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.”

CEDER 2025 in review: Bucharest Office Market Embraces “Space as a Service” and Occupier Well-being

The Bucharest office market is undergoing a fundamental transformation, shifting from traditional lease agreements, to what is increasingly viewed as a “service agreement” and prioritizing occupier well-being, in what is seen as a redefinition of value in the sector.

Florian Nițu, Managing Partner at Popovici, Nițu, Stoica & Asociații and moderator of the “Office Market Challenges and Opportunities” panel held at CEDER 2025, brought these themes up for discussion by noting a “paradigm change from what we used to call ‘keeping the tenant happy’, […] to ensuring an office building occupier well-being.”

Maria Jianu, Leasing Director at Speedwell, agreed that, while formally the transition may still be underway, “the building in itself is supposed to be more than just a footprint. It’s more about the pulse you have to give to the building, to the community you’re building”.

She also noted that this evolution has been significantly accelerated by the pandemic and the rising expectations of employees returning to the office. Andreea Cotiga, Head of Leasing Office at CPI Property Group Romania, later acknowledged that well-being has become “some sort of a strategic differentiator for attracting employees back to the office”, pushing landlords to evolve from being “just a space provider to becoming an experienced operator or a service partner”.

In practice, this involves enhancing buildings with services and amenities. Maria Jianu highlighted Speedwell’s commitment to mixed-use developments, stating, “we realized there is a huge difference that comes from having both office, retail and residential on the same platform. And all the facilities that are on the ground floor can be optimized and can be used in order to serve the everyday needs of our tenants”.

Adinel Tudor, CEO of EVO Properties, described transforming their buildings into “multifunctional hubs” where they “care a bit more about the tenants’ well-being”. He gave concrete examples: “We will open very soon the first gym which is integrated in an office building and is offered as a facility, free of charge, for all the tenants. […] We are changing the way the lobby of the buildings looks. We are trying to turn that into an informal meeting space”.

Andreea Cotiga declared that CPI Property Group has also invested in retrofitting projects to increase comfort and enrich the employee experience, listing “modernization works, changing finishing materials, sometimes even fully replacing heavy equipment of the building and installation systems and introducing digitalization tools and adopting all kind of sustainability measures.”

The Stock.estate platform has attracted investments of over EUR 1 million

Licensed in the autumn of 2023 by the Financial Supervisory Authority (ASF) and launched for trading in January 2024, Stock.estate reports a total of over EUR 1 million in investments attracted into local real estate assets.

Stock.estate is a crowdfunding platform—the first of its kind authorized by the ASF in Romania and the only operational platform at the local level so far. Investment in the platform has exceeded EUR 500,000, and its development process is ongoing.

The goal of Stock.estate is to offer investment opportunities in the real estate sector, with a minimum investment amount of EUR 100.

“It has been over a year since our launch on the market, and we are both proud and excited to see how beautifully and organically Romania’s real estate market has grown. Real estate investments are becoming increasingly attractive to Romanians, who are not just looking for a simple investment tool but are doing their research, showing concern, and making the final decision only after having all the necessary information. The steps toward a healthy investment culture may not be large, but every step matters, and the fact that in just one year we’ve managed to reach the one-million-euro milestone shows how much Romania’s real estate market has matured,” states Vicențiu Vlad – Co-founder & CEO of the Stock.estate.

La Cocoș takes Carrefour’s place in Supernova Pitești

The Austrian group Supernova announces that, at the end of this summer, the Romanian brand La Cocoș will open in the Supernova Pitești shopping center. The Romanian retailer will take the place of the Carrefour hypermarket.

Starting with December 2024, a consortium of financial investors formed by the European Bank for Reconstruction and Development (EBRD), Morphosis Capital and CEECAT Capital entered the shareholder structure, acquiring a 56% stake and providing a vital infusion of capital to support the opening of 12 more stores.

Their goal is to reach the EUR 1 billion sales threshold in the next 5 years. Currently, La Cocoș operates four stores: two in Ploiești, one in Bucharest and one in Brașov.

Andrew Sheehy and Noel Tynan in advanced discussions for the sale of Neocity Towers

Irish businessmen Andrew Sheehy and Noel Tynan are in advanced discussions with a Romanian investor for the sale of the former headquarters of Alpha Bank, on Calea Dorobanților in Bucharest, in a transaction estimated at around EUR 11 million.

The transaction concerns the building called Neocity Towers, developed between 2001-2004, among the first modern glass and steel buildings in central Bucharest, with an area of around 8,700 square meters. The building was developed by the Neocity group, founded and led by Israeli businessman Ehud Benshach.

The building, now empty, after Alpha Bank moved its headquarters to the Platinum Center building and part of its operations to City Gate, has been put up for sale for several years.