In the Spotlight

In the Spotlight

Leading consulting firm BearingPoint moved its Bucharest office in Timpuri Noi Square
Leading consulting firm BearingPoint moved its Bucharest office in Timpuri Noi Square 1067 600 BUCHAREST REAL ESTATE CLUB

BearingPoint, an independent management and technology consultancy with European roots, relocated its Bucharest office to Timpuri Noi Square, the flagship office development of Vastint Romania.

Headquartered in Amsterdam, the management and technology consulting firm has 46 offices in 24 countries.  BearingPoint has been present in Romania since 2007 and has achieved consistent and significant growth over its 19 years of activity. It now has a team of more than 850 employees in six offices in Romania, located in Bucharest, Braşov, Cluj-Napoca, Iaşi, Sibiu, and Timişoara.

The company supports clients in transforming their business digitizing and automating their processes, shifting to data-driven ways of working, and implementing AI within workflows.

“The Timpuri Noi Square office offers our colleagues in Bucharest a modern, accessible environment that mirrors our values. It reflects the way we collaborate, stay connected, and support each other every day. I appreciate the energy people bring into the office and the way the environment helps ideas and teamwork come to life. It’s a place that keeps us grounded, productive, and close as a community.” stated Katharina Bota, Leader BearingPoint Romania, Czech Republic, Portugal, and India.

“We are pleased to have BearingPoint as a tenant to Timpuri Noi Square, a project designed to support companies that value performance, collaboration and long-term growth. Their decision reflects not only the quality of the space, but also the strength of the community we are building here. Alongside a diverse mix of international companies already present in the project, BearingPoint is part of a dynamic business ecosystem here that encourages interaction, knowledge sharing and innovation. As one of the most ambitious urban regeneration projects in Bucharest, Timpuri Noi Square is reshaping the way people experience the workplace. It is more than an office destination – it is a place where companies can connect, evolve and create meaningful experiences for their teams”, said Sorin Macoveiu, Commercial Manager Vastint Romania.

The lease transaction was facilitated by the advisory company Griffes.

“Companies are no longer looking for just an office, but for an environment that supports performance and talent retention. BearingPoint’s relocation to Timpuri Noi Square illustrates this shift in paradigm, while also signaling the strengthening demand for top-tier assets in the Bucharest market. We are pleased to have partnered with BearingPoint in shaping their real estate strategy,” said Andreea Păun, Managing Partner of Griffes.

Vastint Romania is currently the real estate company with the largest active office construction site in Bucharest. Timpuri Noi Square 2, located in the center-south area of Bucharest, is the biggest office project under construction in the city, adding 60,000 sqm of leasable area (GLA) to the existing 52,100 sqm of Timpuri Noi Square 1 (which has a 100% occupancy rate). TNS 2 also includes the largest food hall in an office building (6,000 sqm). The project is scheduled for completion in Q4 2026 and will provide 690 parking spaces. The works have reached 95% completion, with the structure fully finalized for TNO5, where work is currently ongoing on the façade, installations, and architectural finishes. Meanwhile, at TNO4, the last floor has been poured, and the reinforced concrete works are being finalized.

Around 1,000 people are involved in the construction of TNS 2. In addition, the developer has decided to expand TNS 1 with The Venue – a fully equipped conference center, which includes 400 sqm of indoor space and an exclusive 300 sqm terrace. The Venue is nearing completion and will become fully operational starting this spring, being accessible to both tenants and external companies.

2026 Trends with Fulga Dinu, CPI Property Group Romania
2026 Trends with Fulga Dinu, CPI Property Group Romania 579 600 BUCHAREST REAL ESTATE CLUB

18.03.2026

Fulga Dinu, Country Manager, CPI Property Group Romania

What are your company’s business targets and plans for 2026?

Our main priority generally is to continually increase the relevance and resilience of our portfolio.

