In the Spotlight

In the Spotlight

BREC Residential Conference: 43% increase in prices for new apartments in Bucharest in the last two years
BREC Residential Conference: 43% increase in prices for new apartments in Bucharest in the last two years 900 600 BUCHAREST REAL ESTATE CLUB

18.09.2025

Prices for new housing units continue to increase in Bucharest, with data for H1 showing a 43% increase compared to the same period in 2023, respectively 14% compared to the previous year, according to an Imobiliare.ro analysis presented at the BREC RESIDENTIAL CONFERENCE event, organized on 18th of September by BREC.

The data reflects the strong discrepancy between the solid demand in the city with the highest salaries in Romania and the new supply, which has been continuously decreasing in recent years. “The quality of life in Bucharest is closely linked to access to new housing, with affordable prices and a diversified offer, in areas with modern infrastructure. We are relaunching a call for dialogue with local authorities regarding the regulation of real estate development in Bucharest, as well as harmonization with Ilfov County,” says Despina Ponomarenco, President of BREC.

The VAT increase brought new price increases. “The average price per usable square meter reached 2,258 Euros in July, respectively 2,284 Euros in August for Bucharest. The capital is ahead at the national level of cities such as Cluj-Napoca and Brașov, where the average prices for new housing are 3,139 Euros/square meter, respectively Brașov with 2,538 Euros/square meter,” says Răzvan Ionescu, CCO, Imobiliare.ro. He mentions that the price level increases significantly when we talk about well-developed areas. A new apartment, located semi-centrally, 15 minutes walk from a metro station, is traded on average for 2,600 Euro/sq m in Bucharest.

Investors present at the conference reconfirmed the opportunities that Bucharest has, but at the same time they are also looking at other cities in Romania.

Hagag Development Europe, an investor recognized for its appetite for consolidating and modernizing heritage buildings, continues to invest in residential projects in Bucharest and the metropolitan area: H East Residence and H Pipera Lake. At the same time, the investor announced that it is determined to turn its attention to other cities, considering Brașov, Cluj-Napoca and Timișoara.

AFI Romania, part of the AFI group, launched this year AFI Home North, its first Build to Rent project in Romania, in the business area of ​​Bucharest. “We are delighted with the evolution of the project and the way it was received by the market, reaching an occupancy rate of 70% in just a few months. We continue in 2026 with the second building, with 164 apartments, on Dimitrie Pompeiu Boulevard 5E, and we are expanding the concept to other areas of the Capital, namely Cotroceni,” says Luciana Giurea – Roșca, Head of Residential, AFI Romania.

In the first half of 2025 HILS Development accelerated the delivery of apartments from projects under construction and announced the full sale of apartments from the HILS Pallady and HILS Splai projects.  “Following the developments in the East part of the city, we are targeting new areas for expansion and our first project to be soon launched is in Pipera”, said, at the BREC event, Andrei Ciobotaru, the company’s Business Development Manager.

Veolia România, through its local ecosystem of companies, follows an approach that focuses on reducing carbon footprints, reusing resources and minimizing their usage and consumption, and enhancing cost efficiency. The GeoExchange solution can enable real estate developers to achieve stringent ESG benchmarks and attract green financing. Anca Călimăneanu, Project Manager, Energy Efficiency, Veolia Romania: “The solution harnesses shallow – ground geothermal energy in conjunction with high-efficiency heat pumps to provide heating*, cooling and domestic hot water, significantly lowering CO2 emissions, often up to 90% compared to conventional systems.”

InteRo Property Development, a family office focused on real estate development, is working on large residential investments, such as SkyLight Residence, Pajurei 3 Residence or SunLight Residence. The major urban regeneration development near Obor, on the former Aversa platform, – SkyLight Residence- involves the complete revitalization of the neighbourhood. “We see a more educated client, paying attention to an increasing number of criteria when choosing a new home” said Alexandra Dumitrescu, Sales Manager, during the BREC event.

The heat is on: Working on the future of home comfort
The heat is on: Working on the future of home comfort 900 600 BUCHAREST REAL ESTATE CLUB

A recent report by the European Heat Pump Association (EHPA) underscored this shift: Europe faces a growing “cooling gap” – a mismatch between rising demand for cooling and the infrastructure currently in place to deliver it. As temperatures climb and energy regulations tighten, both the HVAC industry and homeowners are being urged to adapt. But adaptation isn’t only a matter of comfort – it’s also one of climate responsibility.

