Construction Market

04.02.2026

What were the main business results for 2025?

2025 was a very active and balanced year for Vitalis Consulting.

We successfully delivered complex projects across hospitality, retail, industrial and mixed-use developments, while also expanding into the renewable energy sector, particularly photovoltaic parks. Like any dynamic year, we faced challenges generated by market pressure, cost volatility and tight timelines, but strong project governance and disciplined execution allowed us to deliver on time and at the expected quality level. Overall, 2025 confirmed the resilience of the Romanian real estate and construction market and our ability to adapt and perform consistently.

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

In 2026, our goal is to continue delivering excellence while navigating a changing market.

We are finalizing projects that have been in development for several years and we are already engaging with new potential clients to lay the groundwork for future initiatives. Our focus remains on resilience and adaptability, ensuring that economic pressures, legislative changes, and market uncertainties do not compromise quality or timelines. We work closely with our teams on-site to review lessons learned and improve processes, always combining a positive, proactive approach with careful risk management.

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, the Romanian real estate market will continue to face economic and regulatory challenges. Rising construction costs, inflation, higher financing rates, and workforce availability will put pressure on project timelines and budgets, while changes in fiscal and legislative frameworks add another layer of complexity. At Vitalis Consulting, we focus on careful planning, proactive risk management, and close collaboration with our teams and partners. By anticipating potential obstacles and adapting our processes in advance, we ensure that projects are delivered on time and at the expected quality, turning challenges into opportunities for improvement.

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

In 2026, the Romanian real estate market is expected to face a mix of economic, regulatory, and operational risks. Rising construction costs, inflation, and higher interest rates could affect project budgets and financing conditions, potentially slowing development timelines. On the regulatory side, changes in fiscal rules, taxation, and legislation may create uncertainty for developers, investors, and operators, making long-term planning more challenging. Operationally, workforce availability and skilled labor shortages remain significant concern. Combined, these factors could increase project risk, require careful planning, and influence investment decisions across the market.

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

In 2026, the most attractive opportunities for growth in the Romanian real estate market lie in renewable energy and sustainable development. There is a clear shift towards integrating sustainability into every type of project, from residential and commercial buildings to industrial and mixed-use developments. Investors and developers are increasingly focusing on energy efficiency, green building certifications, and low-carbon solutions, as these not only reduce operational costs but also increase long-term value and market appeal. Sustainability is no longer optional—it is becoming a key driver of competitiveness and future growth in the market.

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

In 2026, the players who will succeed are those who can anticipate change and adapt quickly. Companies that remain flexible, responsive to market trends, and attentive to evolving client and regulatory demands will have an advantage. Strategic thinking, careful planning, and the ability to manage uncertainty effectively will separate the stronger performers from the rest. In short, the winners will be those who combine resilience with a forward-looking mindset.

26.02.2025

What were the main business results for 2024?

In 2024, we had a very successful year in every aspect. We made significant progress by engaging in new projects and completing some long-term ones. Additionally, we advanced through various stages of ongoing projects. While faced some challenges, these experiences taught us valuable lessons.

One of our key achievements in 2024 was our involvement in the green energy sector, specifically through partnerships in developing several photovoltaic parks. We are strong advocates for renewable energy and strive to contribute as much as possible. On the retail and industrial front, we successfully delivered several projects. For instance, we partnered with Kaufland as they expanded into multiple cities across the country, providing Project Management support for their new locations. We are pleased with the outcomes. We also met our deadlines for the warehouses located in Ghiroda, Turda, and Sibiu.

In terms of ongoing projects, we made significant progress in hotel development, working on seven projects simultaneously. We are excited to announce that the Grand Hotel du Boulevard, situated in the heart of Bucharest, is now open. Furthermore, we are actively involved in restoring historical monuments and developing one of the most anticipated retail spaces in Bucharest – the Stirbei Palace, which promises to be a unique project in Romania.

Overall, we can confidently state that 2024 was a successful year, with progress aligning with our expectations. We look forward to 2025, hoping for continued stability and market growth at a similar pace.

What are the company’s business targets and plans for 2025?

In 2025, we anticipate that the market will maintain its current pace. We are optimistic about achieving results similar to those we experienced in 2024. Our focus will be on continuing our successful projects and exploring new opportunities for growth. We are committed to delivering quality and value to our clients, and we believe this approach will lead to another successful year. A difference that we expect from 2025 is the growth of delivered projects. We work on the final stages of a few projects and we are preparing to deliver and see the final results.

What regions or construction segments (residential, commercial, infrastructure) do you see as growth drivers in Romania for 2025? What key factors are driving growth in the construction market for 2025, and how is Vitalis positioning itself to capitalize on these opportunities?

In 2024, a higher interest of developers in the hotel industry was observed. Due to the development of infrastructure and the modernization of major cities in the country, Romania is experiencing an increase in tourism. Thus, in recent years, international brands (Swissotel, Corinthia, Mercure, Ibis) are developing accommodation units locally. As developments per regions, we see greater development in secondary cities. We have construction sites open in different regions of the country – Alba Iulia, Sinaia, Cluj, Brasov, Turda, Satu Mare, Bacau. So, we do see a significant growth in these regions.

In the industrial and commercial areas there were many deliveries completed last year. We believe that 2025 will maintain the same evolution.

What economic pressures (e.g., inflation, material costs, work force issues) or regulatory changes do you anticipate impacting the construction market in 2025, and how is your company preparing for them?

We recognize that there are challenges ahead for 2025, and we are ready to adapt to overcome them. One significant issue is inflation and rising costs, which have affected all areas of business. As entrepreneurs, we must effectively manage these challenges to optimize costs while maintaining the quality of our delivered product. Our goal is to ensure client satisfaction and build trust.

To achieve this, we prioritize open and transparent communication from our very first meetings. We collaborate with our clients to create an accurate budget, identify potential risks, and develop a project management plan together. Throughout the project, we provide continuous supervision and are always available to address any issues that arise. We also keep clients informed about material prices from the beginning to avoid any unexpected higher costs later on.

While inflation and political instability do create some turbulence in the real estate and development sectors, we are committed to managing these challenges. We understand that laws, authorizations, and procedures are constantly changing, and the current economic climate has its impact. Regardless of these conditions, we are dedicated to delivering successful projects.