For the retail segment, we will continue upgrading our properties in line with the ever evolving consumer behavior, the growing demand for diversified services, and the need to enhance the shopping experience. We also focus on refreshing the tenant mix in order to drive higher footfall and strengthen the long-term competitiveness of our shopping centers.

For the office segment, we are expanding our ESG-driven measures while continuing to diversify the space usage by integrating private healthcare operators alongside traditional corporate tenants. Relevant examples include Nord Hospital at myhive IRIDE | eighteen, Băneasa Tumor Hospital, recently launched by Leventer Group at myhive Victoria Park, and Regina Maria at Băneasa Airport Tower. Today, more than 10% of our office portfolio is dedicated to medical services through long-term partnerships, some exceeding 20 years.

WWhat were the main business results for 2025?

In 2025, CPI Romania delivered very strong results, particularly in the leasing activity.

Within our local office portfolio, we secured a total of 55,000 sqm of leased space. Demand remained stable, following the trend of recent years, with lease renewals exceeding new take-up. Importantly, we recorded long-term renewals, often accompanied by space expansions, as well as renewed interest and new market entries from international companies: clear signs of continued confidence in the Romanian office market despite a challenging macroeconomic environment.

In retail, our 250,000 sqm portfolio continued to strengthen following the refurbishments, the reconfigurations, and the entry of major international brands into our portfolio. Notable milestones include the opening of the first Primark in VIVO! Cluj-Napoca, the ongoing refurbishment process of Sun Plaza, which includes the reopening of Pull&Bear and Zara stores, and the announced 7.000 sqm Auchan hypermarket and a fashion hub on an area of 16.000 sqm. We also completed a remodeling and extension process of Peek & Cloppenburg in Constanța, now operating a modern 2,500 sqm format.

Overall, 2025 was a dynamic year, marked by solid leasing performance, long-term tenant commitments, and continued investment in upgrading and strengthening our retail destinations.

What do you see as the main risks for the Romanian real estate market in 2026?

One of the main risks for the Romanian real estate market in 2026 remains the lack of predictability, which continues to affect the overall business environment. Romania is a market that requires constant attention, rapid adaptability, resilience, and firm decision-making. In this context, flexibility and a deep understanding of local dynamics are essential to successfully navigate 2026.

Where do you see the most attractive opportunities for growth in 2026?

In the office segment, limited new supply and high development costs are expected to create a favorable context for landlords. In retail, although consumption may remain under pressure, due to the recently adopted financial measures, dominant schemes with strong catchment areas are likely to remain stable and continue attracting both tenants and customers.

EBRD signs €40 million guarantee with Libra Internet Bank in Romania
EBRD signs €40 million guarantee with Libra Internet Bank in Romania 1200 722 BUCHAREST REAL ESTATE CLUB
  • EBRD signs its first InvestEU facility in Romania’s financial sector with Libra Internet Bank
  • Libra Internet Bank to expand green lending for buildings and transport
  • Project supports Romania’s climate goals and EBRD’s green transition priorities

The European Bank for Reconstruction and Development (EBRD) is partnering with Libra Internet Bank S.A. to provide a portfolio guarantee of up to €40 million under the InvestEU programme, supported by funding from the Romanian Recovery and Resilience Facility. This is its first InvestEU facility in Romania’s financial sector.

This innovative risk-sharing instrument will enable Libra to scale up financing for green projects in Romania, focusing on energy-efficient buildings and sustainable transport, and will help bridge the funding gap for sustainable energy investments to support Romania’s transition to a low-carbon economy.

The EBRD’s guarantee will enable Libra to allocate €50 million to eligible green projects, ensuring a strong impact on energy savings and emissions reduction.

