The Perla Hotel in Mamaia will be completely demolished

The Perla Hotel in the Mamaia resort will be completely demolished. A new, modern hotel complex will appear in its place. Built in 1962, the Perla Hotel has been a landmark of the Romanian seaside for generations.

The decision comes after the Constanta Environmental Protection Agency announced that the demolition of the complex does not require an environmental assessment. The project involves the complete demolition of the 12-story building, along with the swimming pool, annexes, confectionery and kitchen, on an area of over 12,000 square meters.

After being purchased in 2019 from businessman Mohammad Murad for about EUR 4 million, the Perla Hotel entered the portfolio of Inproiect SRL, a company from Iași specializing in hotel investments. The same company also owns the Lotus and Select hotels in Mamaia, for which it has similar reconstruction plans.
The three-star Perla Hotel in Mamaia has 205 rooms, spread over 11 floors, and over the years has benefited from several renovation investments, the last of which was in 2015.

Source: Profit.ro

Bogdan Păun is preparing a new residential complex within Metalurgiei Park

Real estate developer Bogdan Păun is preparing a new residential complex, part of the second stage of development of Metalurgiei Park, built on the site of the former Berceni greenhouses.

For this project, Bogdan Păun bought a plot of land with an area of 7,680 square meters, where two block buildings are prepared, structured on a basement, ground floor, 10 floors, plus a secluded 11th floor, and will include 246 apartments, and commercial spaces will be arranged on the ground floor. There will be almost 300 parking spaces in the basement. The investment in this project is estimated at around EUR 30 million.

“The project on Metalurgiei Boulevard will start in the fall of this year or in the spring of next year, depending on obtaining the building permit. Depending on when construction begins, the completion period is 30 months, taking place in two stages,” said Cătălin Grigore, one of the owners of Sud Rezidențial, the exclusive sales agent of the project.

Source: Profit.ro

Symmetrica completes new factory in Vrancea

Symmetrica, the leader in the local market for vibropressed paving stones and curbs, announces the completion of its second factory in the Doaga industrial center, Vrancea county. The total investment was EUR 15 million.

“The takeover, modernization and re-equipment of the factory acquired from Somaco Holding represented a strategic step for Symmetrica. We expanded production capacity, created new jobs and revitalized the industrial tradition of the area. It is proof that long-term investments can generate real economic and social impact for the community,” said Sebastian Bobu, Executive Director of Symmetrica.

With an area of 30 hectares, the Doaga industrial center becomes the largest production platform in the Symmetrica portfolio and a landmark for the industry.

World Class opens new location at Moldova Mall

World Class Romania announces the opening of the newest premium health, fitness & swimming club in Iași, located in Moldova Mall.

“The opening of the new club in Moldova Mall is a strategic step in consolidating our presence in Iași, a city full of energy, ambition and growth potential. We want to be part of this dynamism, offering a premium space where people can truly take responsibility for their own health and well-being. It is not just an extension of our network – it is an effort to build communities around movement, balance and a quality life,” said Kent Orrgren, CEO of World Class Romania.

The new World Class location in Moldova Mall covers an area of over 2,300 square meters and includes a semi-Olympic indoor pool, a fitness area, modern studios for group training and functional training, as well as dedicated relaxation areas, with a dry and wet sauna.

An interwar villa in the Capital, put up for sale for EUR 890,000

A grandiose neo-Romanian style villa, dating from the first part of the 20th century, in the Jewish quarter of the Capital, is being sold for EUR 890,000. The house has a built area of 658 sqm spread over 3 levels and is located on Labirint Street, near Unirii Square.

The house is consolidated and completely renovated, and even though it has undergone subsequent modifications, it retains references to the past. The facade was rebuilt, but the decorative elements were preserved, and the electrical and plumbing installations were changed.

The house has 9 rooms, a generous 400 sqm courtyard where there is also a gazebo. Positioned in an area with easy access and urban tranquility, the house offers all the contemporary comfort in a noble setting, full of history.

M Core plans to invest over EUR 200 million in the next two years

M Core has invested over EUR 150 million since the beginning of the year to acquire the Focşani Shopping Center projects from KBC and Suceava Shopping City along with seven retail parks from real estate investor MAS. In parallel, M Core has completed six new retail projects and plans additional developments that will exceed EUR 200 million in the next two years.

“Our continued investments in Romania underline our long-term commitment to the market and confidence in the resilience of the sector. We continue to identify quality assets that align with our strategic vision and enhance the retail experience for tenants and consumers. With over EUR 200 million dedicated to future projects, M Core is focused on innovation, sustainability and excellence in retail,” says Sebastian Macdonald-Hall, Chief Investment Officer at M Core.

