG (Environmental, Social, and Governance) compliance and reporting features does SINGU offer to help real estate companies meet sustainability goals?
SINGU provides a comprehensive ESG compliance and reporting solution, automating data collection across real estate portfolios to ensure accurate and up-to-date sustainability tracking with minimal effort. Through smart metering , SINGU enables real-time monitoring of energy consumption, carbon footprint, and waste generation, categorizing emissions into Scope 1, 2, and 3 based on GHG Protocol methodologies. Its sustainable property management tools help track equipment warranties, usage, and repairs to prevent inefficiencies, while smart alerts detect anomalies, ensuring optimized building performance. Additionally, waste-related carbon footprint calculations and automated alerts notify property managers of sustainability risks, aligning with frameworks like GRESB, CSRD, and SFDR .
SINGU also enhances tenant well-being and governance by integrating IoT-based indoor air quality monitoring , tracking CO₂ levels, humidity, and other key factors to improve occupant health and productivity. The SINGU Tenant App enables direct engagement, fostering satisfaction and proactive management. On the governance side, SINGU ensures regulatory compliance by automating reporting and audit-ready documentation , aligning with evolving ESG standards. With transparent, auditable reports , real-time analytics , and seamless integrations, SINGU empowers real estate companies to meet sustainability goals, improve operational efficiency, and drive long-term ESG success.
Can you provide examples of how SINGU’s maintenance and automation solutions have helped reduce operational costs for property managers?
SINGU’s advanced maintenance and automation solutions have delivered measurable cost savings for property managers by streamlining facility operations and reducing inefficiencies.
Key examples include:
Predictive Maintenance: By leveraging analytics, property managers can detect potential equipment failures in advance, reducing emergency repairs and unplanned downtime. This proactive approach minimizes operational disruptions and significantly extends asset lifespan.
Automated Workflows: Routine tasks such as HVAC monitoring, lighting control, and elevator inspections are automated, eliminating manual interventions and reducing labor costs.
Optimized Vendor Management: SINGU’s platform helps businesses cut vendor costs by up to 25% through enhanced workflow coordination and real-time performance tracking.
Resource Allocation Efficiency: Smart energy management tools enable data-driven decisions that optimize energy consumption, reducing utility costs while improving sustainability.
These efficiencies translate into tangible financial benefits, with SINGU clients reporting up to 500% ROI and a 50% reduction in administrative workload , making facility management more cost-effective and data-driven.
What are the key performance metrics that real estate companies can track using SINGU’s platform to optimize asset performance and tenant satisfaction?
SINGU’s CAFM solution provides real estate companies with key performance metrics that optimize both asset performance and tenant satisfaction. The platform enables CAPEX and OPEX tracking, allowing companies to analyze spending patterns, make data-driven resource allocation decisions, and plan future investments. Equipment performance and maintenance costs are also closely monitored, with detailed records on asset history, scheduled maintenance, and efficiency metrics helping to extend equipment lifespan while reducing repair expenses. Additionally, vendor SLA and performance tracking ensures service quality, allowing property managers to hold vendors accountable for meeting contractual obligations and maintaining high operational standard
For tenant satisfaction, SINGU enhances communication and feedback collection, enabling tenants to report issues efficiently while property managers can resolve them promptly. Work order management is streamlined, ensuring rapid response times and minimizing downtime, contributing to a better tenant experience. The platform also improves operational efficiency by automating facility processes, reducing inefficiencies, and ensuring smooth day-to-day management. By centralizing these performance metrics into a unified system, SINGU empowers real estate companies to maximize asset value, reduce operational risks, and elevate tenant satisfaction, ultimately fostering more efficient and sustainable property management.
By utilizing SINGU’s data-driven insights, real estate organizations can enhance operational performance, reduce costs, improve service delivery, and create a seamless experience for tenants and stakeholders .
2025 Trends with Alexandru Samoilă, Vitalis Consultinghttps://brec.ro/wp-content/uploads/2025/03/Alexandru-Samoila-s-scaled.jpeg1200600BUCHAREST REAL ESTATE CLUBBUCHAREST REAL ESTATE CLUBhttps://brec.ro/wp-content/uploads/2025/03/Alexandru-Samoila-s-scaled.jpeg
26.02.2025
Alexandru Samoilă, Managing Director Vitalis Consulting
What were the main business results for 2024?