Libra Internet Bank, a mid-sized Romanian bank, has a strong track record in digital innovation and solid and increasing interest in green financing. EBRD support will enhance Libra’s ability to expand its role in Romania’s green economy.InvestEU is a flagship initiative of the European Union aimed at supporting strategic investments in sustainable infrastructure, research, innovation, digitalisation, small and medium-sized businesses, and social investment and skills. It provides a guarantee mechanism to unlock financing that might not otherwise be available, focusing on projects that promote long-term growth and resilience.

The EBRD is one of the leading implementing partners of the InvestEU Programme and deploys portfolio risk sharing instruments for financial intermediaries across the EU economies where it invests. By working with local financial institutions and market players, it ensures that InvestEU support is delivered efficiently and aligned with regional needs and opportunities.

EBRD Head of Romania Victoria Zinchuk said: “This agreement with Libra Internet Bank is an important boost for Romania’s green transition. By broadening access to finance for energyefficient buildings and cleaner transport, we are helping Romanian households and businesses save costs, reduce emissions, and become greener and more sustainable. Through InvestEU, together with Libra Internet Bank, we are proud to support investments that strengthen Romania’s resilience and enhance its longterm competitiveness.”

“The partnership between Libra Internet Bank and the European Bank for Reconstruction and Development for financing green projects in Romania reaffirms our strong commitment to supporting the transition towards a low‑carbon economy. Together with the EBRD, one of Romania’s leading institutional investors, we will turn business plans into achievements that benefit our clients, the environment, and our communities,” said Cristina Mahika‑Voiconi, CEO of Libra Internet Bank.

Alongside the guarantee, to strengthen green lending operations, EBRD will also deliver to Libra and final borrowers dedicated technical assistance funded through the InvestEU Advisory Hub. The project will be complemented by the EBRD’s Digital Transformation Support Programme, to help Libra build internal AI capacity to optimise customer experience.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery and growth. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition.

The EBRD is a major institutional investor in Romania. To date it has invested more than €12.4 billion in 589 projects.

2026 Trends with Ioana Țălnariu, Voelkel Real Estate
2026 Trends with Ioana Țălnariu, Voelkel Real Estate 603 600 BUCHAREST REAL ESTATE CLUB

26.02.2026

Ioana Țălnariu, Voelkel Real Estate Romania

What were the main business results for 2025?

For VÖLKEL Real Estate Group, 2025 was a strong growth year for VÖLKEL Real Estate Group. We secured several high-profile management mandates for landmark mixed-use properties in prime German city-center locations, including the Kaufmannshaus in Hamburg, the former stilwerk building in Düsseldorf, and the Gäubodenpark in Straubing. These projects further strengthened our position as a specialist for complex, mixed-use commercial assets with development potential.

For VÖLKEL Real Estate Romania, 2025 marked our market entry phase. We launched the first tenders for Center Management, Property Management, and Accounting services and began negotiations for our initial mandates. In parallel, we started a strategic AI collaboration to increase operational efficiency and scalability from the outset.

What are the company’s business targets and plans for 2026?

Our key objective for 2026 is to expand our footprint in the Romanian market and establish VÖLKEL as a trusted provider of professional Center Management, Property Management, and Accounting services. We will focus on retail, logistics, shopping centers, and office assets.
Strategically, we will continue integrating AI-driven tools into daily operations to improve efficiency, remain price-competitive, and reduce operational risk.

WWhat economic pressures or regulatory and fiscal changes do you anticipate impacting the market in 2026, and how is your company preparing for them?

Across both Germany and Romania, we expect continued pressure from interest rates, inflation-driven operating costs, workforce shortages, and increasing ESG and reporting requirements.
In Romania specifically, ongoing regulatory alignment with EU standards and potential fiscal adjustments will shape the market. We are preparing through digitalization, standardized processes, and flexible operating models, allowing us to respond quickly while maintaining service quality.

What do you see as the main risks for the Romanian real estate market in 2026? Where do you see the most attractive opportunities for growth?

The main risks are macroeconomic volatility, rising costs, and inconsistent management standards across the market.
At the same time, the biggest opportunity lies in the growing demand for professional, transparent, and technology-driven real estate management, particularly in retail parks, logistics, and well-located office properties.

