The Spanish group Hercesa wants to expand its real estate portfolio in the industrial and residential sectors in localities around Bucharest, after 20 years of focusing only on the development of apartments in the Capital.

“We are actively looking to expand the portfolio, both in the collective housing sector and in the individual housing sector, in the area surrounding Bucharest, which represented a refuge for clients, during the pandemic, and for developers, during the slightly more problematic authorization periods, and where there is still a lot of potential and even in the industrial sector. We want to replicate in Romania all the attributes of our business in Spain. For the immediate future, we will limit ourselves to Bucharest and its surroundings, but we do not exclude, as a medium or long-term planning, to go out to other cities. There are many cities with potential, such as Iași, Brașov, Timișoara and Cluj,” said Romeo Ghica, Hercesa Romania Operations Manager.

The Spaniards from Hercesa entered Romania in 2004 by acquiring the current Cișmigiu hotel building in the center of Bucharest and continued with the development of the Vivenda Residencias complex, which has reached 1,000 apartments delivered. The investor has also started the last phase of development of Vivenda, which will include a first block with 400 apartments. In parallel with this project, Hercesa is developing the first three buildings of the Stellaris Residencias complex, in partnership with Bluehouse, near the Steaua stadium.

Source: Profit.ro

Football player Florin Tanase, currently playing for FCSB, and FIFA agent Florin Vulturar, completed the structure of the first building from Noura Residence, located in the northern part of Bucharest.

Noura Residence will comprise 128 apartments in four buildings with six floors each. 40 apartments were already contracted so far, representing 31% of the total units included in the project, in less than six months from the sales start.

”We received a very good response from the market, which proves us that we have found an attractive recipe for those looking for a premium home, located in the northern areas of Bucharest, with very good access to the most important points of interest in the city. We are rapidly advancing with the construction of Noura Residence, we have already implemented several top technologies, we are working on the second building in the project and we’re preparing for premium finishing stage in the first building. The development of Noura brings me multiple satisfactions, I am actively involved in all stages, and I will certainly continue to be an active investor in the Romanian residential market” stated Florin Tanase, the developer of Noura Residence.

”Pipera-south area, where the project is being developed, is one of the most effervescent on the residential market in Bucharest. Over 50% of the new homes due to be completed this year in the city and its surrounding areas are located in the northern parts of Bucharest, according to SVN Romania’s data. The easy access to the main business centres from Aviatiei area, to the most important commercial areas from northern city, to some of the best private educational institutions but also to Henri Coanda Airport and A3 Highway are the main advantages of the area”, said Victor Vremera, COO and managing partner SVN Romania, agent of the project.

During the “Sector-Specific Trends part 2” panel discussion held at CEDER 2025, the panellists discussed the resilience of the Romanian residential real estate sector amidst the current market uncertainties. Moderator Daniel Tudor, Founder & CEO of The Concept Group, set the stage by noting Romania is at a critical point where “residential demand is strong, […] investors are active, but the real challenge is no longer just about building more, […] it’s about building better.”

Adrian Stoichina, Co-CEO & Partner at Prima Development Group, affirmed the sector’s resilience, stating, “the Romanian residential market is truly resilient in this period […] due to the fact that it has grown organically over the past years’’. He added that considering the medium-term view of two to three years, “I don’t think we[‘ll] see any volatility”, although short-term fluctuations may occur.

Several factors underpin this resilience. Yannick Van de Parre, Country Manager at Speedwell, highlighted Romania’s “strong selling points”, including its affordability compared to other European markets, like Poland, and the prevalence of cash buyers, which provides stability and reduces the risk of panic selling seen in over-leveraged markets.

Leonidas Anastasopoulos, Co-Founder & Managing Partner at Alesonor, agreed, stating Romania is “a very affordable market for acquisition of residential still, and it has become more affordable” as disposable income has grown faster than prices, contributing to stability.

Buyer behaviour also reflects this stability. Simona Guțiu, Founding Partner at the Notarial Office EQUITY, observed that “the regular Romanian buyer who is decided […] and entered into agreement will not step back. It’s business as usual”. While clients are somewhat more stressed by external factors, they proceed with transactions if they receive answers from professionals that give them trust and after rigorous checks of the legal documents.

Victor Terheș, Sales Director at Bellemonde, noted that, while the market is “emotionally anchored”, resilience is about “the ability to adapt to people[’s] needs”. He nuanced this opinion by adding that “the market will absorb all the current situation and people will still buy, but very important[ly], they will selectively buy from the ones that usually deliver”.

Andreea Dumitru, Chief Marketing Officer at Hagag Development Europe, emphasised the fundamental demand present on the market, stating that “everybody has and will continue to have the need to live somewhere […], so residential is resilient, is here to stay and it’s going to stay here for generations”. This consistent demand, coupled with a shortage of quality housing stock, supports the market.

Luciana Giurea, Head of Residential at AFI Europe Romania, pointed to the resilience of the built-to-rent sector: “our first built-to-rent project in Romania is going to have new clients almost every year for many years to come.” She noted that the way to ensure this is by paying attention to “what was missing for the people that were renting” and fulfilling those needs, particularly long-term commitment, security through registered contracts, and stability via inflation-adjusted rents.