All posts by tudor@cijeurope.com.

WIN Herăstrău residential project expands

WIN Real Estate begins construction and WIN Brokers launches sales for the last building in the WIN Herăstrău residential complex, located in the Şoseaua Nordului area of the capital. The new building will have a limited number of 50 apartments and commercial spaces.

Given inflation, the war in Ukraine, the post-pandemic effects, the unpredictability of logistics chains, the more careful construction authorization process in Bucharest and other factors, the cost of construction works has increased significantly. To counterbalance these pressures and facilitate access to a wider category of customers, apartments in the new building will be able to be purchased in two ways: a) in the classic system, the full price of the apartment and the land on which the construction is located is paid; b) in a system inspired by Western Europe but for the first time on the Romanian market: the full price of the apartment is paid and the adjusted price of the land on which the construction is located will be paid over a period of 30 years.

The developer anticipates the completion of construction works in February 2027.

Source: Profit.ro

Allview builds a EUR 25 million photovoltaic park in Ialomita

The Renewable EPC division by Allview signs a large-scale contract with the company Tenersolar Park S.R.L. worth approximately EUR 24.6 million, for the development of a 45.15 MW photovoltaic park in Tandarei, Ialomita County. The total value of this contract is EUR 24.6 million.

“The signing of the 45.15 MW contract represents a significant achievement for our company and confirms the strategic direction established for 2024. This project, in addition to representing a decisive step towards achieving the objective of contracting 100 MW in photovoltaic projects by the end of this year, will contribute to doubling the turnover and profit of Visual Fan in the coming years. At the same time, the signing of the contract with Tenersolar reflects our firm commitment to a better future for future generations,” the company said.

Source: conomica.net

Forty Management launches the first bond issue on the Bucharest Stock Exchange

Romanian developer Forty Management announces the launch of the first issue of guaranteed bonds worth a maximum of EUR 5 million, with a maturity of four years and a coupon payable semi-annually. Recently, developer Nusco also announced the listing of bonds on the Bucharest Stock Exchange, also worth EUR 5 million.

The private placement is coordinated by broker Goldring and represents a first step in testing the capital market by Forty, as a new financing solution in the company’s evolution towards listing on the stock exchange.

“In the last nine years, Forty Management has grown organically, developing innovative and sustainable projects, traditionally financed through equity and bank loans. Today, we are ready to explore the option of the capital market, in a context in which the local market is mature enough for such financial instruments and open to sustainable financing with a positive long-term impact,” said Lucian Azoiței, CEO of Forty Management.

Park Properties to start construction of the third block in the Sun Lake Residence in 2025

Real estate developer Park Properties will launch construction of the third block in the Sun Lake Residence project, located on the shores of Lake Fundeni in the Capital, in 2025, and will reach a total of over 300 apartments in this project.

“The Sun Lake Residence project located on the shores of Lake Fundeni has 308 apartments and 350 parking spaces. We have completed the first two 12-story blocks, a total of 140 apartments, and we have sold all the units in the complex, we only have a few penthouses left. We intend to start the 18-story block in 2025,” explained Alexandru Mănăilă, managing partner, Park Properties.

Park Properties sold about 70 apartments in the Sun Lake Residence project in 2024, and the block on which construction begins in 2025 will include 168 apartments. Currently, the developer is finalizing the landscaping of the complex’s courtyard and wants to start handing over the units by the end of the year.

Source: zf.ro

Mirel Rădoi enters the real estate market with a network of retail parks

Former Romanian football player and national team coach Mirel Rădoi has entered into a partnership with entrepreneurs Florentin Avădanei and Bogdan Macovei, the latest associate of real estate developer One United Properties, with the aim of launching a network of retail parks in several localities in Romania.

Entrepreneur Florentin Avădanei, founder of the Goldbach group, specialized in construction and real estate developments, has co-opted Mirel Rădoi and Bogdan Macovei into 5 of his project companies, named after the localities targeted for the development of retail parks, namely Oravița (Caraș-Severin), Moreni (Dâmbovița), Huși (Vaslui), Titu (Dâmbovița) and Drobeta-Trunu Severin (Mehedinți).

