Chic Chic Urban Fashion opens first location outside the Capital, in Iulius Town Timisoara

IULIUS is diversifying its portfolio of luxury retailers by drawing new partners. Chic Chic Urban Fashion, a multi-brand retail chain bringing together exclusive brands, recently opened its first location outside of Bucharest in Iulius Town Timişoara. Chic Chic Urban will also operate in RIVUS, the urban regeneration project that IULIUS Company is developing in Cluj-Napoca.

The opening of Chic Chic Urban Fashion in Iulius Town grants access to clients in the west of Romania to a diversity of high-end brands such as: JOOP, Zac Posen, John Galliano, STRELLSON, Maison Close, ISNURH, Patrizia Pepe, Herve Leger, IOS by Maica, Serge Pariente, HUDSON, Fabio Rusconi, My Best Bag Firenze, La Haine.

“We chose Iulius Town following a thorough analysis, due to its popularity and diversity, which perfectly lines up with our brand vision. This projects includes a wide range of stores, restaurants and services, drawing a large and diverse public. We believe that this location is an ideal stepping stone for our expansion into other key areas of the country, allowing us to reach an increasing number of clients and to offer them access to our exclusive collections, plus an exceptional shopping experience. We are delighted with the opportunities afforded by Iulius Town,” said Briana Baciu, Marketing Specialist, Chic Chic Urban Fashion.

The Chic Chic Urban Fashion retail chain operates two full price locations, two outlets and a Patrizia Pepe HUB in Bucharest, the store in Iulius Town marking the retailer’s first location to open outside the Capital.

IWG to open new coworking space in the Business Garden Bucharest complex

Vastint Romania announces a new strategic partnership with IWG, the global leader in hybrid workspace solutions, which will open a new Spaces location within the Business Garden Bucharest complex.

As the adoption of hybrid working rapidly accelerates across Romania, the number of enquiries for space in International Workplace Group locations has risen sharply and this new opening helps meet rising demand.

The company plans to open the new coworking space in Q1 2025, occupying 1,900 sqm of meeting rooms, private and shared offices, within Building A of the Business Garden Bucharest office project. Spaces, along with other global and regional workspace brands, is part of the IWG network, which includes Regus, HQ and Signature.

“We are establishing a stronger and much-needed footprint in Romania with this latest opening. As an important business hub Bucharest is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal. We are very pleased to work in partnership with Vastint Romania to develop the Spaces brand under a management agreement that will add a cutting-edge workspace to their building. Our opening in Bucharest comes at a time when more and more companies are discovering that flexible working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs,” stated Mark Dixon, CEO & Founder of International Workplace Group PLC

“We are thrilled to welcome IWG, the largest player in coworking segment in Romania, in Business Garden Bucharest. This new partnership reaffirms the attractiveness of Business Garden Bucharest, the office building LEED Platinum certified with the highest score in Romania, which offers, besides an urban garden and very generous outdoor seating areas, a variety of services available in the immediate neighborhood (shopping mall, food court, hypermarket, fitness & spa). Also, a strong argument for IWG and any new tenant is that we are very aware of the importance of community services for tenants, so developing a work environment that encourages employee returning to the office is a priority for us. We understood that the workspace must be as attractive as possible and provide experiences that employees cannot get if they work from home or a coffee shop, so we regularly organize a variety of activities and events, well appreciated by our tenants,” stated Sorin Macoveiu, Director Comercial Vastint Romania.

One Cotroceni Park will host the new headquarters of HIKVISION

One United Properties announces that HIKVISION, a global leader in video surveillance products and solutions, will open its new offices in the sustainable One Cotroceni Park building. The relocation was facilitated by CBRE Romania. The 1,330 square meter office space will support HIKVISION’s expansion and operational needs, marking an important step in the company’s growth in the Romanian market.

„Welcoming HIKVISION to the One Cotroceni Park community is a testament to our development’s strategic location, its sustainability and the quality of the facilities on the premises”, said Mihai Păduroiu, CEO Office Division One United Properties. “We are dedicated to providing sustainable, cutting-edge office spaces that foster innovation and growth for our tenants, and we look forward to supporting HIKVISION’s operations and success in Romania.”

