The number of construction permits issued for residential buildings in Romania rose by 2% in the first half of 2024, reaching a total of 23,772, according to data from the National Institute of Statistics (INS). This increase reflects a steady demand for housing, with several regions across the country showing positive growth in permit approvals.

Significant increases in building permits were recorded in the South-Muntenia region, which saw an additional 264 permits issued compared to the same period in 2023. Other regions with notable growth include the West (+202 permits), Bucharest-Ilfov (+137), North-East (+79), and South-West Oltenia (+64). However, some regions experienced a decline, with the Center region seeing a decrease of 243 permits, followed by the North-West (-31) and South-East (-11) regions.

For the month of August 2024 alone, a total of 3,360 permits were issued for residential buildings, representing a 3.6% drop compared to July 2024. Despite the decrease in the number of permits, the total usable area of residential buildings saw a 3.1% increase, amounting to 808,191 square meters. Notably, 70.3% of these permits were issued for properties in rural areas.

The regional breakdown for August shows mixed results. Decreases in building permits were seen in the North-West (-159 permits), West (-59), South-Muntenia (-19), Center (-18), and Bucharest-Ilfov (-16) regions. Meanwhile, increases were observed in South-West Oltenia (+51), North-East (+48), and South-East (+45).

These figures highlight the varying dynamics of Romania’s residential construction sector, with certain regions continuing to drive growth while others experience temporary slowdowns.

Perla Harghitei, a leading natural mineral water bottler in Romania, is constructing a new headquarters in Sâncraieni, Harghita County. The modern office space, spanning 1,130 sqm, will accommodate up to 100 employees and feature meeting rooms, work areas for teams, and relaxation spaces.

The project, valued at EUR 2.8 million, is part of a broader EUR 40 million multi-year investment plan by Perla Harghitei. This follows the recent completion of a EUR 5.4 million water management station, developed in partnership with BWT Germany and Inotec Romania.

Perla Harghitei reported a turnover of approximately EUR 30 million in 2023, reflecting a 20 percent increase compared to the previous year. The company expects continued growth in 2024, driven by its ongoing investments.

Source: Profit.ro

A multijurisdictional legal team from Clifford Chance Badea, led by partner Mădălina Rachieru-Postolache, advised NEPI Rockcastle on its latest green bond issuance, valued at EUR 500 million. The bond issue was oversubscribed by more than six times, signaling a strong return to the Eurobond market for NEPI Rockcastle after more than two years.

This successful transaction adds to Clifford Chance Badea’s extensive green financing portfolio. The core team, coordinated by Rachieru-Postolache, included senior associates and lawyers from the firm’s Bucharest, London, and Amsterdam offices. The Bucharest office team was represented by Gabriel Toma (Senior Associate) and Martha Busuiocescu (lawyer), while the London team featured Paul Deakins (Partner) and Ayan Koshal (Senior Associate). From Amsterdam, the legal support came from Tineke Kothe (Senior Counsel), Dewi Walian (Counsel), and Marte Schaaf (Associate).

Rachieru-Postolache highlighted the professionalism and efficiency of the team, noting the successful outcome of the transaction despite the tight timeline. “The overwhelming investor enthusiasm is a testament to their confidence in NEPI Rockcastle and the growing market interest in sustainable financing projects,” she said, expressing gratitude to the NEPI Rockcastle team and all parties involved in the project.

This bond issuance is part of a broader green financing strategy by NEPI Rockcastle, which has included the implementation of a EUR 1.5 billion Guaranteed Euro Medium Term Programme and subsequent bond issues under this framework. Clifford Chance Badea has played a key role in these initiatives, including advising on the update of NEPI Rockcastle’s multi-year bond programme, which has a total cap of EUR 4 billion.

Global Vision announces the launch of its new Technology and Innovation Division. This strategic initiative aims to implement custom AI solutions to enhance sustainability, operational efficiency, and innovation across the company’s diverse portfolio of real estate and green energy projects.

The Technology and Innovation Division will focus on deploying advanced AI-based systems for ESG management, streamlined operations, and data-driven decision-making. These solutions are designed to improve the environmental performance of real estate assets, ensure compliance with evolving regulations, and optimize resource management, supporting the creation of resilient and forward-thinking communities.

Marian Anghelache, with over 15 years of expertise in custom big data solutions and intelligent automation systems, will lead this new division to achieve its strategic goals, ensuring Global Vision remains at the forefront of innovation in the real estate and energy industries.

This initiative is closely aligned with Global Vision’s broader investment strategy, which combines real estate and renewable energy to build a diversified and sustainable portfolio. The division will play a crucial role in driving transformative growth, supporting the company’s mission to create long-term value and sustainable ecosystems across its sectors of activity.