Titan Heavy Machinery Factory in Bucharest’s sector 3 listed for sale

The Titan Heavy Machinery Factory in Sector 3 of the Capital, established 54 years ago, has been put up for sale. CITR and Trust Insolvency are handling the company’s insolvency, and interested parties can submit offers. The sale price was not made public.

The industrial platform has potential for residential, commercial or mixed development.

The land has a total area of 47,300 sqm, the halls have a built-up area of 38,900 sqm, as well as a five-story administrative building, with an area of 2,700 sqm, renovated in 2009. The land and buildings are located on Basarabiei Boulevard 250, in close proximity to Kaufland and Lidl stores.

Source: economica.net

Virgil Lixandru obtained new authorization for an aparthotel

Businessman Virgil Lixandru received a new building permit for the construction of an aparthotel in Mamaia resort.

Constanta City Hall issued a Building Permit for the construction of a D+P+8E building with the function of apartment hotel, with 70 units. The site is located at 523C Mamaia Boulevard. The document is valid for two years.

The businessman also wants to build a six-storey block in Palazu Mare, as in the Constanta train station area. Then, in the Hotel Dorna area, he plans to build a twelve-storey apartment block or aparthotel. Through Euro Vial Residence SRL, Lixandru obtained in early January this year the environmental permit for the construction of a cherhanale in Mamaia Nord.

EVO Properties Partners with CIJ Awards Romania 2024

CIJ EUROPE is proud to announce that EVO Properties will be a partner of the prestigious CIJ Awards Romania 2024, set to take place on December 4th at the Radisson Blu in Bucharest.

EVO Properties is a forward-thinking developer, committed to building interconnected communities. Our vision is to create multi-purpose hubs, fostering vibrant ecosystems where people can thrive. We aim to redefine urban development by creating more than just office buildings.

The new London & Oslo multifunctional hub is the first major repurposing of an existing Class A office buildings in Bucharest. London & Oslo are evolving into a dynamic space, blending office space, hospitality, sports & wellness facilities and cultural events areas. By the end of 2025, we are welcoming a 4* business hotel, a lobby café, a panoramic full-floor gym, medical services and an operational theatre in London and Oslo buildings, setting new standards for sustainable and inspiring urban workplace communities.

Beyond the physical spaces, through thoughtful design, engaging events, and a focus on well-being, EVO Properties is dedicated to building strong communities.

The CIJ Awards Romania 2024 will recognize outstanding achievements across various categories, including residential, commercial, and mixed-use developments. This high-profile event will bring together leading professionals and highlight the latest trends and successes in the Romanian real estate market. For more details about the event, please check out our website: https://awards.cijeurope.com/cij-awards-romania/#about

Griffes records landmark year in 2024

The real estate advisory firm, Griffes, reports an outstanding performance in the first three quarters of 2024, marking a record year for the company, especially in the office leasing sector.

Griffes team advised on a total of over 70,000 sqm office space transactions this year, spread 80% in Bucharest and 20% in the geography of regional cities mostly Cluj-Napoca, renowned as “the technology and IT capital” of the country. Griffes’ portfolio covers both new leases (36%) and contract renewals (64%), providing support for companies setting up new offices or consolidating their business, and constant guidance for businesses seeking to secure their premises and the financial stability in their renewal efforts.

So far, the total value of all office leasing deals signed by Griffes in 2024 is exceeding the EUR 65 mln. threshold, bolstered up by the long-term strategy of the occupiers who secured premises, (weighted average), for 6.8 years.

The renewal of Genpact’s 30,000 sqm lease at Hermes Business Campus in Bucharest is particularly noteworthy. This is the largest office deal in Romania for the past decade and reflects the continuity and the confidence of multinational companies in Romania’s business environment.

Currently, the average office lease transaction in Bucharest stands around 1,350 sqm, while in Cluj-Napoca it averages approximately 1,800 sqm.

“2024 has been a truly transformative year for Griffes, showcasing the strength of our long-term partnerships with landlords and our ability to adapt to the evolving needs of the tenants. We have been relentless in searching for balance in between a very granular demand and a higher risk environment (supply wise), so we became hypercreative to craft solutions. Over half of our work is with tenants that already work with us the 2nd or 3rd time, which is fantastic for a team only several years old, and most of the lease duration we signed are for more than 6 years, firm and robust. In a market where word of the day is ”volatility, this is what I call true extra value and high performance,” stated Andreea Paun, Founder and Managing Partner at Griffes.

Logicor doubles Romanian logistics portfolio with new EUR 25 million investment

Logicor, a logistics developer owned by sovereign wealth fund China Investment Corporation and Blackstone, has completed an investment of approximately EUR 25 million in the logistics park Logicor Bucharest III Pallady. With this new delivery, the developer’s portfolio has doubled in three years, reaching 330,000 sqm of leasable space, and future plans focus on developments around Bucharest.

The developer has completed the network’s newest logistics park, in the Pallady area of the capital, near the Anghel Saligny metro station. The project has two buildings with a total of 41,000 sqm.

The first building in the new project is 100% leased, and the second building is 65%. But, according to the company official, contracts will also be signed for the remaining free space in the next three months.

The tenants of Logicor’s new logistics park are Cărturești, Banca de Alimente, MKS, Editura Trei, Homplex and Vel Pitar.

