Bog’Art is publishing its first Sustainability Report

Bog’Art, one of Romania’s most important and recognized construction companies, is reinforcing its commitment to a sustainable future by publishing its first Sustainability Report. This milestone for a privately held local company marks an innovative initiative that aligns Bog’Art with international sustainability and social responsibility standards, which will become mandatory reporting requirements starting in 2024, in line with European Union legislation.

Bog’Art boasts a portfolio of over 650 completed projects, totaling more than 3 million square meters, with a contracted value of approximately EUR 2 billion over more than 30 years of activity.

Bog’Art’s Sustainability Report addresses the ESG (Environmental, Social, Governance) pillars, offering a transparent view of the company’s achievements, challenges, and aspirations on key issues such as economic resilience, environmental protection, and social responsibility.

In collaboration with BuildGreen consultants, Bog’Art developed its own questionnaire to evaluate the level of sustainability practices implemented across its sites nationwide, using the industry’s best practices as benchmarks. Its proprietary site assessment system ensures traceability and identifies deviations from the highest international standards, adopting the Considerate Constructors Scheme model from the UK.

The methodology aligns with GRI reporting standards (https://www.globalreporting.org/standards/), while the company’s objectives follow the United Nations’ Sustainable Development Goals (https://sdgs.un.org/goals). This provides a robust and well-founded base for Bog’Art’s future sustainability efforts, supporting its ambitious goals to minimize environmental impact.

“We are aware of the responsibility we have towards the environment, the economy, and the community in which we operate as sustainable builders. Our commitment to strong corporate governance, reducing environmental impact, and respecting the people who work alongside us are essential pillars for generating positive and lasting change in the local construction industry. We are confident that our ongoing efforts to improve best practices, both on-site and in our offices, are faithfully reflected in the perspectives of Bog’Art’s first Sustainability Report,” stated Bogdan Doicescu, Group CEO of Bog’Art Holding Management.

The full report is available at https://www.bogart.ro/sustainability-csr/.

ROCA Industry fully acquires Workshop Doors

ROCA Industry, the industrial holding for construction materials majority-owned by private equity firm ROCA Investments, announces the full acquisition of Workshop Doors through the purchase of an additional 30% stake in the company’s share capital. The company entered ROCA Industry’s portfolio in February 2024 with the acquisition of the initial 70% stake.

Workshop Doors is the second largest manufacturer in the interior door market in the region, with two production facilities in Reghin and Petelea. It is ROCA Industry’s second investment in this market, the first being ECO EURO DOORS, the largest Romanian manufacturer of doors for residential construction, fully acquired by ROCA Industry in 2022.

In the coming period, ROCA Industry intends to merge the two companies and launch a single new local brand with international validity, thus creating a strong player in the Romanian interior door market, with the aim to transform it into a regional leader.

“We aim to transform successful Romanian brands into regional champions and consolidate the market, and the holding model under which we operate provides stability to our companies in the face of industry fluctuations. For this segment, we are dealing with a highly granularized market of local producers, dominated by low-quality exports. From the top two players in the Romanian residential construction doors market, ROCA Industry will create a single strong, visible company with regional potential. The full acquisition of Workshop Doors’ share capital brings us one step closer to this goal. We are already reporting very good results due to the synergies between the two companies, and we estimate that the merger will significantly accelerate the growth process,” states Ionuț Bindea, CEO of ROCA Industry.

Pavăl brothers acquire land in Giurgiu county for EUR 2.95 million

Entrepreneurs Dragoș and Adrian Pavăl, the owners of the Dedeman chain, have made a significant land acquisition in Giurgiu County. The brothers purchased a plot of land measuring approximately 59,000 square meters from former diplomat Ion Maticiuc and millionaire Pâris Mouratoglou. Located at 30 Unirii Street in Giurgiu municipality, the land was sold for EUR 2.95 million.

The seller, Metropolis & Partenaires, had been promoting a shopping center project for this plot since last year. With the Pavăl brothers now owning the land, the acquisition is seen as a potential move towards establishing Dedeman’s presence in Giurgiu County, where the retailer currently has no stores.

Dedeman, Romania’s leading DIY retailer, operates 62 stores across the country, with the exception of Teleorman and Giurgiu counties. This recent purchase could signal the company’s next expansion into the Giurgiu market.

In 2023, Dedeman inaugurated only two new stores—one in Craiova, near Promenada Mall, and another in Petroșani. The DIY chain also operates five logistics centers, its own fleet of vehicles, and employs over 13,000 people nationwide.