In 2024, we had a very successful year in every aspect. We made significant progress by engaging in new projects and completing some long-term ones. Additionally, we advanced through various stages of ongoing projects. While faced some challenges, these experiences taught us valuable lessons.
One of our key achievements in 2024 was our involvement in the green energy sector, specifically through partnerships in developing several photovoltaic parks. We are strong advocates for renewable energy and strive to contribute as much as possible. On the retail and industrial front, we successfully delivered several projects. For instance, we partnered with Kaufland as they expanded into multiple cities across the country, providing Project Management support for their new locations. We are pleased with the outcomes. We also met our deadlines for the warehouses located in Ghiroda, Turda, and Sibiu.
In terms of ongoing projects, we made significant progress in hotel development, working on seven projects simultaneously. We are excited to announce that the Grand Hotel du Boulevard, situated in the heart of Bucharest, is now open. Furthermore, we are actively involved in restoring historical monuments and developing one of the most anticipated retail spaces in Bucharest – the Stirbei Palace, which promises to be a unique project in Romania.
Overall, we can confidently state that 2024 was a successful year, with progress aligning with our expectations. We look forward to 2025, hoping for continued stability and market growth at a similar pace.
What are the company’s business targets and plans for 2025?
In 2025, we anticipate that the market will maintain its current pace. We are optimistic about achieving results similar to those we experienced in 2024. Our focus will be on continuing our successful projects and exploring new opportunities for growth. We are committed to delivering quality and value to our clients, and we believe this approach will lead to another successful year. A difference that we expect from 2025 is the growth of delivered projects. We work on the final stages of a few projects and we are preparing to deliver and see the final results.
What regions or construction segments (residential, commercial, infrastructure) do you see as growth drivers in Romania for 2025? What key factors are driving growth in the construction market for 2025, and how is Vitalis positioning itself to capitalize on these opportunities?
In 2024, a higher interest of developers in the hotel industry was observed. Due to the development of infrastructure and the modernization of major cities in the country, Romania is experiencing an increase in tourism. Thus, in recent years, international brands (Swissotel, Corinthia, Mercure, Ibis) are developing accommodation units locally. As developments per regions, we see greater development in secondary cities. We have construction sites open in different regions of the country – Alba Iulia, Sinaia, Cluj, Brasov, Turda, Satu Mare, Bacau. So, we do see a significant growth in these regions.
In the industrial and commercial areas there were many deliveries completed last year. We believe that 2025 will maintain the same evolution.
What economic pressures (e.g., inflation, material costs, work force issues) or regulatory changes do you anticipate impacting the construction market in 2025, and how is your company preparing for them?
We recognize that there are challenges ahead for 2025, and we are ready to adapt to overcome them. One significant issue is inflation and rising costs, which have affected all areas of business. As entrepreneurs, we must effectively manage these challenges to optimize costs while maintaining the quality of our delivered product. Our goal is to ensure client satisfaction and build trust.
To achieve this, we prioritize open and transparent communication from our very first meetings. We collaborate with our clients to create an accurate budget, identify potential risks, and develop a project management plan together. Throughout the project, we provide continuous supervision and are always available to address any issues that arise. We also keep clients informed about material prices from the beginning to avoid any unexpected higher costs later on.
While inflation and political instability do create some turbulence in the real estate and development sectors, we are committed to managing these challenges. We understand that laws, authorizations, and procedures are constantly changing, and the current economic climate has its impact. Regardless of these conditions, we are dedicated to delivering successful projects.
2025 Trends with Răzvan Nica, BuildGreenhttps://brec.ro/wp-content/uploads/2025/02/Photo-Razvan-Nica-scaled.jpg1200600BUCHAREST REAL ESTATE CLUBBUCHAREST REAL ESTATE CLUBhttps://brec.ro/wp-content/uploads/2025/02/Photo-Razvan-Nica-scaled.jpg
26.02.2025
Răzvan Nica, CEO & Founder BuildGreen
What were the main business results for 2024?
