HILS Development

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.

2026 Trends with Ionel Purice, Genesis Property
2026 Trends with Ionel Purice, Genesis Property 596 600 BUCHAREST REAL ESTATE CLUB

18.02.2026

Ionel Purice, CEO, Genesis Property

What were the main business results for 2025?

2025 was a year of consolidation and validation for our long-term strategy. Despite a volatile economic environment marked by fiscal uncertainty and shifting workforce dynamics, our business results exceeded the expectations set at the beginning of the year. Demand for high-quality, flexible office environments remained resilient, particularly from companies prioritising employee experience, sustainability, and long-term stability.

A key milestone was the signing of a long-term lease agreement with Procter & Gamble Romania, a strategic commitment that reinforced YUNITY Park’s positioning as a premium business. In parallel, the continued transformation of YUNITY Park and West Gate Business District allowed us to adapt our offering to new work rhythms and cultural shifts within organisations. From a sustainability perspective, receiving in 2025 the GRESB “Green Star” rating for the second consecutive year confirmed the robustness of our ESG strategy.

Overall, 2025 demonstrated that investments in people-centric design, sustainable infrastructure, and operational excellence remain strong differentiators, even in a cautious market.

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

For 2026, our business strategy is built around three core priorities. The first is the continued development and consolidation of the YUNITY Park ecosystem, with a focus on completing new facilities and accelerating projects that support wellbeing, energy efficiency, and community engagement. These investments aim to further strengthen the campus as a fully integrated environment that supports both performance and quality of life.

The second priority is tenant attraction and retention through highly personalised services and a strong community framework. Companies are increasingly looking for partners, not just landlords, and our goal is to deliver a campus experience that integrates flexibility, technology, and sustainability.

The third strategic pillar is the advancement of our ESG performance. In 2026, we will continue to invest in decarbonisation, renewable energy, and transparent reporting, ensuring that our projects remain aligned with international sustainability standards.

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 anticipate continued economic pressures related to inflation, financing costs, and workforce dynamics, alongside potential regulatory and fiscal adjustments affecting the real estate sector. These factors are likely to influence investment decisions, leasing timelines, and the overall predictability of business planning for many companies.

Our preparation is grounded in long-term strategic resilience rather than short-term reactions. With over two decades of experience in the premium office market, we have developed flexible strategies based on multiple scenarios, allowing us to adapt without compromising our core direction. Operational efficiency, cost optimisation, and energy independence remain central to our approach, particularly through the transition to 100% renewable energy and ongoing investments in smart building systems.

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

In 2026, the Romanian real estate market will face several significant risks rooted in both macroeconomic conditions and structural challenges. One of the foremost risks is continued economic volatility, including inflationary pressure, rising financing costs, and potential shifts in interest rates, which can dampen investor confidence and slow down decision-making cycles. In such an environment, companies may postpone leasing commitments, leading to longer vacancies and increased pressure on rental growth.

Additionally, the rapid evolution of work models presents a risk for assets that fail to adapt. Office spaces that are not flexible, sustainable, or responsive to tenant expectations may struggle to attract long-term partners.

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 will lie in projects that respond directly to how work, expectations, and organisational culture are evolving. Demand is increasingly shifting toward high-quality office environments that go beyond functionality and deliver tangible value in terms of employee experience, wellbeing, and employer branding. Developments that are flexible, community-oriented, and designed around people, not just square meters, will continue to attract long-term commitment from occupiers.

We also see growth potential in projects that function as integrated ecosystems rather than isolated buildings, campuses where workspaces are complemented by green areas, social infrastructure, services, and amenities that support daily life.

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

In 2026, the winners will be players who prioritize adaptability, long-term thinking, and genuine value creation. In real estate, this means developers who go beyond delivering square meters. Strategies focused on ESG excellence, operational efficiency, and energy resilience will gain a competitive edge as regulatory expectations increase and occupiers become more selective.

At the same time, the ability to understand and anticipate workforce needs will distinguish successful projects from those that struggle to remain relevant. Another key differentiator will be the use of technology and AI to improve building operations and user experience, without losing sight of the human dimension of work. The most successful players will balance innovation with stability, investing in future-ready solutions while maintaining affordability and long-term asset value.

2026 Trends with Ashton Topolinski, InteRo Property Development
2026 Trends with Ashton Topolinski, InteRo Property Development 1200 600 BUCHAREST REAL ESTATE CLUB

18.02.2026

Ashton Topolinski, Head of Marketing, InteRo Property Development

What were the main business results for 2025?

