Globalworth Has Started Construction of Green Court D

tudor@cijeurope.com
4 December 2025
Office

Globalworth Romania has started the construction of Green Court D, the fourth building of the Green Court complex in the Aurel Vlaicu area, a new development supporting Bucharest’s sustainable growth, scheduled for completion in 2027. The project is in the preliminary construction stage, which involves the construction of the enclosure and excavations for the basement structure.

Green Court D will offer approximately 16,500 sqm of modern office space, located on the ground floor and 11 floors, while benefiting from three dedicated underground parking levels. The new project in Globalworth’s portfolio represents the company’s most technologically advanced and energy-efficient building, setting new performance standards in terms of sustainable evolution in the real-estate field. The project has already secured a 30% pre-lease rate, reflecting strong market interest.

“Our latest project, Green Court D, combines state-of-the-art technology and green solutions with sophisticated and comfortable spaces, strengthening Globalworth’s position as the largest business community in Romania. The strong demand – 30% of the area already leased, shows the market’s appreciation for a premium project, which sets new standards in the office segment in Romania.”, said Ema Iftimie, Managing Director Globalworth Romania.

The new development will feature advanced technologies that enhance energy efficiency, such as a geothermal system with 19 wells drilled at 125 m, heat pumps and air-cooled chillers with Free-Cooling, using the environmentally friendly refrigerant R1234ze (GwP < 10) and air handling units equipped with high-performance heat and humidity recovery systems. Also, the building will benefit from the most advanced photovoltaic installation in Globalworth’s portfolio, with an installed power of 168 kWp, full LED lighting, contributing to reduced electricity consumption, complemented by EC-motor fan coils in tenant areas for enhanced efficiency and reduced noise levels, as well as a video analytics-based surveillance system.

Global Vision Investment Fund S.A. signs refinancing agreement with Raiffeisen Bank Romania

Global Vision Investment Fund, an investment and real estate development platform founded by the Global Vision group, has signed a refinancing agreement worth of 4.5 million EUR with Raiffeisen Bank Romania for its retail asset in Oradea. The development is anchored by ATAC by Auchan under a long-term lease agreement and has earmarked landbank for a planned retail gallery.

“This financing represents the final step in consolidating an investment that aligns perfectly with our highly selective policy of investing only in quality assets with long-term lease agreements. Thus, ensuring a portfolio with granular exposure and above benchmark yields, resilient to both real estate market cycles and economic cycles,” stated Sorin Preda, CEO and Founder Global Vision.

GVIF continues its investment expansion, with a current project pipeline exceeding 100 million EUR in various development stages. These include assets from the retail, industrial–logistics, data center, office, and residential segments. The production facility for Diehl Aviation and Corner Office Building, developments worth over 30 million EUR that are becoming landmarks in their respective market segments are the most recent announced projects.

The platform, open to other investors, maintains its accelerated growth strategy, aiming in the coming years to reach a cumulative portfolio of up to 1 billion EUR through acquisitions, developments, conversions, and expansions. This strategy reflects GVIF’s commitment to generating long-term value, supporting the evolution of regional economic infrastructure, and offering new opportunities for investors.

For this transaction, Global Vision received legal assistance from Filip & Company.

M Core officially opened M Park Orăștie

tudor@cijeurope.com
2 December 2025
Retail

M Core inaugurated M Park Orăștie, a new retail park. The project is located on a 23,000 square meters plot and includes a built-up area of approximately 5,500 square meters. It includes modern commercial units, on a single level.

“M Park Orăștie is another solid example of how we are building a resilient and long-term retail platform in Romania. The fundamentals of this market remain strong, and our strategy is to invest in locations with sustained demand, stable tenants and real growth potential. This opening reflects the dynamics of our portfolio and the confidence we have in the important role that proximity retail plays for communities and brands,” said Sebastian Macdonald-HHall, Co-CEO Romania and Chief Investment Officer (Europe), M Core.

Part of the former Bancorex headquarters building is being demolished

Part of the former Bancorex headquarters building is being demolished. AFI bought the former Bancorex headquarters from Immofinanz, part of CPI Property Group, last year. The Israelis spent 27.5 million euros on the building and have approved renovation plans.

The construction works were authorized by the former mayor, Nicușor Dan, and the partial demolition began in September. Upon completion, the building will have over 29,000 sqm. The estimated costs for completion are EUR 68.9 million, excluding the acquisition cost. In total, the building will exceed the value of EUR 100 million.

The modernization works are estimated to be completed in 2028, and the annual rent generated by AFI Central Tower will be EUR 9.3 million.

Source: economica.net

Greek firm Bobotis+Bobotis Architects officially enters the Romanian market

tudor@cijeurope.com
2 December 2025
Other

Athens-based architecture firm Bobotis+Bobotis Architects officially enters the Romanian market, marking an important step in its international expansion strategy.

The company’s portfolio includes residential, commercial, cultural and infrastructure projects.

The Greek firm has had a number of successful collaborations with major developers in Romania, including One United Properties, for flagship projects such as One Floreasca City, One Lake Club, One Lake District and One Peninsula; Globalworth, for the design of the Conference Hall in Globalworth Campus; Alesonor, for Villa 9 in Amber Forest; HBC Development, for Fzeen by Floreasca Lake and private villas in the region.

