Ghai Sant Ram Acquires a Plot of Land in Pipera for Residential Project

British investor Ghai Sant Ram is expanding his real estate portfolio in Romania through a new strategic acquisition completed via Ghai Family Holding in northern Bucharest. The investor acquired from George Becali a plot of approximately 30,000 square metres, located near Pipera Plaza, where he intends to develop a residential project comprising approximately 650 apartments.

The purchase price was approximately EUR 14.3 million, and the land was acquired together with the building permit for a large-scale real estate development. The transaction was brokered by CGA Home Consulting.

Details of the development’s exact configuration, apartment mix, number of parking spaces, amenities, total investment value and construction timetable will be announced once the technical stages have been completed.

With 1,188 apartments at IVORY RESIDENCE, 699 at HORIZON CITY and 650 planned for the new Pipera development, Ghai Sant Ram’s residential portfolio in Romania exceeds 2,500 units.

WDP Merges with French rival Argan

Warehouses De Pauw (WDP), whose main shareholder is one of the richest families in Belgium, will merge with French rival Argan, a transaction that will create a European real estate and logistics giant, valued at over EUR 13 billion.

The enlarged group will be the largest player in the sector in France, Belgium, Luxembourg and the Netherlands. WDP owns a portfolio of industrial and logistics spaces in Romania valued at over 1.6 billion euros and a total leasable area of over 2 million square meters. The portfolio is spread over 80 locations and covers all regions of the country.

If approved by the companies’ shareholders, the transaction will mark Argan’s entry into Romania. Argan is the largest logistics REIT in France, with a portfolio of 3.8 million square meters in over 100 warehouses, valued at EUR 4.1 billion.

Source: Profit.ro

Radisson Blu Opens Hotel at Cota 1400 in Sinaia

The Cota 1400 hotel in Sinaia will reopen on August 5 under the international Radisson Blu brand, following an extensive conversion and expansion process. The building, considered a historic monument dating back to 1939, will be operated by the hotel management and consulting firm Premier Hospitality.

At opening, Radisson Blu Sinaia Cota 1400 will offer 68 rooms, including six junior suites and two presidential suites, as well as a heated outdoor pool. The property is already listed on the Radisson Group platform, with rates per night ranging from EUR 204 to EUR 597, currently subject to promotional discounts of 10% to 20%.

The property is owned through Hotel Cota 1400 SRL, controlled by Radu Popoiu, owner of the energy sector company Next Energy Partners. Operations are managed by Premier Hospitality, a company led by Lucian Marinescu and Călin Ile.

9% VAT Rate on Home Purchase Promises Concluded by July 31, 2025, Extended by 2 Months

The deadline of July 31, until which home buyers with sale-purchase promises concluded by July 31, 2025 can benefit from the application of the reduced VAT rate of 9% will be extended by Parliament until September 30, in the context of the cyber attack suffered by the National Agency for Cadastre and Real Estate Advertising (ANCPI), senators established by voting on a bill. The bill was supplemented with the provision that people who will complete the purchase of homes between August 1 and the date of entry into force of the new law will be able to request a refund of the difference between the standard and reduced rate.

Since Tuesday, July 14, all IT systems managed by ANCPI have been down, including the institution’s email addresses and the e-Terra cadastre and land registry application, due to a cyber attack. Two weeks after the cyber attack, land registry extracts and tabulations, documents without which no transaction can be completed, remain unavailable. Moreover, the Government is still unable to specify the date when the Cadastre will resume its activity.

The blockage occurs just a few days before August 1, the date from which VAT increases from 9% to 21% for new homes pre-contracted before August 1, 2025 and for which a 20% advance payment was paid.

Ipotecare.ro: Mortgage Financed Residential Transactions are Increasing

The share of residential transactions completed through mortgage lending has increased significantly in recent years, both nationally and in the Bucharest–Ilfov region, according to an analysis carried out by the exclusively online broker Ipotecare.ro, based on official statistics.

Accordingly, the total number of mortgages registered in the first six months of 2026 in Bucharest and Ilfov reached a share of almost 59% of total residential sales, down from almost 63% recorded in 2025. The share of transactions completed through mortgage lending has increased significantly in recent years, with a ratio of only 50% recorded in 2022, according to Ipotecare.ro calculations based on data from the National Agency for Cadastre and Land Registration (ANCPI).

The increase in property transactions completed through mortgage lending was even more pronounced nationally: mortgages registered in the first half of this year represented just over 57% of all residential transactions recorded in Romania in 2026, a percentage similar to that of 2025, but much higher than the share of only 43.5% recorded in 2022.

The sharper increase in transactions completed nationally through mortgage lending occurred against a backdrop of significant rises in house prices in recent years, as well as lower accumulation of personal resources compared with those recorded in the Bucharest region.

At the same time, it should be noted that the total number of registered mortgages also includes refinancings, although their number declined in 2026 compared with the peaks recorded during 2023–2025. For example, only 16% of the loans brokered by Ipotecare.ro in 2026 were refinancings, with the remainder being new loans intended for property purchases.