InteRo Property Development performed exceptionally well in 2025, it was our best year yet! Even though the geopolitical climate has not been good, we pushed forward and adjusted where we needed to continue to expand. In 2025 we started Phase 1 of SunLight Residence, 174 affordable apartments in the most northern part of Pipera and on the border of Tunari, and we plan to complete this phase this summer. We also will fully construct Phase 1 of Pajurei 3 Residence and residents will move-in July 2026. It is in the pipeline to start development of another beautiful development in 2026.

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

My partners and I plan for another building block year at InteRo Property Development. We target our business to progress on three goals – continue to scale adding another development to the pipeline this year, continue to provide a 10/10 employee workplace with a comfortable space at our Innovation Headquarters, health and medical initiatives and training to improve skills, and to exit NorthLight Residence, New Confort City and Pajurei 3 Residence on my family’s real asset investment platform.

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 have prepared for these economic pressures by strategically developing based on using our capital in the most effective ways while continuing to scale InteRo Property Development. This applies to conserving capital where we can on all fronts, from a business operations point-of-view to cost of construction materials and so forth. We value every euro, and we always have. Being financially wise is simply part of who we are as a family.

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?

My partners and I see President Trump and the geopolitical climate in the United States of America as the main risk for Europe and it could cause a trickle-down effect in Romania and other European countries. We see the most attractive opportunities to be in Europe and particularly, we see more now than ever that Bucharest, Romania is a prime city to develop in considering stable interest rates, relatively low prices compared to other European nations and the access to immediate capital we have in Romania.

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

I think the developers that keep an eye on the market consistently and adjust their business plan based on the bankability of the development(s) and the regulations of the Nordic Law will have a competitive advantage. We believe in client protection, and we are in support of making sure our client’s funds are invested in the construction and asset ownership is provided in its entirety.

2026 Trends with Roxana Roman, Wolf Theiss Romania
2026 Trends with Roxana Roman, Wolf Theiss Romania 1200 600 BUCHAREST REAL ESTATE CLUB

12.02.2026

Roxana Roman, Partner, Wolf Theiss Romania

What were the main business results for 2025?

The year 2025 was defined by strong business performance and a memorable milestone: the 20th anniversary of Wolf Theiss in Romania. This moment reflects two decades of sustained growth, client confidence, and consistent execution on complex mandates. Over the years, we have cultivated a solid reputation for high quality legal services, enduring client relationships, and a culture rooted in integrity and innovation. Our involvement in numerous high profile and sophisticated transactions highlights the trust placed in us by clients and peers alike, reaffirming our position as one of Romania’s leading business law firms.

Throughout 2025, we continued this upward trajectory by advising on major, high value deals and deepening long term client partnerships. Our unwavering commitment to quality, innovation, and exceptional service further strengthened our market standing. Looking ahead, our focus remains on consolidating this strong position and driving strategic growth in Romania and across the broader CEE/SEE region. We are committed to expanding our capabilities, strengthening cross-border collaboration, and investing in areas that will enable us to deliver even greater value to clients in the years ahead.

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

In 2026, our strategic priorities focus on enhancing efficiency, productivity, and overall competitiveness across all areas of our practice. We will continue to deliver legal services with a strong emphasis on client experience, ensuring deep alignment with business priorities and commercial realities. To support our clients in an evolving market, we will remain agile, constantly assessing the business landscape and proactively adapting to emerging challenges and opportunities. A key objective for 2026 is to further strengthen Bucharest’s role as a strategic hub for regional transactions and cross‑border collaboration, leveraging our expertise and network across the CEE/SEE region. At the same time, we remain committed to maintaining the high standards, professionalism, and client‑centric approach that define our Firm. Our overarching goal is to anticipate client needs, expand our capabilities, and continue building long‑term value for the businesses we support.

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?

Romania’s economy, much like those of many countries in the region, continues to face vulnerability from external macroeconomic pressures. The sharp rise in inflation experienced in the last years, driven primarily by higher energy and food prices, has placed noticeable financial strain on both consumers and businesses.

At the same time, ESG considerations are becoming increasingly central to business strategy. Companies must remain attentive to evolving regulatory requirements and rising consumer expectations related to environmental responsibility, sustainability practices, and sound governance. Another critical challenge for many organizations is attracting and retaining skilled talent. To remain competitive, businesses need to monitor workforce trends, invest in professional development, and cultivate a positive workplace culture that supports long-term employee engagement.

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?