“The transactions carried out by M Core in the last six months reflect the solid performance of the retail sector and reconfirm investors’ confidence in Romania’s long-term potential,” explains Simina Niculiţă, Head of Retail Partner at Colliers.

Accor opens hotel in Palase, Albania

French hospitality group Accor has opened a luxury hotel in the tourist village of Palase, southern Albania, according to general manager Ferenc Zsolt Horvath. The hotel, operating under Accor’s luxury brand MGallery Collection, will be open year-round. The facility offers 131 sea-view rooms, including 26 suites.

In 2021, Accor opened its first hotel in Albania, under its premium brand Movenpick, in the Lalz bay touristic area near Durres. In March last year, it opened a hotel under its mid-range brand Mercure in Tirana.

Accor also plans to open a hotel under its premium brand Adorn in Tirana in October.

IKEA Romania to Install Photovoltaic Panels in Pallady Store Parking Lot

IKEA Romania has launched a project to install 1,435 photovoltaic panels on carport structures in the parking area of its Pallady store in eastern Bucharest. The initiative is part of the retailer’s strategy to increase energy efficiency and generate electricity for on-site consumption.

The project involves the construction of carport structures over double and single parking spaces. In the double-space areas, 250 panels will be installed to cover 42 parking spots, while the single-space section will accommodate 90 panels over 15 spaces.

The investment, which includes permitting, studies, design, construction, and operational accreditation, is valued at approximately EUR 1 million. The installation is expected to be completed within two months.

CEDER 2025 in review: Shifting Focus and Emerging Opportunities in Romania’s Real Estate

Andrei Văcaru, Head of Capital Markets CEE at iO Partners and moderator of the “Market Growth Projections” panel discussion held at CEDER 2025 highlighted the fact that post-pandemic structural shifts have been driving a change in focus, prompting investors and developers to explore new and emerging sectors and sometimes broaden their horizons beyond traditional asset classes.

Anca Merdescu, Head of Investments at Square 7, part of M Core, talked about a shift of focus towards the industrial sector. She also believes residential is a sector with “structural significant demand, which is not yet covered by the current supply”. Similarly, Aurelia Luca, Executive Vice President Operations Hungary and Romania at Skanska noted they are “looking in the region to residential for rent and mainly under the PRS umbrella”, planning projects in Poland and the Czech Republic and anticipating the trend will most probably follow to Hungary and Romania, where demand appears strong.

Vlad Dragoescu, Director, CEE Head of Portfolio Management at Revetas Capital expressed their interest in “a lot of segments, from PRS, resi to sell, to assisted living, student housing and so on”, segments which are still not present on the Romanian market.

Miroslav Tavel, Managing Partner at OPC Holding, whose core focus is retail parks, expects segments which haven’t yet come to Romania, “as these self-storage or renting homes” to be represented on the market, “in maybe [the] next five years”.

Silviu Toma, Executive Director, Project and Corporate Structured Finance at Raiffeisen Bank, indicated the bank is “very much focused on retail […] together with logistic and industrial”, while also seeing potential in “specialized real estate projects, like clinics, hospitals, schools, resi for lease, entertainment mixed with residential”, noting that these fields offer “plenty of room to grow”. He added that “the groups of companies, […] big developers, usually they have a core part, but […] they are looking to expand in other secondary fields in real estate to improve the picture of the group and the benefits.”

However, entering these newer areas requires careful consideration. As Vlad Dragoescu pointed out, exploring segments like assisted living or student housing necessitates the “entire infrastructure, you need both the equity and the debt component to be adapted to that specific type of business in order to support the cash flow at least in the initial maturity phasing”. Anca Merdescu added that her company explores new sectors alongside a local partner or developer, deeming it “essential for entering a new asset class”.

IULIUS to invest EUR 28 million in new family market project in Tomești

IULIUS Group has announced plans to invest approximately EUR 28 million in a new proximity retail project in Tomești, Iași County. The development marks the company’s third Family Market project and is scheduled to begin construction by the end of this year, with completion targeted for the final quarter of 2026.

The planned Family Market Tomești will feature a leasable area of around 16,000 square metres. The project will include a supermarket and a curated mix of services and retail units, with a focus on local producers. It will also feature a drive-thru restaurant, cafés, and food outlets, as well as a public park covering approximately 10,000 square metres.

The development will provide more than 450 dedicated parking spaces and will include infrastructure upgrades to support the project. The approval and permitting process for the project is currently ongoing.

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