All posts by tudor@cijeurope.com.

McDonald’s opens new restaurant in Râmnicu Vâlcea

Premier Restaurants Romania, the operator of the McDonald’s restaurant chain in Romania, announces the opening of a new restaurant in Râmnicu Vâlcea. The Drive-Thru restaurant is the third in the city and, at the same time, the seventh McDonald’s restaurant opened in Romania this year.

The value of the investments for the new restaurant amounts to approximately RON 12.5 million.

Recently, McDonald’s closed one of the oldest restaurants in Romania, namely the unit near Cișmigiu Park, in the capital.
McDonald’s owns 106 restaurants in 33 cities, of which 59 restaurants with McDrive and 68 McCafé cafes. The company has a team of over 6,000 employees.

Victoria Group plans residential project near Dragonul Roșu

The Victoria Group company, with Chinese shareholders, is preparing to develop a residential complex with 76 apartments on a plot of land located near the Dragonul Roșu shopping complex, near Bucharest. The plan is to build the real estate project on a plot of land with an area of approximately 3,600 square meters, located in a residential area under development in the town of Dobroești near Bucharest.

The building to be built will be a multifunctional, commercial, administrative and residential one, structured on a semi-basement, ground floor, mezzanine and 7 floors, with a developed area of almost 16,000 square meters, in which 76 apartments will be arranged, along with a parking lot with 158 spaces.

Source: Profit.ro

Former Cehoslovaca garment factory land put up for sale

The former Cehoslovaca garment factory located at 100 Berzei Street, Bucharest, has been put up for sale. The 4,400 square meters plot has a 50 square meters opening and is suitable for a hotel, office building or a public institution.

The price is high: EUR 18 million for the entire property, and the price per square meter would be EUR 4,090.
The factory was inaugurated in the 1930s, amid economic cooperation between Romania and Czechoslovakia, following the formation of the “Little Understanding” alliance.

Source: economica.net

M Core buys seven strip malls in Romania from MAS Real Estate

The British group M Core has signed for the acquisition of seven strip malls from MAS Real Estate for EUR 49 million. Thus, just one year after taking over the 25 retail parks managed by Mitiska REIM for EUR 219 million, M Core continues its expansion.

In the transaction, consultants from iO Partners advised M Core, and those from C&W Echinox advised MAS Real Estate.

The transaction targeted retail parks in Focsani, Slobozia, Râmnicu Sărat, Sebeş, Târgu Secuiesc, Făgăraş and Gheorgheni, with a total of 27,000 sqm of rentable area. The most expensive of these was Focsani, for which the British paid EUR 13.1 million, also having the highest rent of 14.88 euros/sqm/month.

Nusco City to host first hotel unit Hyatt in Bucharest

Nusco has signed a partnership agreement through which Hyatt will open its first hotel unit in Bucharest, in one of the largest urban regeneration projects in Romania – Nusco City.

The Hyatt operator is entering the Bucharest market with the Hyatt Place and Hyatt House brands in the mixed-use Nusco City development in the north of the capital. “We are extremely pleased to contribute to the development of the local real estate market through this new partnership, signed with one of the world’s most renowned hotel brands – Hyatt. We also appreciate Hyatt’s confidence in the Romanian market and in our urban regeneration project – Nusco City,” stated Michele Nusco – CEO – Nusco.

Hyatt Place will operate a 170-room, 4-star hotel in Nusco City, while Hyatt House will offer 100 extended-stay rooms.

Hyatt signed at the beginning of this year a partnership for a hospitality unit also in Brasov.

“This project is a representative step towards expanding the mix of functionalities offered by Nusco City, transforming this area into a true urban hub. The partnership with Hyatt underlines our commitment to bring international standards to our developments. Equally, Hyatt’s entry in Romania this year represents a significant moment for the entire industry”, explained Bogdan Iliescu, Commercial Director, Nusco.

Hyatt – through Hyatt Place and Hyatt House – will be located on more than 4,000 square meters of the Nusco City project, and the developer Nusco will invest more than EUR 42 million in this hotel unit.

The project was brokered by Est Hospitality, a consulting company specializing in fast-growing Eastern European markets, with a focus on Romania, Moldova, Hungary and the Czech Republic.

Meta Estate Trust refinances investment in Swissôtel in Poiana Brașov

Meta Estate Trust announces the EUR 1 million finance from Patria Bank intended to refinance 60% of the investment made in the Swissôtel Poiana Brașov project.