Which players or strategies are going to be winners in 2026?

The winners will be agile players who adapt quickly to economic change, invest in digitalization and AI, and deliver integrated, high-quality management services. Companies that combine local market knowledge with international best practices and a strong focus on efficiency will clearly outperform.

2026 Trends with Alexandros Diamantis, Medcity
2026 Trends with Alexandros Diamantis, Medcity 1200 600 BUCHAREST REAL ESTATE CLUB

24.02.2026

Alexandros Diamantis, Managing Director, Medcity

What were the main business results for 2025?

2025 marked an important milestone for our company through the successful completion of the Timisoara project, which added a new facility to the MEDCITY network and expanded our footprint in one of Romania’s strongest regional healthcare markets.

This new location strengthens our national presence and reinforces our positioning as the only developer in South-Eastern Europe dedicated exclusively to medical infrastructure.

What are the company’s business targets and plans for 2026?

n 2026, our focus will be twofold.

First, we aim to consolidate the performance of our existing medical portfolio and continue expanding our healthcare real estate platform.

Second, we are actively exploring and analyzing entry into the office segment, assessing how our expertise in compliance-driven, high-specification developments could translate into adjacent asset classes. This represents a strategic diversification opportunity, while maintaining our core strengths in quality, safety and long-term tenant partnerships.

WWhat economic pressures or regulatory and fiscal changes do you anticipate impacting the market in 2026, and how is your company preparing for them?

We expect inflationary pressures to gradually ease compared to previous years. However, the fiscal measures and increased taxation introduced last year may continue to weigh on consumption and investment appetite across the economy.

That said, our business model has proven resilient in such environments. Healthcare real estate benefits from structural, non-cyclical demand, as medical services remain essential regardless of broader economic fluctuations.

We prepare by:

  • maintaining conservative financial planning,
  • securing long-term leases,
  • focusing on operational efficiency, and
  • prioritizing locations and tenants with stable fundamentals.

This disciplined approach allows us to mitigate volatility and protect occupancy levels.

What do you see as the main risks for the Romanian real estate market in 2026? Where do you see the most attractive opportunities for growth?

The main risks we foresee include:

  • slower residential development due to affordability constraints and higher prices,
  • workforce reductions in certain sectors, particularly IT, which could reduce office space demand,
  • and overall caution from investors in a still-uncertain macroeconomic climate.

However, opportunities remain strong in specialized and needs-based segments.

We see continued growth potential in:

  • healthcare real estate,
  • and custom-built, compliance-ready spaces where demand is driven by long-term demographic trends rather than short-term cycles.

These sectors offer more stability and predictable occupancy compared to traditional real estate classes.

Which players or strategies are going to be winners in 2026?

The winners will likely be developers and investors who:

  • focus on specialized, resilient asset classes rather than generic supply,
  • prioritize long-term tenant partnerships over speculative development,
  • maintain financial discipline,
  • and deliver high-quality, compliant spaces tailored to operators’ operational needs.

In our view, real estate strategies built around essential services — such as healthcare — will continue to outperform, as they combine social relevance with strong, defensive fundamentals.

2026 Trends with Lucian Grosaru, Sema Real Estate
2026 Trends with Lucian Grosaru, Sema Real Estate 1200 600 BUCHAREST REAL ESTATE CLUB

24.02.2026

Lucian Grosaru, CEO, Sema Real Estate

What were the main business results for 2025?

2025 was a breakthrough year. We launched Sema Home, our first residential development, and the market response has been exceptional.

Pre-sales opened in mid-October. By now, buyers have already reserved more than a third of the 301 apartments. That speed confirms strong market demand.

What we are seeing is validation of our core thesis: buyers increasingly prioritize location, transit access, and integrated amenities over standalone residential buildings. The Sema Parc Masterplan was designed around this insight, and the sales performance demonstrates that buyers value this approach.