As 2026 unfolds, the Romanian real estate market finds itself navigating a landscape shaped by uncertainty and transformation. The year begins under the shadow of macroeconomic and fiscal pressures: an environment where recent tax increases, including the VAT hike on new homes, continue to ripple through the sector. These shifts have tempered market sentiment, making homes less affordable for buyers and placing additional financial strain on developers. The result: a noticeable slowdown in transactions and a more cautious approach to new investments.

Compounding these challenges are elevated financing costs. Interest rates remain high, and access to lending is tighter than in previous years. Both developers and buyers are forced to rethink their strategies, carefully weighing where and when to commit capital.

At the same time, regulatory unpredictability adds another layer of complexity. Developers increasingly face delays in permitting and administrative approval processes – factors that can shift timelines, reshape budgets, and even reconsider the viability of certain projects. In this environment, long-term planning becomes a delicate exercise in flexibility and risk management.

The residential sector, once a consistent engine of growth, enters 2026 on a slower footing. Rising construction costs, additional taxation, and a more discerning buyer base contribute to a measured pace. Demand shifts toward newer, more efficient homes.

And hovering over all these dynamics is the influence of geopolitical uncertainty. Regional tensions and external shocks continue to shape investor confidence, affecting everything from cross border capital flows to development strategies.

In 2026, several areas of the Romanian real estate market stand out as particularly promising for investors and developers. One of the strongest opportunities lies in high quality, energy efficient residential projects. Demand for modern, sustainable homes remains robust, with buyers increasingly drawn to properties that offer predictable living costs, advanced technologies, and long term environmental performance. As a result, this segment is expected to show continued resilience and stable pricing. Another area with notable potential is the office sector, particularly within premium Class A buildings. With demand gradually stabilizing and new supply limited, investors anticipate further rental growth throughout the year. Well located, high specification office spaces are likely to remain attractive long term assets. The industrial and logistics market also continues to shine as one of the most stable and dynamic sectors.

Significant opportunities are also emerging beyond Bucharest, driven by major infrastructure improvements. The anticipated completion of up to 350 km of new highways and expressways in 2026 is set to open new development corridors, strengthen secondary cities, and diversify the geographic spread of real estate investment.

2026 is shaping up to be a year of selectivity, where well structured, strategically positioned projects are expected to outperform the market. Investors who focus on fundamentals – quality, sustainability, and disciplined capital allocation – will be best positioned to seize the most attractive opportunities as the market continues to evolve

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

The Romanian real estate market in 2026 is expected to reward players who demonstrate strategic focus, invest in high quality assets, and embrace future oriented development strategies. Those who prioritize prime locations, sustainable practices, and strong execution capabilities are likely to stand out in an increasingly competitive landscape. Demand for new, energy efficient housing remains one of the most resilient segments. Buyers are becoming more discerning, gravitating toward projects that offer predictable living costs, sustainable design, and modern technological integrations. As a result, developers committed to ESG aligned standards are expected to be among the clear winners in 2026

At the same time, the complexity of legal, regulatory, and technical requirements continues to grow. Firms – whether law firms, consultants, or developers – that can seamlessly integrate expertise across M&A, finance, regulatory matters, and real estate will be best positioned to succeed in this more intricate environment.

2026 Trends with Mauricio Mesa Gomez, Cordia Romania & Spain
2026 Trends with Mauricio Mesa Gomez, Cordia Romania & Spain 1200 600 BUCHAREST REAL ESTATE CLUB

12.02.2026

Mauricio Mesa Gomez, Chairman of the Boards Cordia Romania & Spain

What were the main business results for 2025?

In 2025, at group level, Cordia delivered growth, while in Romania our year was best described as realignment, adapting to an increased fiscal and regulatory uncertainty. A key milestone was securing a strategically located, central site in Bucharest, near Bucharest Mall and close to Alba Iulia Square, and moving into execution. Construction has already started at Centropolitan, our 274-apartment premium residential flagship project, which anchors our next development cycle in Romania.

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

Our main objective for 2026 is to regain momentum and strengthen Cordia’s presence in Romania by delivering our plans and initiating a new development cycle in Bucharest. Practically, this means advancing construction milestones for Centropolitan, positioning it as a benchmark for premium, community-oriented living in a central location, while continuing to support healthy urban regeneration and sustainable communities.

In parallel, we will keep disciplined planning and rigorous risk management as predictability remains critical for avoiding supply gaps and sharp price increases for end-users.