The investment in the Swissôtel project, made in 2023, represented Meta Estate Trust’s debut in the hotel market. The company currently owns 4 apartments and 5 parking spaces in the Poiana Brașov project, properties that are operated by Swiss Management Company. The financing in the amount of EUR 939,057 was provided by Patria Bank for a period of 120 months.

The bank financing obtained by Meta Estate Trust comes after the company announced at the end of 2023 that the developer of the Neagoe Basarab project in Poiana Braşov, in which the company invested EUR 1.5 million, had entered into a partnership with the Accor group, one of the largest hotel groups in the world, for the opening of the Swissôtel hotel starting in 2024. The Swissôtel hotel in Poiana Braşov has been open since October this year and is operating at full capacity.

Inevo SRL expands its logistics operations at CTPark Bucharest South

Inevo, the operator of the BabyNeeds.ro brand, an online store renowned for its wide range of children’s products, has chosen CTPark Bucharest South as the site for its operational activities. Inevo has leased 1,800 square meters of warehouse and office space to support its continued growth both in the Romanian market and internationally.

Cristina Manea, Business Developer at CTP Romania, stated: “In a dynamic market like Bucharest, CTPark Bucharest South offers a strategic location for companies operating in the southern part of the Capital and its surroundings. With quick access to the A1 and A2 highways and the A0 ring road, this industrial park is an ideal location for distribution and production operations. We are delighted that a leading brand in its niche, such as BabyNeeds.ro, has chosen us to expand its logistics activities.”

Paul Mihalache, CEO BabyNeeds.ro, commented: “Expanding our logistics operations within CTPark Bucharest South allows us to strengthen our market position and respond more efficiently to our customers’ needs. Our diverse range of products—from premium strollers and car seats to educational toys and children’s furniture—now benefits from an improved logistics chain that ensures fast deliveries and consistent stock levels. This move reflects our commitment to providing families in Romania with access to high-quality products supported by excellent services.”

Currently, CTPark Bucharest South features a leasable area of 85,000 sqm, with over 20,000 sqm immediately available for rent, providing flexibility and fast solutions for companies in need of modern logistics spaces. Units available for lease start at 4,000 sqm.

REI Grup attracts over 70% non-reimbursable funding for a EUR 1.5 mln in hotel in Campulung

An investment of more than EUR 1.5 million in the first hotel with 4-star standards and facilities and the first greenfield project in the last 50 years in the hotel sector was realized in Campulung Muscel, where the Imperial Hotel was recently inaugurated.

The total value of the investment amounted to RON 7.788.593,26, of which 70% represents European funds, was successfully attracted by the REI Grup team, through the Regional Operational Program 2014-2020, Priority Axis 2, managed by the Agency for Regional Development South-Muntenia.

“Hotel Imperial is the first major hotel investment in our city in the last 50 years. Construction started 5 years ago and the hotel was opened in early December. We are happy to have completed the works, while the good cooperation with the REI team helped us to successfully obtain the grant,” said Marilena Dumitrache, manager of Hotel Imperial stated.

R.Power has started the construction of its first photovoltaic park in Romania

R.Power SA, a Polish photovoltaic project developer and independent power producer, announced that it has launched the construction of its first photovoltaic park in Romania.

R.Power plans to build four solar parks with a combined capacity of over 23 MWp. The plants will be installed in the communes of Şalpu, Suseni, Punghina and Dudeşti and are scheduled to be put into operation in the last quarter of 2025 and the first quarter of 2026.

The projects will be built by the Polish company Nomad Electric and the Romanian company Waldervar.

“This first portfolio represents a key step in our expansion strategy within this fast-growing market,” said Przemek Pieta, CEO of R.Power.

Source: economica.net

Apartments prices rose by 10% on average in 2024

The year 2024 brought a significant increase in prices on the Romanian real estate market, with apartments for sale being, on average, 10% more expensive than in 2023, according to the annual report by Storia. Romanians’ preferences changed in 2024, with three-room apartments becoming the most sought-after (51%) compared to two-room apartments, which were preferred in 2023.

Thus, the average price of a new apartment reached EUR 1,840/sqm, an increase of 10% compared to 2023. Also, old apartments recorded an average value of EUR 1,661 /sqm, which represents an increase of 11% compared to last year.

Regarding the dynamics of transactions, Bucharest was the city where properties were sold the fastest.

“In 2024, buyer interest shifted to three-room apartments, which became the most sought-after, compared to two-room apartments, which were preferred in 2023. We also noted a significant increase in buyer engagement, reflected in the increased number of contacts compared to the previous year,” said Monica Dudău, Senior Marketing Manager at Storia & OLX Imobiliare.

Source: economica.net

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