All posts by tudor@cijeurope.com.

PORR Rehabilitates Traian Square in Timişoara for RON 109.5 million 

The Austrian construction company PORR, in association with Electroechipament Industial from Caraş-Severin, owned by several local entrepreneurs, won a contract worth RON 109.5 million (approximately EUR 21.5 million), excluding VAT, with the Timişoara city hall, which provides for the execution of works for the urban regeneration of the Traian Square area.

 

The works will be carried out within 24 months. The total value of the investment is EUR 34 million, and the Timişoara city hall has attracted non-reimbursable European financing worth over EUR 14 million.

 

“The regeneration of Traian Square is a complex project, with major underground works, on tram lines, on roads and sidewalks, on green spaces, but these will be scheduled in stages, so that the impact on residents and businesses in the neighborhood is as low as possible,” the Timisoara City Hall announced.

 

George Peltecu and Park Properties Develop a 22-Villa Project in Snagov

Entrepreneur George Peltecu is investing in a residential project for the first time. He has partnered with developer Park Properties for the construction of 22 villas in Snagov.

 

George Peltecu and Park Properties are preparing to start construction of SunLake Snagov Signature Collection, a project with 22 villas on the shores of Lake Snagov and a multifunctional building with commercial spaces on the ground floor. The villas will be built on a 15,000 sqm plot purchased in 2024 and which has easy access from DN1 and the A3 highway. The building permits were obtained in the second half of last year, and construction works will begin in the spring of this year.

 

“I joined the SunLake Snagov project because it represents an investment with real potential to set new standards in the premium residential market,” says George Peltecu, co-investor in the project.

 

Upon completion, the project will have a market value of over EUR 10 million.

 

Source: economica.net

Cordia Acquires Land in Pipera for its Biggest Romania Project

Real estate developer Cordia has signed a promise to buy a plot of land located in the American School area of ​​Pipera, on which it will build the company’s largest project in Romania to date. This acquisition will allow the development of a multi-stage project with approximately 900 residential units.

 

The sale-purchase contact has a final signing deadline of May. The property borders the New Point residential complex, developed by Shikun & Binui. Dan Șucu and Gabriel Popoviciu are also developing residential projects in the same area, and the Pavăl brothers from Dedeman have a large area of ​​land here.

 

At the moment, the Hungarian developer has 1,487 apartments in preparation and, in the process of acquiring, land for another 1,178 apartments. “We have started preparing two new projects in Bucharest, one of which is planned to be launched in the second half of the year,” announced Tibor Földi, chairman of the board of directors of Cordia.

 

Source: Profit.ro

One United Properties brings hotel brands Mondrian and The Hoxton to Bucharest

Real estate developer One United Properties expands its operations in the premium hospitality segment by bringing two international hotel brands, Mondrian and The Hoxton, to Bucharest.

 

The Mondrian project in Bucharest will focus on high-quality design, which is integrated into the local specificity and the community. His vision of contemporary luxury emphasizes the need to offer a distinct experience and emotions, not just high-priced products or services.

 

In addition to the Mondrian project, One United Properties also announced the development of a hotel under The Hoxton brand. It will be located on Academiei Street, in the vicinity of the Faculty of Architecture in Bucharest.

Ecovillas Launches new Exclusive Real Estate Project in Mogoșoaia

Real estate developer Ecovillas Company is launching a new exclusive residential project, called Nouvert, in Mogoșoaia, which is expected to be delivered by the end of 2027. Nouvert is being developed near the Motoc forest, on a 10,000 sqm plot, and is an exclusive project that will include only 16 individual villas, with prices starting at EUR 500,000 + VAT.

 

The developer is trying to attract future residents with direct views of the forest, and the project will include pedestrian alleys, relaxation areas, green spaces and water features. “We noticed a clear need to create a concept that prioritizes the health of residents and the impact on the environment. Nouvert is built exactly in this sense: a quiet environment, clean air and technology that works in favor of indoor comfort,” said Veaceslav Vlas, CEO of Ecovillas Company.

 

Ecovillas Company has been active in the residential market for over 12 years and recently completed the sale of the Epique Home (Pipera) and Ecovillas Otopeni projects.