In 2024, BuildGreen strengthened its position as a leader in sustainability by expanding beyond certification into ESG and decarbonization advisory, helping clients navigate increasingly complex regulations. We streamlined green building certification through digitalization driven analytics, enhancing efficiency and impact. Our international footprint grew, extending beyond the CEE region into Germany, Turkey, Lithuania, Latvia, and even Ukraine, demonstrating our adaptability to diverse markets and regulatory landscapes.
Amid tightening EU financial regulations, we played a crucial role in guiding companies through CSRD and EU Taxonomy compliance, ensuring real estate projects aligned with evolving sustainability standards. At the same time, we invested in team development, reinforcing our expertise to meet rising industry demands. By combining innovation, strategic expansion, and regulatory insight, BuildGreen continued to drive meaningful change in the built environment while securing long-term success.
What are the company’s business targets and plans for 2025?
In 2025, BuildGreen will intensify its efforts to evolve and expand the services we initiated in 2024, driven by a commitment to meeting our clients’ evolving needs and advancing the broader sustainability agenda.
Central to our plan is the continued strengthening of ESG and decarbonization advisory, where we will offer comprehensive support on due diligence, net-zero strategies, and corporate sustainability frameworks. By integrating advanced technology – from AI-driven analytics to digital reporting tools in cooperation with CarbonTool – we aim to improve both the accuracy and efficiency of sustainability management.
At the same time, we intend to move beyond treating certifications like BREEAM, LEED, or WELL as mere tick-box exercises and instead embed them into the larger ESG goals of our clients. This holistic view will ensure that sustainable practices become a core component of real estate development rather than an add-on. In parallel, the shift toward greater digitalization will remain a top priority, with real-time ESG tracking and automated reporting enabling more transparent, data-driven decision-making. Through these combined efforts, we aim to deliver even greater value for our partners, contribute to global decarbonization targets, and reinforce our standing as a leader in shaping the future of sustainable real estate.
What are the main challenges & opportunities for the real estate market in 2025?
In 2025, the real estate market will face both challenges and opportunities. A key challenge lies in adapting to stricter EU regulations, as companies must comply with new sustainability reporting and decarbonization requirements under CSRD and the EU Taxonomy. In addition, economic uncertainties in Romania may affect both supply and demand.
Financing also remains a concern, as developers seek cost-effective strategies to achieve net-zero targets and adopt circular economic principles. At the same time, integrating new technologies—such as AI, digital twins, and advanced ESG reporting—requires significant investment and expertise.
However, the market also presents promising opportunities. More businesses are prioritizing carbon reduction by adopting net-zero strategies, using low-carbon materials, and implementing energy-efficient solutions. The increased use of recycled, reclaimed, and bio-based materials helps reduce embodied carbon. Green financing and sustainability-linked loans are also on the rise; banks and investors increasingly favor projects aligned with EU sustainability standards, often providing more advantageous financing conditions.
Finally, Romania’s public sector is expected to ramp up investment in sustainable projects to meet EU goals, creating further growth opportunities for the industry.
What are the key sustainability trends in the construction and real estate sectors in 2025, and how is Build Green helping companies align with these trends?
In 2025, the construction sector continues to evolve at a measured pace, largely due to long-standing building methods such as brick and mortar, that have remained relatively unchanged for centuries. This slow adoption of innovation is also influenced by client and buyer preferences, where visible materials like red brick and concrete are often equated with “quality.” However, mounting pressure around performance, compliance, and quality standards is driving more widespread use of technology to enhance efficiency and project management.
From a sustainability perspective, an emerging debate – particularly influenced by the new US administration’s emphasis on profitability (“drill, baby, drill”) – is challenging what some perceive as overly restrictive “green” measures. This dynamic is expected to refocus sustainability efforts on practical, straightforward solutions with improved materials. Indeed, real sustainability translates into quality, which is ultimately valued by the end-user. While opinions may vary, market demand is likely to standardize sustainability as a core principle.
Within this context, BuildGreen is committed to maintaining and expanding its leadership role. We provide advisory services that bridge regulations, sustainability objectives, and business strategies. Our expertise in certifications, decarbonization, and EU compliance helps developers’ future-proof their projects and remain competitive.
