Cascade Group, a foreign-capital family office which has been operating in Romania for over two decades, said it is launching a new investment division which will offer 40 million euro ($43.4 million) in financing to local entrepreneurs as well as small and midsize investors operating in real estate and other industries in the next five years.
ALLCLOUD, a US-based global leader in cloud-based services, has selected River Plaza, a modern office building in Romania’s capital city, in a strategic real estate transaction facilitated in a highly efficient manner by CBRE Romania. The collaboration of all parties involved resulted into a lease of a fully fitted out workspace, with the flexibility to accommodate a potential future expansion of the technology focused professional services company.
Construction and real estate sectors are among the most cyclical sectors. Sensitive to changes in the labour market, prices in commodities and, first and foremost, the interest rate environment and accessibility of credit, they are currently under strain. And things are unlikely to get any better in 2024, according to a survey by Coface.
One United Properties (BVB: ONE), the leading green developer of residential, mixed-use and office real estate in Romania, posts a preliminary consolidated turnover of 306.6 million euros for 2023, a 30% increase compared to 2022.
Real estate investment transactions amounting to more than €600 million are currently in advanced stages of negotiation, as the volume registered throughout 2023 could be matched in the first half of this year, according to data from the Cushman & Wakefield Echinox real estate consultancy company. Ongoing negotiations target office buildings (30% of the value above), retail projects (30%) and logistics parks (40%), with around half of the assets being located in Bucharest.
KESZ Group has selected Fortim Trusted Advisors, company specialized in consulting and real estate management, as the exclusive agent for Corallis, the first own residential project developed in Romania.
Blankfactor, a global provider of end-to-end digital transformation technology solutions for global financial services and payments giants, has selected SkyTower, a landmark office building in Romania, in a strategic real estate transaction, which was facilitated by valued-partner CBRE Romania, with the aim of Blankfactor moving into the space by March 2024.
ONE Technology District, the building of 20,000 square meters of leasable area, for which Infineon signed a 57 million euro contract with One United Properties for a period of 15 years, will be the developer's first flagship project without connection to the gas network.
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