Vastint

Eldrive Romania celebrated the opening of its new office alongside partners
Eldrive Romania celebrated the opening of its new office alongside partners 899 600 BUCHAREST REAL ESTATE CLUB

The companies part of Renalfa Solarpro Group, Renalfa, Solarpro, Toki Power Romania and Eldrive Romania, celebrated the opening of their new office alongside partners.

On May 13, the Romanian teams of the RSG celebrated the opening of their new office of approximately 750 sqm in Oregon Park, Bucharest, through an event dedicated to collaboration, networking, and strengthening relationships with partners and guests from various industries.

The program included a series of speeches delivered by representatives of the four companies sharing the new office space.

Konstantin Nenov, Founder of Renalfa Group, opened the speeches by highlighting the long-term vision behind the ecosystem formed by Eldrive, Solarpro, Renalfa, and Toki Power Romania, as well as the importance of innovation and strong partnerships. “Our business mentality is that we bet on very long-term relationships. We grow together, we develop together, and we innovate together,” he said.

George Tecușan, Country Manager of Renalfa Romania, continued by emphasizing the importance of collaboration, partnerships, and the people behind the group’s strategic objectives.

“We are innovators, but we need an ecosystem to thrive and to develop. This journey cannot be done alone,” he said.

He also thanked the partners and stakeholders present at the event for their trust, support, and contribution to the group’s development in Romania.

In his speech, Stefan Spassov, CEO of Eldrive, highlighted the strategic importance of Romania for the company and the rapid evolution of the country’s EV charging infrastructure. He emphasised Eldrive Romania’s milestone of reaching 1,000 charging points nationwide and outlined the company’s plans to continue investing in stronger and more reliable charging infrastructure, new high-performance charging hubs tailored to the Romanian market, and future-ready solutions for electric trucks and heavy-duty vehicles.

“Romania is not simply another market for Eldrive, it is a strategic priority and a country where we strongly believe in the long-term potential of e-mobility,” said Stefan Spassov.

Kamen Nedyalkov, Country Manager of Solarpro Romania, emphasized the importance of collaboration and strong partnerships in supporting the company’s projects and long-term ambitions in Romania. He also highlighted Solarpro’s commitment to delivering projects on time and at the highest quality standards.

“This is just part of the way we are being ambitious to develop the market here and to grow together with our partners,” he said.

Aurel Mindrican, Country Manager of Toki Power Romania, spoke about the company’s role within the wider Renalfa Solarpro Group ecosystem and its focus on optimizing the commercial operation and performance of production and storage capacities.

“For Toki Power Romania, the priority is the commercial operation and performance optimization of the production and storage capacities of both our partners and the Renalfa Solarpro Group,” he stated.

Camelia Popescu, Country Manager of Eldrive Romania, spoke about the journey of the local team and the importance of collaboration in accelerating the transition to electric mobility.

“This new office represents much more than a physical move. It reflects who we are becoming as a company: a place where ideas grow, partnerships strengthen, and innovation happens,” she said.

The companies also extended their thanks to Lion’s Head, the owner and operator of Oregon Park, for hosting the new shared office space.

Following the official session, guests had the opportunity to discover the new office and continue the discussions during a networking lunch focused on future projects, collaboration opportunities, and the continued development of sustainable mobility in Romania.

We would like to thank everyone who joined us for this special occasion, and we look forward to continuing to build ambitious and sustainable projects together.

West Group launches the KronenPark Residences brand, announces four residential projects in Romania and Germany, and targets a turnover of 75 million euros in 2026
West Group launches the KronenPark Residences brand, announces four residential projects in Romania and Germany, and targets a turnover of 75 million euros in 2026 900 600 BUCHAREST REAL ESTATE CLUB

West Group, a real estate developer operating on a German business model, is announcing a major milestone in the consolidation and development of its portfolio. The residential complex previously known as iResidence becomes KronenPark Residences. The rebranding follows West Group’s full acquisition of the project and its integration into the portfolio of developments the group is building under the Kronen brand.

The new identity marks the group’s commitment to the clients who have trusted the project from the very beginning and reaffirms the promise to deliver homes to the highest quality standard in the northern area of the capital. Simultaneously, West Group is announcing four residential projects under development in Romania and Germany and a consolidated projected turnover of ~75 million EUR for 2026.