How are EU climate goals and sustainability regulations influencing the construction and real estate markets in Romania in 2025 and what sectors or types of buildings are seeing the fastest adoption of sustainable practices in Romania?
In 2025, the Romanian construction and real estate markets continue to evolve under the influence of EU climate goals and sustainability regulations. While the legislative framework remains largely stable, with only minor adjustments in reporting requirements, regulatory expectations and market trends are gradually shaping new standards. The most notable changes include refinements to reporting obligations and updates to BREEAM and LEED certification schemes, ensuring better alignment with EU sustainability policies. These revisions are not dramatically stricter but provide greater clarity for stakeholders, supporting a smoother transition toward more sustainable practices.
Rather than imposing disruptive shifts, the updated certification frameworks introduce incremental performance improvements, allowing the market to adapt progressively. Romania has historically been ahead of the curve in adopting voluntary sustainability initiatives, with developers and investors recognizing the competitive and financial advantages of green building practices. Given that many projects already comply with nZEB requirements, the current regulatory refinement’s function more as enhancements to performance tracking and reporting than as fundamental changes to construction methodologies.
The commercial and office sectors remain at the forefront of sustainability adoption, driven by investor expectations, regulatory incentives, and the increasing demand for certified green buildings. High-end residential and mixed-use developments, while traditionally slower to embrace sustainability, are now incorporating more energy-efficient and low-carbon design elements. This growing emphasis on sustainability is transforming the real estate landscape, positioning green development as a key competitive advantage across a broader range of property types.
How do you see the balance between cost and sustainability evolving in 2025? Are developers willing to invest more in green solutions, or is affordability still a key challenge?
By 2025, the balance between cost and sustainability continues to evolve, with green solutions becoming a standard component of real estate development rather than an optional add-on. While no developer is eager to invest more without a clear return, the financial case for sustainability is stronger than ever. Developers incorporate sustainability not out of obligation but because it enhances the business case—improving asset value, increasing profitability, and ensuring long-term competitiveness.
The rising costs of energy and resources have reinforced the financial benefits of energy-efficient buildings, making sustainability a driver of operational savings rather than a burden. Affordability is no longer just about minimizing upfront costs but about optimizing long-term value. The focus has shifted toward lifecycle assessments, where energy efficiency, maintenance costs, and regulatory resilience play a key role in financial decision-making.
Market demand and financing options have also evolved. With investors and tenants prioritizing green-certified buildings, sustainability is now a key factor in asset desirability and marketability. At the same time, access to green financing and sustainability-linked loans has improved, making it easier for developers to integrate sustainability measures without significantly impacting their initial budgets.
Ultimately, cost and sustainability are no longer opposing forces but interdependent factors that drive smart investment decisions. Developers who integrate sustainability strategically are not just meeting regulatory requirements; they are future proofing their assets and maximizing returns in a market that increasingly values long-term resilience.
2025 Trends with Alejandro Solano, Hercesa Româniahttps://brec.ro/wp-content/uploads/2025/02/Alejandro_Solano4-scaled.jpg1200600BUCHAREST REAL ESTATE CLUBBUCHAREST REAL ESTATE CLUBhttps://brec.ro/wp-content/uploads/2025/02/Alejandro_Solano4-scaled.jpg
24.02.2025
Alejandro Solano, General Manager of Hercesa Internacional
What were the main business results for 2024?
Hercesa România had a strong performance in 2024, achieving significant milestones in its key projects, Stellaris Residencias and Vivenda Residencias. In the Stellaris project, the company obtained the occupancy permit for the 129 apartments in the first building of the first phase and began delivering units to clients. Construction of the second building started in April 2024. In Vivenda Residencias, the company received the occupancy permit for Block L, comprising 80 apartments with three and four rooms, and commenced construction on Block D, which will include 400 apartments and will be completed in 2026. Despite rising construction costs and financial challenges, Hercesa successfully managed to balance costs and product quality while integrating energy efficient solutions, consolidating its position in the Romanian real estate market.
What are the company’s business targets and plans for 2025?
