Wallberg concludes a financing agreement with Banca Transilvania

The developer Wallberg Properties, controlled by businessman Valentin Morar, has obtained the construction permit and financing for the fourth residential building in the XCity Towers complex, the first residential tower district developed in the northern area of Timișoara, which will total over 1,000 apartments. The developer has also prepared the organization of the construction site and has started construction works. In parallel, the construction of the third tower in XCity Towers is being completed, which will be delivered this year.

The financing worth EUR 5.9 million is provided by Banca Transilvania, the developer’s new strategic financial partner. The market value of the project is estimated at 10.5 million euros. The building, symbolically named Four, will have a height of 11 floors and will include 77 individual units.
The number of apartments that Wallberg is preparing in Timisoara, in phase 1 of the project, will thus exceed 500 units, along with over 598 parking spaces and over 3,000 sqm for commercial spaces, as well as a park of over 6,000 sqm at the disposal of over 1,000 residents.

Source: Proift.ro

Galați City Hall launches tender for professional campus construction contract

The Galați City Hall has put out to tender the contract for the construction of a modern professional campus for dual education, after funds were obtained for this purpose through the National Recovery and Resilience Plan (PNRR).

The campus will consist of a series of spaces: four dormitories with accommodation for at least 300 students; an amphitheater for conferences; ten workshops and two workshops for university education; ten classrooms; a library with a reading room; three multifunctional rooms; a dining room with a capacity of 180 seats.
The unit will also have spaces for spending free time: three multifunctional sports fields, a park, green spaces and car parks.

The contract launched in public auction for the objective “Construction and equipment of a regional integrated vocational campus for dual education in Galați” has an estimated value of RON 74.7 million.

Source: economica.net

Samsung Electronics Partners with CIJ Awards Romania 2024

CIJ EUROPE is proud to announce that Samsung Electronics Air Conditioner Europe B.V. (SEACE) will be a partner of the prestigious CIJ Awards Romania 2024, set to take place on December 4th at the Radisson Blu in Bucharest.

Since introducing its first air conditioner in 1974, Samsung Electronics has been redefining indoor climate comfort for tomorrow’s society. For every space where people create memorable experiences together, be it commercial spaces or residential homes. At Samsung, we go beyond convention, through a relentless focus on pushing the boundaries of technology, innovation and design.

Samsung Electronics entered the European market of commercial air conditioning in 2005. Due to rapid growth and in support of its long-term commitment to the European market, Samsung Electronics Air Conditioner Europe B.V. (SEACE) was opened in 2017 in Amsterdam, the Netherlands.

SEACE aims to harmonize activities across more than 30 European countries. SEACE offers ongoing technical training in climate and smart building solutions; after-sales and technical support for its industry partners; backed by Samsung’s quality reputation and leading-edge innovation, including digital connectivity solutions. SEACE thrives to fulfill the needs of its European markets including for both the commercial and residential market with innovative cooling, heating, domestic hot water, refrigeration, and smart building solutions.

The CIJ Awards Romania 2024 will recognize outstanding achievements across various categories, including residential, commercial, and mixed-use developments. This high-profile event will bring together leading professionals and highlight the latest trends and successes in the Romanian real estate market. For more details about the event, please check out our website: https://lnkd.in/dpJvqsbF

Anchor Grup’s newest project, Select Residences, enters delivery phase with 75% of units sold

Select Residences, the newest residential complex powered by Anchor Grup has officially entered the delivery phase. Started in 2021, with an investment of EUR 45 million and focused on providing quality living spaces and an enhanced lifestyle experience, the development is quickly becoming a preferred choice for those seeking a balanced, urban lifestyle in Bucharest. The project has reached over 75% of the available units already contracted.

Located on Calea Dudești No. 186, in the Dristor/Vitan area, near București Mall, the complex includes 347 apartments – studios, two and three rooms and duplexes – with surfaces between 46 and 175 net sqm and terraces of up to 37 sqm. The project covers an area of 8,500 sqm of land and has approximately 47,000 sqm built, including the underground, and each of the three buildings has a height of S+P+10E+Duplex. The complex also offers green spaces, as well as an underground parking lot that connects all three buildings.

