All posts by tudor@cijeurope.com.

NEPI Rockcastle Completes First Stage of Modernization of Promenada Mall’s Foodcourt Area

NEPI Rockcastle completes the first stage of modernization of the foodcourt area in Promenada Mall. The redevelopment began this summer, is being carried out in stages and will be completed in 2026. With the completion of the first stage of the redevelopment process of the foodcourt area, Promenada Mall adds eight new names to the list of tenants. In addition, three restaurants are reopening in modernized spaces.

The 22 malls of the South Africans from NEPI Rockcastle brought them almost EUR 300 million  last year, 12.4% more than the previous year’s result and remain the leaders of this real estate sector. Store sales (excluding hypermarkets) in NEPI malls increased by 8.5% compared to 2023.

Source: Profit.ro

Saiv Global Has Officially Launched in Romania

Saiv Global, a new real estate consultancy company, has officially launched in Romania, introducing an integrated approach that combines real estate expertise with organizational transformation and strategic execution.

The company is founded by Ștefan Gheorghiu, who brings nearly three decades of international leadership experience in real estate, construction, and corporate services and has been involved in projects and transactions totalling over $2 billion in assets.

“Saiv Global is a new company, but the services we offer are the result of over 20 years of international strategic real estate consultancy. In my role as Senior Global Real Estate Consultant, I’ve managed to significantly reduce costs for multiple companies while aligning their spaces with their business goals, which ultimately led me to discover a market opportunity to build a customized platform that helps companies take the next step in reducing the cost of their real estate portfolios,” said Ștefan Gheorghiu, Founder & CEO of Saiv Global.

COMPA SA Announces the Launch of ARSENAL RESIDENCE – Phase II

COMPA SA, one of Romania’s largest automotive components manufacturers with fully Romanian capital, announces the second phase of ARSENAL Residence, a large-scale residential development located in the heart of Sibiu, right next to Sub Arini Park. The total investment will exceed EUR 30 million.

With a total area of 29,702 sqm, ARSENAL Residence will be developed in three stages.

The first phase has already been completed and includes four buildings, each with 10 apartments. The second phase, already 30% sold, comprises four buildings with 17 apartments each, along with three commercial spaces. The third phase, currently under design, will expand the development with an additional residential area and modern office buildings.

Phase II includes the construction of 68 apartments with 2, 3, and 4 rooms – including penthouse units – complemented by ground-floor commercial spaces that will later accommodate various service and retail functions based on market demand. The complex offers both underground and above-ground parking with lift access, while its central location ensures residents quick access to schools, kindergartens, sports facilities, and hospitals.

The Concept is the official sales representative for Arsenal Residence.

“Arsenal Residence is one of Sibiu’s most important residential developments and a great example of smart reconversion of a central area with access to one of the city’s most valuable resources – Sub Arini Park. We are honored to be the official sales partner and to bring to market an offering that combines a premium location with a modern, functional, and high-quality architectural concept,” said Daniel Tudor, Founding Partner & CEO – The Concept.

Merchant Dimitrie Petrescu’s House Acquired by Sector 1 Local Council

The Merchant Dimitrie Petrescu’s House, a heritage property located on Calea Griviţei no. 115, has been acquired by the Sector 1 Local Council for EUR 1.7 million to be transformed into an educational and cultural center, announced the Romanian branch of Sotheby’s International Realty.

Built in 1895 by merchant Dimitrie Petrescu, the building is an architectural landmark of late 19th-century Bucharest. With a land area of ​​682 square meters and a built-up area of ​​1,656 square meters, it has a market value of over EUR 2.1 million, according to the standards of the National Association of Authorized Appraisers of Romania (ANEVAR).

The property currently has an architectural project for the restoration of the facade, interior redevelopment and the transformation of the attic into a loft.

Splendid Hotel in Eforie Sud is Up For Sale

The Splendid Hotel in Eforie Sud, located on Falezei Street, is up for sale.

The complex is located on a 3,745 square meter plot of land, being built on its entire surface. The building has a constructed floor area of ​​3,745 sqm and includes: Hotel with 25 rooms, each with private bathroom; 3 spacious apartments with private bathrooms; Generous restaurant with a seating capacity of at least 100; Fully equipped kitchen and storage space; Parking spaces, annexes and outbuildings.

The property is 100% functional, operating at full capacity in season. The owners are asking for EUR 1.6 million for the property.