This is where innovation comes into play. For forward-thinking manufacturers and solution providers, the challenge of smart heating and cooling solutions is becoming a catalyst for progress. Residential solutions – especially heat pumps and air conditioners – play an important role in achieving EU’s decarbonization goals. And with new legislation coming into effect, the time to act is now. (source: www:climate.ec.europa.eu)

The role of regulation – A catalyst for cleaner solutions

In March 2024, the EU’s revised F-gas Regulation (EU) 2024/573 came into effect, aiming to control the emissions of F-gases used as refrigerants to reduce their impact on global warming. The revision brings new rules, including future bans on certain types of f-gases in products and a quota system to limit the total amount of f-gases placed on the market in Europe. Due to these changes, the industry will, in the coming years, invest in new technologies to use refrigerants with lower Global Warming Potential (GWP).

“Samsung is contributing to the F-gas Quota transition towards lower GWP refrigerants, such as R32 and R290, and will continue to invest in alternatives,” says Roxana Răducanu, Head of Division at Samsung Climate Solutions, for Romania and Bulgaria. “A striking example of our dedication to designing advanced heating and cooling systems that adapt to the evolving industry needs are Samsung’s DVM and the EHS indoor and outdoor units. By introducing these new products, Samsung is positioned to comply with future European regulations and support the goals of the European ‘Fit for 55’ package and the targets set under the Montreal Protocol.”

To zoom in a bit further, Samsung recently introduced the DVM S Mini R32 outdoor unit. The unit is equipped with R32 refrigerant, which has a lower Global Warming Potential (GWP) compared to the previous refrigerant R410A. The EHS Mono R290 takes it one step further with the R290 refrigerant having an even lower GWP, without requiring additional investments to improve the thermal isolation.

Seamless setup, quiet operation, aesthetic appeal

Attention is paid to both homeowners and installers as the units are in general easy to handle as well as simple to install, service and maintain. For example, the EHS Mono R290 has a side-panel for easy access to internal components, which helps to save time during installation, maintenance and servicing procedures. Moreover, the DVM S Mini R32 integrates the latest technologies like IoT and several AI functionalities. Supporting streamlined installations, optimized energy monitoring, all while maintaining a comprehensive oversight of integrated systems.

That’s not all, most of the systems are also known for their quiet operation. The DVM S Mini R32 includes Silent Mode, a sound absorbing technology to reduce noise distractions. Also, Samsung’s EHS Mono HT Quiet and the EHS Mono R290 operate at noise levels as low as 35 dB(A) sound pressure using a 4-step Quiet Mode. These heat pump’s outdoor units feature a double-layered, sound insulation system fitted with a patented Groove Grid Felt design, which effectively blocks and absorbs noise produced by compression parts and vibrations.

Of course, appearance does matter as well, and design plays an important role within Samsung. The EHS Mono R290 and the EHS Mono HT Quiet seamlessly blend into any building’s exterior and are available in a dark grey color which complements the current trend of modern building exteriors. The EHS Mono HT Quiet even received an iF Design award during ISH (2025).

Recently, two new additions to the EHS heat pump line-up have been revealed: the EHS ClimateHub and EHS Hydro Unit, solutions for heating and domestic hot water for residential homes. Both with a compact design, making them an easy fit for a variety of spaces, and its greige color is modern, blending in well in most household interiors.

Compatibility, usability and optimized energy control

The EHS ClimateHub and Hydro Unit can be connected to Samsung outdoor units, always creating the right fit for different residential needs. Both ClimateHub and Hydro Unit connected to the EHS outdoor units offer improved dependability for heating and domestic hot water requirements. On top of that, the renewed ClimateHub could improve energy efficiency compared to previous models due to the increase of the overall heat transfer area by 23% and the domestic hot water efficiency has increased from 115% to 148%, due to the triple insulation – a welcome benefit for users.

In addition to improved dependability, the ClimateHub and Hydro Unit also offer improved interaction. Firstly, AI Home features a user-friendly interface, that supports multiple languages and presents information through the intuitive layout on the 7″ display. Users can scan a QR-code to download and open the user manual in several languages on their smartphone.

AI Home offers users a sophisticated smart home control experience with real-time updates on energy usage on the detachable 7″ display. Schedules can be easily adapted, and temperatures adjusted to suit outside weather conditions.

Advanced technologies for a comfortable home

For optimal home comfort, but also out of necessity due to rising temperatures, keeping homes and buildings cool becomes more and more important. That is why air conditioning is an essential feature of any well-equipped, comfortable home. The 2025 line-up of Samsung residential air conditioners has recently been revealed. The line-up incorporates advanced technologies to cater to the diverse needs of modern living and improves indoor air quality.

