Prime Kapital to build 600 new homes in the Silk District and Avalon projects

The residential division of Prime Kapital, a company founded by Martin Slabbert and Victor Semionov, wants to start the construction of 600 new homes in its two big projects Avalon Estate in Bucharest and Silk District in Iasi.

This step follows the delivery of approximately 700 apartments in Silk District and 352 apartments and villas in Avalon Estate, bringing the total number of apartments and complementary spaces developed by Prime Kapital in Romania to 2,500 in 2024.

Over the past year, Prime Kapital has delivered nearly 1,000 apartments, alongside innovative integrated parking structures, totaling 200,000 sqm of total built-up area, as well as 30,000 sqm of total leasable office and boutique commercial space. In addition, the developer opened Argeş Mall in Pitesti (April 2024), while Mall Moldova, the second regional super mall in Romania, is currently in an advanced stage of construction in Iasi.

Alfa Group invests EUR 90 million in the second phase of the Cloud9 residential project

Alfa Group, controlled by the entrepreneur Alin Niculae, launches phase 2 of the residential project Cloud9 Residence, in the Pipera area, for which the investment is estimated at EUR 90 million euros.

Developed on an area of 3.2 hectares, Cloud9 Evolution is expected to be completed in the fourth quarter of 2026. At the end of the project, the project will have a total number of 612 apartments, over 700 parking spaces, pedestrian walkways, green areas, playground, common spaces and infrastructure, along with a kindergarten and a school, as well as a shopping center.

“After the success of the first Cloud9 project completed in 2020, with a community of 800 satisfied families, we thought of Cloud9 Evolution as an innovative project that took into account current requirements and trends. The residential market has started to mature in recent years, and the people of Bucharest are educated, informed consumers and know what they want from a home,” said Răzvan Brasla, CEO of Cloud9 Residence.

Bluehouse Capital sold Eva retail property in a transaction valued at EUR 8 million

Bluehouse Capital sold to a private Romanian investor the former Eva retail property in downtown Bucharest in a transaction valued at approximately EUR 8 million, brokered by real estate consultant SVN Romania.

The commercial property has a leasable surface of approximately 1,700 square meters; Mega Image retail chain has been operating a unit in the space since the end of 2014.

”We are seeing an increased appetite from medium and large investors for long-term leased properties by established retail operators and we are currently looking at other opportunities for our portfolio of investors. Large international retailers but also domestic players will continue to expand in the coming years with a large number of new stores and the high street retail segment but also retail parks will offer high returns to investors and owners,” stated Eduard Beuran, SVN Romania.

Nestor Nestor Diculescu Kingston Petersen law firm advised Bluehouse Capital, while ONV LAW assisted the buyer.

The first BOSS store in Timișoara has opened in Iulius Town

HUGO BOSS, one of the luxury fashion world leaders, has opened in Timişoara’s Iulius Town mixed-use project its first store set in the western part of the country, respectively its fifth store in Romania.
The German fashion group is present in Iulius Town with its BOSS brand, one of its two exclusive brands.

“We are happy that, after the success of the BOSS store grand opening in Palas Iaşi, we managed to expand this partnership to Timişoara. In the Western part of the country, we have a sophisticated clientele that values refinement, quality, and authenticity. Today’s launch reconfirms the public’s heightened interest in premium shopping experiences, but especially the desire of high-end brands to expand their presence in Romania and access new markets. This is the latest of the novelties we brought to Iulius Town this year. Further on, we continue to focus our interest on integrating top brands in this project, both from the mass-market and from the luxury category, thus enabling Iulius Town to maintain its status as regional leader in terms of shopping and leisure,” stated Oana Diaconescu, Head of Leasing Retail IULIUS.

Inaugurated in 2019 pursuant to an EUR 442 million investment made by the IULIUS and Atterbury Europe companies, Iulius Town includes: the largest shopping area outside Bucharest, 450 shops, cafés, and themed restaurants, 12 cinema auditoriums, fitness center, park, 80,000 square meters of office premises and three event halls.

CTP expands partnership with FAN Courier by leasing 4,500 sqm in CTPark Deva

CTP strengthens its strategic partnership with FAN Courier by leasing an additional 4,500 sqm in CTPark Deva. This new expansion brings the total space occupied by FAN Courier in CTP’s portfolio to over 10,000 sqm, with the company already established in CTPark Sibiu East and CTPark Craiova East.

