Radu Piţurlea is the new Chairman & CEO of Concelex

Local construction company Concelex has completed the succession process through which Radu Piţurlea becomes Chairman & CEO, taking over from founder Daniel Piţurlea.

“This transition marks a natural change of role. I will remain with the team in an advisory and mentoring position, ready to support management and contribute to maintaining the coherence and spirit that have defined our success so far. I am confident that, under Radu’s leadership, the company will continue to deliver essential projects for people and communities, building necessary and truly useful objectives in everyday life,” said Daniel Piţurlea, Founding Chairman of Concelex.

Radu Piţurlea aims to accelerate the development of Concelex, with a focus on innovation and projects that support the changes brought by emerging technologies.

JTI to sell Pipera factory site following relocation to new facility

Japan Tobacco International (JTI) is to sell the land of the factory in Pipera, along with the move of the production lines to the new factory it is building in Ștefăneștii de Jos.

“The construction will be ready next year, but it will take us about two years in total to move production to the new location. So, in 2027 and 2028, production will move gradually and we will work with both factories for a few years. We will move the production lines gradually, because it is not possible all at once. We expect that by 2029, everything will be moved from here, after which we will leave this location and sell the land,” said Antonio Vencesla, Director of Corporate Affairs & Communications JTI Romania, Moldova and Bulgaria.

The JTI factory in Bucharest operates on a land of about 23,000 square meters.

JTI announced an investment of approximately EUR 300 million for the construction of the new ultra-modern factory in Ștefăneștii de Jos (Ilfov County).

Source: Profit.ro

Tisa Group invests €6 million in four-star hotel project

Tisa Group, a tourism operator controlled by the Rebenciuc family, is finalizing an investment of approximately EUR 6 million this year in Grand Hotel Tisa, a four-star unit located in the Băile Olănești resort.

The company aims to develop a national spa hotel chain, with construction of a new hotel already planned to start in 2027 in another resort in the country.

The new Grand Hotel Tisa will feature 71 rooms and will introduce the “spa vacation” concept, which integrates spa treatment into the holiday experience. According to Ioana Gogu, General Manager of Tisa Hotels and Vice President of the Organization of Spa Tourism Employers in Romania (OPTBR), the customer profile has diversified significantly: the average age has dropped to approximately 45 years, amid interest in prevention, and the resort has evolved from a strictly medical destination into a complete tourism ecosystem.

RRG Real Estate Group secures EUR 7.8 million financing from TBI Bank for Lakeside11

Real estate developer RRG Real Estate Group (RRG) has signed a financing agreement with TBI Bank worth EUR 7.8 million for the finalization of the first phase of the Lakeside11 residential project, located on the shores of Lake Străulești in the capital.

The first phase of Lakeside11, involving a EUR 20 million investment, comprises three buildings with a total of 105 apartments and is currently under construction, with completion scheduled for the first quarter of 2027. Window installation and roofing works have already been completed, while both internal and external finishing works are currently in progress. The construction works are being carried out by Consstar Construct SRL.

“The project’s original business model, developed under the #InvestWithRRG financial solution and structured around staged construction financing aligned with client payment schedules, has consistently demonstrated its effectiveness. We extend our sincere appreciation to our clients for their trust and continued commitment.

Following recent legislative changes, we have promptly adapted by introducing bank financing to ensure the project’s successful completion and delivery as planned. At the same time, we have revised the payment conditions, establishing a minimum advance of 10%, ” stated Pavel Kodzik, President RRG Real Estate Group.

“We are pleased to support the development of the Lakeside11 project and to partner with RRG Real Estate Group on this residential investment in Bucharest. At tbi bank, we continue to support projects that contribute to the development of modern urban communities and respond to the growing demand for quality housing in the capital”, said Alexandru Cosma, VP Banking for Partners.

RRG Real Estate Group announces strong sales performance within the Lakeside11 project. In Blocks B2 and B3, launched at the very beginning of the development, sales have already reached 83% and 57% respectively. The total investment in the Lakeside11 project amounts to EUR 60 million.

We Rent Group Secures €13.5 Million Financing from Vista Bank to Expand Rental Portfolio

We Rent Group, active in the professional housing rental market, attracted EUR 13.5 million financing from Vista Bank to accelerate the development of its residential portfolio. We Rent operates in the professional residential rental segment, with approximately 500 units in its portfolio and with the objective of doubling them by 2030.

“We Rent operates in a unique segment in the real estate industry – professional residential rental (Residential Renting), which will benefit from sustained expansion in the coming period, including by expanding outside Bucharest. We are pleased that, on our tenth anniversary, we have attracted a partner who understood the potential of our business model and who wants a long-term collaboration”, said Alexandru Craiu, Group Credit Manager of the We Rent group.

The group, with American shareholders, operates in the central-southern area of Bucharest, where it owns four residential buildings with approximately 500 units.

INTERSPORT to Open New Store in Romania

INTERSPORT will expand its presence in Romania by opening the brand’s largest store in the IULIUS network, in Cluj-Napoca, within the RIVUS mixed-use urban regeneration project.