“The share of residential transactions completed through mortgage lending has increased and will continue to grow as young people from Generation Z, currently aged under 30, become the main active economic force in the property market. The number of mortgages has also increased as a result of rising house prices in recent years, with capital accumulation possible to a lesser extent. Finally, the steady fall in mortgage interest rates and the launch of attractive products have led to increased interest in mortgage lending,” explained Laurentiu Bogdan, Managing Partner at Ipotecare.ro.

The number of homes sold in the first six months of 2026 in Bucharest and Ilfov was only 1.4% lower than the figure recorded in the first six months of 2025, while nationally there was an annual decline of almost 9% in residential sales recorded in the first half of this year, according to ANCPI data.

MR.DIY Opens Store at Colosseum Mall

Colosseum Mall announces the official opening of the home improvement and lifestyle retailer, MR.DIY. The new MR.DIY store is spanning over 800 sqm and is developed following an investment of nearly half a million euros.

Earlier this spring, Colosseum Mall also welcomed dm dogerie markt and Planeta Arthur bookstore.

“MR.DIY’s decision to open at Colosseum Mall is a strong confirmation of the centre’s commercial potential and of the direction we are building: a more complete, more relevant and more resilient retail destination. Together with the recent openings of dm drogerie markt and Planeta Arthur bookstore, this new addition reflects a clear process of tenant mix refinement, focused on concepts that generate frequency, serve everyday needs and create long-term value for both visitors and retailers. Colosseum Mall offers expanding brands a strong catchment area in the north-west of Bucharest, accessible retail formats, a diverse customer base and a platform that continues to grow together with its partners,” said Anca Scarlat, PR Manager Colosseum Mall.

CTP Delivers First DEHN Factory in Romania within CTPark Pitești

CTP has completed and delivered a 9,500 sqm built-to-suit production unit for the German company DEHN within CTPark Pitești, where the manufacturer has already started its activity. The project marks the inauguration of the first DEHN production unit in Romania.

Developed as a built-to-suit solution, the unit was adapted to the company’s operational requirements. CTP managed the entire process, from land identification and obtaining permits to construction and property management, which allowed the factory to be inaugurated on schedule.

The new facility will create up to 150 jobs in production, logistics and support services.

With the delivery of the new facility for DEHN, CTPark Pitești reaches approximately 80,000 sqm of industrial space. The park is located near the A1/E70 highway, less than 30 minutes from the city of Pitești.

Apartment Blocks with over 3 Floors to Benefit from Elevators through “Elevator for Life” Program

President Nicușor Dan has promulgated the draft law on the establishment of the national “Lift for Life” Program, financed from the state budget, local resources and European funds, with the aim of installing elevators in apartment blocks with over 3 floors.

Approximately 3.8 million Romanians, especially residents with special needs (elderly, disabled) in almost 90,000 blocks of flats, will benefit in this way from decent conditions for access to their homes.

However, condominiums classified or in the process of being classified as historical monuments, respectively those classified in the seismic risk class RsI or RsII, will be excluded from the program, unless they are included in the intervention program to increase the level of seismic safety.

The Volume of Construction Works Increased in the First 5 Months of 2026 by 12.4%

The volume of construction works increased in the first five months of 2026 by 12.4%, after residential buildings advanced by 16.1%, engineering constructions by 14.1% and non-residential buildings by 6.4%, according to INS data.

In May 2026, the volume of construction works increased, compared to April 2026, by 1.1%. Compared to May 2025, the volume of construction works increased by 16.2%.

By structural elements, annual increases were recorded in new construction works (+21.5%), capital repair works (+10.2%) and maintenance and current repair works (+4.2%). By construction objects, increases were recorded in residential buildings (+31.3%), engineering constructions (+14.0%) and non-residential buildings (+10.5%).

Construction sector costs in May 2026 compared to the previous year in the period increased by 10%, and the cost of construction materials by 13.2%.

Former CET Grozăvești Plant in Bucharest to Become “Energy District”

The capital’s electricity and thermal energy producer, ELCEN, is waiting to obtain demolition permits for some of CET Grozăvești’s old assets, to make way for the “Energy District”, an urban regeneration project, with new buildings that will house all state-owned energy companies, along with the Ministry of Energy.

“Immediately after obtaining the demolition permits, the entire demolition of the existing buildings on the site of the future project, in the Grozăvești CET area, will begin…Following the release of the land, the project will continue with the execution of the complex works of diverting the main heating and natural gas networks that currently cross the site of the future project. The actual construction stage of the “Energy District” will be started immediately after obtaining the final authorization, the feasibility study and technical and economic indicators having already been approved by the ELCEN Board of Directors,” the company announced.

The estimated value of the investment is approximately RON 600 million, with the project benefiting from non-reimbursable financing through the Modernization Fund.

Source: economica.net

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