Cluj County Council announced that its headquarters will be the first green building in Romania

Cluj County Council announces that its headquarters will become the first green public building in Romania and that, thus, the building’s energy consumption will be extremely low, close to zero.

The institution’s future modernized headquarters will comply with BREEAM (Building Research Establishment’s Environmental Assessment Method) standards for green buildings.

“Following the expansion and modernization works, the Cluj County Council headquarters will become the first certified green public building in Romania, with extremely low, close to zero energy consumption. By implementing this project, we are achieving two important objectives: on the one hand, we will benefit from an expanded, environmentally friendly headquarters, and on the other hand, we will bring under the same roof, in a single building, all the departments within the County Council, which currently operate in other spaces in the municipality. This aspect will contribute to the efficiency of the work of employees in all these structures, facilitating even better communication and collaboration,” said the president of the Cluj County Council, Alin Tișe.

The total developed area of the future headquarters of the Cluj County Council will almost double, namely it will increase from 3,552 sqm to about 6,700 sqm, with a ground footprint of about 960 sqm. The total value of the investment is 90,512,725.98 lei, with financing to be provided both from the County Council budget and from other sources. The duration of the works will be 18 months, a term that runs from the date of issuing the order to start the works.

Source: economica.net

Knauf Group builds EUR 75 million factory in Huedin, Cluj

Knauf Group builds a EUR 75 million factory in Huedin, Cluj, after inaugurating the EUR 140 million factory in Târnăveni, Mureş in January. The Germans from Knauf started the production of glass mineral wool in January.

Knauf Group, which includes the companies Knauf Insulation Romania and Knauf Gips, has received a building permit for a EUR 75 million investment in a plasterboard and metal profiles factory located in the town of Huedin in Cluj County. About 100 new jobs would be created.

“The building permit for the Knauf Gips company has been issued, which will be over EUR 75 million, being the largest investment in Cluj County. We are entering a straight line with this major investment that I hope will change the face of our city,” said the mayor of Huedin, Mircea Moroşan.

One United Properties reports turnover of RON 1.4 billion in 2024

One United Properties reported a turnover of RON 1.4 billion for 2024, down 7% compared to the previous year, and a net profit of RON 381 million, down 15% year-on-year.

Revenues from the residential segment amounted to RON 1.1 billion, registering a decrease of 2% compared to the previous year, as more and more projects moved into the later phases of construction, where revenues are gradually recognized.

In parallel, net income from residential properties increased by 6% compared to the previous year, reaching RON 324.1 million, reflecting higher sales margins, as developments advance and sales prices increase, which translated into a higher net margin on residential sales – from 26.9% in 2023 to 29.2% in 2024.
In the period January-December 2024, rental income, which includes both commercial income and tenant services, increased by 18% compared to the previous year, reaching RON 151.4 million.

Net rental income increased by 25% compared to the previous year, reaching RON 102.9 million, reflecting a higher occupancy rate and strong demand from tenants.
In 2025, One United Properties estimates the delivery of 2,300 units, making this the most ambitious year of deliveries in the company’s history.

SVN Romania opens new office in Pipera

Real estate consultant SVN Romania opened an office in Pipera, which will provide non-exclusive consultancy and brokerage services of residential projects located in the area and representation for buyers and sellers active on the secondary market.

The new office’s activity will be coordinated by Razvan Crainiceanu, a consultant with an experience of over 16 years on the new and secondary residential segments. The management team also includes Gabriel Voicu, Victor Vremera and Mircea Marin, consultants which in their careers advised the development and sale of dozens of new residential projects, totalling over 15,000 completed homes.

”Pipera is going through a real estate development boom, being the most important residential hub in the northern area of Bucharest. Dozens of residential projects were delivered in the are in the last decade and many homes are re-entering the market, thus creating a solid portfolio of units. In addition, we are already the consultant for several new residential projects located in the area, including First Estates Pipera, the first residential project in Romania which offers free heating, and Noura Residence, developed by football player Florin Tanase. The area will continue to attract new residential developments, considering that Ilfov Country surpassed Bucharest in terms of construction permits issued for residential buildings,” said Razvan Crainiceanu, managing partner SVN Romania | Pipera.