Starting with September the residents began moving in and Select Residences has become a new community hub.

“We are extremely proud to see the community beginning to take shape at Select Residences. Our goal has always been to offer more than just homes—we wanted to create a living environment where people feel connected. The fact that 75% of the units have been sold ahead of delivery is a statement to the strong demand for well-conceived residential projects in Bucharest. Select Residences’ commitment to quality and detail has resonated with buyers, from young professionals to families and investors, who are eager to be part of this flourishing neighborhood,” stated Affan Yildirim, General Manager, member of the Board of Directors of Anchor Group and member of the Board of Directors of Shopping MallDova.

Mufrima Investment acquires North Macedonia’s Orka Hotel

UAE-based company Mufrima Investment has acquired North Macedonia’s Orka Hotel, operator of the Ibis hotel in Skopje, according to the local media.

The Ibis Hotel, which has seven floors and an attic, comprising 110 rooms. It was opened in 2015, as part of a franchise of the French hotel chain, on a construction plot behind the “Jadran” hotel. The facility was built in parallel with the Marriott – one close to the other. The hotel’s revenue last year amounted to EUR 1.75 million, and the profit was about EUR 230,000.

After the transaction was completed, Orka Hotel was renamed to Mufrima Hotel.

SVN: Construction permits issued in Bucharest halved in the last three years

The number of construction permits issued for residential buildings located in Bucharest has almost halved, while the total usable area authorised for construction decreased by 62% in the last three years, according to a market report released by real estate consultant SVN Romania.

Thus, 272 construction permits for residential buildings were issued in Bucharest in the first nine months of 2024, 4.2% lower compared to the similar period of last year. 366 permits were issued in the first nine months of 2022, while in the first three quarters of 2021 were issued 496 construction permits – thus, the current number of permits is 45% lower than 2021´s level.

At the same time, the decrease in the total usable area authorised for construction in residential buildings in Bucharest is even more accentuated: the first nine months of 2024 brought a decrease of 62% compared to the level registered in the first nine months of 2021, reveals “SVN Romania Residential Market Drive” report.

”This drop registered in recent years already has a visible effect: the number of new homes delivered in Bucharest and its surroundings is at its lowest half-yearly level in the last five years, in a context in which home sales increased according to the official statistics. The current situation will continue in the coming years, which will translate into higher prices and a reduced accessibility. In addition, and just as important, there are investments of hundreds of millions of Euros, even billions, that Bucharest is losing due to the current urbanistic deadlock. And we are not only talking about residential projects that a developer does not build, but also office buildings, for example, which can lead to higher costs for companies and more difficult team expansions,” stated Andrei Sarbu, CEO SVN Romania.

Another effect is the redirection of the attention of some developers towards Bucharest´s limitrophe areas. In fact, 2023 brought a premiere from this point of view: Ilfov county surpassed Bucharest for the first time in terms of the total usable area authorised for construction in residential buildings, according to the data of the National Institute of Statistics (NIS) – a situation that was also recorded in 2024.

23% fewer new homes were delivered in Bucharest and its surroundings in the first half of 2024, compared with the first half of 2023. SVN Romania estimated in its spring report that 2024 could bring the lowest number of home deliveries registered in the last five years.
Almost 41,400 homes were sold in Bucharest in the first 10 months of 2024, up 11.3% compared to the first ten months of 2023, according to the data of the National Agency for Cadastre and Land Registration. At the same time, the number of residential transactions closed in Bucharest – Ilfov region was 14.3% higher in the same period.

German group Henkel moves its headquarters to Equilibrium 2

German group Henkel, which has over 500 employees in Romania, will move its headquarters to the Equilibrium 2 office building, and the old headquarters in the Bucharest Floreasca district is being sold.