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 continue testing the market under combined pressure from fiscal constraints, restrictive financing conditions and persistent cost inflation, alongside regional geopolitical uncertainty. On the regulatory side, new rules shaping the residential buying process will directly affect sales structuring and buyer protection mechanisms. We are preparing through scenario-based planning, strict financial discipline, tighter cost control and procurement planning, design and execution optimization for cost-efficiency and durability, and compliance readiness via internal legal/procedural reviews, stronger documentation flows to buyers and reinforced governance and internal controls.

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 main risks are prolonged fiscal and regulatory unpredictability, tight financing and cost pressure, which can delay investment decisions and create housing supply gaps, ultimately pushing prices higher and limiting access to quality homes. The strongest opportunities are in well-positioned, well-designed projects with solid fundamentals, especially those delivering real urban value through central locations, integrated functions, and a community-first approach aligned with how residents increasingly want to live and work in the city.

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

Winners in 2026 will be the players delivering consistently and differentiating through quality, concept and reliability, not just price. Strategies that will stand out include productivity gains through digitalization, tighter supply-chain partnerships, smart standardization. Just as importantly, companies that embrace transparent, client-protective practices will benefit from higher trust in a market where buyers are increasingly attentive to certainty and safeguards.

 

2026 Trends with Romeo Ghica, Hercesa Romania
2026 Trends with Romeo Ghica, Hercesa Romania 1200 600 BUCHAREST REAL ESTATE CLUB

12.02.2026

Romeo Ghica, Operations Manager, Hercesa Romania

What were the main business results for 2025?

In 2025, Hercesa Romania advanced its strategy of portfolio diversification and successfully launched Vivenda Prime, strengthening our positioning while keeping delivery discipline across the pipeline. We accelerated execution at Stellaris Residencias, a 4,500-apartment masterplan, and in December we launched Stage 4 of Phase 1, building on the strong commercial performance achieved earlier in the year. Across our Bucharest portfolio, we surpassed 600 apartments under construction, including ongoing works at Stellaris and Vivenda Residencias.

At the same time, we navigated cost pressure, especially labor in specific trades, by tightening planning and procurement and staying focused on sales and delivery targets, protecting both momentum and strategic direction.

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

Our main target for 2026 is to launch a new large-scale project, supported by a new acquisition, approached prudently and sustainably, with clear risk control and financial balance. We are focused on delivering planned units in our ongoing projects, including deliveries scheduled in the first part of the year, and on preparing the next phases of our large developments. We will continue the phased delivery strategy at Stellaris, with Stage 2 of Phase 1 planned for delivery and further phases under construction, bring Vivenda Residencias through its final stage and advance a set of upgrades at Hotel Cișmigiu, including improvements to common areas and accommodation spaces, in a positive context also supported by the activation of the ground floor through the new DeSoi restaurant.

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 construction-cost inflation (labor and utilities), financing constraints and overall consumer caution, while residential continues to act as a safe haven for many buyers in uncertain times. On the regulatory side, the most important theme is legislative and fiscal predictability. Volatility in public messaging and shifting rules can directly affect investment, financing and purchasing decisions. We also anticipate continued operational clarifications around the new buyer-protection framework, mainly in terms of procedures and interfaces with the banking/financial side.

To prepare, we are implementing a practical mix of measures, including digitalization and new technologies to improve productivity and reduce waste; closer partnerships with suppliers and contractors to increase predictability and quality consistency; selective standardization of technical solutions to reduce cost variance and speed up execution and a gradual adoption of green technologies, which are becoming easier and more affordable to integrate as the market matures. We also keep a phased development approach to manage risk in a dynamic environment.

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?

Key risks include continued cost escalation in labor, utilities and financing; uncertainty in the fiscal and legislative environment, which can delay decisions across the market and a market where rents no longer accelerate as in previous years, compressing yields and making investor-buyers more selective, potentially impacting absorption in certain segments. Regional geopolitical tensions remain an additional background risk that can amplify prudence and volatility.

Opportunities are strongest where the market is maturing toward quality-led differentiation. Buyers increasingly compare projects by execution quality and delivered value, not only by price. Another opportunity comes from public infrastructure investment, including European-funded projects. Public transport upgrades, boulevards and metro development can directly improve accessibility and raise the attractiveness of urban areas, supporting well-positioned residential projects. Finally, the increasing feasibility of green technologies can enhance product competitiveness as they become more standard across the industry.

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

Winners in 2026 will be the players delivering consistently and differentiating through quality, concept and reliability, not just price. Strategies that will stand out include productivity gains through digitalization, tighter supply-chain partnerships, smart standardization. Just as importantly, companies that embrace transparent, client-protective practices will benefit from higher trust in a market where buyers are increasingly attentive to certainty and safeguards.

