All posts by tudor@cijeurope.com.

Metroul SA to sell the 16,500 sqm land in Politehnica area to Bîlteanu family

Metroul SA has convened its shareholders to decide on the sale of land in the Politehnica area of Bucharest, on which the real estate developer H4L Development, controlled by the Bîlteanu family, has authorized the construction of a residential complex with about 500 apartments.

Metroul SA shareholders must decide in May on the sale of the land at a price of EUR 7.85 million, according to the purchase offer that the Bîlteanu family made to the company on April 7. The property has an area of 16,500 square meters.

Metroul SA entered into a partnership with H4L Development, based on which the real estate developer obtained last year the building permit necessary for the construction of the West Garden Politehnica residential complex, which has 494 apartments planned and an estimated development value of EUR 47 million. The initial plan was for Metroul SA to receive part of the apartments to be built in exchange for the land.

Source: Profit.ro

AYA Properties Completes First Full Asset Acquisition in Romania

Belgian investment fund AYA Properties has completed its first full acquisition in Romania with the purchase of a 37,000 sqm mixed-use development at Record Park in Cluj-Napoca. The project was developed by real estate company Speedwell.

This follows a previous transaction between the two companies in 2022, when AYA Properties acquired the commercial portion of the Record Park development. That deal, valued at EUR 35 million, was structured as a share deal and included 15,000 square meters of Class A office and retail space, as well as a 2,000 square meter sports club featuring a swimming pool.

Record Park is Cluj-Napoca’s first mixed-use urban regeneration project. Alongside the office, retail, and wellness facilities, the complex also comprises 236 residential units.

Source: Profit.ro

Agropan Impex to build bakery in Iasi

Agropan Impex, operating under the Panifcom brand, one of the largest bakery companies in Moldova area, is taking over a 6.2-hectare plot of land from the former Fortus Iasi industrial platform.

In a business plan proposed in April 2024, Panifcom committed to building a bakery. The company plans to produce bread, rolls, pastries, cakes, pies, pancakes, tarts, waffles, toast and more, according to the cited source. Panifcom is expected to invest RON 120 million in building the factory. After the investment is completed, the facility will employ 88 employees.

“The proposed investment envisages the establishment of a new production unit and the diversification of existing production through new products that were not previously manufactured in the unit and an expansion of production capacity for certain products that are manufactured in the existing production unit,” Panifcom said.

Source: Profit.ro

Penny Romania continues to invest locally

Penny Romania recorded a turnover of RON 9.4 billion in 2024, up by over RON 1 billion compared to the EUR 8.32 billion in 2023. Future plans include record investments, expanding logistics and opening 600 stores in the next decade.

In 2024, Penny Romania invested EUR 177 million in its local network. By the end of the year, the company will have 40 new stores and an additional warehouse in Mihăilești, the fifth in the network, scheduled to become operational in the fall.

The company aims to reach 1,000 stores and cumulative investments of EUR 3 billion by 2035. Currently, the Penny network has 417 stores, and the pace of expansion will continue, with another 40 locations scheduled for 2025.

Historic villa for sale in Bucharest’s Aviatorilor area for around EUR 7 million

A historic villa located on Aviatorilor Boulevard in northern Bucharest has been listed for sale by real estate consultancy Cushman & Wakefield Echinox. Built in 1934 and designed by architect Duiliu Marcu, the property is classified as a historic monument.

The villa underwent structural consolidation and full renovation in 2013. It features a basement, semi-basement, ground floor, and two upper levels, offering primarily class A office space alongside a residential apartment on the top floor.

According to Raluca Plaviţă, Head of Residential Agency at Cushman & Wakefield Echinox, the villa exemplifies the characteristics sought by investors in Bucharest’s high-end residential and office segment: a central and prestigious location, modern amenities, and architectural authenticity. She noted that prime properties in areas like Kiseleff, Aviatorilor, Primăverii, and Dorobanți are highly sought after, with price variations depending on the property’s size, features, and specific location.

The villa’s total built area is 715 square meters, set on a nearly 800-square-meter plot, with approximately 600 square meters of garden space.