CTPark Deva enjoys an ideal geographical location in Transylvania, in the heart of Romania, making it perfect for central distribution centers and manufacturing activities. The logistics park benefits from easy access to the A1 Motorway, which quickly connects Deva to the country’s major logistics hubs, and offers access to public transportation, making it an excellent choice for both logistics’ operations and the local workforce.

“Expanding our long-standing partnership with Fan Courier is a moment of pride for us. Having supported their impressive growth over the years, we’re thrilled to take this next step together by adding a new location to our collaboration. This milestone reflects our unwavering dedication to helping our clients scale by offering flexible, strategically placed spaces tailored to their evolving needs. With CTPark Deva as a logistics hub for Transylvania, we are confident that Fan Courier will continue to thrive, leveraging the park’s modern infrastructure and connectivity to support their ongoing expansion,” said Jovan Radosavljevic, Managing Director CTP Romania.

Andreea Comșa joins SPEEDWELL as Commercial Director

SPEEDWELL Development announces the consolidation of its management team by appointing Andreea Comșa as commercial director. In her current role, Andreea leads and coordinates the operations of the commercial department with responsibility for the sales and leasing teams. She will also oversee the implementation of sales and development strategies, being fully involved in marketing initiatives and expanding existing business segments.

“At SPEEDWELL Development, we’ve built our success over the past decade by assembling a team of highly skilled professionals who bring expertise and embody our commitment to excellence. We’re continuing this approach by welcoming Andreea Comșa as our new Commercial Director, overseeing both residential sales and commercial leasing. Her deep understanding of the local market and leadership in people management will be invaluable as we drive SPEEDWELL’s long-term growth. We’re excited that our achievements and future vision have made joining our team a natural fit for her,” stated Didier Balcaen, CEO and Co-founder of SPEEDWELL Development.

Andreea Comșa brings over 16 years of leadership experience in the real estate industry, where she has established a solid reputation thanks to proven skills in navigating through challenging market conditions.

“I am deeply honored to join a company renowned for its exceptional achievements and strong market presence. This role represents an incredible opportunity for me to make a meaningful contribution to an organization whose core values—rooted in integrity, innovation, and excellence—closely reflect my personal and professional ethos. By leveraging my extensive knowledge of the local market and my leadership experience in people management, I aim to create an environment where creativity and teamwork thrive. My goal is not only to drive performance but also to elevate the client experience, ensuring that each individual we serve enjoys a seamless, personalized journey in finding their ideal home, while feeling supported and understood every step of the way,” said Andreea Comșa, Commercial Director at SPEEDWELL Development.

Her co-optation as commercial director of SPEEDWELL Development comes in the context of expanding the project portfolio both in Bucharest and other regional cities in the country, and also in Poland.

Bog’Art is publishing its first Sustainability Report

Bog’Art, one of Romania’s most important and recognized construction companies, is reinforcing its commitment to a sustainable future by publishing its first Sustainability Report. This milestone for a privately held local company marks an innovative initiative that aligns Bog’Art with international sustainability and social responsibility standards, which will become mandatory reporting requirements starting in 2024, in line with European Union legislation.

Bog’Art boasts a portfolio of over 650 completed projects, totaling more than 3 million square meters, with a contracted value of approximately EUR 2 billion over more than 30 years of activity.

Bog’Art’s Sustainability Report addresses the ESG (Environmental, Social, Governance) pillars, offering a transparent view of the company’s achievements, challenges, and aspirations on key issues such as economic resilience, environmental protection, and social responsibility.

In collaboration with BuildGreen consultants, Bog’Art developed its own questionnaire to evaluate the level of sustainability practices implemented across its sites nationwide, using the industry’s best practices as benchmarks. Its proprietary site assessment system ensures traceability and identifies deviations from the highest international standards, adopting the Considerate Constructors Scheme model from the UK.

The methodology aligns with GRI reporting standards (https://www.globalreporting.org/standards/), while the company’s objectives follow the United Nations’ Sustainable Development Goals (https://sdgs.un.org/goals). This provides a robust and well-founded base for Bog’Art’s future sustainability efforts, supporting its ambitious goals to minimize environmental impact.

“We are aware of the responsibility we have towards the environment, the economy, and the community in which we operate as sustainable builders. Our commitment to strong corporate governance, reducing environmental impact, and respecting the people who work alongside us are essential pillars for generating positive and lasting change in the local construction industry. We are confident that our ongoing efforts to improve best practices, both on-site and in our offices, are faithfully reflected in the perspectives of Bog’Art’s first Sustainability Report,” stated Bogdan Doicescu, Group CEO of Bog’Art Holding Management.