SPEEDWELL begins construction on third building of TRIAMA Residence project

Speedwell has started construction works for the third, and last building of the TRIAMA Residence project. The budget allocated to the development amounts to EUR 9 million.

Located close to the center of the Capital, Triama Residence offers a total of 195 apartments with generous spaces, various layouts, and premium finishes, disposed in three residential buildings with a contemporary design. Following on the success of the first two phases completed and sold during 2021-2023 period featuring a total of 134 apartments with areas ranging from 53 and 70 square meters, Triama Residence continues to refine the standard of modern living with the development of the latest building, part of Phase III of the project.

In September, SPEEDWELL broke ground on the third building in the development, which will deliver the last 61 units of the ensemble, ranging from 54 and 105 square meters, with 34 units having found their owners so far. The building will have a total built area of approximately 5.400 square meters and will feature contemporary 2, 3 and 4-bedroom apartments, tailored to the diverse needs of future owners.

“We couldn’t be more excited to see this project already taking shape with 56% of units sold, even though construction has just begun! This strong early response isn’t just a testament to market resilience, but also to the appeal of a community-focused, sustainable lifestyle. TRIAMA Residence isn’t just about building homes; it’s about creating an environment where people can thrive while making a positive impact. With the addition of solar panels and nZEB-standard energy efficiency, this next building is designed to not only lower costs but also reduce the carbon footprint. We believe in delivering more than just properties; we’re shaping communities that reflect our commitment to a greener, more connected future,” says Jan Demeyere, architect and Co-founder of Speedwell

In addition to its spacious apartments, TRIAMA Residence offers amenities such as commercial spaces on the ground floor, 193 parking spaces, a playground, and large green areas.

Wolt takes over Tazz delivery platforms, part of the eMAG group

Tazz, one of the most important delivery platforms in Romania, part of the eMAG group, announces the conclusion of an agreement regarding the acquisition of its social parts by Wolt, a local commerce platform of Finnish origin with operations in 28 countries.

The transaction is expected to be completed in the coming months. With a team of more than 12,000 people, Wolt is owned by DoorDash in the United States of America.

Tazz operates in over 35 cities in Romania and has a dedicated team of 260 people. In recent years, the platform has grown to offer a strong selection of restaurants, supermarket and retail partners, and local merchants.

Hexing Europe opened the smart metering factory in Timisoara

Hexing Europe inaugurated the new smart metering factory in Timisoara. The new facility of Hexing Technologies Europe SRL, a subsidiary of Hexing Group and Timisoara Airport Park, will serve as an innovation center, expanding the footprint of Hexing’s digital energy services across Europe. The new production facility, located on the former site of the Elster Honeywell group, represents a major step in strengthening Hexing’s presence in Europe.

The investment in the project is approximately RON 15 million, a large part of which is state aid. The number of employees reached 54, but it is continuously increasing, and will exceed 120 next year.

Hexing Europe is part of the Hexing Group, one of the largest providers of smart metering and energy management solutions globally. The new factory in Timișoara will strengthen the energy transition through digitalization.

One United Properties considering potential sale of One Tower and One Victoriei Plaza

One United Properties is testing the market to sell two office buildings from its portfolio – One Tower, the first large office building built by the company founded by Victor Căpitanu and Andrei Diaconescu, and One Victoriei.

One Tower has a leasable area of 24,000 sqm and is fully leased. One Victoria Plaza, purchased in 2022, has 12,000 square meters and is also fully leased to First Bank.

On June 31, 2024, One Tower was valued by One United, according to the company’s semiannual report, at approximately EUR 84.4 million. One Victoriei Plaza is valued at approximately EUR 27.7 million, according to the same report. Thus, the sale of the two would generate revenues of EUR 112 million.

Final List of Nominees for the 17th CIJ Awards Gala Romania – Developments & Transactions Categories

CIJ EUROPE is excited to announce the final list of nominees for the 17th edition of the CIJ Awards Gala Romania, which will take place on December 4th, 2024, at the Radisson Blu Hotel in Bucharest.

Please find below a comprehensive list of the top projects, transactions, and companies recognized for their achievements in 2024.

If you have not yet secured your seat, please check our website for registration: https://awards.cijeurope.com/cij-awards-romania/#about. Please note that space is limited to 350 attendees, so we encourage you to reserve your seat as soon as possible.

