Hercesa Romania continues the development of Stellaris Residencias

Hercesa Romania announces the launch of the third building in Stellaris Residencias near the Steaua stadium in western Bucharest, part of the project’s first phase. In recent months, the company has completed and delivered the first building, which is already inhabited by new residents, and continued construction on the second building, which is in an advanced stage of development.

“We are confident that the Romanian residential market, the second most important in our international portfolio, will overcome the current period of economic and political uncertainty. We are beginning construction on the third building while simultaneously preparing documentation for the fourth phase,” said Alejandro Solano, CEO of Hercesa Internacional. “The Stellaris community is starting to take shape, with residents already living in the first building, and it will expand with the completion of the second building, scheduled for the end of this year,” added Alejandro Solano.

The third building comprises 112 apartments with one, two, and three bedrooms, with prices starting from EUR 112,100 + VAT and approximate usable areas ranging between 56 and 107 square meters.This new phase brings several innovations to Hercesa’s portfolio, including energy-efficient technologies: combinations of heat pumps, hybrid heating systems, and air conditioning units, smart-home systems and heat recovery equipment. Additionally, space will be allocated for an educational facility dedicated to children in the community. This facility will become operational upon completion of the fourth building.

Stellaris Residencias is located in an area with easy access to public transportation (tram line 41, Parc Drumul Taberei metro), parks, schools, and shopping centers. Each residential building will feature 3,000 square meters of green space, basketball courts, relaxation areas and playgrounds exclusively for residents.

Additionally, the project includes the development of its own educational and road infrastructure, including 2.7 kilometers of roads, a kindergarten, and a school for grades 1–8.

Lio-Metal opens new metallurgy factory in Galați

Lio-Metal, a Romanian company in the metallurgy industry, is officially opening a new production factory in Galați, built to replace its old facility. With an investment of approximately EUR 5 million, financed with the support of ING Bank, the new unit represents a strategic step in the company’s development and a significant move towards modernizing industrial processes, increasing production capacity, and strengthening its position in the national market.

“After 16 years of activity, relocating to a modern factory is a natural step that allows us to operate at higher technological standards, ensuring an optimized, energy-efficient production flow that is much better adapted to current market demands. We are proud to have built this greenfield facility, tailored to our current needs. It represents the expansion of our capacity and reinforces our quality and operational efficiency standards. We have invested significantly in technology and people, and today we are better equipped than ever to deliver reliable and competitive solutions. We continue to build responsibly, following a clear vision of sustainable and long-term development,” stated Ion Luca, Founder and CEO of Lio-Metal.

Covering over 7,000 square meters and equipped with modern machinery, the new Lio-Metal factory will have an annual production capacity of around 25,000 tons. Over the next two years, it will enable an increase of estimated 50% in the total production volume.

STC Partners secures EUR 20 mln financing from Banca Transilvania for Quartier Ferdinand

Real estate developer STC Partners has obtained financing of EUR 20 million from Banca Transilvania for the development of the Quartier Ferdinand residential complex, located in the center of Bucharest.

Quartier Ferdinand, developed on a 4,400 sqm plot, is the first residential project in Bucharest to be pre-certified as a ZEB (Zero Emissions Building). The complex offers 170 apartments, street-level retail spaces, exclusively underground parking, a unique rooftop recreation area, and a children’s playground.

“The partnership signed with Banca Transilvania reconfirms the quality of the Quartier Ferdinand residential complex and represents an excellent opportunity for the sustainable development of central Bucharest. Trust in STC Partners’ projects guarantees a sustainable vision successfully implemented by a results-driven team that delivers homes on time,” stated Adi Steiner, Managing Partner at STC Partners.

Launched in the fall of last year, Quartier Ferdinand has already sold over 50% of the entire project. Quartier Ferdinand, which will require a total investment of over EUR 35 million, is currently under development and is expected to be completed in the last quarter of next year.

Marriott expands in Romania and brings new brands

The Marriott International hotel chain plans to expand its portfolio in Romania, with the expected addition of five properties and over 550 rooms by the end of 2028. The company’s growth plans are also anticipated to introduce the Residence Inn by Marriott and Four Points by Sheraton brands to the country, while expanding its presence in five destinations across the country.

Among the important aspects of the company’s growth in Romania until the end of 2028 are:
• The planned opening of the Residence Inn by Marriott hotel in the Cosmopolis area of Bucharest, marking the introduction of the extended stay brand in the country.
• Early entry of the Four Points by Sheraton hotel with an opening in Cluj-Napoca, a city famous for its historical and archaeological heritage.
• The planned continued expansion of the Courtyard by Marriott hotel in the country, with scheduled openings in Timisoara, Sibiu and Calimanesti-Căciulata.