In 2025, Hercesa România aims to expand its footprint in the Romanian real estate market while maintaining its focus on quality, durability and energy efficiency. The company will continue construction on the second building of Stellaris and Block D in Vivenda, adding over 500 apartments to the market. A key priority is the expansion of energy-efficient housing solutions, including smart home systems, sustainable materials, and advanced heating and cooling systems. These will no longer be optional but will become part of the standard offering in selected new developments. Additionally, the company is exploring new real estate segments, particularly in the suburban areas of Bucharest, where demand for modern, energy-efficient homes is rising. Hercesa is also actively seeking new land acquisitions in Sector 6 and near the Vivenda area. Moreover, the company is evaluating potential investments in logistics and infrastructure projects, responding to the growing demand for modern logistics spaces.
What are the main challenges & opportunities for the real estate market in 2025?
The Romanian real estate market in 2025 will face several challenges, including rising housing costs driven by inflation, the implementation of new smart technologies and increasing building material prices. However, this also presents an opportunity, as buyers are shifting their focus from price alone to factors such as quality, location, and long-term durability. Developers who integrate modern, energy-efficient solutions and smart home technologies will gain a competitive edge. Additionally, the demand for housing in Bucharest remains high, driven by urban migration, population growth, and the need to upgrade the aging housing stock. The necessity to modernize buildings, improve seismic resistance, and enhance energy efficiency will be key factors shaping the market in 2025.
What economic pressures (e.g., inflation, material costs) or regulatory changes do you anticipate impacting the market in 2025, and how is your company preparing for them?
In 2025, the real estate market is expected to face ongoing economic pressures, including inflation, rising building material costs, and regulatory changes that could impact project execution. Higher construction costs and stricter taxation and compliance requirements will make project management more complex, potentially leading to market consolidation as weaker players exit the sector. However, this shift could contribute to a more stable and quality-driven industry.
To navigate these challenges, Hercesa România is implementing a cost-control strategy while maintaining a strong focus on product quality and sustainability. The company is committed to avoiding opportunistic price increases, ensuring that any cost adjustments are justified by improvements in quality standards and energy efficiency. Looking at the long term, Hercesa sees stability and structured growth as key factors in an evolving market. By integrating sustainable building practices and maintaining financial discipline, the company aims to deliver high-quality, modern homes while adapting to the economic and regulatory complexities of 2025.
2025 Trends with Mauricio Mesa Gomez, Cordia Româniahttps://brec.ro/wp-content/uploads/2025/02/Mauricio-Mesa-Gomez-scaled.jpeg1200600BUCHAREST REAL ESTATE CLUBBUCHAREST REAL ESTATE CLUBhttps://brec.ro/wp-content/uploads/2025/02/Mauricio-Mesa-Gomez-scaled.jpeg
24.02.2025
Mauricio Mesa Gomez, Country Manager of Cordia România & Spain
What were the main business results for 2024?
In 2024, a major milestone for Cordia România was the full sale of the Parcului20 project.
Internationally, Cordia also achieved significant growth. The company successfully delivered 116 luxury apartments in Jade Tower, Fuengirola, Spain, further reinforcing its presence in the Spanish market, and is now preparing a new project there. In Hungary, the Marina City project in Budapest continued to make progress, positioning itself as a landmark sustainable development along the Danube River. While permitting delays remained a challenge in Romania, the strong demand for high-quality housing allowed Cordia to maintain a steady sales performance, reaffirming the strength of its brand and market positioning.
What are the company’s business targets and plans for 2025?
Looking ahead to 2025, Cordia aims to expand its residential portfolio in both Romania and international markets. In Bucharest, the company plans to launch new residential projects, contingent on the stabilization of urban planning regulations. These developments will focus on durability, energy efficiency, and seamless integration with the city’s infrastructure, ensuring that they meet the evolving needs of modern homebuyers.
Cordia’s international expansion will also continue at a strong pace. In Hungary, the company plans to introduce over 1,000 new apartments on the Budapest market, with a significant portion being part of the Marina City development. Other major projects include the expansion of Sasad Resort and the next phase of the Thermal Zugló project in Budapest.
What are the main challenges & opportunities for the real estate market in 2025?