A BIG THANK YOU to all CIJ Awards Gala Romania 2024 confirmed Partners: North Bucharest Investment, CPI Property Group, AFI Europe, Hagag Development Europe, NEPI Rockcastle, VASTINT, CTP, NUSCO, BMF Grup, WIREN, Globalworth, Global Vision, Speedwell, Lion’s Head, HILS Development, NHOOD, COS, Biris Goran, Coral Construct, Bog’Art, Alesonor, WeMat Global, Carbon Tool, Fortim Trusted Advisors, Ceresit, Theta Furniture & More, Optim Project Management, SAMSUNG Climate Solutions, Omifa, TPA Romania, RENOMIA Gallagher, Search Ads, Redport, Imobiliare.ro, Marazzi, Safety Approach, Avitech, Bellemonde, Fabrica de Profile, EVO Properties, STC Partners, Reynaers Aluminium, Serban & Musneci Associates.

Best Office Development of the Year
AFI Loft – AFI Europe
Autonom Headquarter, Piatra-Neamț – Autonom

Office Refurbishment of the Year
Corner Office Building – Global Vision

Best Office Buildup In Development
Timpuri Noi Square, Phase 2 – Vastint Romania
ARC Office Building – PPF Real Estate
U•Center 3 – Forte Partners
Yunity Park – Genesis Property

Best Retail Development & Developer of the Year
Arges Mall (51,400 sqm) – Prime Kapital
Aurora Retail Park Giurgiu (13,500 sqm) – Cometex
Retail Park Hunedoara (5,000 sqm) – Cometex
Shopping Park Pitesti (22,500 sqm) – Square 7 & Mitiska REIM
Shopping City Ploiesti – (7,400 sqm extension) – NEPI Rockcastle

Best Warehouse Development & Developer of the Year
CTPark Buc West – LPP (65,000 sqm) – CTP
VGP Park Brasov, Inter Cars (53,000 sqm) – VGP Romania
VGP Park Timisoara, Building 8 (32,768 sqm) – VGP Romania

Best Warehouse Buildup in Development
CTPark Brasov – CTP
CTPark Bucharest West, BUW 24 (66,000 sqm expansion) – CTP
WDP Park Baia Mare – Cicarlau, Maravet (part of Covetrus) – 11,000 sqm – WDP
VLParks Bucharest – Unit A1 & Unit A2 – Villar Logistic Parks

Best Standard Residential Development of the Year
Atria Urban Resort – Straulesti Lac Alfa
First Estates – Alsin
GranVia Lakeview – Granvia
HILS Palady – HILS Development
Select Residence – Anchor Grup
Vulcan Residence – NEPI Rockcastle

Best Premium Residential Development of the Year
Arcadia Park View – DVD Residential Imobiliare S.R.L.
Nobis Gardens – SVN Romania
Nusco City – Nusco
Nusco Green Homes – Nusco
PALTIM, phase 1 – Speedwell
Prima Vista, phase 1 – Prima Development Group
Quartier Azuga I – STC Partners
The Level Apartments II – Redport

Best Residential Developer of the Year
AFI Europe
Anchor Grup
EDEN Capital Development
Hagag Development Europe
HILS Development
NEPI Rockcastle
Nusco
Prime Kapital
Redport
Speedwell
STC Partners

Best Residential Buildup In Development
AFI Home North – AFI Europe
Avalon Estate – Prime Kapital
Bellemonde – Bellemonde Development SRL
Corallis Lifestyle by The Lake – KESZ
Cortina Elysium – EDEN Capital Development
H East Residence – Hagag Development Europe
HILS Brauner – HILS Development
Nusco City – Nusco
Quartier Azuga II – STC Partners
Quartier Ferdinand – STC Partners
PALTIM phase 2 – Speedwell
Prima Vista phase 2 – Prima Development Group
Silk District – Prime Kapital
The Ivy – Speedwell
The Level Apartments III – Redport
The Meadows – Speedwell
U•Center 3 – Forte Partners

Best Commercial Design FIT-OUT (Project) of the Year
Alive Capital Office – Omifa
Astra Zeneca – Prographic
Banca Transilvania, Green Court – BL Associates
Beiersdorf Offices – Prographic
Booking – Prographic
British American Tobaco (Cladire BBP Miorita) – Theta Furniture & More
BT MIC U Center – BL Associates
Coca Cola HQ @ Globalworth Campus B / Floors 4 & 12 – WEMAT Global
DAAR Shops (TEILOR Group, Mall: Plaza Romania, Afi Palace, Sun Plaza, Park Lake) – Theta Furniture & More
European Pastry Offices – WEMAT Global
Francu Office Building – Omifa
Global Vision (The Corner Building) – Theta Furniture & More
Globant Cluj – COS
Hafele Design Space – AMA Design
Pfizer Bucharest – COS
Shopping City @ Timisoara / Foodcourt – WEMAT Global
Siemens – Prographic
Tesla Showroom and Service @ Bucharest – WEMAT Global
Trick-Shot Restaurant (AFI PALACE COTROCENI) – Theta Furniture & More
UiPath Romania – Workspace Studio