2026 Trends with Ionuț Negoiță, HILS Development
2026 Trends with Ionuț Negoiță, HILS Development 1200 600 BUCHAREST REAL ESTATE CLUB

11.02.2026

Ionuț Negoiță, Founder & CEO, HILS Development

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

In 2026, our focus remains on expanding responsibly while maintaining the steady pace of development and sales achieved in 2025. One of our key objectives is the launch of Phase II of HILS Republica, a large-scale mixed-use urban regeneration project in the eastern part of Bucharest, with strong sales performance in Phase I.

We also plan to launch Phase III of HILS Titanium, introducing approximately 370 new apartments to the market, and to complete and hand over 500 apartments within the same development. In addition, we aim to finalize and deliver the first two buildings in HILS Sunrise, a green-certified project that supports our commitment to sustainable urban living.

Overall, we will continue to invest in long-term value — by delivering on time, maintaining a competitive offering, and enhancing the living experience through well-integrated, future-oriented communities.

What were the main business results for 2025?

2025 was a year of solid growth and consolidation for HILS Development. We recorded a 10% increase in the number of residential units sold, alongside a 15% rise in total sales value, reflecting a price per square meter increase of approximately 11%. These figures validate both the quality of our developments and the trust built with our clients.

Operationally, we marked several key milestones. We obtained the building permit and began construction on Phase I of HILS Nord, our newest large-scale development in the northern part of Bucharest, which will include 1,200 apartments in its first phase (out of 2,705 in total)

We also successfully delivered and fully sold two of our projects, HILS Brauner and HILS Splai, and finalized the handover of Phase I in HILS Republica, a mixed-use development focused on urban regeneration.

These results reinforce our long-term vision of building complete, sustainable, and accessible communities in key areas of Bucharest.

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

The real estate sector in Romania is navigating a mixed landscape of challenges and opportunities in 2026. One of the most significant fiscal changes impacting our business is the increase of VAT from 9% to 21% for residential units below 120,000 EUR—a segment that represents approximately 85% of our portfolio, primarily 1- and 2-room apartments. This measure directly affects affordability and purchase decisions for a large share of buyers.

At the same time, we anticipate construction costs to continue rising, driven by both labor and material prices. However, there are also signs of moderating inflation, which may lead to more favorable mortgage conditions, offering some relief to end buyers.

Despite these shifts, we remain optimistic. The fundamentals of the residential market in Bucharest are still strong—demand for quality housing in well-connected areas is constant. At HILS, we’re adjusting by optimizing design and phasing strategies, focusing on operational efficiency, and maintaining our core mission: delivering value through integrated, sustainable developments that meet real urban needs.

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

The main risks we anticipate for the Romanian real estate market in 2026 stem primarily from macroeconomic volatility and legislative unpredictability.

On one hand, a slowdown in economic growth or a rise in unemployment could translate into decreased purchasing power and a lower appetite for real estate investment. Even a slight shift in consumer confidence can impact absorption rates, especially in the mass-market and middle segments.

On the other hand, regulatory uncertainty remains a key concern. Sudden legislative changes—such as the recently debated “Nordis Law” can create instability or set new precedents for the broader residential market. These kinds of measures may influence how developers approach project structuring, sales models, and long-term investment strategies.

At HILS, we are focused on long-term resilience, ensuring our developments remain attractive, responsibly phased, and in line with the real needs of urban communities—regardless of market cycles.

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

In 2026, we see solid growth opportunities in the residential market, especially in Bucharest and Ilfov, where demand continues to outpace supply.

The structural housing deficit, coupled with ongoing urban migration and lifestyle shifts, supports the need for large-scale, well-integrated developments. This creates a favorable environment for developers who can offer accessible, well-positioned, and efficiently designed homes.

We also believe that urban regeneration projects and mixed-use communities will gain even more traction, as cities evolve toward multifunctional and walkable neighborhoods.

At the same time, the Romanian market remains attractive to both local and regional investors, thanks to its yield potential and improving infrastructure. The key is to deliver responsibly: quality, transparency, and long-term value will define the winners.

BREC AWARDS 2025: QUALITY LIVING AWARD
BREC AWARDS 2025: QUALITY LIVING AWARD 901 600 BUCHAREST REAL ESTATE CLUB

The annual BREC Christmas Party was a great opportunity to inaugurate BREC AWARDS, a new initiative designed to bring recognition to BREC members for their activity throughout the year in the real estate industry.