The Romanian real estate market is expected to maintain its momentum in 2025, driven by sustained demand in the medium and medium-high residential segments. However, one of the most pressing issues remains the complexity and delays in obtaining building permits, which hinder the timely launch of new projects. Additionally, economic pressures, including a potential increase in VAT and the removal of tax incentives for construction workers, could lead to higher costs for developers and reduced affordability for buyers. Financing constraints and rising material costs further add to the uncertainty.
Despite these challenges, the market also presents significant opportunities. Demand for high-quality, sustainable housing continues to rise, with buyers increasingly prioritizing energy efficiency and smart home technologies. This trend offers developers a chance to differentiate their projects and attract buyers looking for long-term value.
The stabilization of urban planning regulations and improved collaboration with local authorities in Bucharest could also help streamline project approvals and create a more favorable investment climate.
What economic pressures (e.g., inflation, material costs) or regulatory changes do you anticipate impacting the market in 2025, and how is your company preparing for them?
The Romanian real estate sector in 2025 is expected to face a mix of economic and regulatory pressures that could impact both developers and buyers. One of the key concerns is the potential increase in VAT, which could make housing less affordable for certain buyer segments. Additionally, the removal of tax incentives for construction workers is likely to raise labor costs, which, combined with the ongoing rise in material prices, could push overall development costs higher. The uncertainty surrounding urban planning approvals also remains a significant challenge, affecting the pace at which new projects can be launched.
2025 Trends with Costin Nistor, Fortim Trusted Advisorshttps://brec.ro/wp-content/uploads/2025/02/Costin_Nistor_Fortim_Trusted_Advisors_Paribas_BNP-3-1-scaled.jpg1200600BUCHAREST REAL ESTATE CLUBBUCHAREST REAL ESTATE CLUBhttps://brec.ro/wp-content/uploads/2025/02/Costin_Nistor_Fortim_Trusted_Advisors_Paribas_BNP-3-1-scaled.jpg
The companies of the Fortim lines achieved a turnover of RON 11 million in 2024, an increase of 37% compared to 2023, thanks to the diversification of our portfolio of services. The organic growth of our business has been driven by the development of new businesses such as residential sales, Real Estate marketing & PR services for strategic partners, Project Management. The Property Management and Advisory divisions, which include consultancy services in the office, industrial, capital markets, valuation and research segments, performed well.
In 2025, we estimate a similar turnover, with a slight increase. We are in negotiations for significant transactions, encompassing both capital markets and customised solutions. We are optimistic that the current political challenges will be overcame.
What are the main challenges & opportunities for the office market in 2025?
Romania’s image among international investors will be the main challenge of 2025. The political context also has effects on the real estate market in Romania, given that political stability and government predictability are essential factors for investor and buyer confidence. Let’s hope that this challenge will be overcome in the first part of the year.
There are more opportunities than challenges. An advantage of 2025 is Romania’s full accession to the Schengen area, which will lead to the facilitation of trade and the transformation of Romania into a hub in the region. Another opportunity for investors is the progression of the commercial real estate market in Romania, with increasing demand in the retail, hotel and residential segments. In the emerging office market, you’ll find some rare opportunities to invest.
Also, the upcoming legislation for REITs will lead to a greater flow of capital, attracted from domestic funds and to the listing of more real estate companies on the stock exchange. The direct effects for end consumers will be the professionalization of the rental living space, through the emergence of more investors in rental housing and the improvement of working conditions, through the development of new office buildings, shopping centers and industrial spaces.
2025 Trends with Ionel Purice, Genesis Propertyhttps://brec.ro/wp-content/uploads/2025/02/Ionel-Purice_CEO_Genesis-Property-scaled.jpg1200600BUCHAREST REAL ESTATE CLUBBUCHAREST REAL ESTATE CLUBhttps://brec.ro/wp-content/uploads/2025/02/Ionel-Purice_CEO_Genesis-Property-scaled.jpg
13.02.2025
Ionel Purice, CEO, Genesis Property
What were the main business results for 2024?
In 2024, Genesis Property reached remarkable milestones that reflect our commitment to growth, innovation, and sustainability. We strengthened partnerships with our tenants, adapting to their evolving needs and ensuring stable, sustainable business growth. This year marked strong performance and laid a solid foundation for our future.