Over 3,000 homes are currently under construction in Pipera area according to SVN’s data, this being the most important development hub in the northern part of Bucharest. Pipera is followed by Fabrica de Glucoza, Aviatiei, Sisesti and Straulesti in terms of the number of new residential units under construction.

Permits for almost 980,000 usable square meters were issued for construction in residential buildings in 2024 in Ilfov, according to the National Institute for Statistics, compared to about 855,000 usable square meters authorized in Bucharest, volumes that also include reauthorizations. 2024 was the second consecutive year in which Bucharest was surpassed by Ilfov from this point of view, a situation that had not been recorded since 2016.

Almost 169,000 residential units were sold in 2024 in Romania, up 6.6% compared to 2023, while the number of homes sales registered in Bucharest and Ilfov, the largest regional residential market in the country, surpassed 60,000 units, up 7.6% compared to 2023, according to the data of the National Agency of Cadastre and Land Registration.

Solida Capital announces first transaction in Romania

Solida Capital, a leading investment and asset management firm, announces the successful completion of its first office transaction in Romania. This transaction marks a significant milestone for the firm as it enters the Romanian market, with the deal representing Solida Capital’s inaugural investment in the region. This development is part of the company’s strategic expansion into the Central and Eastern European (CEE) market.

The transaction involves the acquisition of Victoria Center previously owned by Manova Partners (formerly Macquarie), an internationally active independent real estate investment company. The prime asset is located on Calea Victoriei, one of the most high end and affluent streets in Bucharest. The office building, Victoria Center, comprises a total Gross Leasable Area (GLA) of 8,600 square meters, distributed across 10 floors including Retail Area in the Ground Floor and a number of 92 parking spaces.

Manova Partners acquired the asset in 2015 for one of its multi-investor funds and was able to fully execute the original ten-year business plan. During this time, the asset has been consistently well-let to a number of high-profile occupiers, many in the premises since the building’s delivery in 2010.
The involved parties have agreed not to disclose the purchase price.

The transaction, finalized in early 2025, underscores Solida Capital’s continued commitment to identifying and capitalizing on high-value opportunities in dynamic real estate markets. This expansion into Romania is a key element of the firm’s broader growth strategy in Central and Eastern Europe, a region that continues to demonstrate considerable economic potential and investment prospects.

Commenting on the milestone, Jean Aboumrad, Founding Partner of Solida Capital, stated:
“The completion of our first transaction in Bucharest represents an important step in the expansion of Solida Capital’s portfolio and our strategic presence in Central and Eastern Europe. We are confident that this market holds substantial opportunities for growth, and we are committed to further strengthening our footprint in the region while also creating significant value for our investors.”

This transaction not only marks Solida Capital’s entry into Romania but also sets the stage for further investments in the CEE region, a strategic area for the firm’s long-term growth. Through this move, Solida Capital aims to contribute to the ongoing development of the regional real estate market.

“While our second exit in this market once again highlights available liquidity for high-quality assets in Romania, we also remain committed to Bucharest, where we still hold CDG Plaza, a landmark office building, and continue to look for attractive opportunities”, says Florian Winkle, Co-CEO at Manova Partners.

The buyer was advised by Kinstellar as the Lead Legal Counsel, Colliers in a Commercial advisory capacity, Ernst & Young for Financial and Tax matters, and SC Optim Project Management for Technical support. The seller was advised for the transaction by Peli Partners as the Lead Legal Counsel, iO in commercial advisory capacity, CMS for Tax & Financial matters and Sentient for Technical support.

New villa complex planned in Snagov by Iraqi-Origin Investors

A new villa complex is set to be developed on the outskirts of Snagov forest by Turkish citizens of Iraqi origin, Sabah and Mahmut Bacgeroglu, in collaboration with Rizgar Shikhil, a Swedish citizen of Iraqi origin and president of the Romanian-Iraqi Businessmen Association.

The project, located on a nearly 2-hectare plot in the village of Ciofliceni, Snagov commune, involves a Zonal Urban Plan that allows for the construction of villas featuring a ground floor, first floor, and attic. The development will comprise 28 villas with a total built-up area of 19,748 square meters.