BREC AWARDS is our way to honour the visionaries who transform cities, redefine communities, and set new standards of excellence. BREC AWARDS has given us the opportunity to look closely at each member’s work in 2025 and highlight the investments, transactions, and companies that bring greater maturity and professionalism to the Romanian real estate industry.

QUALITY LIVING AWARD- AFI ROMANIA

PIONEERING THE BUILD-TO-RENT SECTOR – AFI HOME NORTH

AFI ROMANIA has long been known for its activity in ​​​​the management of shopping centers and office buildings. However, the company has turned its attention to a sector where not many investors look: residential build to rent.

AFI Home North was completed in early 2025, introducing a new way of life: fully furnished apartments, pet-friendly and with a series of facilities such as a gym or coworking center.

For the pioneering work they do in this field but also for raising the standards in the process of renting a home, we grant AFI ROMANIA the QUALITY LIVING AWARD.

QUALITY PERFORMANCE I LIVING AWARD – AKCENT CITY

OUTSTANDINGN SALES

Akcent City represents a large-scale development of 723 residential units, 900 parking spaces and 4,000 sq m of green spaces, in the area of the Jiului metro station.

We award Akcent City for sales performance: over 90% pre-contracted prior to completion.

QUALITY LIVING AWARD – CLOUD 9 EVOLUTION

BUILDING SUSTAINABLE COMMUNITIES THROUGH INVESTMENTS IN EDUCATIONAL INFRASTRUCTURE 

Built following an investment of 90 million Euros, on an area of ​​3.2 hectares, Cloud 9 Evolution will include over 1,000 apartments & parking spaces, as well as a wide range of integrated facilities.

We are happy to see that today residential projects are no longer just about apartments, but also dedicated infrastructure, facilities and green spaces. CLOUD 9 EVOLUTION allocates 3 million Euros for a new school with 10 classrooms, 4 laboratories, library, gym, medical office and administrative spaces.

QUALITY LIVING AWARD – HILS SUNRISE

A NEW BENCHMARK IN EASTERN BUCHAREST

HILS Development is developing HILS Sunrise, the first pre-certified Green Homes complex in eastern Bucharest.

HILS Sunrise implements the most of sustainable measures and solutions, improving the living conditions of the future community. Spread over an area of ​​15,000 sq m, HILS Sunrise will include 4 buildings, with 704 new apartments and 732 parking spaces. With a completion date of 2026, the project will benefit from the most integrated network of facilities, developed to date in HILS projects.

QUALITY LIVING AWARD – INTERO PROPERTY DEVELOPMENT

RESHAPING THE OBOR AREA

InteRo Property Development is a family office, founded in 2006 by Michael Topolinski, and later joined by his 3 children.

The investor is working on his most complex project, SkyLight Residece, which will modernize the Obor area. In total, the development will include 2,200 apartments, 115,000 sq m of offices, 8,540 sq m of commercial space and 28,000 sq m of green spaces. The first phase, with 551 apartments, is scheduled for completion in 2027.

We are granting the QUALITY LIVING AWARD for reshaping the Obor area.

QUALITY LIVING AWARD – HERCESA ROMANIA

TWO-DECADE PROPERTY LEADERSHIP

This year marked a double anniversary for the Spanish group Hercesa: 50 years since its foundation and 20 years of activity on the Romanian market. With 50 million square meters of land under management and 500 professionals within the group, Hercesa has delivered 30,000 homes in those 50 years.

In Romania, the investor completed 1,200 housing units and saved the Cismigiu Hotel from degradation, transforming it into a landmark in the center of Bucharest.

QUALITY LIVING AWARD – BHB PROPERTIES

THE COMMITMENT TO CREATE LIFESTYLE-CENTERED COMMUNITIES – BHB AVENUE

BHB Properties completed this year in the North area BHB Avenue: a premium project, offering high quality services: an urban garden, spa area or concierge services.

For the commitment and determination to create communities around shared values we are granting the QUALITY LIVING AWARD to BHB Properties.

QUALITY LIVING AWARD – IMPACT DEVELOPER & CONTRACTOR

INTEGRATED VISION FOR EXPANDING ACCESSIBLE HOUSING ACROSS THE COUNTRY

Impact Developer & Contractor is the developer with the longest experience on the real estate market in Bucharest: over 30 years and the first real estate company listed on the BVB in 1996. With such a history, the company has gone through all kinds of turbulent periods but has always successfully overcome numerous challenges.

And in 2025 they announce an ambitious plan: investments of almost 2 billion Euros for almost 10,000 new residential units in Bucharest, Constanta and Iasi.

For their vision to expand the concept of affordable housing nationwide we are granting the QUALITY LIVING AWARD.