Marriott’s operations in Romania currently include six properties and more than 1,380 rooms in Bucharest and Cluj-Napoca. Brands currently present in the country include JW Marriott, Sheraton, Autograph Collection, Moxy Hotels and Courtyard by Marriott. Romania is also home to five brands in the Marriott Bonvoy portfolio.

Modern retail stock in Romania reaches 4.7 million sqm

The modern retail stock in Romania has reached around 4.7 million sqm, which corresponds to a density of 250 sq m/1,000 inhabitants, still one of the lowest in both Europe and the CEE region.

On the other hand, developers have announced major investment plans for the coming years, so the gap between Romania and other countries in the region will continue to narrow, with more than 600,000 sqm of retail space currently due to be delivered by the end of the decade, according to data from real estate consultancy Cushman & Wakefield Echinox.

“In the medium and long term, the Romanian retail market has the potential for sustained growth, both in the main cities and in secondary and tertiary cities, the density of modern spaces being in many cases below the European average,” says Dana Radoveneanu, Head of Retail Agency Cushman & Wakefield Echinox.

The Dutch from Raben Logistics lease 3,500 sqm in ELI Park Bacău

ELI Parks announces the lease of 3,500 square meters within the ELI Park Bacău project to Raben Logistics Romania, part of the Raben Group from the Netherlands.
“The partnership with Raben reflects our commitment to developing class A industrial and logistics parks, adapted to the needs of companies in various industries,” said ELI Parks representatives.

The leased space will be used by Raben Logistics to improve the company’s distribution network, reducing delivery times and increasing logistics efficiency.
“The expansion of our network in Bacău represents an important strategic step in consolidating our national logistics coverage and streamlining our operations in the Moldova region,” says Codrin Ciobanu, Regional Manager, Raben Logistics Romania.

Selgros resumes expansion and opens new store in Sibiu

Selgros Cash & Carry Romania, one of the most important players in Romanian commerce, opens the 24th store in its network in Romania, in Sibiu, and marks 24 years of activity on the local market. The last Selgros store locally was opened in 2019.

The new unit creates approximately 200 jobs. The construction of the store began in June 2023 and it has an area of over 6,000 square meters.
The company has 4,700 employees nationwide, being among the most important employers in the field. Selgros Cash & Carry is a company that is part of the Transgourmet group, wholly controlled by Coop Switzerland, which currently owns 80 stores.

Source: Profit.ro

CEDER 2025 in review: Bucharest Office Market Conditions and Overlook

The Bucharest office market is currently grappling with a combination of factors creating a challenging environment, yet the guests invited to take part in the “Office Market Challenges and Opportunities” panel held at CEDER 2025 maintained a sense of cautious optimism grounded in the market’s resilience.

As Andreea Cotiga, Head of Leasing Office at CPI Property Group Romania, put it, the present situation is characterised by a “limited supply, limited demand, [and] certain pressure on the vacancy rates”. This limited supply is partly a consequence of a “de facto construction ban, or […] very restrictive framework” (Florian Nițu, Managing Partner of Popovici, Nițu, Stoica & Asociații) stemming from regulatory challenges.

Valentin Neagu, Managing Director of Crosspoint Real Estate, pointed out the fact that “the demand is not up to a level where landlords and investors are struggling to invest and […] propose new buildings on the market. So, fortunately, I think they can still keep up with the existing stock.”

The outlook for the office market is complicated by the “political and macroeconomic context” (Andreea Cotiga), which panellists described as “very complicated times, in terms of politics” (Maria Jianu, Leasing Director at Speedwell), with everyone being “impacted by the uncertainty” (Adinel Tudor, CEO of EVO Properties).

Adinel Tudor stated his serious concerns regarding the future of development: “The amount of investment […] has dramatically decreased over the past three years”. A particularly stark prediction of his was that “2025 is going to be the first year in I don’t know how many with absolute 0 deliveries of new office space”. He also warned that “without a very clear plan for development of the city and with too much regulation, Bucharest is going to suffocate”, risking that it “will lose investment, talent, businesses and opportunities to develop”.

Antoniu Panait, Managing Director of Vastint Romania, highlighted that being “blocked from [a] development perspective […] [it] becomes non-competitive”.

Addressing these challenges, Andreea Cotiga strongly emphasised the “need [for] a little bit more stability coming from the political sector” to allow the business environment to thrive. Antoniu Panait clarified that the real estate sector isn’t seeking financial aid, but simply “the support to invest and to bring money in Romania”.

Despite the hurdles, some panellists remained cautiously optimistic, like Ioana Roman, Partner & Head of Real Estate at Filip & Company, who stated: “We are a market that has always presented both potentials and opportunities, and challenges, various challenges over the years. And we also prove that we are a resilient market, and we always adapt, and we tackle challenges head on, and we find solutions.” This sentiment was echoed by Antoniu Panait: “We are still here. We are pushing forward. We are one of the best. […] And we win awards, worldwide awards, we win recognition in Europe for what we do. And we should continue, because us, all of us, we push the quality standards and the developments. Sooner or later [the] authorities [will also follow].”