„We are extremely pleased with the decision to be part of the One Cotroceni community, because we are surrounded by very well-known brands, and we are positioned in a business interest area. Also, the employees are lucky to have at their disposal many places where they can serve a meal or invite a customer for a coffee. We want this collaboration to be long-lasting and full of successes”, highlighted representatives of HIKVISION.

„HIKVISION’s relocation to One Cotroceni Park showcases our commitment to providing tailored real estate solutions that foster growth and innovation”, said Alexandru Orzea, Senior Consultant at CBRE Romania. “This move will allow HIKVISION to streamline their operations and enhance their client engagement through a purpose-built office space designed to meet their specific needs.”

Clifford Chance Badea advised Alpha Bank in the sale of 90,1% of the shares to Unicredit S.p.A.

Clifford Chance Badea advised Alpha Bank Group and Alpha Bank Romania S.A. on all Romanian law aspects of the sale of 90,1% of Alpha Bank Romania S.A. to UniCredit S.p.A, including the structuring of the deal and all the required legal processes.

The transaction has been cleared by the European Commission and was subject to, among others, approval by the National Bank of Romania and FDI clearance in Romania.

Daniel Badea, Clifford Chance Badea Managing Partner, says: “Our office has a long and successful track record of working with both Alpha Bank and Unicredit Bank, two high profile banking institutions that have greatly supported Romania’s economic advancement over the past decades. We are honored to stand by them during such a landmark moment in their history.”

Counsel Loredana Ralea adds: “This was, to some extent, an unprecedented transaction for the Romanian banking industry, due to its complex structure that required several workstreams running in parallel, and their perfect synchronization. Our extensive expertise in financial sector transactions has proven essential at every stage. We are happy to have worked closely and efficiently with all parties involved, so as to carry one of the largest transactions in the Romanian banking industry to a successful closing, within a rather ambitious timeframe considering the scale of the deal.”

MASTERBUILD completes construction of Pitești Shopping Park

MASTERBUILD General Contractor & Developer has completed construction on a new shopping center in Pitești, developed by Square 7 Properties in collaboration with the Belgian investment fund Mitiska REIM. Situated in the northern area of Pitești, the new Pitești Shopping Park offers 24,000 sqm of leasable space.

The project is divided into two main zones: a DIY and construction section and a retail gallery. The DIY and construction section hosts Leroy Merlin’s first store in Pitești, a space of over 9,782 sqm, offering a wide range of products and services for renovation and home improvement projects. The retail gallery covers more than 6,648 sqm and includes notable brands like Tedi, Takko Fashion, Dr. Max, Fressnapf, Sinsay, Xpress, Pepco, and a food court area, with Burger King as the main tenant.

“We are thrilled to collaborate with the professional team at Square 7, who bring valuable retail development experience and share our vision of creating sustainable, high-quality retail spaces that are more than just new shopping destinations. They bring genuine added value to the community and transform into vibrant hubs that integrate seamlessly into city life,” said Ștefan Ferdinand Vayna, CEO of MASTERBUILD General Contractor & Property Developer.

The project investment totals over EUR 19 million.

One United Properties sold long-term leased properties worth EUR 52.4 million

One United Properties sold long-term leased properties, part of its commercial project portfolio, worth EUR 52.4 million in the last 18 months. The total area of these properties is 20,851 square meters GLA and the transactions recorded an average yield of 6.64%.

“The intense activity that our company’s commercial division has carried out in the last year and a half indicates a significant increase in investor interest in income-generating assets,” says Mihai Păduroiu, CEO Office Division One United Properties.

“We sold all the leased assets in the portfolio that were small in size, under EUR 10 million per property, and the demand we found in the market was very robust,” adds Mihai Păduroiu.

Among the properties traded are One Herăstrău Office, the Lidl retail space at One Verdi Park, the One North Gate 2 building, as well as the retail spaces in the One Cotroceni Park and One High District developments intended for the opening of new sports centers with swimming pools operated by WorldClass.

University of Târgu-Mureş acquires mall for transformation into Educational Hub

The “George Emil Palade” University of Medicine, Pharmacy, Sciences and Technology in Târgu-Mureş, which has approximately 11,000 students, is investing in new educational spaces, amid the constant increase in the number of enrollments.

Among its most recent acquisitions is the building that once housed one of the city’s shopping centers. The acquisition of the mall, valued at approximately EUR 10 million, is part of a broader strategy to expand the university’s infrastructure. The mall will house the Faculty of Economics and Law, as well as the Faculty of Sciences and Letters.