Mirel Rădoi took over 25% of these companies, Bogdan Macovei 50%, and the remaining shares remained with Florentin Avădanei.

Goldbach Construct is known for building several Kaufland and Lidl hypermarkets and collaborating with Element Group, a developer founded by entrepreneur Ionuț Dumitrescu.

Source: Profit.ro

Croatia’s Primo acquires Slovenia-based Ferba Projekt

Croatian investment company Primo Real Estate has signed with Swiss investment company Ferba a deal to buy Slovenian real estate company Ferba Projekt with an estimated transaction value of EUR 24.48 million. The deal is subject to approvals from the regulatory bodies of Slovenia.

Ferba Projekt manages real estate for industrial production and warehousing in Kamnik, 15 kilometres from the Slovenian capital Lljubljana.

Considering the similarities of the real estate markets in Croatia and Slovenia, Primo remains open to potential further acquisitions of real estate including office buildings, logistics and distribution centres, and industrial real estate that offer rents as long-term source of revenue.

After the completion of this deal, Primo will manage commercial real estate with overall 67,000 square metres and its total assets will reach EUR 75 million.

Radisson Blu Cluj Napoca will complete its new building in the second half of 2025

The five-star Radisson Blu hotel in Cluj-Napoca, opened in the summer of 2022, is expanding its capacity. Construction of a new wing, which will add 20 premium rooms and suites, began this year and the structure is due to be completed in January 2025.

The new spaces are scheduled to open in the second half of next year, according to Nina Moldovan, chairman of the board of Winners Park Invest, the company that manages the hotel. The expansion comes after a busy period for the hotel.

In September and October, the Radisson Blu operated at an average occupancy rate of 58%, hosting nearly 100 events, mostly organized by companies in the IT, insurance, manufacturing and medical industries. The hotel’s spaces were also used for private events, including weddings and anniversaries. In addition to increasing its capacity, Radisson Blu Cluj-Napoca has budgeted a turnover of EUR 7,7 million for this year.

Fratelli signs contract to replace La Mama Ateneu restaurant

Fratelli Group has signed the lease agreement for the former La Mama location at Ateneu, in the center of the capital, which was closed after 22 years of operation, and will open a new restaurant in its place in the spring of 2025.

“It will be a modern restaurant, which will be called Casa Fratelli. It is in the same line as what is happening at Fratellini, Biutiful or Uanderful. We do not yet know how much the investment will be, but it will be quite large. We want to target the premium audience, and as for the menu, we have not yet established anything. We have some things in mind, but we have not decided yet. We would like to open it sometime in the spring, most likely in April,” says Dani Caramihai, shareholder of the Fratelli group.

The capacity of the new restaurant will be about 120-130 people on the terrace, and there will be a similar volume inside.

Source: Profit.ro

MedLife to open new hospital in Craiova

MedLife has inaugurated the new MedLife Craiova Hospital, an investment of almost EUR 6 million. The new hospital covers an area of 3,400 square meters and will be fully open in early 2025.

“This hospital is not only an investment in health, but we aim to offer patients quick access to complex investigations and treatments, with the support of a top medical team and the most modern technologies. In fact, we currently own the only private hospital network with national distribution and we are committed to remaining pioneers in the development of private medicine in Romania,” said Mihai Marcu, President and CEO of MedLife.

MedLife Craiova Hospital joins the 15 hospitals, the 200 clinics and hyperclinics, and the 34 laboratories in the MedLife network. Currently, MedLife has the largest diagnostic and treatment platform in the country.

Source: economica.net

Kaufland has opened new store near Bucharest

Kaufland Romania is expanding its presence nationwide and opening its sixth store in Ilfov County. Thus, the company is creating over 70 new jobs and supporting the development of the local community.

Located on Pipera Boulevard, no. 2/IX, the new Kaufland is built on a total area of almost 6,200 sqm, with a sales space of over 3,300 sqm. The new location offers 267 parking spaces.

The shopping gallery offers access to a variety of shops and services, such as the Doctor Skin beauty center, Dr. Max pharmacy, Sibianul, Beautifier, Good2Go, etc.
Kaufland is among the largest retail companies in Europe, with over 1,550 stores in 8 countries, over 155,000 employees and a network of 184 stores in Romania.

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