“RIVUS is designed as an urban space that brings together functions, communities and experiences relevant to everyday life. It is a project built based on the needs of the community, and the feedback obtained from surveys conducted by the IULIUS company, doubled by national and international trend studies conducted by specialized agencies, shows us a major potential for capitalizing on all resources that are addressed to sports and wellness lovers,” says Oana Diaconescu, Head of Leasing IULIUS.

The new store will have an area of over 1,000 sqm, the new space will function as a landmark store, which best reflects the brand’s identity, emphasizing experience, variety and interaction.

One United Properties names two new members on the Board of Directors

One United Properties announces that it proposes the appointment of two new members to the company’s Board of Directors, who would be voted on at the General Meeting of Shareholders. The two new members are: Prof. Dr. Dr. h.c. Uwe Krueger and Mr. Costel (Doru) Lionăchescu.

Krueger currently holds the position of Vice President for European Partnerships at Temasek International, and Costel (Doru) Lionăchescu holds the position of Chairman of the Board of Directors of BT Capital Partners and a member of the Board of Directors of Salt Bank.

The composition of the Board of Directors of One United Properties will be: Claudio Cisullo, Victor Capitanu, Andrei-Liviu Diaconescu, Costel Lionăchescu, Marius-Mihail Diaconu, Augusta Valeria Dragic and Uwe Krueger.

Auchan Opens new Supermarket in Dedeman Ploiești shopping center

Auchan Romania has opened its tenth large-scale supermarket in Dedeman Ploiești shopping center. The new store has a sales area of approximately 1,700 sqm and a team of over 40 employees.

“We continue to develop the proximity segment, bringing modern stores closer to customers, with a varied offer of products and services that simplify the shopping experience. The opening of the Auchan Blejoi supermarket marks the expansion in Prahova County, where we are already present through an ATAC hyper discount store, MyAuchan units in Petrom stations and Simply franchise stores,” says Ioana Toșa, Sales Director, Auchan Retail Romania.

Auchan Romania has a portfolio of over 500 stores, including 26 classic hypermarkets, 9 ATAC Hiper Discount hypermarkets & one ATAC Super Discount, 10 classic supermarkets, the smart Auchan Go store, almost 400 MyAuchan ultra-proximity stores and over 70 Simply by Auchan franchise stores.

IULIUS and Atterbury Europe have started construction on RIVUS Cluj-Napoca

RIVUS Cluj-Napoca, the project developed by IULIUS and Atterbury Europe, is entering the implementation phase. With an investment estimated upwards of half-billion Euro, this is the most extensive real-estate development underway in Romania. RIVUS Cluj-Napoca entails the reconversion of an underutilized former industrial platform into an integrated mixed-use complex, open to the community and focusing on cultural, green, office, retail and entertainment uses.

Last year, this project was the beneficiary of the largest financing contract granted to a real-estate development in Romania, in the amount of EUR 400 million. Structured as a syndicated green loan between Erste Bank (Lead Arranger), BCR, EBRD and BRD, the financing is conditional upon the achievement and maintenance of the highest international sustainability standards (LEED Platinum and EDGE Advanced) and covers the entire investment cycle, from development and operation to refinancing. The concept for this project was developed in collaboration with the international architecture firm UNStudio.

“RIVUS was designed as a mixed-use project, navigating around three essential directions: nature, culture, and family-oriented entertainment solutions. The project will give back to the city what has been previously a publicly inaccessible area, integrating it naturally in the urban structure and routes of Cluj City. The concept being tailored to the residents’ expectations and to the needs and development goals of the city, as well as the expertise and partnerships consolidated by IULIUS during its 25 years of business operation in the market, are the main aspects that gained the trust of our lenders and partners in this project. We are building a landmark project for the Romanian real-estate market, that draws significant interest from retailers, as evidenced by our lease occupancy ratio that is already upwards of 70%, which to us is a clear indicator of market confidence in the concept and its long-term potential. We are confident that RIVUS Cluj-Napoca will be a landmark for urban regeneration nationwide and beyond, a complex with an identity of its own, built together with and for the community, designed to be an active part of the city, and steadfastly focused on the future,” said Sorin Guttman, RIVUS project Manager.

Romanian Hotel Market to have 39 New Hotels by 2029

The Romanian hotel market is undergoing a period of sustained expansion, with 39 new projects announced for the 2026-2029 interval, totaling over 5,300 accommodation units.

Bucharest remains the main attraction pole with 15 projects, followed by Brașov (8), Timișoara (4), and Craiova (2). Among the new brands that will enter the market are The Hoxton, Hyatt, Mondrian, Kempinski, and The Julius. In the Capital, developer Nusco will invest over EUR 42 million in Nusco City to bring the Hyatt Place (170 rooms) and Hyatt House (100 rooms) brands. Also in Bucharest, One United Properties will open the country’s first Mondrian hotel (103 rooms) in 2026 and, in 2028, The Hoxton – One Downtown unit on Academiei Street. In the luxury segment, the Ambasador Hotel building will be transformed by Julius Meinl Living into The Julius Bucharest, with 158 rooms, by 2027.

Other major investments include the first Radisson RED on Vasile Lascăr Street, a project of over EUR 13 million developed by Hagag, and a Wyndham Garden hotel near Otopeni Airport, with an investment of EUR 45 million for 270 rooms.

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