One United Properties enters the retail park market

Real estate developer One United Properties has partnered with Bogdan Macovei, the former expansion director of Kaufland and Lidl, with the plan to develop an extensive national network of retail parks, a sector that in 2024 experienced one of its best years in the last decade in terms of new project deliveries.

“Our plan is to develop a network of retail parks. We have secured the first locations by contracting land and are working on developing the team, which will be spread nationwide. Our target is projects with a sales area of 1,500 square meters and above, necessarily supported by a “food” anchor. We estimate that the works will gain momentum starting next year,” said Bogdan Macovei.

Specifically, through the new partnership, One United Properties aims to build stores to rent to food retailers such as Lidl or Penny, but also to non-food retailers, such as Jysk, if a food store already operates nearby. Most of the chain’s retail parks will be located in small towns.

So far, One United Properties has focused on developing housing and the office segment, on which it has created a portfolio with an area of 117,000 square meters. The only direct investment on the retail market is the Bucur Obor store, with an area of about 25,000 square meters. In addition, all of the company’s investments have been concentrated in Bucharest. Thus, the partnership with Bogdan Macovei also represents the expansion of One United Properties at the national level.

Source: Profit.ro

Vastint Romania announces HazelHeartwood as new tenant at Timpuri Noi Square

Vastint Romania has secured a new lease with HazelHeartwood, a Belgian management consulting firm, for approximately 400 sqm of office space at Timpuri Noi Square.

“I’m happy to announce the opening of HazelHeartwood’s newest office in Bucharest, a dynamic hub designed to foster collaboration, spark innovation, and strengthen partnerships with our clients. This space represents our commitment to creating an environment where ideas can be transformed into technical solutions. Our new office combines state-of-the-art facilities with an atmosphere that inspires creativity and teamwork. Bucharest’s rich cultural heritage and vibrant energy make it the perfect setting for this next chapter in our journey. We look forward to welcoming our clients and partners to this unique space, where we will work together to drive forward-thinking solutions with tangible impact,” declared Frank Grauls, Managing Partner of HazelHeartwood.

“We are excited to welcome HazelHeartwood, an ambitious player in the digital transformation segment, to Timpuri Noi Square. We are thrilled that Timpuri Noi Square continues to draw esteemed partners, further solidifying its position as a hub for development and innovation in Bucharest. The combination of technology, prime location, and top-notch amenities creates the perfect formula for tenants, enabling them to achieve both cost efficiency and reduced travel time for employees, thanks to improved connectivity and easy access to public transportation,” said Dorin Caplea, Leasing Manager at Vastint Romania.

Vastint’s office portfolio will expand with the upcoming Timpuri Noi Square 2 project, set for completion in Q4 2026. This development, currently one of the few office projects under construction in Bucharest, will add 105,000 sqm of gross built area (GBA) and introduce two new office buildings, effectively doubling the available office and retail space within the Timpuri Noi Square complex.

In 2024, One United Properties sold and pre-sold units worth EUR 227.8 million

One United Properties reports total sales and pre-sales of EUR 227.8 million in 2024, corresponding to the surface of 83,958 sqm of residential and commercial spaces sold and pre-sold. This includes 850 apartments and commercial units, as well as 1,270 parking spaces and other unit types. As for the development, as of December 31st, 2024, One United Properties had under construction a total of 4,041 units, 22,000 sqm of office spaces and 21,000 sqm of commercial spaces with a total Gross Development Value (GDV) of EUR 1.5 billion.

“Our sales team delivered an outstanding performance in 2024, navigating a complex market shaped by high inflation, geopolitical uncertainty, and a complicated local political landscape. The sales mix reflected strong demand for high-value units across developments in advanced stages of construction, reinforcing the resilience of our portfolio. At the same time, the exceptional success of One Lake District Phase 2, currently the most affordable developments in our offering, showcased our ability to cater to diverse buyer needs while maintaining a dynamic pricing strategy. As sales progress, prices at this development naturally increase, further consolidating our results. The combination of robust pre-sales and sustained demand across all segments underscores the strength of One United Properties in any market conditions,” said Victor Capitanu, Co-CEO of One United Properties.

The commercial division of One United Properties continued to expand, with the headline rent for the rental portfolio reaching EUR 28.2 million, an increase of 20% compared to 2023.The leasing activity remained robust despite challenging conditions on the office market in Romania. Consequently, One United Properties’ office division leased and pre-leased 12,850 sqm of office and retail spaces across the commercial portfolio. In addition, the Company signed several lease extensions for a total of 7,120 sqm across its standing portfolio. As of December 31st, 2024, 94% of the Group’s standing commercial portfolio was already let.

