INSTITUTIONAL INVESTMENTS ACROSS CITIES OF ROMANIA. LOCAL DYNAMICS. LOGISTICS & INDUSTRIAL. RETAIL. OFFICE. RESIDENTIAL. NEW REAL ESTATE FORMATS
Reaching an unprecedented maturity level, the real estate market in the regional cities of Romania continues its expansion outside of the Capital City Bucharest, with investments going under full speed. New formats and investments ideas are taking shape, such as proximity logistics or healthcare property.
BREC REGIONAL CITIES Analysis:
Timisoara, Cluj-Napoca, Brasov, Iasi and Constanta attract more than 2 bln. EUR in new real estate projects
Total investments of over 2 billion EURO are currently undergoing or will be soon started in the 5 largest cities in the country (Timisoara, Cluj-Napoca, Brasov, Iasi and Constanta).
Thus, between the end of 2021 and 2024, in the 5 cities and in the adjacent regions commercial property projects totaling over 370,000 sqm (office buildings, logistics spaces, retail parks) will be completed, as well as 7 large hotels affiliated to international brands and more than 20,000 new apartments, according to BREC information from companies active on the market and CBRE, Cushman & Wakefield Echinox, Simon & Partners Cluj-Napoca, IMRA Real Estate Constanta and EST Hospitality data.
Click here to read more about the real estate dynamics across the main cities of Romania >
KEY WORDS IN THE POST-PANDEMIC ERA: FLEX & EYES WIDE OPEN.
754.853 inhabitants
- GDP:
- 9 M. €
732.913 inhabitants
- GDP:
- 10 M. €
549.217 inhabitants
- GDP:
- 7.3 M. €
772.348 inhabitants
- GDP:
- 7.06 M. €
684.082 inhabitants
- GDP:
- 9.09 M. €
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PALAS IASI
A LANDMARK URBAN REGENERATION DEVELOPMENT, SPARKLING THE NORTH-EASTERN SIDE OF THE COUNTRY
In the middle of the city, near the Palace of Culture, IULIUS developed Palas Iasi, a premiere project designed as a tribute to the symbolic building of the city and as an economic and social boost for the entire region. The 1st mixed-use development in Romania, Palas Iasi introduced the Western lifestyle influences in the development of a region with major potential, insufficiently exploited.
Inaugurated in 2012, the Palas complex remains the only urban regeneration complex of such magnitude in the North – Eastern part of the country. Currently, the value of the investment in Palas Iasi amounts to over 310 mil. EUR. The development continues through Palas Campus, a mixeduse project in itself that is being built nearby, transforming an underdeveloped area from the central area of Iasi into a business district.
AFI BRASOV
REDESIGNING LANDSCAPES
One of the leading real estate development, management and investment companies operating in CEE, AFI Europe through its local subsidiary AFI Europe Romania just recently inaugurated AFI Brasov, in October 2020, following an investment worth 148 mil. EUR.
A mixed-use project in the heart of Brasov city, this includes 45.000 sqm GLA of shopping center with a green terrace overlooking to the mountains and an office building totaling 15.000 sqm GLA.
IMMOFINANZ`
VIVO! CONSTANTA
A RETAIL LANDMARK NEXT TO THE SEA
The initial project was called POLUS and started in 2007, under the guidance of TRIGRANIT, reaching the IMMOFINANZ portfolio in 2009, time when construction began on what would become an important landmark of the city of Constanța.
Two years later, on October 27th 2011, after an investment of 147 mil. EUR, IMMOFINANZ launched Maritimo Shopping Center, with an occupancy rate of over 90%, the perfect regional destination for shopping and relaxation with a wide range of shops, services and leisure attractions, all in a distinctive atmosphere.
GRAN VIA MARINA
CONSTANTA’S NEW VIBRANT COMMUNITY
After 2.000 residential units delivered in Bucharest, Spanish-based developer Gran Via Real Estate is now focusing on its large-scale development Gran Via Marina in Constanta.
In 2021, the 1st phase with 192 apartments was finalized, the developer working now on the 2nd phase, a 40 million EUR investment. The entire project will comprise 800 units, playgrounds, green spaces, pools and a kindergarten.
COS
FUELLING REGIONAL GROWTH WITH SARMIS CAPITAL
Active on the local market since 1998, COS [Corporate Office Solutions], one of the first integrators of interior design solutions established in Romania keeps on expanding its regional reach.
With already 3 regional representatives in Timisoara, Cluj and Iasi besides its HQ office in Bucharest, COS has recently announced its partnership with Sarmis Capital investment fund, which acquired a significant majority stake. The two parties announced the aim to enhance COS business model further under the new shareholding structure, by actively focusing on ESG and Corporate Social Responsibility initiatives, expanding to new sectors (such as private healthcare, private education and hospitality) and geographies, both organically and through strategic acquisitions.