The rebranding reflects a long-term portfolio strategy. West Group is simultaneously developing KronenPark Residences in Pipera, a boutique project in Cotroceni, multi-family vacation homes in Sinaia, and a residential project in Offenbach (Frankfurt), the city where the group also has a subsidiary.

„The market is maturing and buyers are making the distinction between a project and a product. KronenPark Residences is a product with a technical standard, a services ecosystem and a brand identity that we can replicate in every future development. This is the Kronen promise”, said Dan Crăciunescu, founder of West Group.

The announcement comes at a time when Bucharest’s residential market is going through a phase of maturation and consolidation. New apartments in the capital have risen in price by 24% over the past year, and estimates point to over 20,500 new homes in Bucharest and its surroundings in 2026. The northern area remains the primary development hub, with over 8,500 units in the pipeline. In this competitive landscape, buyers are becoming increasingly selective and favour well-built, energy-efficient projects with multiple amenities.

KronenPark Residences – 45% reservations in the first phase, accelerating demand

Developed on a 23,000 sqm plot in the Pipera – North Bucharest area, the project comprises 547 apartments across 8 buildings, with 57 typologies , ranging from studios to panoramic penthouses and apartments with private gardens. The first phase (273 homes) has a reservation rate of 45%. Of these, 5 percentage points were added in just three weeks, signalling a significant acceleration in demand as the project gains visibility and progresses in construction.

The construction site is progressing on schedule. The structure is fully completed. Reynaers aluminium exterior joinery with triple-pane thermal insulation glazing has been installed on all buildings. Interior partitioning is complete in building B3 and nearing completion in buildings B1 and B2. Facade installation will begin on May 18, 2026. Electrical, HVAC, sanitary, and thermal installation works are underway.

KronenPark Residences integrates smart-home infrastructure, a BMS system for energy consumption optimisation, valet parking, 24/7 reception, a secured parcel area, property management and concierge services. Vehicle circulation is exclusively underground. The project features 810 parking spaces across two levels, EV charging stations and bicycle parking. At ground level, a 15,000 sqm private park is planned, the largest in the area, with a promenade, cycling and jogging track (~500 m), a multi-purpose sports court, a wellness area and pet-dedicated spaces.

Hybrid Working Accelerates the Rise of Flex Office
Hybrid Working Accelerates the Rise of Flex Office 900 600 BUCHAREST REAL ESTATE CLUB

As the way we work shifts from traditional to decentralised models, Flex Office solutions are gaining significant ground — whether through coworking operators or landlord-led flexible offerings. This is one of the key conclusions of THE NEW DESIGN OF WORK, the office conference organised on 6 May by Bucharest Real Estate Club and Romania Property Club.

Data from iO Partners highlights a diversification of occupancy strategies, identifying five distinct working models adapted to the new economic realities. “While the Office Centric model assumes office presence of up to 75% — with a strong 70% focus on individual work — the market is witnessing a paradigm shift among organisations with lower utilisation rates. Companies recording office presence below the 30–45% threshold are already transitioning towards flexible options, optimising space by adjusting the sharing ratio and prioritising social interaction over static workstations,” explains Laura Ene, Senior Consultant, Tenant Representation, iO Partners. On the rents side, iO Partners data shows that in Bucharest rates range between €15–22 per sqm per month, while in regional centres — Cluj-Napoca, Timișoara, Iași and Brașov — they sit between €12.5 and €17 per sqm. The lowest vacancy rate is recorded in Brașov at 6.7%, while Iași leads at 13.3%; Bucharest stands at 10.3%. Between Q1 2025 and Q1 2026, approximately 300,000 sqm were transacted in Bucharest and 51,000 sqm in regional centres, with Cluj-Napoca, Timișoara and Iași being the most active markets.

Vastint is currently developing the largest office construction site in Bucharest — the second phase of Timpuri Noi Square, spanning 60,000 sqm. “The new building is designed as a landmark project that eliminates fossil fuels and relies entirely on renewable energy sources, including 1,700 sqm of photovoltaic panels, heat pumps and geothermal wells. Our goal is to achieve LEED Platinum certification at the highest level — above 100 points. Phase 2 also introduces an expanded retail mix, including New Tales — a unique concept set to combine a diverse food and beverage offer with cultural services across approximately 6,000 sqm,” says Maria Badea, Senior Leasing Manager, Vastint Romania.