QUALITY LIVING AWARD – CORDIA

CONTINUITY IN INVESTMENTS ON THE ROMANIAN MARKET

Cordia is one of the leading residential developers in Central and Eastern Europe, with a strong presence in Hungary, Spain, Romania and other key markets. The company’s portfolio includes over 11,000 apartments sold and 2,500 units under construction.

In Romania, Cordia has completed the Parcului20 project and is preparing to launch new residential developments in Bucharest, focused on energy efficiency and long-term value.

QUALITY LIVING AWARD – SEMA REAL ESTATE

VISIONARY URBAN INTEGRATION – SEMA HOME 

The vision for the development of the former industrial platform Semanatoarea is already almost 20 years old. This is where the initial investments in the office sector appeared.

We are glad to see that the owner also includes the residential component, with commercial facilities, through the recent launch of SEMA HOME.

For the vision of integrated development in the Semanatoarea area we are granting the QUALITY LIVING AWARD at BREC AWARDS 2025.

QUALITY LIVING AWARD – ATRIA URBAN RESORT

AFFORDABLE HOUSING IN NORTHERN BUCHAREST

Atria Urban Resort is a project developed in partnership by Cityring Development and Evergent Investments. Atria spreads over 6.5 hectares, near Lake Străulești, has a low-density concept, with a GF+4 regime, green spaces designed according to an integrated concept, swimming pools and playgrounds for children.

The project proves that affordable housing can be built in the northern area, seen more as an area for high-priced units.

QUALITY LIVING AWARD  – WEST GROUP

BEST INTEGRATED REAL ESTATE & CONSTRUCTION DEVELOPER

With an impressive portfolio of completed projects, WEST GROUP’s activity covers both industrial and residential constructions, as well as logistics and real estate solutions.

The group has over 800 employees and operates with 4 key divisions: West Construct, West Beton, West Logistik and West Imobiliare.

In Romania they have acquired the iResidence project and are preparing new investments.

QUALITY LIVING AWARD – DELTA STUDIO

KEY ROLE IN DEVELOPMENT OF THE RESIDENTIAL SECTOR THROUGH DESIGN EDUCATION

Delta Studio was founded in 1996 and has become a provider of integrated interior solutions for architects, designers, developers and end customers.

At BREC AWARDS 2025 we recognize their merits in terms of education in the field of interior design, they are the ones who campaigned for collaboration with professional designers when this seemed more like a caprice.

QUALITY LIVING AWARD – IMOBILIARE.RO

TRANSPARENCY FOR A MORE MATURE MARKET

Imobiliare.ro with a 25-year history, started as an listings site and has become today probably one of the main sources of qualified leads for many developers, but also the actor that brings transparency where it is most needed – housing prices.

At BREC 2025 we are awarding the company for their efforts to mature this sector through transparency.

HILS Nord, the newest project signed by HILS Development
HILS Nord, the newest project signed by HILS Development 1067 600 BUCHAREST REAL ESTATE CLUB

• HILS Nord is a mixed-use residential development spanning 10 hectares, 100% electric, nZEB and Green Homes pre-certified, located in the immediate vicinity of Lake Șaulei with direct access to the A3 motorway.
• The project has a total investment value of approximately EUR 200 million, coming from bank loans and own sources.
• HILS Nord will comprise 2,705 apartments, along with 35,000 sq m of generous green areas, retail spaces and community-focused amenities.
• Phase 1 includes 1,200 apartments, 1,440 parking spaces and over 11,000 square meters of landscaped green spaces.
• Estimated completion deadlines are 2028 for Phase 1 and 2032 for the full project.
• Through HILS Nord, the company is expanding its activity to the northern part of the Bucharest, continuing its strategic direction of diversifying its portfolio through middle-premium developments that are sustainable and adapted to new urban living standards.

HILS Development, leader in the residential and mixed-use developments in Bucharest, announces the launch of the HILS Nord project, the seventh residential project in the company’s portfolio. The new project marks HILS Development’s expansion from the east of the Bucharest to the north and continues the strategic direction of diversifying the portfolio through middle premium developments. Developed on an area of 10 hectares, with direct access to the A3 motorway, the entire HILS Nord project will include 2,705 apartments, green areas, underground and above-ground parking lots, commercial spaces, a spa center with a fitness room and a park with a direct view of Lake Șaulei. According to current plans, Phase 1 will be completed in 2028, and the entire HILS Nord complex by 2032.