Terme Olimia completes rernovation of hotel and spa facilities in Croatia

Slovenian hotel owner and operator Terme Olimia said it has completed a EUR 27 million euro (USD 30 million) renovation of the hotel and spa capacities of its Croatian subsidiary, Terme Tuhelj.

“This largest investment by a Slovenian company in Croatian tourism makes us one of the most innovative and sustainable destinations in the region,” Terme Olimia said in a note on its Linkedin profile.

Terme Tuhelj is located in Tuheljske Toplice, northwestern Croatia, near the border with Slovenia.

Dedeman Expands National Network with New Store in Alexandria

Dedeman has opened its 64th store in Romania, marking its first location in Teleorman County. The new store in Alexandria strengthens the company’s national presence and represents an investment of €15.5 million.

The site covers approximately 5 hectares and includes a built area of 13,500 square metres. The facility offers dedicated sections for various product categories, including an 845-square-metre space for furniture, a 500-square-metre showroom for sanitary items, tiles, and ceramics, and a 2,000-square-metre greenhouse for gardening and outdoor products. A parking area with 348 spaces is also available for customers.

The store opening has created 136 new jobs in the region.

Dragoș Pavăl, President of Dedeman, highlighted the importance of expanding into Alexandria, noting that the company aims to build lasting relationships with local communities and offer accessible, quality home improvement solutions.

With this opening, Dedeman continues to develop its footprint across Romania, combining retail expansion with community engagement.

Three real estate developers plan 2,500 apartments

Entrepreneurs Cosmin Filpișan, Attila Ivacson and Florin Dogariu, who have developed over 1,300 apartments in Popești-Leordeni so far, mainly under the Siena brand, have entered into a new partnership, through which they plan to develop 2,500 apartments in the next 4 years.

The newest project of the investor group is the second phase of Ananda Residence in Popești-Leordeni. “The project is in the authorization phase, on the last hundred meters. It consists of 500 apartments, being designed as a continuation of the project on Biruinței 7”, said Cosmin Filpișan.

The investors bought land with a cumulative area of about 60,000 square meters in Popești-Leordeni on which they planned to build 4 residential projects. “In the 4 projects, which will be carried out over the next 4 years, we will build 2,500 apartments”, says Filpișan. The group’s sales representative is the real estate broker Sud Rezidențial

Source: Profit.ro

Almost 1,300 hotel rooms under construction and EUR 900 mln investments in Brasov

The development of defense industries, but also the acceleration of the real estate market, continues to attract investments in Brasov, both on the HoReCa side, and when it comes to production or logistics.

Brasov is gaining importance on the map of Romania due to the consolidation of the defense sector and transport routes, attracting new real estate investments mainly in hotel, residential, logistics and mixed-use projects.

The city hall has budgeted EUR 154 million for investments in 2025 to be allocated for education, public development, infrastructure and tourism. The County Council has a budget of EUR 172 million for infrastructure: 100 kilometers for county roads and 53.1 kilometers for the Braşov Metropolitan Belt. One of the most discussed projects is the Rheinmetall powder factory in Victoria, a project worth over EUR 500 million, supported by funds from the European Commission as well as Romanian public funds.

APS Holding completes acquisition of IMO Property Investments Bucharest

APS Holding, a Czech-based non-performing loan manager, has completed the acquisition of real estate company IMO Property Investments Bucharest and the related portfolio from Eurobank SA.

“The acquired portfolio includes a diversified range of properties across the country, offering considerable potential for strategic capitalization and development,” commented Radu Dobre, Country Manager of APS Romania.

“We are delighted to complete this important acquisition in Romania. This strategic investment aligns perfectly with our growth strategy and demonstrates our strong confidence in the Romanian real estate sector. We greatly value our partnership with Eurobank and look forward to exploring other mutually beneficial opportunities in the future,” said Viktor Toth, CIO of APS Holding.

The transaction was facilitated by APS Investments, with legal assistance provided by Legal Ground/360 Competition. Eurobank SA was advised by Schoenherr (legal) and Deloitte (transactional support).

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