Who’s Who

Profile:
Managing Partner, Decor Floor CEE
Company turnover:
€ 10 million
Experience:
15 years in real estate & construction

Octavian Moroianu joined Decor Floor in 2009, as Sales Manager and thanks to the delivered results he shortly became a shareholder for Decor Floor Romania. With a vision aligned to the highest standards and expectations of both local companies as well as corporations on the local market, he manages to constantly achieve outstanding results in all undertaken projects.

As Managing Partner at Decor Floor, he dedicates all his efforts into building a strong business strategy, marked by an organic growth. In 2016 Decor Floor, under Octavian’s leadership launched its first showroom in Cluj – Napoca, the maintenance services and the first Sales office in Sofia, Bulgaria.

Decor Floor delivered in 2020 more than 150.000 sqm of raised access floor systems for the most iconic office buildings in Bucharest, together with more than 145.000 sqm of floor finishes, such as carpet tiles, vinyl, luxury vinyl tiles, ceramics and commercial rubber flooring.

Well adapted to the evolution of market, the company focuses on the digitalization of its processes. That is why, in the last 2 years, they accelerated the development process of a 100% internally created ERP/CRM software. Today, the software allows the entire Decor Floor team to access all relevant documents and statuses of their projects, thus acting like a tool for the project management process. The in-house IT team works at launching a version specially tailored for the company’s business partners.

With the aim to have a wider visibility into the entire inventory and allow the team to systematically and effectively locate the products, Octavian took a further step in 2020 and invested in a Warehouse Management System, together with a new warehouse location. All the information that was traditionally maintained as packaging lists hard copies, can now be maintained digitally.

The future of Decor Floor, drawn by Octavian in his business plan, targets launching a new business division, the opening of a Sales office in Warsaw and more automation for all processes within the company. The company’s objective for 2021 is to reach a turnover of € 15 million – a 50% increase as compared to 2020.

Profile: Executive Vice President Operations
Hungary & Romania for Skanska’s commercial
development business unit
Portfolio value of Skanska in Romania: N/A
Experience: More than 20 years in real estate
development

Aurelia Luca became part of the Skanska team in 2012, as a Leasing Manager, after previously working as Commercial Manager for Global Finance. In January 2018, Aurelia has been appointed as Managing Director of Skanska Property Romania and from this position, she continued Skanska’s mission of developing sustainable office buildings. Since January 2020, she is part of the newly appointed Senior Leadership Team in Skanska Commercial Development business in Central and Eastern Europe. Named Executive Vice President Operations Romania, Aurelia Luca has an important role in the process of centralizing the organization on a regional level and strengthening its strategic focus on customers

In February 2021, Aurelia took over the Hungarian operations, becoming EVP Operations Hungary & Romania and is responsible for Skanska’s commercial development business unit in both counties.

With 3 ongoing projects in 2019 and more than 21.000 sqm rented in Equilibrium 1, Campus 6.2 and 6.3 office buildings, Skanska Romania continued its development and reconfirmed the increasing trend registered for that period. The 3 buildings have achieved the highest levels of certification and pre-certification such as LEED and WELL, to ensure their residents have access to a sustainable and healthy working environment.

Having plans for the future and aiming to ensure its presence simultaneously in two submarkets, at the end of 2019, Skanska has bought a plot of land in Bucurestii Noi area, through a 24 million EUR transaction, to develop a new office complex.

Even in pandemic conditions, Skanska sold Campus 6.2 and Campus 6.3 office buildings, located in Bucharest, to S IMMO AG for EUR 97 million, being one of the largest transactions of Skanska on the Romanian market so far.

When it comes to the plans for 2021, first of all, let’s all be safe, Aurelia Luca says. “Let’s look back at everything that happened last year and think what are the lessons we have learned, the conclusions we have reached and what we want to change going forward. This year we are committed to continuing being recognized as a high-quality office space developer with top safety standards that reduce the risk of disease transmission and facilitate creating healthy and safe workplaces in the post-COVID reality,” the executive adds.

“With the projects we develop we focus on innovation, experience offered to future occupants of the buildings, but also on sustainability. We believe in a sustainable development of the city, in the role we play in the growing of communities. In the next period, we will continue our activity on our sites. We have delivered Campus 6.2 project in Q1 of 2021. We have started the second phase of Equilibrium project and we will also continue.”

Profile: Country Managing Partner,
Deloitte Romania & Moldova
Turnover: N/A
Experience:
20 years in business & tax law

Alexandru Reff is the Country Managing Partner of the professional services firm Deloitte in Romania and Moldova, which provides services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes as well as technology services and other related services, through more than 2.000 professionals.