The full report is available at https://www.bogart.ro/sustainability-csr/.

ROCA Industry fully acquires Workshop Doors

ROCA Industry, the industrial holding for construction materials majority-owned by private equity firm ROCA Investments, announces the full acquisition of Workshop Doors through the purchase of an additional 30% stake in the company’s share capital. The company entered ROCA Industry’s portfolio in February 2024 with the acquisition of the initial 70% stake.

Workshop Doors is the second largest manufacturer in the interior door market in the region, with two production facilities in Reghin and Petelea. It is ROCA Industry’s second investment in this market, the first being ECO EURO DOORS, the largest Romanian manufacturer of doors for residential construction, fully acquired by ROCA Industry in 2022.

In the coming period, ROCA Industry intends to merge the two companies and launch a single new local brand with international validity, thus creating a strong player in the Romanian interior door market, with the aim to transform it into a regional leader.

“We aim to transform successful Romanian brands into regional champions and consolidate the market, and the holding model under which we operate provides stability to our companies in the face of industry fluctuations. For this segment, we are dealing with a highly granularized market of local producers, dominated by low-quality exports. From the top two players in the Romanian residential construction doors market, ROCA Industry will create a single strong, visible company with regional potential. The full acquisition of Workshop Doors’ share capital brings us one step closer to this goal. We are already reporting very good results due to the synergies between the two companies, and we estimate that the merger will significantly accelerate the growth process,” states Ionuț Bindea, CEO of ROCA Industry.

Pavăl brothers acquire land in Giurgiu county for EUR 2.95 million

Entrepreneurs Dragoș and Adrian Pavăl, the owners of the Dedeman chain, have made a significant land acquisition in Giurgiu County. The brothers purchased a plot of land measuring approximately 59,000 square meters from former diplomat Ion Maticiuc and millionaire Pâris Mouratoglou. Located at 30 Unirii Street in Giurgiu municipality, the land was sold for EUR 2.95 million.

The seller, Metropolis & Partenaires, had been promoting a shopping center project for this plot since last year. With the Pavăl brothers now owning the land, the acquisition is seen as a potential move towards establishing Dedeman’s presence in Giurgiu County, where the retailer currently has no stores.

Dedeman, Romania’s leading DIY retailer, operates 62 stores across the country, with the exception of Teleorman and Giurgiu counties. This recent purchase could signal the company’s next expansion into the Giurgiu market.

In 2023, Dedeman inaugurated only two new stores—one in Craiova, near Promenada Mall, and another in Petroșani. The DIY chain also operates five logistics centers, its own fleet of vehicles, and employs over 13,000 people nationwide.

SPEEDWELL begins construction on third building of TRIAMA Residence project

Speedwell has started construction works for the third, and last building of the TRIAMA Residence project. The budget allocated to the development amounts to EUR 9 million.

Located close to the center of the Capital, Triama Residence offers a total of 195 apartments with generous spaces, various layouts, and premium finishes, disposed in three residential buildings with a contemporary design. Following on the success of the first two phases completed and sold during 2021-2023 period featuring a total of 134 apartments with areas ranging from 53 and 70 square meters, Triama Residence continues to refine the standard of modern living with the development of the latest building, part of Phase III of the project.

In September, SPEEDWELL broke ground on the third building in the development, which will deliver the last 61 units of the ensemble, ranging from 54 and 105 square meters, with 34 units having found their owners so far. The building will have a total built area of approximately 5.400 square meters and will feature contemporary 2, 3 and 4-bedroom apartments, tailored to the diverse needs of future owners.

“We couldn’t be more excited to see this project already taking shape with 56% of units sold, even though construction has just begun! This strong early response isn’t just a testament to market resilience, but also to the appeal of a community-focused, sustainable lifestyle. TRIAMA Residence isn’t just about building homes; it’s about creating an environment where people can thrive while making a positive impact. With the addition of solar panels and nZEB-standard energy efficiency, this next building is designed to not only lower costs but also reduce the carbon footprint. We believe in delivering more than just properties; we’re shaping communities that reflect our commitment to a greener, more connected future,” says Jan Demeyere, architect and Co-founder of Speedwell

In addition to its spacious apartments, TRIAMA Residence offers amenities such as commercial spaces on the ground floor, 193 parking spaces, a playground, and large green areas.

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