Giorgică Baicu is preparing new residential project and 4-star hotel

Businessman Giorgică Baicu, who has developed thousands of apartments under the Corvaris and Venus brands, is preparing the construction of a new residential project with 316 apartments and a 4-star hotel behind the new Berceni Arena ice rink, near the Aparătorii Patriei metro station .

A company of Giorgica Baicu bought a plot of land with an area of about 1.4 hectares from the construction company Conexir Roell. Now, Baicu is working on the final details of a residential project, which will include 5 blocks with 316 apartments and a 4-star hotel.

The complex will benefit from 535 underground and above-ground parking spaces. The hotel will be called Venus Arena.

“The plan is to start construction next year in the spring. In addition to housing, there will also be generous commercial spaces on the ground floor. We will borrow some graphic elements from Berceni Arena,” said Cătălin Grigore, one of the owners of Sud Rezidential, the project’s exclusive sales agent.

The investment in this project will be between EUR 20 and EUR 25 million.

Source: Profit.ro

P3 discusses possible exit from Romania

The sovereign fund of the state of Singapore GIC could take into account the sale of the logistics project of P3 in Romania, according to data from the real estate market, and on the short list would be CTP, WDP, and Garbe and Hillwood.

The stake of the transaction is the sale of the Logistic park P3 on the A1 highway. The total area of the park is approximately 380,000 sqm and currently includes 14 buildings, an electrical station and a railway terminal.

The park has a self-service restaurant with a capacity of 200 seats and a building with accommodation units for workers with a capacity of 252 seats.

Among the largest tenants of the park are Carrefour, eMAG, Altex, Gebrüder Weiss, Elit, Agricover, HOPI, Europharm, Interbrands and Logistic E Van Wijk.

P3 would be the second big name that would mark an exit from the local logistics and industrial market in 2024, after Globalworth. The sovereign fund of the state of Singapore could collect EUR 265 million.

IULIUS to bring the JUMBO concept for the first time in Cluj, located in RIVUS

RIVUS Cluj-Napoca, the new urban reconversion project by companies IULIUS and Atterbury Europe, will include a partnership with JUMBO, one of the largest retailers of toys, home and seasonal products in the Balkans operating on the local market. Best known for its wide range of fairly priced products, the Greek retailer will access the Cluj market for the first time, being one of the top 3 most anticipated brands for Cluj locals according to market surveys and public consultations.

IULIUS signed a partnership with JUMBO, who will access the Cluj market via the RIVUS urban reconversion project that is set to transform a former industrial platform into a complex with likely the widest diversity of uses in Romania – retail, cultural, entertainment, office, park.

The JUMBO concept based in RIVUS will span on an area of approximately 8,000 sqm, offering toys, products for babies, office and stationery supplies, decorations, seasonal products, and home goods.

“We are glad to announce the first retailer we are bringing closer to the people of Cluj via the RIVUS project. JUMBO is a highly-anticipated brand among Cluj locals, as indicated by the surveys and consultations we carried out to better understand the local public, landing among the top 3 most wanted and most anticipated retailers. JUMBO is a premiere for our portfolio of partners and we are glad that together with them we will offer Cluj locals the experiences they want. RIVUS will be the most extensive lifestyle center in Romania, with first-to-market uses and statement-concepts. This project already promises to be extremely attractive and exciting through its thematic diversity, as well as the new shopping, entertainment, cultural, and socializing components, and is drawing major interest from the market,” said Oana Diaconescu, Head of Leasing IULIUS.

Global Vision launches New Technology and Innovation Division

Global Vision announces the launch of its new Technology and Innovation Division. This strategic initiative aims to implement custom AI solutions to enhance sustainability, operational efficiency, and innovation across the company’s diverse portfolio of real estate and green energy projects.