“We have two decades of residential development in Bucharest, with more than 12,000 homes delivered, a journey that started in the north, continued in the southern area, in the 4th district and Popești – Leordeni, and then expanded to the east. Today, we are naturally returning to the north through HILS Nord, right next to the first residential project we launched 20 years ago. It is a mature step in a solid journey, throughout which we have constantly adapted to the needs of the city and its people. HILS Nord marks the continuation of a growth and consolidation story, with well-designed, sustainable homes that are truly connected to the real dynamics of Bucharest,” says Ionuț Negoiță, CEO & Founder HILS Development.

HILS Nord, modern homes, responsibly built for the future

HILS Nord is a mixed-use project designed to offer a modern and connected lifestyle, in harmony with the principles of sustainability and respect for nature. Currently, Phase 1 of the project is under construction, covering 3.5 hectares and including 4 buildings with 1,200 apartments available for sale. Over 11,000 square meters of this phase are dedicated to green areas, children’s playgrounds, and community leisure spaces. Phase 1 will feature 1,440 parking spaces both above and below ground, as well as electric vehicle charging stations, promoting a modern and sustainable lifestyle. The development will benefit from pedestrian access to Lake Șaulei, while within the HILS Nord community, Phase 1 will include a park of approximately 5,000 square
meters, featuring an open-air amphitheater, walking paths and viewpoints overlooking the Lake Șaulei. HILS Nord is a 100% electric, nZEB, Green Homes pre-certified concept. The project, with a total investment value of EUR 200 million, includes photovoltaic panels to reduce energy consumption in common areas, air-to-water heat pumps, underfloor heating, generous glazed surfaces, and ventilated facades. The architecture features terraced building heights of 2, 4, 5, 6 and 11 floors, ensuring a harmonious transition toward the surrounding natural environment. In the next development stages, the project will also include retail areas, completing the experience of a modern and balanced lifestyle.

HILS Development completes full sale of HILS Brauner, strengthening its presence in Bucharest’s Eastern Area
HILS Development completes full sale of HILS Brauner, strengthening its presence in Bucharest’s Eastern Area 800 600 BUCHAREST REAL ESTATE CLUB

HILS Development, a leading company in residential and mixed-use developments in Bucharest, announces the complete sale of the HILS Brauner residential complex, located in the eastern part of the city, in the Theodor Pallady – Victor Brauner area. Featuring 8 buildings, 1,336 apartments, and over 2,500 residents, the project has become a new landmark for modern urban living in the Romanian capital.

With this milestone, the company now counts three fully sold residential developments – HILS Pallady, HILS Splai, and HILS Brauner – totaling over 3,300 apartments in Bucharest’s eastern area.

“HILS Brauner confirms that when you build responsibly, results follow naturally. We designed this project for a generation that values comfort, proximity, and balance, and the sales pace clearly reflects that these values resonate with our buyers. HILS Brauner is a place where people can truly live well, not just reside. Every apartment, green space, and accessibility feature was designed with everyday life in mind. The fact that the project is now completely sold motivates us to continue investing in Bucharest’s eastern districts and to create increasingly connected and sustainable communities,” said Bogdan Bălașa, General Manager, HILS Development.

The development of HILS Brauner has visibly contributed to the transformation of the Pallady – Victor Brauner area. New retail and service investments have emerged around the complex, infrastructure and utilities have been upgraded, and today the area is among the most dynamic in Bucharest’s east.

The complex stands out for its efficient layouts, generous green spaces spanning over 8,500 sqm, playgrounds, relaxation areas, a football field, a coffee shop at the entrance, and an 8-level parking facility offering 1,363 parking spaces for residents and visitors. Strategically located just 600 meters from the Nicolae Teclu metro station, HILS Brauner provides easy access to public transport, shopping areas, and educational facilities, including the upcoming Victor Brauner Educational Complex, opening in 2025, with capacity for 450 students.

Long-Term Vision: Urban Regeneration and Sustainability

HILS Brauner joins the strong portfolio of HILS Development alongside HILS Pallady, HILS Splai, HILS Titanium, HILS Sunrise, and HILS Republica—projects that collectively contribute to transforming Bucharest’s eastern area into a modern, well-connected, and sustainable residential zone.

Currently, HILS Titanium is in its second development phase, featuring over 10,000 sqm of green areas and modern comfort solutions, while HILS Sunrise marks a first for the eastern part of Bucharest as the first pre-certified Green Homes residential complex in the area. Meanwhile, HILS Republica stands as the largest urban regeneration and mixed-use development project in Bucharest’s east, setting a benchmark for the company’s future investments.

Start Typing