One of the top-selling models is the Samsung WindFree™. The WindFree™ Cooling mode helps to keep the room comfortably cool as it cools gently and quietly. It disperses air through 23,000 micro-holes preventing cold drafts. This results in a ‘Still Air’ environment with a low air speed and limited noise. The advanced airflow structure of this mode evenly cools wider and larger areas.

With the SmartThings App, users can adjust and control their air conditioner even when they are not at home. By activating the app on a smart device, users can turn the air conditioner on or off, select the cooling mode, schedule their air conditioner’s operation and monitor power consumption.

The line-up is further equipped with AI Auto Comfort, introducing residents to the experience of intelligent climate control. To simplify climate control, it automatically optimizes the various modes by analyzing room conditions and usage patterns. Based on the user’s preferred indoor temperature, the unit automatically switches to the most appropriate cooling and heating mode to maintain optimal and comfortable room conditions. This includes WindFree™, Fast and Normal Cooling. The product is compatible with Bixby 2.0, allowing users to give voice commands to adjust indoor conditions accordingly.

PUZ approval decisions are normative administrative acts, says the High Court of Cassation and Justice
PUZ approval decisions are normative administrative acts, says the High Court of Cassation and Justice 565 600 BUCHAREST REAL ESTATE CLUB

On June 28, 2021, the High Court of Cassation and Justice issued Decision No. 12/2021 in a case of appeal in the interest of the law (RIL), clarifying the legal nature of local council decisions approving Zonal Urban Plans (PUZ). The legal issue was whether these decisions constitute administrative acts of an individual or normative nature. The Court ruled that PUZ approval decisions are normative administrative acts, even when initiated by private individuals or legal entities for specific projects.

This classification has several significant legal implications, including:

  1. Normative acts enter into force upon publication, not upon communication to a specific individual.
  2. Unlike individual administrative acts, normative ones cannot be challenged through the exception of illegality in other proceedings. Legal control is exercised only through a direct action for annulment, in accordance with Law No. 554/2004 on administrative litigation.
  3. Although Law No. 554/2004 expressly provides that normative acts may be challenged at any time, in the case of PUZs, Law No. 350/2001 on territorial planning and urbanism, as amended by Law No. 151/2019, imposes a five-year statute of limitations from the date of PUZ approval for initiating annulment proceedings.

Individuals harmed by the content of a PUZ find themselves in a legally complex situation. The correlation between Decision No. 12/2021 of the High Court and Law No. 350/2001, as amended by Law No. 151/2019, leads to the conclusion that such individuals may challenge the PUZ only within five years of its approval. Moreover, they can no longer invoke the exception of illegality in related litigation, even though this exception is generally imprescriptible, precisely because the High Court has classified PUZs as normative administrative acts.

Therefore, although Decision No. 12/2021 brings clarity to a field marked by inconsistent judicial practice by expressly classifying PUZs as normative administrative acts, interested parties must be aware of the five-year statute of limitations, which restricts the seemingly perpetual challengeability of these acts—a fundamental characteristic of normative administrative acts.

Proposal for Legislative Amendment

Given the classification of PUZs as normative administrative acts and the express legal provision of a five-year statute of limitations for challenging them in administrative litigation, it would be advisable, de lege ferenda, to amend Law No. 554/2004 on administrative litigation to allow the exception of illegality to be admissible for normative administrative acts for which a special law provides an express statute of limitations—such as in the case of PUZs. This amendment would enable continuous legal oversight of normative acts that produce long-term legal effects and impact an unlimited number of individuals, ensuring the protection of fundamental rights of citizens affected by PUZ provisions. Such a change would represent a significant step toward strengthening legal control over normative acts with broad and lasting effects.

KORAMIC REAL ESTATE set to further invest 30 Million EUR in two residential projects
KORAMIC REAL ESTATE set to further invest 30 Million EUR in two residential projects 546 600 BUCHAREST REAL ESTATE CLUB

Koramic Real Estate Romania, the local division of Belgian investor Koramic Investments, with a history of over 140 years and assets under management of more that 1 billion Euro, announces total investments of 30 million Euro on the medium term, for two new residential projects in Romania.