Alex started his career in Deloitte as an intern in 1997 and held local and international roles in the Tax and Legal practice. Since 2017, he has been the Country Managing Partner of Deloitte Romania and Moldova. He is also the founder of Reff & Associates, one of the largest law firms in Romania and a member of the global Deloitte Legal network.

Over the years, Deloitte has been making an impact that matters on the Romanian real estate and construction market, playing a leading role in the successful completion of various real estate projects. In November 2020, Deloitte Romania surveyed executives and board members among Romanian commercial real estate owners, developers and investors through an online questionnaire, which focused on the effects of the COVID-19 pandemic over the industry, the predictions for 2021 and the issues that companies need to focus in order to thrive in a post-pandemic era.

The vast majority of respondents stated that the price (86%) and the occupancy rate (71%) will increase or decrease depending on the type of the commercial property, according to the findings of Deloitte Romania Commercial Real Estate Survey 2021. The survey emphasizes that real estate companies need to create a digital connection with the online consumer, as almost half of the respondents mentioned that the rise of e-commerce will be a challenge for their business.

The survey also highlights that the necessity of technology usage, including trends like proptech, will long outlive the COVID-19 pandemic, as 80% of respondents believe technology to be the first and most important capability that needs to be developed even when the health crisis would have ended. PropTech, commonly known as an ecosystem of start-ups and emerging growing companies that offer technology-enabled, innovative products and services, emerged as the spearhead of a profound digital transformation roadmap for commercial real estate companies, in an industry that has been slowly leveraging technology. The proptech field has already raised over $43 billion in funding worldwide since 2012, according to Deloitte Real Estate Predictions 2020 study. The study also emphasizes that the future of proptech is promising, considering that the field has the same funding size as fintech did in 2013, a sector that registered a growth of 44.8% (CAGR) since then.

Even though the proptech sector it is at the early stage in Romania, the COVID-19 pandemic might have also raised the bar for them, as half of the surveyed respondents believed that this is the proper context for the emergence of new business models, including proptech.

Catalin Jaloba has a solid experience in real estate, having more than 15 years of expertise in fields such as expansion, development, consultancy and valuation, sales and financing. He has analyzed more than 3.500 properties from retail, office, residential, industrial, land and special destination.

As of 2017, Catalin Jaloba is Head of Real Estate Finance at BCR, one of the top 3 players in the Romanian banking system and from this position, he coordinates all real estate financing activities at BCR. Banca Comerciala Romana (BCR), member of Erste Group, is one of the most important financial groups of Romania and includes universal bank operations (retail, corporate & investment banking, treasury and capital markets), as well as specialized companies in the leasing market, private pensions and housing banks.

Profile:
Managing Director Romania, CA Immo
Portfolio size of CA Immo Romania:
€ 390. 6 M.
Experience:
24 years in development and property
& facility management

With a proven track record of 24 years of experience on the Romanian real estate industry, Marian Roman is one of the most respected real estate professionals on the market. He has been Managing Director Romania at CA Immo since 2011 and oversees all business activities, including asset management, leasing and tenant relations.

Marian is a graduate of the University of Economic Studies, Faculty of International Business and Economics Bucharest. He has worked extensively in the property sector and was Managing Partner for Building Support Services (BSS), promoter of property & facility management, which currently manages over 3.5 million sqm of office, retail and logistics spaces. Next, he was appointed as Managing Director for Europolis in Romania, which has been taken over by CA Immo in 2011.

With a portfolio of 7 office buildings and 165.000 sqm GLA, CA Immo is one of the largest office landlords in Romania. In recent years, successful additions to CA Immo’s portfolio include the office development Orhideea Towers, with an investment of approx. € 75 mil. and the acquisition of Campus 6.1 for € 53 mil., both located in Bucharest’ Center-West submarket.

CA Immo’ portfolio has a vacancy of less than 8%, due to an aggregated and constant renewal process, considering that also many of the tenants have extended their leases, some of them reaching a contractual period of 15 or even 20 years, which reflects a high satisfaction level, validated in time.

“2020 will be remembered as a year of business and life disruptions. As an office landlord for top tenants from all major industries, we focus on ensuring a safe work environment for those 15,000 people who are generally working in an office building of CA Immo’s portfolio.
Our plans for 2021 include to further improve the general features of our buildings, i.e. comprising the re-design resp. refurbishment of common areas, to maintain or upgrade technical equipment such as the Building Management Systems to ensure continued reliability and to preserve the high-level quality of the building’s technology, as well as reducing the energy consumption.”