SkyTower Advances Modernization of Common Areas in Bucharest Tower

SkyTower Bucharest has completed a significant phase of refurbishment and modernization works across its common areas, marking another step in the tower’s long-term investment program. The latest project involved the full renovation of the elevator lobbies on all 35 floors, from the first to the top level, representing a seven-figure investment in euros.

This upgrade follows a series of modernization initiatives undertaken in recent years to enhance both functionality and user experience within the building. Previous works have included the transformation of part of the outdoor esplanade into the SkyTower Urban Garden—an award-winning green space recognized for its design and architecture—and the conversion of a former cafeteria into the SkyHub Events Centre, a multifunctional community area with the first integrated auditorium in an office building in Bucharest.

SkyTower has also redesigned its main lobby, introducing a six-meter-tall LED screen that serves as a visual centerpiece, alongside the creation of the CAFELIER café as a new social and meeting point for tenants and visitors.

Leo Forstner, Managing Director of RPHI Romania, which owns SkyTower, said the ongoing modernization reflects the company’s strategy to maintain the tower as a benchmark in the capital’s office market. “Through these constant investments, SkyTower Bucharest is consolidating its position as a landmark in the Bucharest office market, offering companies an environment adapted to new trends and employees’ needs—from connectivity and flexibility to design and sustainability,” he stated.

With these upgrades, SkyTower continues to strengthen its reputation as one of Bucharest’s most advanced office buildings, combining architectural innovation with a focus on comfort and community.

Lidl Opens New Store in Agnita

The German retailer Lidl is opening a new store in the city of Agnita, Sibiu County. The store has a sales area of ​​over 1,000 square meters and offers customers 100 parking spaces.

Lidl stores will also be located in certain blocks and buildings, according to Irina Mușan, a member of the Lidl Board of Directors. Lidl, part of the Schwarz group, headquartered in Neckarsulm, is one of the top companies on the food retail market in Germany and Europe.

Lidl currently operates over 12,600 stores and over 230 logistics centers and warehouses in 31 countries. Lidl has approximately 382,400 employees, of which over 13,000 in Romania, where the German retailer has opened over 370 stores and 6 logistics centers.

Rituals Cosmetics Opens New Stores in Iulius Town Timișoara, Palas Iaşi and Iulius Mall Cluj

International brand Rituals is joining IULIUS Company’s retail network and will open stores this autumn in Iulius Mall Cluj and the Iulius Town Timișoara and Palas Iași mixed-use projects. Globally renowned for its care and wellbeing products, Rituals brings its holistic philosophy closer to the public through varied collections inspired by nature and ancient rituals.

“This autumn, international brand Rituals will open stores in Iulius Town Timișoara, Palas Iaşi and Iulius Mall Cluj, which are the best performing shopping developments outside the Capital and regional market leaders. Rituals is widely acknowledged in the beauty industry for its holistic philosophy, seamlessly blending mindfulness with sustainable beauty practices inspired by ancient Asian traditions. We are confident that this partnership will add significantly to the shopping experience, giving our clients the opportunity to discover the sensory universe and unique philosophy of Rituals,” said Oana Diaconescu, Head of Leasing Retail IULIUS.

Intesa Sanpaolo Plans to Recolate its Employees to One Victoriei Plaza

Intesa Sanpaolo Bank Romania is analyzing the option of moving the bank’s headquarters from the America House office building, located in downtown Bucharest, to the neighboring tower, One Victoriei Plaza, where First Bank, a financial institution in the process of merging with Intesa, has its headquarters.

The headquarters of Intesa Sanpaolo Bank Romania occupies approximately 3,300 square meters in the America House building. The bank’s lease agreement with the owners of America House expires in approximately one year.

The One Victoriei Plaza building has 15 floors and a total leasable area of ​​approximately 12,000 square meters used exclusively as the headquarters of First Bank.

Source: Profit.ro

 

Florin Mariş Acquires 32 ha of the Former IMGB of Cluj

Cluj businessman Florin Mariş, founder of the Hexagon group, has made one of the largest land acquisitions in Romania in the last ten years: the purchase of the former CUG industrial platform in Cluj-Napoca. The land has an area of ​​32 hectares, and the value of the transaction exceeds EUR 20 million. In addition, the industrial platform will also have a metro station in proximity when the infrastructure project is completed, with the Muncii station being planned nearby.

Through this acquisition, Hexagon aims to transform the area into a new mixed urban hub, with residential, commercial and office functions, in the proximity of the future mall developed by Prime Kapital and MAS REI.

The transaction was brokered by CBRE Romania, and legal advice was provided by Popovici Niţu Stoica & Asociaţii (PNSA).

 

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