CPI Property Group Romania manages an office portfolio of 280,000 sqm, representing 8% of Bucharest’s modern stock. The portfolio has been significantly strengthened through the expansion of medical and healthcare assets — buildings such as Iride Eighteen, myhive Victoria Park and Băneasa Airport Tower have been partially or fully converted into medical spaces, now hosting private healthcare operators including Provita, Leventer Medical Group and Regina Maria. “For us, this move not only diversified our tenant mix, but also increased stability and predictability, improved utilisation rates in a hybrid working context, enhanced asset value and occupancy — and, not least, created a clear differentiation from the competition,” explains Andreea Cotigă, Head of Leasing Office, CPI Property Group Romania.

The concept of coworking and flexible office spaces has evolved considerably — from being primarily associated with startups and freelancers to gaining broad adoption among large enterprise companies. “Flexible office spaces and managed offices are becoming an increasingly common choice for companies at a certain stage of their evolution, when the need for adaptability and scalability becomes essential. These solutions allow them to avoid long-term lease commitments, optimise fixed costs and integrate flexibility as a strategic component of their real estate portfolio — not merely a temporary fix,” says Andreea Birladeanu, General Manager, Mindspace Romania, one of the leading players in the flexible workspace market, operating two major hubs in key areas of Bucharest: Mindspace Business District in the Dimitrie Pompeiu area, and Mindspace Victoriei in the central zone.

Ana-Maria Nemțanu, Director of Leasing, Hagag Development Europe, adds: “We are seeing sustained demand for boutique office spaces, particularly in premium central locations where accessibility, design quality and the amenities mix play an essential role in occupancy decisions. Flexibility and service integration are becoming increasingly relevant criteria for tenants, which sustains strong interest in fully serviced private office concepts. A clear example is H Private Arghezi, our business centre in the CBD, which reached 89% occupancy in April, supported by a retention rate of nearly 95%. At the same time, we are observing a natural growth path among tenants, with some migrating from serviced spaces to conventional areas within our portfolio — confirming both the appeal of the product and the importance of services and long-term relationships.”

 

BREC AWARDS 2025: OFFICE INNOVATION AWARD & SUSTAINABILITY AWARD
BREC AWARDS 2025: OFFICE INNOVATION AWARD & SUSTAINABILITY 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.

OFFICE INNOVATION AWARD – VASTINT ROMANIA

INTEGRATING THE LARGEST FOOD HALL IN AN OFFICE DEVELOPMENT – TIMPURI NOI SQUARE

Vastint’s large development has completely changed the Timpuri Noi area of ​​Bucharest.

Currently, the investor is working on the second phase of the project, covering an area of ​​60,000 sq m. Once completed, it will double the total leasable area of ​​the project, which will thus reach 112,000 sq m.

At BREC AWARDS 2025 we are awarding them for a special concept: New Tales, the largest food hall that will be integrated into an office area.

OFFICE INNOVATION AWARD – GTC ROMANIA

LONG-STANDING COMMITEMENT FOR HUMAN-CENTRIC WORKSPACES

Today, the company has a 30-year history in Central and Eastern Europe. In Romania, one of the most recent investments was the renovation of the group’s flagship project, the City Gate towers in the Romexpo area.

At BREC AWARDS 2025 we recognize their long-term commitment to the office market.

OFFICE INNOVATION AWARD – THETA FURNITURE & MORE

TRUSTED PARTNER FOR OFFICE LANDLORDS

Theta Furniture & More is a company with a history of over 15 years in Romania, during which it became one of the largest local integrators of interior design solutions, with its own furniture production unit, in Prahova County.

At BREC AWARDS 2025 we grant them the OFFICE INNOVATION AWARD for being a trusted partner for office investors.

OFFICE INNOVATION AWARD – GENESIS PROPERTY

LEADERSHIP IN RECONVERSION – YUNITY PARK

Genesis, one of the largest office owners in Bucharest, is constantly investing in its properties.

We are granting them THE OFFICE INNOVATION AWARD  for the Yunity Park concept, a project that has undergone a reconversion process which includes the addition of an amphitheater and green spaces – a 2,000 square meter urban forest. The project is entering its final development phase, which will include an Innovation Center with a food hall, conference center, co-working spaces and a kindergarten.