“The demand for quality education is growing, and in order to maintain standards and provide adequate conditions for students, this expansion of the infrastructure was necessary,” said prof. univ. dr. Leonard Azamfirei, the university’s rector.

“The mall offered already compartmentalized and suitable spaces to meet our expansion requirements, and the acquisition was economically justified,” he added.

Park Properties has acquired 15,000 sqm plot of land on the shores of Lake Snagov

The Park Properties company has acquired a 15,000 sqm plot of land on the shores of Lake Snagov for a residential development of luxury villas.
The SunLake Snagov project will consist of over 30 luxury villas with a unique interior design, boat parking and a water sports club. The complex will also benefit from a shopping mall with a supermarket that will offer direct access, both by land and by boat, from Lake Snagov, being the first supermarket with water access in Romania. The market value of the project in Snagov is estimated to exceed EUR 20 million.

“SunLake Snagov will be a luxury villa complex that will have a private marina with boat parking, infinity pools, a lakeside promenade, a supermarket with direct boat access, a fitness room and other common facilities for future tenants. Given its position, right on the shore of Lake Snagov, two minutes from DN1 and ten minutes from the A3 highway, the land is located in one of the best positions on the shore of Lake Snagov, both in terms of view – being a sloping land – where all the villas will benefit from a view of the lake, and in terms of access – being one of the most easily accessible on the shore of Lake Snagov from Bucharest. Within the private marina, SunLake Snagov will also benefit from a water sports club with activities such as water skiing, paddle boarding, wakeboarding or monoskiing,” stated Alexandru Mănăilă, Managing Partner and shareholder of the company.

Source: economica.net

Tomah Kahled buys ExpoCenter hotel

Iraqi businessman Tomah Kahled, owner of the Sir shopping complex in Bucharest, bought the former 4-star Best Western Plus ExpoCenter hotel from Libra Internet Bank, and is now preparing the construction of a new hotel in one of Bucharest’s business districts.

The bank sold the hotel to Tomah Kahled for a price of EUR 4.1 million. The Iraqi investor included it in the Sir hotel group and has already reopened it under the name Sir Royal, this being the first 4-star hotel in his portfolio. The 4-star Sir Royal hotel has 39 rooms. Among the hotel’s facilities are 3 conference rooms, each with a capacity of up to 50 people, and 3 other large event rooms, with a capacity of up to 200 people.

At the same time, Tomah Kahled is aiming to build a hotel on a 650 square meter plot of land he owns across the street from the Orhideea shopping center and near the Sir Orhideea hotel, which the investor has in his portfolio. His plan is to build a hotel with a basement, ground floor and 6 floors, with a total area of 2,250 square meters, equivalent to about 60 rooms.

Source: Profit.ro

HILS Development Partners with CIJ Awards Romania 2024

CIJ EUROPE is pleased to announce HILS Development as a partner of the prestigious CIJ Awards Romania 2024, set to take place on December 4th at the Radisson Blu in Bucharest.

HILS Development’s projects are strategically located near metro stations, offering seamless connectivity to commercial, educational, and healthcare networks, and feature nearby amenities such as coffee shops, shopping centers, malls, and pharmacies to meet the needs of each community. With a portfolio of six large-scale projects, HILS Development consistently upholds an efficiency standard, completing 1,000 apartments annually, equivalent to one apartment every two working hours. The company is committed to designing solid, modern apartments with efficient layouts, delivering an exceptional quality-price ratio for its clients.

In 2024, HILS Development surpassed the milestone of 11,000 built and sold apartments. In 2023, they launched two landmark projects: HILS Sunrise—their first project to receive pre-certification from Green Homes for sustainable and eco-friendly features—and HILS Republica, the largest mixed-use urban regeneration initiative in the eastern part of Bucharest.

This year, HILS Development also introduced HILS Titanium, its sixth large-scale residential project, which will consist of seven buildings with a total of 1,194 apartments. This development becomes the first residential project in eastern Bucharest to receive Green Homes pre-certification.

The CIJ Awards Romania 2024 will celebrate outstanding achievements in residential, commercial, and mixed-use developments, bringing together industry leaders to showcase the latest trends and successes in Romanian real estate. For more information about the event, please visit our website: https://awards.cijeurope.com/cij-awards-romania/

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