Best Leading Green Development & Developer of the Year
Amber Forest – Alesonor
Business Garden Bucharest & Timpuri Noi Square – Vastint Romania
Clubhaus – CTP
First Estates – Alsin
HILS Sunrise – HILS Development
Quartier Azuga – STC Partners
Shopping Centers portfolio – NEPI Rockcastle
Yunity Park – Genesis Property

Best Investment Transaction of the Year
AFI Europe Romania – Bucharest Financial Plaza – Immofinanz (EUR 27 million)
BT Property – Funshop Park Turda – Scallier
CTP – logistics parks – Globalworth
M Core – Mitiska 25 retail parks portfolio – Mitiska REIM (EUR 219 million)
North Bucharest Investments – residential packages – Several Developers (EUR 60 million)
Vectr Holdings – The Landmark – Revetas Capital and Cerberus Capital Management
WDP – Expo Market Doraly (110,000 sqm) – ARA Europe (EUR 90 million)
WDP – logistic parks – Global Vision (EUR 110 million)

Best Land Transaction of the Year
Euro Vial Residence – 6 ha (Constanta) – Westhouse Group
HILS Development – 12 ha (Preciziei) – Roca
Logicor – 4,6 ha (Theodor Pallady area) – Jumbo
NewCold – 9 ha (Northern Bucharest, A0 ring road) – WDP
Paval Holding – 12 h (Pipera area) – Suzan Taher

Best Office Lease of the Year
BRD, Sucursala Regionala – 2,100 sqm – Palas Iasi
Copeland – 1,550 sqm – United Business Center Cluj-Napoca
DB Tech – 7,000 sqm – Globalworth BOB
Dr. Max – 6,200 sqm – J8 Office Building
Pragmatic Play – 12,200 sqm – AFI Tech Park 2
Regina Maria – 1,700 sqm – Baneasa Airport Tower
The Home – 3,070 sqm – myhive Victoria Park
TMF Group – 1,700 sqm – America House

Best Office Renewal of the Year
Accenture – 6,200 sqm – West Gate Park
BNP Paribas – 6,200 sqm – Oregon Park
Genpact – 29,104 sqm – Hermes Business Campus
HP Inc. Romania – 7,000 sqm – Yunity Park

Best Retail Lease of the Year
Budmil – 130 sqm – Plaza M Targu Mures (new market entries from Hungary in a regional city)
Half Price – 1,725 sqm – AFI Brasov
Half Price – 2,000 sqm – AFI Ploiesti
Half Price – 2,100 sqm – Plaza Mall Targu Mures
Happy Restaurant – 544 sqm – AFI Cotroceni
Hype Arena – 2,400 sqm – Sun Plaza
JD Sports – 370 sqm – AFI Ploiesti
Jysk – 1,250 sqm – Vitantis Shopping Center
Kinetic Sport & Medicine – 660 sqm – Palas Campus Iasi
Lefties – 5,000 sqm – Iulius Town Timisoara
Popeyes – 137 sqm – AFI Ploiesti
Primark – 5,000 sqm – VIVO! Cluj-Napoca
Primark – 3,799 sqm – Iulius Town Timisoara
Rituals – 201 sqm – Mega Mall (first store in Romania)
Sciccheria, Steam, Velocita & French Revolution – 375 sqm – Arghezi 4
Stay Fit Gym – 840 sqm – Family Market Miroslava

Best Warehouse Lease of the Year
Deichmann – 20,000 sqm – Eli Park 3.3
LPP – 24,000 sqm – CTPark Bucharest West
Mediapost Hit Mail – 19,000 sqm – Chitila Logistics Hub
VAT – 20,900 sqm – VGP Park Arad

Final List of Nominees for the 17th Annual CIJ Awards Gala Romania – Service Providers Categories

CIJ EUROPE is excited to announce the final list of nominees for the 17th edition of the CIJ Awards Gala Romania, which will take place on December 4th, 2024, at the Radisson Blu Hotel in Bucharest.

Please find below a comprehensive list of the top projects, transactions, and companies recognized for their achievements in 2024.