The Number of Building Permits Increased by 4.4% in the First 11 Months of 2025

In the first 11 months of last year, the authorities issued 4.4% more building permits for residential buildings compared to the same period in 2024, and in November 2025, 10.3% fewer than in October 2025, according to data from the National Institute of Statistics (INS).

 

Thus, in 11 months of 2025, 34,602 building permits for residential buildings were issued. Increases were recorded in all development regions: Center (+287 authorizations), West (+263), North-West (+219), North-East (+198), Bucharest-Ilfov (+152), South-West Oltenia (+145), South-Muntenia (+104) and South-East (+78).

 

In November 2025, 2,924 building permits for residential buildings were issued, down 10.3% compared to October 2025 and up 7.1% compared to November 2024.

Cosmin Olăroiu Partners with Hagag to Develop H East Residence

Cosmin Olăroiu, one of the highest-rated Romanian football coaches, has taken over half of an investment company founded by Hagag Development Europe, following a capital increase in which he participated with the lands of the former Izolatorul factory, in the Bucharest neighborhood of Obor, on which H East Residence is being built, which have a cumulative area of ​​almost 9,400 square meters.

 

Olăroiu and Hagag have signed a partnership through which they will jointly develop the H East Residence residential complex, consisting of 7 buildings with 568 apartments and 824 parking spaces, plus a retail area of ​​approximately 5,000 square meters.

 

The investors are now working on the first stage of development of H East Residence, which includes the construction of 4 blocks with 273 apartments, an investment estimated at EUR 43 million. The structure of the blocks is already erected. Hagag anticipates the total cost of developing the entire residential complex at approximately EUR 84.5 million.

 

Source: Profit.ro

Penny Continues to Expand and Opens Two New Stores

Penny continues to expand its network nationwide and inaugurates two new stores in Curtea de Argeș, Argeș County, and in Fetești, Ialomița County.

With these openings, the Penny network reaches 458 units nationwide.

 

The company recently inaugurated its new logistics warehouse in Mihăilești, Giurgiu County. The Mihăilești warehouse completes the company’s logistics infrastructure in Romania, alongside the centers in Ștefăneștii de Jos, Turda, Bacău and Filiași.

 

The retailer is preparing investments of approximately EUR 3 billion over the next 10 years, three times more than the amount invested between 2014 and 2024, a decision driven by accelerated expansion plans, but also by the significant increase in costs for land, buildings and construction materials, with the goal of reaching 1,000 stores and an expanded logistics network to six regional centers.

Atenor to Exit Romania

Belgian real estate developer Atenor has decided to close its business in Romania, after the sale of the @Expo office complex in Bucharest, a transaction under discussion with investor Mondo Development, a new buyer on the Romanian market. By the end of March, the transaction should be signed, at a price of maximum EUR 55 million.

 

“Atenor has been active in Bucharest for more than 15 years. Initially, we started our activity in the office market, which has recently faced difficulties in terms of leasing and investments, especially due to the COVID-19 pandemic. In the meantime, we developed the UP-site residential project, which has been commercially successful, despite some operational challenges. We are currently analyzing several alternatives, with a focus on our residential activities,” Atenor representatives said.

 

The Belgians also completed two glass residential towers last year, one with 12 and the other with 25 floors, across the street from the Promenada mall in Bucharest. The Up-site Bucharest project includes 256 apartments.

 

Source: Profit.ro

 

Ali Madadi Prepares his Entry into the Logistics Market

Businessman Ali Madadi, owner of the car dealer Rădăcini Motors, is preparing the development of a logistics park with halls dedicated to small and medium-sized companies.

 

He has set out to build 22 halls, one of which will be used as a showroom, and the others for storing general goods. Each hall will have a main storage and office area, plus changing rooms and toilets. The area of ​​each hall is approximately 550-600 square meters, which makes the entire project have a total developed area of ​​approximately 13,000 square meters.

 

The investment in this project is calculated by the investor at 3.1 million euros. The project will be developed on a plot of land with an area of ​​about 4 hectares, located in a logistics park area in the western belt of Bucharest.

 

Source: Profit.ro

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