“Romania is an inspiring, dynamic, ambitious market with a genuine respect for architecture that enhances both urban life and people’s experience,” said Lukas Bobotis, Co-Founder of Bobotis+Bobotis Architects. “We are delighted to strengthen our local presence, continue our partnerships and contribute to the development of a new generation of contemporary and sustainable spaces.”

Source: economica.net

Real estate developer AFI secures EUR 537 mln refinancing

Real estate developer AFI has secured a EUR 537m refinancing package for three major projects in its portfolio, AFI Cotroceni, AFI Braşov and AFI Ploieşti, the largest refinancing in the real estate sector in Romania.

The financing was provided by Erste Bank, Banca Comercială Română SA, Raiffeisen Bank SA, Raiffeisen Bank International and Unicredit Bank SA, represented by law firm Dentons. AFI was assisted by law firm CMS.

“This refinancing reflects the solid confidence that our financial partners have in AFI’s portfolio and in the long-term potential of the Romanian market. We remain committed to our development and consolidation plans, in line with our mission to deliver sustainable, high-quality projects that meet the ever-changing needs of our communities and clients,” said Doron Klein, Deputy CEO of AFI Group and CEO of AFI Romania.

Urbano Shopping & Living to open in spring next year

tudor@cijeurope.com
2 December 2025
Retail

Urbano Shopping & Living, the over EUR 100 million shopping center developed by Urbano Group in the Cluj-Vest metropolitan area, is set to launch in spring 2026, with Hornbach and Selgros stores as its main anchors.

So far, the brands that have confirmed their presence in the future Urbano Shopping & Living shopping center are the Lidl supermarket, fashion & footwear (Sinsay, Deichmann, Benvenuti, Sportisimo, Ovalsport), home & decoration (JYSK, Tedi), services & specialties (Stay Fit Gym, Prime Beef Grocery, Alma Pharmacy, Xpress, Fressnapf, Transilvania Veterinary Hospital, PPC – electric vehicle charging stations), drive-thru Hub & Restaurants (McDonald’s, Starbucks, Popeyes, Burger King, Mesopotamia).

Nhood Romania appoints Mihaela Petruescu as Country Director for Property Services Romania & Poland

tudor@cijeurope.com
2 December 2025
Jobs

Nhood, an integrated real estate services and solutions company present in 10 European countries, including Romania, has appointed Mihaela Petruescu as the new Country Director for Property Services Romania & Poland as of October.

Mihaela previously held leadership positions at real estate firms, such as Cushman & Wakefield Echinox and CBRE Romania, where she coordinated complex teams and managed diverse portfolios in the retail, office, and logistics segments.

“I strongly believe that the future of real estate is about creating sustainable value, not just managing properties. In a constantly transforming market, the difference is made by people and how we succeed in co-creating relevant solutions that meet the real needs of clients and communities. I am joining a team that emphasizes collaboration, innovation, and performance, and I intend to contribute to the development of a property services model based on operational excellence, agility, and a deep understanding of the market. Through this approach, we aim to consolidate Nhood Romania’s position as a trusted partner and a driver of sustainable transformation in the real estate field,” stated Mihaela Petruescu, Country Director for Property Services Romania & Poland.

A Third of the Apartments in the First Phase of Sema Home, Sold in 5 Weeks

Real estate consultant SVN Romania brokered the pre-sale of 100 apartments within Sema Home, representing a third of the first phase of the project, of which it is the exclusive consultant and agent.

This result was registered in only five weeks since the start of the sales process for the residential component of Sema Parc, which is being developed on the location of the former Semanatoarea platform. The first phase of Sema Home will comprise 301 apartments following an investment of about EUR 55 million carried out by Sema Real Estate.

”The good sales result registered by Sema Home shows that there is still a high level of demand on the local residential market, especially for carefully designed projects, which offer an integrated mix between a high level of living quality, sustainability that is translated into energy efficiency and maintenance low costs, and all the facilities and functions necessary for a modern lifestyle,” stated Mircea Marin, managing partner New Homes Division within SVN Romania and Sema Home project manager on behalf of the company.

Phase III of Nusco City Has Been Authorized

Nusco has obtained the construction permit for Phase III of the Nusco City project, which includes 836 apartments, 1,063 underground parking spaces, 1,600 square meters of commercial spaces, and a large interior courtyard with extensive green areas.

This phase continues the development of the tiny forest concept (mini-forest), which began in Phase II. Thus, Phase III of Nusco City – along with Phases I and II – will feature a total green space of over 36,000 square meters, with more than 1,553 trees, 24,309 shrubs, and over 3,700 perennial plants and ornamental grasses.

“We are excited to announce that we have completed the authorization process for the construction of Phase III of Nusco City, a very important stage in the entire development. This phase also marks the start of the development of the first Hyatt hotel unit in Romania, as well as the beginning of the construction of the first Medicana hospital in Romania. It is truly moving to see how our vision for the mixed-use development of Nusco City is taking shape and becoming a tangible part of the daily life of the community,” states Michele Nusco, CEO of Nusco.

Phase III, mirroring Phase II of the Nusco City project, will consist of seven buildings with an estimated investment of over EUR 150 million euros. The 836 apartments will range from double studios to two, three, and four-bedroom units, as well as exclusive duplexes. The 1,063 underground parking spaces are also part of the plan. Construction has already begun, with an expected completion date by the end of 2029.

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