The Technology and Innovation Division will focus on deploying advanced AI-based systems for ESG management, streamlined operations, and data-driven decision-making. These solutions are designed to improve the environmental performance of real estate assets, ensure compliance with evolving regulations, and optimize resource management, supporting the creation of resilient and forward-thinking communities.

Marian Anghelache, with over 15 years of expertise in custom big data solutions and intelligent automation systems, will lead this new division to achieve its strategic goals, ensuring Global Vision remains at the forefront of innovation in the real estate and energy industries.

This initiative is closely aligned with Global Vision’s broader investment strategy, which combines real estate and renewable energy to build a diversified and sustainable portfolio. The division will play a crucial role in driving transformative growth, supporting the company’s mission to create long-term value and sustainable ecosystems across its sectors of activity.

Evo Properties reconverts the office buildings London and Oslo into a multifunctional hub

Evo Properties announces its first project: the reconversion of the Class A+ office buildings, London and Oslo, into a multifunctional hub. This new concept is dedicated to creating a vibrant space for offices, culture, hospitality, as well as medical and wellness services. This is just the first step in the evolution of River Tower Project into the new company – EVO Properties – a developer with a clear and ambitious vision for creating sustainable and interconnected communities.

The current functionality of the Class A buildings, London and Oslo – among the few in Bucharest with BREEAM Outstanding certification (scoring 90.3 percent in 2023) – represents the first step in the evolution of the River Tower Project towards EVO Properties. The developer aims to set new standards for the next generation of co-living spaces, designed specifically to meet the dynamic lifestyle of end-users, in a vibrant and collaborative ecosystem.

As part of the reconversion into a multifunctional hub, a significant investment of over EUR 10 million is required to accommodate new tenants and repurpose existing office spaces. A substantial portion of this investment, amounting to EUR 5 million, will be allocated within the next six months.

“Our vision for the London and Oslo buildings, as well as for future projects, developed under EVO Properties company, is to create spaces that go beyond traditional office environments. This is the first approach, already under process, to implement a multi-functional hub through the partial conversion of new, A+ class office buildings. We aim to create spaces where people can feel connected, productive, and inspired. Our efforts are focused on building strong communities, creating an inspiring work environment, and accomplishing a mix of functions that contributes to the success of our tenants’ businesses”, declares Adinel Tudor – CEO of EVO Properties.

By the end of 2025, the over 31,000 sqm of the London and Oslo buildings will be transformed into a multifunctional hub featuring a balanced mix of uses. Modern offices will occupy approximately 50-60 percent of the leasable area, while hospitality services and medical & wellness facilities will account for 20-25 percent and 10%-15 percent will be allocated to medical and well-being services. The remaining area is occupied by the Lumina Cultural Center, a pioneer in organizing theater performances in a space adapted from an office building, bringing art to the heart of the community. There are also spaces dedicated to various services that complement the experience of those who come to the office daily, including a café that is set to open in the coming months.

Info-logistics provider cargo-partner leases 7,800 sqm at CTPark Cluj

CTP announces the expansion of its partnership with cargo-partner, a full-range info-logistics provider, with the leasing of 7,800 sqm at CTPark Cluj. CTPark Cluj is located on the crossroads of the main western and north-south highways on the western edge of the booming university city of Cluj, in the heart of the Transylvanian region in Romania.

The newly leased warehouse at CTPark Cluj marks a significant milestone in the ongoing collaboration between the two companies, which began in 2015 with cargo-partner’s initial warehouse at CTPark Bucharest West.

This partnership has steadily expanded, now encompassing facilities at CTPark Timișoara Ghiroda and further extending into CTPark Cluj. Altogether, cargo-partner occupies a total of 28,000 sqm across CTP’s portfolio in Romania.

Andrei Bențea, Business Development Director CTP Romania, commented: “We value our extended partnership with cargo-partner and enjoy having them at multiple locations across Romania. At CTP, we are committed to supporting our clients’ expansion with advanced infrastructure, and CTPark Cluj is well-equipped to meet the diverse needs of modern logistics and manufacturing operations in the region. With our extensive network and a landbank of 3.8 million sqm across Romania, we offer our clients the flexibility to grow alongside us as their business evolves”.