Source:economica.net

North Bucharest Investment Partners with CIJ Awards Romania 2024

CIJ EUROPE is proud to announce that North Bucharest Investments will be a partner of the prestigious CIJ Awards Romania 2024, set to take place on December 4th at the Radisson Blu in Bucharest.

North Bucharest Investments (NBI) is a dynamic player in the real estate market, specializing in high-end residential properties. With its commitment to quality and strategic growth, NBI recorded sales that highlighting its ability to adapt to market demands and deliver consistent value to its clients.

North Bucharest Investments (NBI) was able to close a total of 877 transactions in the first 9 months of 2024, more than double the full year of 2023, and registered 400 real estate transactions in new residential compounds in the Northern area of the capital.

The company added 21 new residential developments in the first half of 2024, bringing its portfolio to 149 residential complexes, including 62 large-scale projects, concentrated in the sought-after northern areas of Bucharest.

North Bucharest Investments achieved transactions worth €137 million in the first nine months of 2024 while the number of employees and consultants has also grown in proportion to the business, from 41 in 2023 to 121 this year.

Kiddo Entertainment Group to open new unit in IULIUS’ RIVUS development

RIVUS Cluj-Napoca, the project by companies IULIUS and Atterbury Europe, will integrate the most complex entertainment center in Romania, implemented by the Kiddo Group. The novel concept will introduce Cluj-Napoca to premiering experiences that train your body and mind, dedicated to children and adults alike.

The format will include a wide range of attractions, such as a trampoline park, escalade areas, obstacle courses and hanging adventure trails, along with gaming arcades and toboggan labyrinths. There will also be a special area dedicated to parties and a space designed for immersive experiences, including virtual reality. This diversified approach aims to provide a variety of entertainment activities for children, teenagers, and adults, transforming these spaces into the ideal venue for adventure and fun based in Cluj-Napoca.

“We are bringing a large-scale entertainment format to Cluj-Napoca, one that caters to our young public’s demand for experiences and entertainment. The concept will be customized for Cluj-Napoca, spanning on approximately 1,800 square meters, and will offer the latest leisure options, in formats that combine sports and technology. Hype by Kiddo will include an extensive mix of attractions – immersive simulators, trampolines, obstacle courses. We have identified this expectation of our public regarding new entertainment formats in the online survey we conducted when the idea for the new mixed-use project came to be and we are glad that we can now announce our public that we will deliver on what we set out to do, as we already partnered with Kiddo Group. Shopping centers are evolving toward formats that create new shopping and entertainment experiences by integrating technology and redesigning physical space, and RIVUS is implementing this direction, being a unique lifestyle center for Romania, a destination-venue for the entire region and even on a nationwide scale,” said Oana Diaconescu, Head of Leasing Manager IULIUS.

Nokian Tyres wants to build its own photovoltaic park for the Oradea factory

The Nokian Tyres factory in Oradea, the world’s first zero-CO2 unit for the production of car tires, intends to build a photovoltaic park for its own energy consumption, and invites specialized companies to submit their offers.

The construction of the photovoltaic park involves design, supply, execution of works, assembly and commissioning. The estimated value of the work is RON 4,658,421.52 lei (excluding VAT), the contract execution term being a maximum of 4.5 months from the signing of the contract.

Nokian Tyres began construction works at the new factory in Oradea in May 2023 and were completed in September 2024. The total investment in the factory is estimated at approximately EUR 650 million, which places it among the most important projects developed in Romania in recent years. The premises also house a logistics unit for storing and distributing tires.

Cluj residents take out the largest mortgage loans

Imobiliare.ro Finance, the loan broker within the Imobiliare.ro group, conducted an internal analysis to determine the behavior of Romanians who requested financing this year in the counties with the strongest residential markets in the country.

According to the analysis, Cluj residents access the highest value mortgage loans, have the highest rates, but also pay the highest prices to make a real estate purchase. At the opposite end are Constanța residents who take out low-value loans and benefit from some of the most affordable apartment prices.

The research results also indicate that most Romanians seek specialized advice early on to ensure that when they find the right home they can buy it quickly. Reducing the time it takes to get a mortgage is more important than ever in a context where prices are constantly increasing and the number of available properties is decreasing.

The average age at which Romanians take out their first bank loan has increased slightly, reaching 35.09 years in December 2023 and the median age at 34.08 years, according to data from the National Bank.

PPC Renewables begins construction on Romania’s largest wind farm in Vaslui County

PPC Renewables Romania, previously known as Enel Green Power Romania, has officially launched construction on the Deleni wind farm in Vaslui County. Once operational, this facility will become the largest renewable energy plant in the Moldova region, boasting a significant installed capacity of 140 MW.

“This project marks our second wind farm beyond the Dobrogea region, where most of Romania’s wind energy has been generated until now,” said Adrian Dugulan, CEO of PPC Renewables Romania. “The wind potential here in Vaslui is substantial, and expanding geographically will support Romania’s energy diversification goals and strengthen power generation capacity in the north of the country. We are proud to contribute to Romania’s clean energy landscape, which we believe will boost the country’s economic competitiveness and benefit local communities.”

The Deleni wind farm is expected to be connected to the national grid by late 2025, furthering Romania’s commitment to renewable energy expansion.

Source: Profit.ro

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