CA Immo is an investor, manager, and developer specialised in modern office properties across the gateway cities in Germany, Austria, and Central Europe. The company covers the entire value chain in the field of commercial real estate including a high degree of in-house construction expertise. Founded in 1987, CA Immo is listed on the ATX index of the Vienna Stock Exchange and holds property assets worth around € 5.6 bn in Germany, Austria, and CEE

Profile:
Managing Director, Vastint Romania
Experience:
More than 12 years, mainly in real estate

Managing Director for Vastint Romania since 2009, Antoniu Panait has an executive experience of more than 12 years, mainly in real estate. With a strong foundation built on legal studies, embracing diverse operational responsibilities including administrating complex portfolios and evaluating investment opportunities, when he was only 31 years old he took the challenge to build and grow the VASTINT team and projects in Romania.

Antoniu Panait is in charge of Vastint Romania’s major projects in Bucharest. Timpuri Noi Square is located in Bucharest District 3, with up to 100.000 sqm gross build area of class A office and retail, as well as 50.000 sqm residential space planned and Business Garden Bucharest, located in District 6, will bring up to 43.000 sqm of class A office and retail space to the market.

VASTINT has also acquired a 48 ha site in Sisesti area, in close proximity to the Straulesti terminal, with a subway station and park-and-ride facilities, with a view to develop a mixed – use, primarily residential development.

Timpuri Noi Square and Business Garden Bucharest are active and subject to the rental process. At Timpuri Noi Square, the developer is preparing for the start of Phase 2 of the project, adding up to 43.000 sqm of class A office and retail space to the market. Business Garden Bucharest project is finalized with all 3 buildings delivered since 2019 and hosting tenants like Banca Comerciala Romana, Veeam, Sparkware and other corporate tenants.

“Vastint Romania is preparing forthe start of Phase 2 of Timpuri Noi Square, that will bring another 100.000 sqm gross build area of office and retail spaces in the next few years. Ready to develop other projects if the market requests it.”

Profile:
Owner, Tiriac Group
Turnover of real estate division:
€ 14.5 million
Ongoing investments:
Tiriac Tower, Stejarii Residential Club 2,
Timisoara Retail Hub
Experience:
Over 30 years’ experience on the Romanian
market

One of the iconic figures of Romanian sports, Ion Tiriac owns a large holding with diverse activities such as auto, real estate, financial, air travel or energy. The real estate arm of the group covers numerous segments of the market, with retail properties (auto showrooms & Praktiker Targu Mures), residential schemes (La Stejarii luxury compound with 535 rented apartments and Rezidenz, a 485 apartments project, sold out at the end of 2019) and office buildings (Tiriac Tower, Tiriac Center, Vama Postei, Nouveau Center).

“In sports, winners are those who anticipate and act, calculating their every move. Likewise in real estate, you build where you estimate the market will be in the future. Whether we are talking about offices or residential areas, retail spaces or real estate projects related to education and sports, it is important to develop for tomorrow, bearing in mind the job well done today.”

Tiriac Tower – a new, posh office property near Victoriei Square in Bucharest CBD is the group’s latest real estate project. The tower was designed as a strong and reliable building, with exceptional attention to quality and unrivalled focus in details, to create a new landmark for the city. The result is a timelessly elegant, yet highly functional premium office building.

Tiriac Imobiliare is also working on the concept for a large scheme, on the former IFMA industrial platform of 25.000 sqm. The first step was taken by the demolition of old structures and buildings on the platform, including the 114-meter high IFMA test tower for elevators. Located centrally, near Bucharest North Railway Station, the platform is to be transformed into a landmark, sustainable project.

Profile:
Country Manager Operations, IMMOFINANZ
Romania
Portfolio value of Immofinanz Romania
€ 749.2 mil. (15% of Immofinanz Group total
portfolio)
Experience:
21 years in real estate and investment banking

Fulga Dinu started her career in New York as an investment banker for JPMorgan. In the early 2000s, upon returning to Romania, she established and led the real estate division of HVB Bank, at a time when the real estate industry was taking shape. This experience was followed by the position of Country Manager at Eurohypo AG (at that time, the real estate lending arm of Commerzbank AG). This gave her the opportunity to grow with the market as she was directly involved in some of the largest real estate projects and transactions in Romania, in retail, office and logistics.

Further on, she consolidated this knowledge in executive positions in the real estate industry for development companies. Fulga Dinu has been taken over the position of Country Manager Operations at IMMOFINANZ Romania starting with March 2018. IMMOFINANZ differentiates on the Romanian market with its real estate solutions – myhive for high-quality offices with a warm atmosphere and lively community as well as the cost-efficient STOP SHOP and VIVO! retail brands. With its robust financial base, the company intends to return to a profitable growth course as soon as possible.