The broader trend is clear. Mixed-use developments with functional infrastructure are gaining market share at the expense of isolated apartment towers.

What are the company’s business targets and plans for 2026?

On the residential side, we aim to maintain momentum with Sema Home by completing the first phase and preparing subsequent stages for launch. The demand is there.

Beyond that, we have two priorities. First, strengthen our office and mixed-use portfolio where we see value creation opportunities. Second, advancing the next phases of development within Sema Parc. Our strategy is to build out the full masterplan rather than pursuing scattered sites. This allows us to create genuine neighborhood value and benefit from the infrastructure and community we are establishing.

Across all activities, energy efficiency and operational performance remain central. Market expectations have shifted. Buildings that underperform on energy costs will face competitive pressure within five years.

WWhat economic pressures or regulatory and fiscal changes do you anticipate impacting the market in 2026, and how is your company preparing for them?

2026 will be challenging. Inflation persists, labor costs continue rising, and construction material prices remain volatile. Recent VAT changes and new compliance requirements added further cost pressure.

On the regulatory side, tighter market discipline rules raise standards but also increase procedural and financial complexity. This is beneficial long-term but adds immediate cost.

Our response focuses on three areas. First, disciplined financial planning with conservative assumptions. Second, flexible supplier contracts that avoid locking in unfavorable pricing. Third, diversified procurement to reduce dependency on single sources.

We are also accelerating digitalization to improve operational efficiency. While we cannot control external cost pressures, we can control our operational response to them.

What do you see as the main risks for the Romanian real estate market in 2026?

The primary risk is uncertainty. Macroeconomic instability and geopolitical tension reduce investor confidence, tighten financing conditions, and disrupt supply chains. Projects with solid fundamentals six months ago may no longer be viable.

Domestically, slow permitting processes and insufficient new residential supply create additional constraints. Construction cost volatility makes long-term project commitments difficult.

The greatest concern is developer consolidation. Projects lacking disciplined financials or conservative planning assumptions will face severe pressure. The market will reveal which developments were built on solid fundamentals versus optimistic projections.

The market will survive. Not all participants will.

Where do you see the most attractive opportunities for growth in 2026?

Location remains paramount, but context matters increasingly. The strongest opportunities are in mixed-use developments within neighborhoods that have functional infrastructure: reliable transit, utilities, and road systems.

Successful projects will reflect current lifestyle preferences rather than outdated models. Energy-efficient buildings are now baseline requirements. Buyers and tenants evaluate operating costs, and buildings with poor energy performance will lose competitive positioning.

Energy infrastructure itself represents significant opportunity. Solar installations, battery storage, and systems that reduce long-term operating costs deliver both financial returns and asset value appreciation.

The pattern is clear: projects that reduce costs, increase convenience, or improve quality of life will find demand. Undifferentiated residential products will be a struggle.

Which players or strategies are going to be winners in 2026?

Winners will be developers who execute reliably. In a difficult market, delivery capability separates viable players from the rest. This requires adequate capital, operational experience, and a verifiable track record.

Financial strength is essential. Developers who survive will be those who planned for adverse scenarios rather than only favorable outcomes. Business models dependent on optimal conditions represent excessive risk.

Successful developers also recognize that buildings must evolve. Mixed-use spreads risk. Energy efficiency protects value. These are requirements, not preferences.

The decisive advantage is reputation. In a cautious market, trust matters more than marketing. Developers known for on-time, on-budget delivery secure opportunities before formal negotiations begin.

French reinsurer SCOR signs deal with Vastint for its first office in Romania
French reinsurer SCOR signs deal with Vastint for its first office in Romania 960 447 BUCHAREST REAL ESTATE CLUB

Vastint Romania, part of the VASTINT Group, announces the signing of a new leasing contract. SCOR, a leading global reinsurer who just entered the Romanian market, selected Business Garden Bucharest for its first office in Romania, where it occupies a space of 2,320 sqm.