In addition to the Snagov villa project, Sabah and Mahmut Bacgeroglu are advancing another real estate development in Bucharest near Baneasa Forest. This luxury apartment complex, named Northberi Apartments, will consist of two buildings featuring 92 high-end apartments and 184 parking spaces.

Rizgar Shikhil has been active in the Romanian real estate market since 2018. He made a notable investment in the hospitality sector by opening the 4-star Athina Suites hotel on Mihai Eminescu Street in Bucharest. The hotel, which includes 43 rooms, represents an estimated investment of EUR 12 million.

The villa complex in Snagov is expected to attract interest due to its proximity to nature while offering modern residential amenities. The involvement of experienced investors suggests confidence in the Romanian real estate market and its potential for high-end residential developments.

Source: Profit.ro

Funky Buddha opens two stores in Romania

The Greek company Altex S.A. makes its debut on the Romanian market and opens its first Funky Buddha fashion store in Bucharest, in the ParkLake shopping center. In this context, the company has started the recruitment process for the sales team.

“We have started the procedure to establish a subsidiary in Romania, and in 2025 our first corporate store will start operating in this country. In addition, we planned to open another one during the current year in this market. At the same time, we are in discussions with Fourlis Group to create Funky Buddha corners in some of the Intersport stores operating in this country. We already maintain a presence through our Romanian partner with a corner within an existing store in Băneasa Shopping City,” said Konstantinos Alexiou, member of the board of directors and CFO of the company.

The company currently has 66 stores, corporate and franchise, in Greece and Cyprus. To these will be added the two new stores that will open during 2025 in Romania, while another four are scheduled to open in Greece.

Giorgică Baicu builds residential complex and hotel near Berceni Arena

Businessman Giorgică Baicu, who has developed thousands of apartments under the Corvaris and Venus brands so far, is starting work on his new residential project, located behind the Berceni Arena ice rink, near the Apărătorii Patriei metro station.

A company owned by Giorgică Baicu has purchased a plot of land with an area of about 1.4 hectares from the construction company Conexir Roell. On this land, Baicu is now starting the construction of a residential project, which will include 5 blocks with 420 apartments and a 4-star hotel with 100-110 rooms, swimming pool, SPA and conference rooms. The complex will benefit from 592 parking spaces on the ground and in the basement of the buildings. On the ground floor and mezzanine, commercial and office spaces with a cumulative area of approximately 6,500 square meters will be arranged. The project will be called Venus Arena.

The investment in this project will be about EUR 30 million. Sud Rezidențial is the exclusive sales agent of the project.

Source: Profit.ro

Duna Aszfalt Zrt buys construction company Euro Strada SRL from Brașov

Hungarian company Duna Aszfalt Zrt will acquire Brașov-based Euro Strada SRL, which specializes in road and bridge construction. The value of the transaction is not public. Duna Aszfalt is one of the largest family-owned construction companies in Central Europe.

Euro Strada SRL had 102 employees in 2023. The transaction serves to increase Duna Group’s international presence, consolidate its role in the construction industry, and achieve the status of a medium-sized regional enterprise with Hungarian capital.

Duna Aszfalt bought one of the largest Polish road construction companies, Mota-Engil Central Europe (MECE), last year. Duna Aszfalt is controlled by businessman László Szijj.

Source: Profit.ro

Sembraz Sibiu sells land and buildings for €4.5 Million

Sibiu-based company Sembraz has sold a 21,000-square-meter plot of land, along with the buildings on it, for €4.5 million. The site, which had an approved Urban Development Plan (PUD) for a hypermarket construction, was sold following approval by the Sibiu Local Council in 2023.

The sale agreement was finalized on February 20, 2025, with the payment to be made according to the contractual terms. On the same day, Sembraz also signed a €700,000 development contract, plus VAT, for the preparation and release of the land.

Sembraz is majority-owned by Transilvania Investments Alliance (formerly SIF Transilvania), which holds a 90.9% stake, while the remaining shares are owned by individuals and legal entities. Founded in 1991, the company was previously engaged in the production of agricultural machinery, spare parts, metal products, and containers.

Source: economica.net

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