IMMOFINANZ focuses on constantly adapting to the increasingly sophisticated needs of the tenants, therefore flexibility has become one of the main pillars of the myhive concept, the company official explains. This new component brings an upgrade to this concept and allows Immofinanz to offer an extremely varied range of options to their tenants, in order to be able to accommodate almost any type of requirement, coming from companies active in any type/ business model.

“We focus on growth, especially for our successful myhive brand on the office market. Regarding our retail products we focus on STOP SHOP, as we already have a good VIVO! presence in Romania. Our STOP SHOPs are a cost-efficient, high-yielding and crisis resilient retail format. At the core of our business is our community of tenants and this remains a priority in our activity.”

The main ongoing investments in Romania concern the renovation of the recent landmark acquisition, Bucharest Financial Plaza into a high-quality and green myhive building with a sustainability certification of at least Gold standard. Another key project is the launch early next year of a private hospital which will occupy the entire IRIDE eighteen building.

• The IMMOFINANZ properties in Romania have a book value of EUR 749.2 million for the year 2020 and represent 15.0% of the company’s total portfolio.
• The standing investment portfolio of EUR 611.7 million splits into 8 office buildings (10.6% of the total standing office portfolio) and 5 retail properties (19.2% of the total standing retail portfolio).
• Occupancy rate remained high at a level of 93.2% while rental income reached EUR 50.3 million.

Profile:
Co-Founder & Executive Director, One United
Properties
Consolidated turnover of One United Properties
(2020): € 110 mil.
Experience:
More than 20 years in real estate development
alongside banking & investment experience

Andrei Diaconescu is Co-Founder and Executive Director of One United Properties, coordinating Operations, Finance and Legal.

Andrei holds an EMBA from ASEBUSS and an International Law Degree from the University of Macedonia, Thessaloniki. Andrei speaks Romanian, English and Greek.

Focusing on operations within the company, in the past years Andrei Diaconescu has coordinated a strong team delivering sustainable and state-of-the-art architectural projects. The company is one of the first to introduce to the Romanian real estate market the mixed-use projects encompassing residential, office and leisure and commercial units, and also the ambitious regeneration projects that aim at revitalizing formed abandoned areas, such as One Cotroceni Park or One Herastrau Towers.

The company succeeded in innovating both in terms of the concept of residential and mixed projects, but also in terms of construction practices, which result in energy-efficient, sustainable, and environmentally sound buildings.

“We intend to continue our efforts to develop sustainable real estate projects at international standards for the Romanian market. With the listing on the Bucharest Stock Exchange, we see great growth potential for the company, and we want to contribute to the development of a healthy and strong capital market. We plan to develop residential and mixed real estate projects, both in Bucharest and in other main cities in Romania or in the region.”

Profile:
Co-Founder & Executive Director, One United
Properties
Consolidated turnover of One United Properties
(2020): € 110 mil.
Experience:
More than 20 years in real estate development
alongside banking & investment experience

Victor Capitanu is Co-Founder and Executive Director of One United Properties, a game-changing development company that reported a consolidated turnover of EUR 110 mil. in 2020.

Victor is a CFA charter holder, with a degree in Financing & Banking from Bucharest Academy of Economic Studies and has attended an Executive Private Equity Program at Harvard University and an Executive program at Singularity University in Silicon Valley.

Victor is coordinating Sales, Marketing and Investments and as Co-Founder and Executive Director of United Properties, Victor Capitanu has focused in the past 2 years on developing sustainable investments for the company meant to ensure continuity and market value for One United Properties green projects. The developer has also entered the office real estate market after years of important achievements in the residential segment. In terms of company reputation, the developer was internationally awarded for the mixed-use project One Floreasca City with “Best Sustainable Residential Development” in the world at International Property Awards 2019-2020.

“One United Properties has succeeded in having a natural growth and in becoming a leading green developer of residential, mixed use and office real estate. In the upcoming years we aim for One to become a national leader and a strong regional player in the real estate segment. 2021 is an important year as we have announced our intention to be listed on the Bucharest Stock Exchange this summer. We will invest in the development of new residential or mixed projects, with a focus on developments for middle- and upper-income clients, where we see great growth potential. In parallel, we will develop the portfolio of rented properties.”

 One United Properties is one of the largest and most successful high-end residential, office and mixed-use developers in Romania, with an active project pipeline comprising over 2.000 design residential units.

The company founders have invested in real estate since 2000 and developed the first residential building in 2006 and starting with 2013 they have expanded real estate projects under the brand One, turning it into the leader of the high-end residential market in Romania, with multiple awards for architecture, design, development, but also for sustainability. The company had rapid growth and turned into a profitable business, while becoming the author of landmark real estate projects on the Romanian market.

One United Properties announced its intentions to be listed at the Bucharest Stock Exchange in 2021.