“We have two new projects under development: Sunrise Homes, a collection of 82 premium residential units located in Pipera area, and the second phase of Sunset Lake Homes, comprising 18 high-end villas  on the shore of Straulesti Lake”, explains Alper Cetinoglu, CEO, Koramic Real Estate Romania, adding: “The potential of Bucharest residential market remains high as almost 20% of the country’s employees reside here, while the medium income is 25% higher than the national average. Full Schengen access doubled by the progress of infrastructure works add on this potential, with numerous opportunities on both medium and long term.”

Koramic Romania is part of Koramic Investments, a Belgian-based family office launched in 1883, which is owned by Christian Dumolin. Koramic Investments, a leading investor and developer, has a focus on office buildings, as well as industrial and residential real estate. Besides Belgium, the investor is also present in Germany, Poland and Romania.

Koramic Investments’ portfolio resulted from a diversity of investments made by Christian Dumolin over a long period of time during his time at Dakpannenfabriek Koramic, Terca, and later Wienerberger and following his exit in 2003. Now, 20 years later, the group has undergone a transformation into a family office with distinct focus and management of its different portfolios. The total asset base grew from 1.1 billion Euro to 1.4 billion Euro over the last four years, mainly due to growth in real estate. Total equity grew from 540 million Euro to almost 700 million Euro over the same period.

In Romania, the investor finalized in 2023 the first phase of Sunset Lake Homes, a boutique residential condominium, made up of three low-rise buildings, on the shore of Straulesti Lake. Starting 2025, the company’s investments are increasing to showcase Koramic’s heritage and experience, with the purpose of providing quality housing and raising the bar on the local market.

RUSTLER Romania Announces the Appointment of Cristian Marinoiu as Head of Brokerage & Real Estate Consultancy
RUSTLER Romania Announces the Appointment of Cristian Marinoiu as Head of Brokerage & Real Estate Consultancy 476 600 BUCHAREST REAL ESTATE CLUB

RUSTLER Romania has appointed Cristian Marinoiu as Head of Brokerage & Real Estate Consultancy, as part of the company’s strategy to strengthen and expand its existing services in the Romanian real estate market.

With 28 years of professional experience — including over 19 years in entrepreneurship — Cristian Marinoiu brings a solutions-oriented vision focused on efficiency and sustainability. He is known for his structured yet flexible approach and strong entrepreneurial spirit, with a keen eye for identifying opportunities, taking initiative, and generating long-term value in dynamic environments.

“One of my core values is freedom — of action and of thought. I wanted to be part of a company with a strong organizational culture and significant growth potential, compared to what local entrepreneurship can offer. Integrating into the Rustler team was extremely smooth, which reassures me that I made the right decision,” said Cristian Marinoiu.

Through this appointment, RUSTLER Romania reaffirms its commitment to delivering high-quality real estate consultancy and brokerage services in a professional and ethical environment.

Real Estate Investment Market in H1 2025: €386 Million and two new investors enter Romania
Real Estate Investment Market in H1 2025: €386 Million and two new investors enter Romania 620 600 BUCHAREST REAL ESTATE CLUB

The total volume of commercial real estate transactions recorded in Romania in the first half of 2025 reached €386 million, marking a 7.4% decrease compared to the same period last year.

The office sector attracted the highest share of investment in H1, with a volume of approximately €169 million, accounting for 44% of the total. Close behind was retail, with €163 million (42%). The remainder of the transactions involved industrial assets and hotels. This marks the first time in two years that real liquidity has returned to the office segment, after a prolonged period during which it was almost completely off the investors’ radar. The rebound reflects both a narrowing of the gap between buyer and seller price expectations and a renewed confidence in the outlook for the office market.

Roughly two-thirds of the total investment volume – €253 million – came from international investors, while domestic capital accounted for the remaining €133 million. Among local players, Alfa Group and Pavăl Holding stood out, having acquired part of the Iride platform and the Ethos House building, respectively. However, the share of Romanian capital remains well below regional benchmarks, and the market continues to rely heavily on interest from international investors. With the notable exception of M Core, most active investors in Romania during this period have come from Central and Eastern Europe or the Middle East.

“In a market dominated by regional investors, a platform with a strong CEE focus, such as iO Partners, becomes a real differentiator. In the first half of the year, we advised on four of the six transactions over €25 million and facilitated the entry of two new investors – Granit Asset Management and Solida Capital. Based on the projects currently in progress, we expect at least two more new entries by the end of the year,” said Andrei Văcaru, Head of Capital Markets CEE at iO Partners.