“2024 was a testament to the resilience of One United Properties. Despite challenges across both the residential and office segments, we delivered extraordinary results; undoubtedly the best on the Romanian market. The 228 million euros in residential sales and pre-sales, along with 20,000 sqm of leases, pre-leases, and extensions in our office portfolio, confirms that especially in times of uncertainty, people will seek quality. Our focus on building the most renown prestigious, exclusive and aspirational brand in Romania has once again proven to be the winning formula. Beyond strong sales and leasing performance, we reinforced our commitment to investing in Bucharest, with our development teams managing 1.5 billion euros in projects under construction in 2024 – the biggest year in our history. This underscores that One United Properties is not only the leading developer in Bucharest but also one of the city’s largest investors,” said Andrei Diaconescu, Co-CEO of One United Properties.

As of December 31st, 2024, One United Properties had in ownership or under pre-SPA 285,100 sqm of land locations for further development, with total above-ground gross building rights (GBA) of approximately 988,000 sqm. All these land plots are currently in the planning phase, with estimated GDV of additional EUR 1.8 billion. The Company estimates the construction of 7,000 apartments, services for communities, and 146,000 sqm of rental commercial buildings. Out of the commercial buildings, 121,000 sqm will host offices and the remaining 25,000 sqm represent buildings that will undergo restoration.

Homing Properties receives construction permit for Homing Village

Homing Properties has announced the receipt of the construction permit for its large-scale project, Homing Village. Located in the northern part of the capital, in the Pipera area, this residential complex will include 140 luxury villas and represents an investment of EUR 35 million.

“Securing the construction permit for Homing Village marks a significant milestone in the implementation of this ambitious project. We aim to provide our clients with modern, spacious homes equipped with complete facilities, all strategically located, near international schools. We are confident that this complex will redefine standards in Bucharest’s residential market,” stated Tomás Manjón, co-founder of Homing Properties.

“Homing Village is not just a villa complex; it is an oasis of comfort and elegance, dedicated to those who appreciate a refined lifestyle. We are committed to following the highest standards of quality and sustainability, incorporating modern architectural elements. We eagerly anticipate the start of construction and bringing this project to life, which promises to offer comfort to the Pipera community,” added Diego Stuyck, co-founder of Homing Properties.

Spanning 65,000 square meters, Homing Village will feature villas with 3 to 6 bedrooms, each with a private garden and the option for a pool. The project will be developed in four phases, with the first phase scheduled for completion in the last quarter of 2026.

The complex will offer a wide range of premium amenities, including a multisport field, generous green spaces, children’s playgrounds, a fitness center, and an event hall. Residents will also benefit

Kaufland expands in Romania with new store opening

Kaufland Romania opens its second store in the city of Bragadiru, Ilfov County. With this investment, the company reaches a national network of 188 hypermarkets and creates 70 new jobs.

The new Kaufland is located on Şoseaua Alexandriei 182-186 and has a total area of approximately 6,300 sqm, of which over 3,300 sqm are intended for indoor sales space. The parking lot has a total capacity of approximately 250 spaces.

The shopping mall includes several partners, such as TOGO Brunch & Coffee, the eSushi store, the Blue Confectionery, GSM Home, the Premier Clinic optical store, the Good2go store, and the Dr. Max pharmacy.

In the spring, the hypermarket will transform 1,600 sqm of the green space inside the store into a mini-urban forest, where hundreds of saplings of various species will be planted, marking a new step in the company’s commitment to the environment.

Liebrecht & wood to develop amusement park near Bucharest

Real estate developer Liebrecht & wood, which opened the Fashion House outlets near Bucharest, has plans for new investments. In addition to continuing the construction of houses in the Liziera de Lac project, the company wants to enter a new market and invest in a large-scale amusement park, with indoor and outdoor activities, near Bucharest.

Liebrech&wooD had big plans for the land it bought in Cernica ten years ago. The project was to include the second outlet, which has already been opened, a shopping mall, a hypermarket, and an IKEA store. Part of the land on which the project was to be developed was sold to Lidl, which built a logistics warehouse. But because the land is large, the developer wants to enter a new market and invest in an amusement park.

“Indeed, the initial goal was to have an outlet there, with a retail park, anchored by IKEA. We talked with them for years, but they decided on another plot, not very far from ours. For several years we have been looking, okay, we don’t have IKEA, but what do we have in the surroundings? We sold a plot to Lidl for the logistics park and we still have land on the opposite side where we will develop a retail park, which will be near those in the residential project. But, for another 21 ha we found a partner to enter the leisure industry. It will be a full-fledged amusement park, with roller coasters, outdoor and indoor activities. The investment is EUR 50-60 million in the first phase,” said Patrick van den Bossche, founder and & Managing Director of Liebrecht & wood.

The developer is now working on finalizing the concept of the amusement park and is preparing to obtain the building permit.

“The intention is to start construction this year. We will work with a Dutch company, Momentum Leisure, which has three parks open in Poland. And of course, we want to continue developing Liziera,” added van den Bossche.