French company SCOR offers its clients a range of reinsurance and insurance solutions and services to control and manage risk. The Group generated premiums of EUR 20.1 billion in 2024 and serves clients in more than 150 countries from its 35+ offices worldwide.

“Opening our first office in Romania is a meaningful step for SCOR and a strategic investment in our long-term capabilities. Romania stands out through its strong talent base, a fast-growing tech and data ecosystem, and a truly international, business-ready mindset. We’re excited to build our presence here and to grow a team in Bucharest that will contribute to SCOR’s broader operations and transformation agenda.”, said Andrei Romanescu, General Manager SCOR Romania.

Business Garden Bucharest, located in the Orhideea-Grozavesti area of ​​Bucharest, has a rentable area of ​​43,000 sqm and tenants such as Sparkware Technologies, Sanamed, Regina Maria, Ikea, Schindler, Tchibo, Vel Pitar, Rail Cargo, Pandora.

“We’re pleased to welcome SCOR to Business Garden Bucharest as they open their first office in Romania and begin building their local presence. Today, the office is no longer only about space – it’s about experience. That’s why ‘ecosystem’ assets are increasingly in demand: office destinations that integrate amenities, services, and community features that support attendance, retention, and tenant engagement, not just an office space. At Business Garden Bucharest, we focus on exactly this blend – creating a place that works operationally, supports culture, and helps companies attract and retain people.” declared Maria Badea, Senior Leasing Manager of Vastint Romania.

Vastint’s office portfolio will expand with the upcoming Timpuri Noi Square 2 project, set for completion in Q4 2026. This development, currently one of the few office projects under construction in Bucharest, will add 60,000 sqm (GLA) and introduce two new office buildings, effectively doubling the available office and retail space within the Timpuri Noi Square complex.

2026 Trends with Dan Crăciunescu, West Group
2026 Trends with Dan Crăciunescu, West Group 900 600 BUCHAREST REAL ESTATE CLUB

19.02.2026

Dan Crăciunescu, Founder, West Group

What were the main business results for 2025?

In 2025, we accelerated our growth and diversification across Romania and Germany, supported by an integrated model that combines construction, materials and development.

In the first nine months of the year, West Group recorded consolidated revenues of over €65 million, which already exceeded the annual objective we set at the beginning of 2025. We operated with over 800 colleagues across 25 active projects and our revenue mix showed a healthy diversification. The largest share came from Civil & Industrial Construction, followed by Concrete Production and then Real Estate & Logistics Development.

A major strategic step for us was the full acquisition of the iResidence residential project in August 2025, which strengthened our development platform and our ability to control delivery quality end-to-end.

What are the company’s business targets and plans for 2026?

For 2026, our target is to reach approximately €75 million in consolidated turnover. We will continue to build momentum on iResidence with a strong focus on execution discipline, regarding quality, timelines and a predictable customer journey, because in a more selective market, credibility and delivery matter more than ever.

On the materials side, through West Beton, we plan to continue modernization and regional expansion, keeping an investment envelope consistent with what we’ve been doing recently, worth over €2.5 million in 2026, similar to 2025.

In parallel, we will keep scaling and delivering complex contracts in Germany, which provide stability and volume, while continuing to strengthen our internal systems, such as procurement, planning, cost control, digitalization and sustainability, so that we remain competitive even under cost and financing pressure.

What economic pressures (e.g., inflation, interest rates, work force issues) or regulatory and fiscal changes do you anticipate impacting the market in 2026, and how is your company preparing for them?

We expect 2026 to remain shaped by inflationary pressure, high input costs, financing constraints and continued workforce and material challenges, with an added layer of uncertainty coming from the regional geopolitical context.