A highlight of 2024 was receiving GRESB recognition, making us the first real estate company in Romania to achieve the prestigious “Green Star” certification. This achievement underscores our dedication to sustainability and environmental stewardship. Additionally, Building F in YUNITY Park earned the BREEAM Outstanding certification, with several other buildings progressing through advanced certification stages. Founded by entrepreneur Liviu Tudor, Genesis Property continues to champion community development and set new standards for the workplace of the future.
What are the company’s business targets and plans for 2025?
Looking ahead to 2025, our focus is on completing the third phase of YUNITY Park – the Innovation Center. This strategic project represents a €20 million investment and builds on the success of the first two phases, which saw over €30 million invested by 2023. The Innovation Center will elevate our ability to offer cutting-edge, adaptable workspaces that cater to the evolving needs of modern businesses.
Beyond expansion, we’re prioritizing modernization. By integrating smart solutions and upgrading existing facilities, we’re enhancing operational efficiency and tenant experiences. We are also staying ahead of regulatory developments, aligning with the latest European reporting standards to ensure transparency and operational excellence.
For Genesis Property, 2025 is about driving growth, embracing modernization, and delivering future-ready real estate solutions that empower business success.
What are the main challenges & opportunities for the office market in 2025?
The office market landscape is evolving as companies rethink their workplace strategies. While demand for modern office spaces in Bucharest remains strong, the focus has shifted towards environments that foster collaboration and employee well-being. The traditional desk-centric model is giving way to dynamic workspaces with relaxation areas, collaborative hubs, and multimedia zones designed to inspire engagement and productivity.
How will Romania’s economic outlook, labor market trends, and regulatory changes affect office space absorption rates and new project launches in 2025?
Office space absorption and new project launches in 2025 will be influenced by a mix of economic conditions, labor market trends, and regulatory changes. Romania’s macroeconomic stability and business climate will play pivotal roles in shaping office space demand. Steady economic growth will encourage companies to expand and invest in premium office environments. Conversely, a limited pipeline of new developments may lead to supply-demand imbalances, potentially driving up rental prices.
The workforce’s growing emphasis on flexibility, well-being, and high-quality work environments will push businesses to seek office solutions that offer compelling reasons for employees to return. This shift will concentrate demand on modern, experience-driven workspaces. However, retrofitting existing office stock to meet these new expectations requires significant investment, posing challenges for landlords and developers alike.
In this dynamic landscape, developers and landlords must strike a balance between cost-efficiency, innovation, and sustainability. Companies will increasingly prioritize quality over quantity, focusing on workspaces that enhance employee experiences and support long-term business success.
2025 Trends with Ionuț Negoiță, HILS Developmenthttps://brec.ro/wp-content/uploads/2025/02/I.-Negoita-scaled.jpg1200600BUCHAREST REAL ESTATE CLUBBUCHAREST REAL ESTATE CLUBhttps://brec.ro/wp-content/uploads/2025/02/I.-Negoita-scaled.jpg
07.02.2025
Ionuț Negoiță, Founder & CEO, HILS Development
What were the main business results for 2024?
HILS Development performed well both in terms of sales, profitability, and impact in newly created communities.
2024 was a solid year, with a healthy growth, managing to record an increase in turnover by about 30% compared to 2023. Last year we had 1,035 finalized apartments, 96,000 sqm built and 8,700 sqm of green spaces and playgrounds.
Operationally, we continued to deliver quality residential projects, meeting deadlines and maintaining high standards of efficiency and sustainability. We also strengthened our relationship with our communities through events and social responsibility initiatives.
What are the company’s business targets and plans for 2025?
In 2025, we aim to focus more and more on community development, providing sustainable and energy-efficient residential projects. We continue at the pace we set for the development of announced projects, such as HILS Sunrise, HILS Titanium, and we are preparing the launch of phase 2 for HILS Republica. We also aim to expand to other areas of the Capital in 2025. We are pleased with the effervescence of the communities created around the residential complexes we built in the Pallady area and we are confident that we can replicate this way of life – beneficial both at an individual and community level – in other areas of Bucharest.
We also want to expand our team of new professionals, both for construction sites and offices, and to invest in the digitalization of processes to improve the customer experience, from virtual viewing of apartments to after-sales.