Henkel has leased about 4,000 square meters for the new headquarters located on the 10th and 11th floors of the Equilibrium 2 building, delivered by the Swedes from Skanska in December 2022. This is one of the largest rental transactions this year, excluding contract renewals.

In parallel, Henkel is in advanced discussions for the sale of the old headquarters, located near Verdi Park in the Floreasca district. The main reason for Henkel’s move is the need to have a more efficient headquarters, with updated facilities.

Both transactions are brokered by real estate services company iO Partners.

Source: Profit.ro

Topanel increases its production capacity by 85% with a second production line

Topanel Production Panels, one of the leading manufacturers of thermal insulation panels in Romania, has invested in a second thermal insulation panel production line. With an annual production capacity of 2.5 million square meters, this allows the company to increase its total annual production from 3 million to 5.5 million square meters of panels.

“Through this expansion, we strengthen TOPANEL’s position on the thermal insulation panels market and demonstrate our commitment to our partners and customers. Our objective regarding this investment is to offer high-quality thermal insulation panels, optimized delivery times and a competitive price-quality ratio,” said Irina Tănăsescu, Commercial Strategy Director at Topanel Production Panels S.A.

Moreover, Topanel, together with its partner ICCO Grup, is preparing the inauguration of a new factory located in Ghimbav, Braşov County, dedicated exclusively to the production of Thermotop PIR thermal insulation boards. This greenfield investment, worth approximately EUR 20 million, will be the largest production unit of this type in Southeastern Europe.

Giurgiu to have first paper factory to replace plastic bags in retail

Entrepreneur Vladimir Cohn is preparing to make a massive investment of around RON 1.4 billion (around EUR 285 million) in a paper production unit in Giurgiu. This project includes a significant state aid of RON 185.4 million (around EUR 37 million), and is considered the largest project financed through state aid schemes this session. Officially, the factory will produce special paper intended to replace plastic bags in stores.

The factory will start production on November 30, 2025 and will create 100 jobs in the first six months, with the number expected to reach 200 at full capacity, starting in January 2025.

Production estimates are around 120,000 tons annually, most of which will be for export, and the Giurgiu location was chosen due to its transport infrastructure and proximity to Bucharest.

Real estate developer NUSCO will issue bonds at Bucharest Stock Exchange

NUSCO, one of the most important and active players in the local real estate market, will list bonds on the Bucharest Stock Exchange.

NUSCO’s shareholders approved earlier this month the realization of the first project on the Romanian capital market and the start of the relationship with the local investment public, and the authorized advisor, BRK Financial Group, is in charge of the intermediary of the offering. “After 27 years of presence on the Romanian market and after many successful flagship projects, we have decided to move to a new stage from an investment point of view. Given that our products have been and are very secure, we consider it appropriate in our solid evolution to list our first bond issue on the Bucharest Stock Exchange”, states Michele Nusco – CEO – NUSCO.

This decision marks the company’s debut in investor relations and thus encourages both commercial and institutional investors to make an investment in a financial product backed by real estate assets and with a pre-determined yield and maturity. “In this way, an investor can invest in an affordable financial product in terms of value, with real estate exposure and a yield for the national currency that is significantly higher than the inflation rate,” according to Laurențiu Irimia – Corporate Manager – BRK Financial Group.

The project envisages the realization of financing through the issuance of guaranteed bonds, which will be subject to admission to trading on the Bucharest Stock Exchange. “We are glad that the developer NUSCO will also be present on the capital market, especially due to the fact that it is a relevant representative of the real estate industry in Romania and enjoys recognition for the quality of the projects it has realized,” adds Irimia.

This transaction represents NUSCO’s first step in the Romanian capital market as part of the company’s strategy to develop and diversify its sources of financing and strengthen its relationship with local investors. “We also believe that the real estate sector in Romania should be better represented in the Romanian capital market through the presence of a larger number of companies on the Bucharest Stock Exchange,” explains the representative of BRK Financial Group. According to him, local investors can thus diversify their investments, complementing their real estate investments with those on the capital market and having the option to invest in several companies.

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