On top of that, the regulatory framework is becoming more demanding, and we should assume that fiscal changes and compliance requirements will continue to influence costs, timelines and the bankability of projects. Our preparation is very practical.  We secure critical resources earlier, we centralize procurement to reduce exposure to volatility and we run tighter budgeting and scheduling so we can protect delivery even when conditions change.

A major change we’re addressing head-on is the shift in how residential projects are financed and how buyers and banks evaluate them under Law 207/2025. We are actively strengthening our banking partnerships and working with more structured, lender-ready financing solutions, such as pre-approved credit lines, because the market advances toward models that require stronger governance and traceability.

What do you see as the main risks for the Romanian real estate market in 2026? Where do you see the most attractive opportunities for growth in 2026?

The biggest risks are fiscal and legislative unpredictability, the higher cost of capital and tougher lending standards, and construction-cost volatility that can hit margins and deadlines at the same time. Another risk is that the market will become less forgiving, as buyers and banks will penalize low transparency, unclear legal structures and weak project discipline faster than before. This will widen the gap between projects that are truly bankable and deliverable and projects that may look attractive on paper but cannot sustain compliance, financing and execution pressure in real life.

We see opportunity where real demand meets serious execution. In residential, the attractive lane is energy-efficient product with predictable operating costs, developed and delivered by teams that can show documentation, progress and financial discipline in a way that banks and buyers can verify.

From an operating perspective, there is also strong opportunity in supply-chain adjacency, e.g. materials, concrete production and disciplined procurement, because it provides resilience and helps manage cost risk when markets are uneven.

Which players or strategies are going to be winners in 2026?

The winners in 2026 will be the players that combine three things: financial discipline, transparency and execution capability. Strategies that will outperform are those built on bankable governance, clear legal frameworks, standardized documentation, milestone-based controls and operational rigor, meaning early procurement, cost control, and strong project management. Integrated platforms that reduce supply-chain friction will also have an edge, because they allow better predictability and faster reaction when conditions change.

2026 Trends with Costin Nistor, Fortim Trusted Advisors
2026 Trends with Costin Nistor, Fortim Trusted Advisors 621 600 BUCHAREST REAL ESTATE CLUB

19.02.2026

Costin Nistor, Managing Director, Fortim Trusted Advisors

What were the main business results for 2025?

In 2025, our Advisory business line delivered the strongest results, especially in office leasing, real estate consultancy, valuation, and capital markets.

The largest transaction of our year was a pre-lease, build-to-suit transaction for Medicana Hospital, a new entrant to the Romanian market, covering a total area of 22,000 sqm, in Nusco City.

What are the company’s business targets and plans for 2026?

In 2026, our strategic focus is on scaling the Residential business line into a fully integrated investment platform. This includes expanding our expertise across the entire value chain, from land acquisition and feasibility analysis to planning, research, and high-performing services such as sales and marketing for residential developments.

What economic pressures (e.g., inflation, interest rates, work force issues) or regulatory and fiscal changes do you anticipate impacting the market in 2026, and how is your company preparing for them?

The biggest challenge for the Romanian real estate market remains the frequent changes in taxation and fiscal regulations, along with the cascading effects of adjustments to VAT.

These shifts have a particularly strong impact on the Property Management and Residential segments. In response, our team has adopted new, fully digitalized working tools that allow for rapid system adjustments and ensure maximum transparency for our clients, whether they are owners of commercial buildings, tenants, or investors in residential developments.

What do you see as the main risks for the Romanian real estate market in 2026? Where do you see the most attractive opportunities for growth in 2026?

The biggest risk is the unpredictability of legislation, which directly impacts financing costs. This challenge can only be mitigated once inflation decreases substantially, and the business environment becomes more stable and positive. Officials at the National Bank of Romania remain optimistic and are targeting inflation below 5% in the second half of the year, which could represent a positive signal for the real estate market.