OFFICE INNOVATION AWARD – BL ASSOCIATES

EXCELLENCE IN WORKSPACE DESIGN

BL Associates is a company founded by Brandon Lee. Born in Malaysia and educated in Singapore, Bradon worked in China and Taiwan but remained in Romania.

BL Associates has numerous notorious collaborations in the field of office design, some of the most famous being with Banca Transilvania.

At BREC AWARDS 2025 we grant them the OFFICE INNOVATION AWARD for excellence in workspace design.

SUSTAINABILITY AWARD – KAUFLAND ROMANIA

EXCELLENCE IN RETAIL OPTIMIZATION & CUSTOMER-CENTRIC MANAGEMENT

Kaufland Romania is a company which pays special attention to the ESG component. According to their latest report, the company has invested 63 million Euros in ESG initiatives regarding the supply chain of its stores, reducing its environmental impact and projects with impact in the Community.

We award Kaufland for excellence in retail optimization and customer-centric management.

SUSTAINABILITY AWARD – VGP ROMANIA

HIGHEST INTERNATIONAL STANDARDS IN INDUSTRIAL DEVELOPMENT

VGP Romania is part of the VGP group, a pan-European developer, manager and owner of high-quality logistics and semi-industrial properties, as well as a provider of renewable energy solutions. In Romania, it owns logistics parks in Bucharest, Brasov, Timisoara, Arad and Sibiu.

VGP Park Arad has received this year the BREEAM Outstanding certification with 96.3%, representing the highest score worldwide awarded to an industrial building.

SUSTAINABILITY AWARD – SEACE ROMANIA

LEADERSHIP IN TECH EDUCATION FOR SUSTAINABLE SOLUTIONS

Samsung climate solutions have seen double-digit growth in the last five years in the Romanian market.

At BREC Awards 2025 we recognize SAMSUNG ELECTRONICS AIR CONDITIONER EUROPE for their educational initiative aimed at engineers and installers to explore state-of-the-art HVAC technologies, delivering maximum value to end users.

SUSTAINABILITY AWARD – BUILD GREEN

SUSTAINABLE COMMUNITY IMPACT

Build Green is a company that practically identifies itself with the sector of sustainable certification.

The firm started its activity in Romania and today has a presence in 27 countries, has certified over 900 projects with a total area of ​​12.5 million square meters and investments totaling over 14 billion Euros. At BREC Awards 2025 we grant them the award for sustainable community impact.

SUSTAINABILITY AWARD – ELDRIVE ROMANIA

DYNAMIC CHARGING NETWORK EXPANSION

Eldrive has reached 1,000 electric charging points nationwide, and beginning of December 2025 was an important point for them, because they inaugurated in Pitesti the first HYC1000 EV charger in Eastern Europe, with a power of 1 MW, for very fast charging of electric vehicles.

At BREC Awards 2025 we grant them the SUSTAINABILITY AWARD for the dynamic expansion of the charging network.

SUSTAINABILITY AWARD – MEDARU ARCHITECTS

PROMOTER OF HISTORIC INFILL CONCEPT – MODERN INTERVENTIONS ENHANCING HISTORICAL HERITAGE

Founded in Iasi, MEDARU ARCHITECTS offers services in numerous areas of expertise both nationally and internationally.

At BREC Awards 2025 we are rewarding them for their contribution to sustainability by promoting the HISTORIC INFILL concept: modern interventions can enhance a city’s heritage, without dominating it. Revitalizing historic areas can be done without losing their identity, while integrating contemporary design solutions with low carbon emissions.

SUSTAINABILITY AWARD – 4ENVIGO

BEST STRATEGY FOR ENERGY PERFORMANCE

The young company was founded by the ambition of a professional expert to become an entrepreneur. Founded by Andrei Ivan, 4ENVIGO emerged from the need to provide smart, energy-efficient climate solutions, at commercial and industrial levels, to organizations committed to reducing their carbon footprint in their fight against global warming.

At BREC Awards 2025 we are offering the award for the best strategy in terms of energy performance.

SUSTAINABILITY AWARD – ADP GREEN BUILDING

LEADERSHIP IN PROMOTING GREEN DEVELOPMENT 

ADP was founded in Cluj-Napoca by Adrian Pop and focuses on Green building consulting and certification.

At BREC Awards 2025 we are offering the SUSTAINABILITY AWARD for leadership in promoting green development.

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