Marriott’s brand Moxy will open second hotel in Serbia

Marriot International’s brand Moxy Hotels plans to open a second hotel in Serbia’s capital Belgrade by the end of 2025. The hotel will be located in Belgrade downtown, according to Moxy press release. Moxy opened its first hotel in Belgrade, situated in the central district of Vracar, in June 2023.

Moxy is expected to add 17 properties to its European portfolio by the end of 2025, it said.

Moxy operates 135 properties in over 25 countries. In Southeast Europe, Moxy also has a hotel in Romania.

“Moxy’s expansion into existing and new destinations, across Europe reflects the aspirations and expectations of the next generation traveller,” said Sandra Schulze-Potgieter, vice president, premium & select brands, Europe, Middle East and Africa at Marriott International.

“Our anticipated openings will stay true to the brand’s origins and focus on bringing a local design narrative in every public space, ensuring that every hotel feels ingrained in the local culture,” added Sandra.

CBRE expands ESG consulting services in partnership with Access4you

CBRE Romania concludes a partnership with the Hungarian company Access4you, specialized in certifying the accessibility of buildings, through which it will offer services for the auditing of buildings and recommendations regarding the inclusion of functional facilities in the design of the built environment, so that it becomes more accessible and inclusive for people with disabilities from Romania.

“Through the Access4you certification, we support clients to achieve their sustainability goals, integrating accessibility as a key element of social responsibility and sustainable development. This certification not only promotes inclusion, but also contributes to the creation of friendlier and more efficient built environments for all users,” says Nicole Sommer, Head of Business Development Î ESG & Sustainability Solutions, CBRE Romania.

More than 850,000 adult Romanians have a disability, approximately half of whom are still at an active age, under 66. Of these, only 11percent currently have salaried status, which only underlines the need for an individualized approach to furnishing, in office projects and traditional retail formats.

London Stock Exchange Group launches new office in Cluj-Napoca

London Stock Exchange Group, provider of financial infrastructure and data, has expanded its presence on the Romanian market and opened its second office, in Cluj-Napoca, after the technology and operations center in Bucharest.

“Cluj-Napoca is an important technology center in the region, with prestigious universities that annually train generations of valuable students. At the same time, local opportunities provide a favorable environment for experienced professionals and technology hubs. We have a consistent history of over 20 years here, and our commitment to strengthen our local presence is highlighted by the continuously expanding team and the modern spaces in which we work,” says Răzvan Preda, Site Lead, LSEG Cluj-Napoca.

The team from Cluj has 210 programmers, and is located in the new The Office building, located in the center of the city. The LSEG headquarters currently occupies an area of 1,500 sqm.

Businessman Dan Şucu enters the luxury apartment rental market

The businessman Dan Şucu invested about EUR 15 million in a complex with eight luxury apartments, located in the Primaverii-Dorobanti area, near Aviatorilor.

“There is a fairly small number of customers to whom this offer is addressed, but the offer they have in the market is not very large either. The Primăverii-Dorobanti area is already established as the first elite area of Bucharest. Everything that is built and what was later added in this perimeter is addressed to a premium client. The premium customer is looking for safety, prestige and comfort”, say the owner’s representatives.

Located on Muzeul Zambaccian street, at no. 15, the block offers customers six two-bedroom apartments, at rental prices between EUR 7,200 and 10,000, and one two-room apartment, which includes a bedroom and a living room. The homes have surfaces between 110 sqm and 254 sqm, including a generous terrace.

“This investment is intended for the long term, for rent, and we do not aim to put the apartments up for sale. We start from the premise that, as happens in all European capitals, the rental market in Bucharest will continue to develop at an alert pace,” add the developer’s representatives.

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