The two largest transactions in H1 involved office and retail assets. Skanska sold the Equilibrium 1 office building in Bucharest – with a leasable area of 20,700 sqm – to Granit Asset Management, marking the investor’s first acquisition in Romania. In parallel, MAS REI sold a portfolio of seven retail parks located in seven cities across the country to M Core, totaling over 32,000 sqm. iO Partners represented the buyers in both transactions.

Prime shopping centre yields compressed slightly in Q2, from 8% to 7.75%. Yields for office assets remained stable at 7.75%, while industrial yields held steady at 8%.

HILS Development Launches LIFE@HILS Social Responsibility Platform and Announces Impactful Initiatives for Sustainable Urban Development
HILS Development Launches LIFE@HILS Social Responsibility Platform and Announces Impactful Initiatives for Sustainable Urban Development 900 600 BUCHAREST REAL ESTATE CLUB

HILS Development is launching the Life@HILS social responsibility platform and announcing its support for impactful initiatives in the social, educational, and environmental spheres, derived from the company’s mission to build responsibly and transform communities. HILS Development’s social responsibility projects are structured around four essential pillars of urban development: environment, education, social solidarity, and business ethics. Throughout 2025, HILS’s social responsibility efforts will be carried out in partnership with strategic allies such as Save the Children Romania, the Văcărești Nature Park Association, and UrbanizeHub.

“HILS Development has the creation, transformation, and development of new urban communities in its DNA. Over the past years, we’ve been consistently involved in the life of the new communities formed within our residential projects, as well as in supporting social and educational causes relevant to our community members. We are pleased to launch Life@HILS today, a social responsibility platform that reflects both our long-term vision for the development of the Capital and a model of active engagement for each of us, as residents of Bucharest. We are running and supporting impactful projects across the four key pillars of HILS’s strategy—environment, education, social solidarity, and business ethics—initiatives tailored to the current needs of Bucharest’s residents,” says Iulia Iana, Marketing Director at HILS Development.

Among the community projects supported by HILS are:

  • “Safe Communities for Parents and Children in the Digital Age” – a series of conferences for parents in Bucharest, organized by Save the Children with the support of HILS Development, as part of the “Ora de Net” program.
  • “Bucharest, the Parents’ City” – an initiative by HILS Development to understand the needs of parents in the Capital and how parent-friendly the city is perceived to be. Together with UrbanizeHub, discussions will be held on May 27 about the identified needs and how we can transform the city into a more suitable space for parents and children.
  • “Explorers in the World of Evening Butterflies” – the first event dedicated to the HILS community, organized in partnership with the Văcărești Nature Park Association team, will take place on the evening of May 26, at HILS Brauner.

Hagag Development Europe signs operating agreement with Radisson Hotel Group for its first hotel development in Bucharest
Hagag Development Europe signs operating agreement with Radisson Hotel Group for its first hotel development in Bucharest 763 600 BUCHAREST REAL ESTATE CLUB

H Vasile Lascar to become the first Radisson RED in Romania – Radisson RED Bucharest Old Town – following an over EUR 13 MLN investment

Real estate investor-developer Hagag Development Europe consolidates its operations in Romania by expanding its presence to the hospitality segment. The company has selected Radisson Hotel Group as operator for its first hotel development in Bucharest, to open under the Radisson RED brand, and started the permitting procedure to revamp and repurpose its property on 5-7 Vasile Lascar Street, in central Bucharest.

This project will be developed following an over 13 million EURO investment, and involves the transformation of an office building dating back to the 1940s. Historically serving as the offices of the Institute of Hydroelectric Studies, the old office maze will be fully renovated and redesigned to provide 104 guest rooms in the historic Old Town area, offering guests a unique blend of modern amenities and historical charm.

“We have a lot of trust in the local hotel market and we believe that there is no better partner than Radisson Hotel Group to support our vision of transforming H Vasile Lascar into a lifestyle destination that will not only enhance our property’s value, but will revive one of Bucharest’s most elegant neighbourhoods. Our ambition is to offer stylish hotels with modern design and meaningful experiences, at a fair price, and we are delighted to see our properties being associated with one of the largest international hotel chains.”, Yitzhak Hagag, Co-founder and Chairman of Hagag Development Europe, stated.

The new Radisson RED Bucharest Old Town will be the first Radisson RED property in Romania and in Bucharest, which the Group has identified as a key city for growth.

Radisson RED Bucharest Old Town will boast a restaurant and bar, a lobby incorporating a co-working lounge and an outdoor terrace, and versatile meeting spaces. A multipurpose room, together with the pop-up venue on the fifth floor, will cater to meetings, events, product launches, and social functions. Additionally, guests will have access to a fitness area, ensuring a comprehensive hospitality experience.