Another goal is to strengthen our market position by actively engaging in sustainability initiatives, education and supporting urban communities. We want each residential project we develop to contribute to the transformation of the urban landscape and bring added value to the city’s residents.
What are the main challenges & opportunities for the residential market in 2025?
The residential market will face both challenges and opportunities in 2025, which will shape the purchasing behavior of Romanians and, consequently, the business plans of developers. The increase in the costs of construction materials, economic fluctuations, but also tax and legislative changes, can influence customers’ purchasing decisions.
On the other hand, the digitalization of real estate processes and the increased interest in sustainable housing create opportunities for developers to innovate, streamline and attract an increasingly better-informed public.
Adapting to new regulations and requirements related to sustainability and energy efficiency, such as the implementation of the nZEB (nearly Zero Energy Buildings) standard, will also influence the residential market. These standards increase development costs but offer long-term benefits for the environment and the quality of life of tenants. HILS Development aims to respond to these challenges through innovative projects, both in the East area where we already have a series of completed or under development residential projects, and in other neighborhoods in the Capital.
2025 Trends with Ioana Roman, Filip & Companyhttps://brec.ro/wp-content/uploads/2025/02/Ioana-Roman-scaled.jpg1200600BUCHAREST REAL ESTATE CLUBBUCHAREST REAL ESTATE CLUBhttps://brec.ro/wp-content/uploads/2025/02/Ioana-Roman-scaled.jpg
06.02.2025
Ioana Roman, Filip & Company
What were the main business results for 2024?
From a legal perspective, 2024 was marked by a resurgence in real estate transactions, particularly in the industrial and retail sectors. We assisted clients in navigating complex acquisitions, lease agreements, and regulatory compliance, particularly in transactions involving ESG-compliant properties. While the office sector remained slow, investment in logistics and prime retail assets drove market activity, requiring careful legal structuring to mitigate risks associated with financing and permitting challenges.
What are the company’s business targets and plans for 2025?
Our firm’s focus for 2025 will be on providing strategic legal advisory in real estate investments, infrastructure developments, and asset repositioning projects. Given the increasing emphasis on sustainability and ESG regulations, we are strengthening our expertise in green leases, urban regeneration, and compliance with new regulatory frameworks. Additionally, we anticipate moderate increased M&A activity in real estate, requiring sophisticated structuring and risk assessment for cross-border investors.
What are the most significant legal and regulatory changes impacting the Romanian real estate market in 2025, and how should developers and investors prepare for them?
The regulatory landscape is shifting toward stricter environmental and sustainability requirements, influencing both new developments and existing asset management strategies. Taxation changes and fiscal adjustments following the 2024 elections may impact financing structures and transaction costs. Additionally, potential zoning law reforms and digitalization of permitting processes could streamline, but also complicate, development timelines. Particularly for Bucharest, the draft of the new general urban plan is still pending, being currently delayed due to the preparation and correlation of various studies. Its approval would represent, though, a game changer for the current real estate scenery, which is marked by a perpetual blockage due to the suspension and cancellation of the sector zonal urban plans and specifically due to the central municipality’s reluctance in approving any sort of new zonal urban plan.
All the more, investors, developers and practitioners alike are aiming for the approval of the Urbanism Code, which is aimed to revolutionize many of the old approval procedures for urban plans and regulations, as well as to facilitate the development of real estate projects, for example based on detailed urban plans instead of zonal urban plans, as well as via a simplified submission process through a centralized and transparent plaform.
Investors and developers should conduct proactive legal due diligence and seek expert guidance to anticipate compliance risks and secure project approvals efficiently.
Which areas or segments of the Romanian real estate market (residential, commercial, industrial) are facing the most legal complexity in 2025?
The office sector faces challenges related to lease renegotiations, space optimization, and tenant rights under evolving workplace regulations. Industrial and logistics transactions involve increasing complexity due to ESG standards, land use constraints, and supply chain regulatory shifts. Meanwhile, the residential sector is dealing with supply shortages, financing hurdles, and stricter urban planning policies, which require careful structuring of acquisitions and permitting strategies. Our role is to help clients mitigate legal risks and structure their deals to align with the latest legislative developments and market developments and trends.