Source: economica.net

Romanian residential building permits increase by 2.9% in 2024

The number of building permits issued for residential buildings increased by 2.9% in 2024 compared to 2023, to 35,667, according to data published by the National Institute of Statistics.

Increases were recorded in the following development regions: South-Muntenia (+441 permits), West (+375), Bucharest-Ilfov (+206), North-East (+99), South-East (+20) and North-West (+10). Decreases were recorded in the development regions Center (-112 permits) and South-West Oltenia (-18).

In December 2024, 2,511 building permits were issued for residential buildings (-8.0% compared to November 2024), with a total usable area of 840,852 sq m (+25.3%). Of the total building permits for residential buildings, 71.3% are for rural areas. In December 2024, there is a decrease in the number of building permits issued for residential buildings compared to the previous month (-218 permits).

Nusco: The first bond issuance on the BVB marked an unexpected success

Nusco announces the successful completion of its first bond issuance and its listing on the Bucharest Stock Exchange (BVB).

Thus, Nusco recorded an oversubscription from the market – even in an uncertain economic context – and successfully closed the bond issuance launched at the end of last year. This means that investors in the BVB showed more interest than the company’s initial offer of RON 25,000,000.

“We are very excited by the strong interest shown by investors in Nusco’s bonds. This success confirms the strength of our company and the confidence the capital market has in the projects we develop. We thank all those who subscribed and chose to be part of the Nusco community – the entire process validates our trust and provides us with even more motivation,” stated Michele Nusco, CEO of Nusco.

This achievement represents a significant milestone for Nusco and marks the expansion and development of the company’s partnerships with market investors. It is a strategic step towards strengthening Nusco’s presence in the capital market. “We are convinced that this first bond issuance on the BVB will open new development opportunities and will contribute to diversifying our high-quality relationships with our investors,” added Michele Nusco.

The issuance was intermediated by BRK Financial Group, a trusted partner in this transaction. “We are pleased with this success, especially given the challenging market conditions, but even more encouraging is the fact that we now have a new emblematic issuer in the real estate market on the capital market, a player with opportunities and ambitious plans for the local market. We support every entrepreneurial company in considering and exploring the possibilities of financing through the capital market, especially since there are funds in the PNRR to encourage companies to list on the stock exchange,” stated Laurențiu Irimia, Corporate Manager at BRK Financial Group.

Sabac city, IFC and EU plan to build eco-industrial park

Serbia’s western city of Sabac, the European Union, and the International Finance Corporation have signed an agreement for the construction of an eco-industrial park in the city, the first of its kind in the Western Balkans.

Eco-industrial parks gather different companies that aim to use energy, water and other resources more efficiently, and reduce their environmental impact, the Sabac city administration said in a press release.

Under the Eco-Industrial Parks Initiative, which the IFC is implementing in partnership with the EU, four more parks will be developed in the region.

“By launching the initiative, we are fostering innovation, strengthening our capacity to respond to environmental challenges, and advancing the circular economy, which are essential steps towards achieving net-zero emissions by 2050,” said Plamena Halacheva, deputy head of the EU delegation in Serbia.
The estimated total budget for the implementation of the Eco-Industrial Park Concept in the Western Balkans amounts to EUR 3.8 million. The project is expected to be completed in 2028, according to IFC.

Lefties and Stradivarius to open in Iulius Mall Suceava as part of major expansion

Fashion retailer Inditex is set to bring the Lefties and Stradivarius brands to Iulius Mall Suceava, marking their debut in north-east Romania. The openings are part of a major expansion of the shopping center, which is expected to be completed by mid-2025.

The expansion of Iulius Mall Suceava will introduce a range of new international brands, drive-thru restaurants, coffee shops, a gym, green spaces, and additional parking facilities. Among the highlights, Lefties will unveil its latest Digital Store concept, integrating advanced retail technologies for an enhanced shopping experience. The store will feature smart fitting rooms, easy pay cash registers, in-store return stations, and a customization area for clothing and accessories. The Lefties store will span 3,000 square meters, making it one of the largest in the region.

Stradivarius, one of Inditex’s most popular brands, currently operates 850 stores across 64 countries and will now be available to customers in Suceava for the first time.

The two new Inditex stores will open in the first half of 2025, coinciding with the completion of the Iulius Mall Suceava expansion, which will bring the total leasable area to 60,000 square meters. The redevelopment aims to create a modern retail and leisure destination, featuring department stores, international fashion brands, restaurants, coffee shops, drive-thru venues, ice cream parlors, a gym, and enhanced parking facilities.

As part of the project, new access routes will be developed to improve connectivity between the mall and the expanded parking areas. The redesign will also incorporate landscaped green spaces and ambient features, further enhancing the visitor experience at Iulius Mall Suceava.

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