Vastint Romania officially launches the second phase of Timpuri Noi Square

Vastint Romania announces the official launching of the second phase of its flagship real estate office complex, Timpuri Noi Square, a significant urban regeneration project for the Timpuri Noi area in Bucharest.

The additional area of the Timpuri Noi Square 2 will total an estimated GLA of more than 60,000 sqm and will include two new office buildings, resulting in a doubling of the available office and commercial spaces within the Timpuri Noi Square complex, up to 112,000 sqm of GLA. The 3 buildings in the first phase of Timpuri Noi Square, with a total rentable area of 52,100 sqm, are now 100% leased, among the tenants being Playtika, Ayvens, Radio AG (Kiss FM, Magic FM and Rock FM), Fratelli, Zitec, Bolt, Go Pro, Vola.

The construction works for the second phase have begun last year and they are progressing according to the schedule, so that the planned time frame of delivery, Q4 2026, will be respected. Phase two of the project is composed by two A class buildings, with 8 and 15 floors, which benefit from additional 690 underground parking spaces and a wide range of retail spaces. Also, phase two will host the largest food hall in an office building in Romania, with an area of nearly 6,000 sqm.

“After the success of the first phase, we are excited to announce today the official launching of the second phase of Timpuri Noi Square, an urban regeneration project of significant importance, for which we aim to achieve the highest level of green certification, more than 100 points LEED Platinum, continuing Vastint Romania’s tradition of promoting sustainability across our portfolio. Despite multiple challenges, we managed to maintain a fast rythm of the construction works, with over 1,000 persons engaged in the project until the delivery, which reflects Vastint Romania’s commitment to generating substantial employment opportunities. Romania is a very important market for Vastint and we are proud of the steady track record and performances we achieved here, which make us very confident in the success of our future investments. We already have discussions with tenants interested in having an office in the new buildings”, stated Antoniu Panait, Managing Director of Vastint Romania.

The second phase of the Timpuri Noi Square project is designed and set to be executed according to the latest nZEB and LEED standards. Renewable sources will be used for heating the buildings, such as 1,700 square meters of photovoltaic panels and 2 heat pump systems, some of which are air-to-water systems to be installed on terraces, and others are ground-source systems that will utilize 200 geothermal wells. Therefore, the utilization of gases was entirely removed.

The phase two of Timpuri Noi Square brings New Tales, a contemporary food hall concept and a first for the local market. Spanning nearly 6,000 sqm across two levels, the space will feature a generous common area alongside a curated mix of commercial units.

By the end of this year, phase one will expand with the launch of a fully equipped, conference center with a surface of 400 sqm inside and an exclusive terrace of 300 sqm, adding even more versatility to the range of services available on site.

NN relocates its offices to One Cotroceni Park

One United Properties announces the signing of a lease agreement for NN’s new headquarters within the One Cotroceni Park development. NN is part of NN Group, an international financial services company offering pensions, insurance, banking, and investment services, active in 10 countries with a strong presence in Europe and Japan. More than 500 employees will occupy a dedicated floor of 2,300. The lease agreement spans 10 years and was brokered by Knight Frank Romania.

“We are pleased to welcome NN to the One Cotroceni Park community, our flagship development that integrates sustainability, innovation, and care for people. This relocation reflects a shared vision to create workspaces that not only support performance but also prioritize employee well-being. At One United Properties, we aim to build not just buildings, but true business communities where companies can thrive in a connected, friendly, and future-ready environment. We’re proud that One Cotroceni Park is the place where such a strong, people-focused organization continues its journey”, said Mihai Păduroiu, CEO Office Division One United Properties.

NN representatives emphasized the importance of relocating to a space that reflects the company’s values and fosters a healthy working environment that encourages performance and creativity: “We were looking for a space that mirrors our culture centred around people, balance, and flexibility. One Cotroceni Park meets the needs of our diverse and dynamic team, offering us an environment where we can work better together, whether in the office or in a hybrid setup. It’s a place that highlights what matters most to us: people’s well-being, human connection, and an inspiring environment that supports innovation”, said Eszter Martin, Chief People Officer, NN Life Insurance.

Horațiu Florescu, Chairman & CEO, Knight Frank CSEE, added: “We are pleased to have collaborated on this project. Even though renegotiations continue to be a trend in the office market in 2025, it is a highly positive sign to also witness relocations. We are confident that NN has found a community and a space where it can continue its upward trajectory, and we wish them a fruitful collaboration with One United Properties.”

« Previous 1 … 35 36 37 38 39 … 97 Next »

Latest news

All posts by tudor@cijeurope.com.