SINGU Named Proptech Innovation Provider of the Year at the EuropaProperty SEE Real Estate Awards 2025
SINGU Named Proptech Innovation Provider of the Year at the EuropaProperty SEE Real Estate Awards 2025 678 600 BUCHAREST REAL ESTATE CLUB

SINGU, the all-in-one property technology platform, has been awarded Proptech Innovation Provider of the Year 2025 at the prestigious EuropaProperty SEE Real Estate Awards, held in Bucharest 

The award recognises the most innovative technology companies transforming the real estate sector across South Eastern Europe. It reflects SINGU’s commitment to digitising building operations through its integrated platform for visitor management, maintenance, smart metering, and access control.

Anna Bartoszewicz-Wnuk, Head of CEE at SINGU, commented:

“This award is a strong validation of the innovation and impact our platform delivers to property managers, landlords, and occupiers. As we continue expanding across Europe, our goal remains clear: enable smarter, safer, and more efficient buildings through scalable technology.”

Adrian Ursulean, Business Development, Romania at SINGU, added:

“This recognition is a testament to our continuous dedication to innovation in the real estate and property technology space. A huge thank you to EuropaProperty for organizing such a fantastic event, and to our partners, clients, and colleagues for their unwavering support and inspiration.”

SINGU was recognized by the judging panel for its:

  • Proven ability to streamline building operations across logistics, retail, and office portfolios
  • Fast-growing footprint in the CEE and SEE markets
  • Client-centric innovation, including tailored modules for ESG, compliance, and tenant engagement
  • Track record of successful implementations in landmark projects across the region

This latest accolade follows SINGU’s recent win at the CEE Retail Awards 2025, where it was named Retail Tech Provider of the Year, reinforcing its position as a leading proptech player in Europe.

Management Buyout at Theta Furniture & More: Shareholder Restructuring to Accelerate Local and Global Expansion
Management Buyout at Theta Furniture & More: Shareholder Restructuring to Accelerate Local and Global Expansion 545 600 BUCHAREST REAL ESTATE CLUB

The company’s CEO, Cătălin Rotaru, has acquired a 40% stake in Theta Furniture & More through Woodwire Partners

Theta Furniture & More, a leading player in the interior design and fit-out market, has entered a new phase of development. The company’s CEO, Cătălin Rotaru, has acquired a 40% stake in Theta through a management buyout aimed at strengthening the company’s long-term transformation and sustainable growth.

The transaction was carried out through Woodwire Partners, an investment vehicle established by Cătălin Rotaru in collaboration with other investors. The shares were acquired from Florin Gheorghe, Theta’s founder—who has now exited the company entirely—and from Gelu Florian, co-founding partner and the technical mastermind behind the company’s development.

Following the transaction, which also included a capital infusion to support business operations, the new ownership structure of Theta Furniture & More is as follows:

  • Black Sea Fund I – 50%
  • Woodwire Partners – 40%
  • Gelu Florian – 10%

“This is a defining moment for Theta,” said Cătălin Rotaru, CEO of Theta Furniture & More. “First, we are deeply grateful to Florin for his pivotal contribution to the company’s journey—thanks to him, Theta has become a well-respected name in the market.

With this buyout, our goal is to capitalize on the expertise we’ve built in recent years and accelerate our growth—both by expanding regionally and by strengthening our international presence. We aim to reinforce our position in our core segments—office, HoReCa, and retail—while also growing into sectors such as healthcare, hospitality, and industrial-logistics, where we’ve already delivered notable projects. Our one-stop-shop approach, offering high-quality integrated interior fit-out services, standard furniture, and especially custom-made furniture produced in our own factory, will support our ambition to rank among the top three most valuable fit-out companies in Romania,” Rotaru added.

Black Sea Fund I, Theta Furniture & More’s majority shareholder, supports this new chapter with confidence. “An entrepreneurial company that aspires to transition from organic growth to scalable development needs more than a founding vision—it also needs structure, discipline, and strong executive leadership,” said Arin Ion, Founding Partner at Black Sea Fund. “The fit-out industry is dynamic and highly competitive. Under Cătălin Rotaru’s leadership over the past two years, Theta has shown that the business can evolve into a more predictable model—while remaining agile enough to adapt to market shifts. With this new ownership structure and results-driven leadership, we are confident the company’s impact in the industry will grow exponentially,” he added.

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