In terms of growth opportunities, retail parks continue to stand out, both from a development and acquisition perspective. The residential segment also offers solid potential, provided there is a strong focus on careful location analysis, a clear understanding of the target audience, and well-defined customer segmentation.

Which players or strategies are going to be winners in 2026?

In real estate, the companies that succeed are those that understand the need to embrace AI and digitalization, as our industry is undergoing a profound transformation. Fortim Trusted Advisors, an alliance member of the BNP Paribas, benefits from a strong competitive advantage: our shareholders are local, and we have already made the strategic decision to integrate new technologies into our workflows. This tech-driven approach delivers speed, data transparency, and smarter outcomes, creating tangible value for both our current and future clients.

2026 Trends with Cristian Năstase, Concept Structure
2026 Trends with Cristian Năstase, Concept Structure 578 600 BUCHAREST REAL ESTATE CLUB

19.02.2026

Cristian Năstase, Founding Partner, Concept Structure

What were the main business results for 2025?

We achieved an estimated 50–60% increase in revenue, driven by a broader mix of projects and expansion into new market segments, alongside continued involvement in large-scale, complex developments. Equally important, 2025 marked a step change in how the company operates: we successfully managed a significantly higher volume of active projects while maintaining quality, technical rigor, and delivery timelines. This was supported by a stronger internal structure, improved processes, and continued investment in people and technology. Beyond financial performance, one of the most meaningful results was the consolidation of long-term partnerships with major developers and design teams, confirming that we are capable of supporting complex projects at scale.

What are the company’s business targets and plans for 2026?

For 2026, our business targets are focused on performance, stability, and sustainable growth. Rather than pursuing growth in volume alone, our priority is to increase the quality and efficiency of our delivery while strengthening the organization internally. Our plans center on consolidating the growth achieved in 2025 by investing in people, processes, and technology. We aim to further improve project performance across all segments by enhancing collaboration, knowledge sharing, and decision-making within the team. At the same time, we plan to continue diversifying our portfolio, maintaining a balanced mix of private – public developments, of simple and complex, high-responsibility projects. Ultimately, our goal for 2026 is to build a stronger, more resilient organization—one that can consistently deliver high-quality engineering solutions while supporting the professional and personal growth of our team.

What economic pressures (e.g., inflation, interest rates, work force issues) or regulatory and fiscal changes do you anticipate impacting the market in 2026, and how is your company preparing for them?

In 2026, we expect ongoing pressure from inflation, interest rate volatility, and workforce constraints, alongside increasing regulatory and sustainability requirements. These factors are likely to impact investment timing, project costs, and delivery complexity. We are preparing by focusing on internal efficiency and resilience—investing in people, improving processes, and using digital tools to increase speed and predictability. A diversified project portfolio and a strong team culture allow us to remain flexible and respond effectively to market changes.

What do you see as the main risks for the Romanian real estate market in 2026? Where do you see the most attractive opportunities for growth in 2026?

In 2026, the main risks for the Romanian real estate market are linked to financing conditions, cost volatility, and regulatory uncertainty. Higher or unstable interest rates may delay investment decisions, while fluctuations in construction costs can impact project feasibility. In addition, increasing regulatory and permitting complexity may extend development timelines. At the same time, the most attractive opportunities for growth lie in well-located mixed-use projects, logistics and industrial developments, and the continued modernization of existing assets. Projects that prioritize efficiency, sustainability, and long-term value are likely to remain resilient, especially when supported by experienced development and engineering teams.

Which players or strategies are going to be winners in 2026?

The winners in 2026 will be players who combine financial discipline with technical excellence and adaptability. Developers and partners who can secure financing, control costs, and make informed decisions early in the project lifecycle will be best positioned to succeed. From a strategic perspective, companies that invest in strong teams, digitalization, and collaborative project models—bringing engineers, architects, and contractors together from the early stages—will gain a clear advantage. In a more selective market, long-term thinking, efficiency, and reliability will be the key differentiators.

Start Typing