A BIG THANK YOU to all CIJ Awards Gala Romania 2024 confirmed Partners: : North Bucharest Investment, CPI Property Group, AFI Europe, Hagag Development Europe, NEPI Rockcastle, VASTINT, CTP, NUSCO, BMF Grup, WIREN, Globalworth, Global Vision, Speedwell, Lion’s Head, HILS Development, NHOOD, COS, Biris Goran, Coral Construct, Bog’Art, Alesonor, WeMat Global, Carbon Tool, Fortim Trusted Advisors, Ceresit, Theta Furniture & More, Optim Project Management, SAMSUNG Climate Solutions, Omifa, TPA Romania, RENOMIA Gallagher, Search Ads, Redport, Imobiliare.ro, Marazzi, Safety Approach, Avitech, Bellemonde, Fabrica de Profile, EVO Properties, STC Partners, Reynaers Aluminium, Serban & Musneci Associates.

Best International Commercial RE Agency of the Year
Avison Young
CBRE
Colliers
Cushman & Wakefield Echinox
iO Partners
Knight Frank

Best Local Commercial RE Agency of the Year
Crosspoint Real Estate
Dunwell Industrial Brokerage
Fortim Trusted Advisors
Griffes
Hitch & Mosher
North Bucharest Investments

Best Residential RE Agency of the Year
Conadi
Hitch & Mosher
Knight Frank
North Bucharest Investments
RE/MAX Innovation
SVN Romania
The Concept Group

Best Commercial Design Space Company of the Year
COS
Morphoza
Omifa
Pab Group
Theta Furniture & More
WeMat Global
Workspace Studio

Best Property Management Company of the Year
Alpha Real Estate Services SRL
CBRE
Colliers
Cushman & Wakefield Echinox
FORTIM Trusted Advisors
Global Vision

Best Constructor of the Year
Bog’Art
BTDConstruct & Ambient
Masterbuild
Melsam
Pedro Construct
STRABAG

Best Real Estate Law Firm of the Year
Albota Law Firm
Biris Goran
PELI Partners
Popovici, Nitu, Stoica & Asociatii
Reff & Associates | Deloitte Legal
Schoenherr & Associates
Stratulat Albulescu Attorney at Law
Tuca, Zbarcea & Asociatii
Wolf Theiss

Best Tax & Financial Advisory of the Year
Biris Goran
Deloitte Romania
KPMG
PWC Romania
TPA Romania

Best Project Management Company of the Year
Brisk Group
CBRE
Colliers
Cushman & Wakefield Echinox
Masterbuild
Optim Project Management
Sentient
Vitalis Consulting

Best Facility Management Company of the Year
Atalian Romania
BMF Grup
Bog’Art Building Management
BSS
Coral Construct
FMS
Genesis FM
Global Vision

Architectural firm
AMA Design
BL Associates
Chapman Taylor
Cumulus
Prographic Architecture
Vlad Simionescu & Associates
X Architecture

Best Coworking Brand
Hotspot
MASIA
Mindspace
Regus
Stables

Best Facades Solution Provider
Alumil
Fabrica de Profile
Metigla
Reynaers Aluminium

Best Sustainable Photovoltaics Systems Providers of the Year
4ENVIGO
Metigla
NOFAR Energy
Volta X Solar Systems
WIREN

Best Marketing & PR Professional of the Year
Alexandra Ionita – iO Partners
Anca Buzatu – AFI Europe
Daniela Badoi – Schoenherr
Delia Bijnea – Stratulat Albulescu Attorney at Law
Diana Vasile – Cushman & Wakefield Echinox
Eliza Onica – VASTINT Romania
Iulia Iana – HILS Development
Roxana Baias – NEPI Rockcastle
Sorina Florescu – CTP

Best Property Leadership of the Year
Alex Skouras – Alesonor
Antoniu Panait – VASTINT Romania
Doron Klein – AFI Europe
Ema Iftimie – Globalworth
Fulga Dinu – CPI Property Group
Ionut Negoita – HILS Development
Michele Nusco – Nusco
Rüdiger Dany – NEPI Rockcastle
Sorin Preda – Global Vision
Vlad Musteata – North Bucharest Investments

Bulgarian Real Estate Fund REIT to sell DIY shopping centre in Sofia for EUR 18 mln

Bulgarian Real Estate Fund REIT has signed a preliminary agreement to sell its Doverie-Bricolage shopping centre in the capital Sofia to local Doverie-Brico, part of diversified group Doverie United Holding, for EUR 18 million euro.

The deal is expected to be finalised by November 2025, with BREF continuing to receive lease payments until then. An advance payment of 10% of the sale price has been agreed.

In 2006, BREF concluded sale-and-leaseback deals with French DIY chain Mr Bricolage for two stores in Varna and Sofia. The two properties were acquired for EUR 10 million.

Sofia-based Doverie-Brico operates DIY stores in Bulgaria under the Mr Bricolage brand, offering furniture and building materials.

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