Brokers in the real estate market talk about an increase of the investors and developers interest in land acquisition, however if previously the main buyers were the retailers, now more and more transactions involve the offices or residential projects development.
„There is an increasing interest for lands in the market. As we estimated, 2014 was a year with the request from institutional developers mainly focused on lands for offices. In 2015, this trend continues, however we also see a growth in demand for residential lands, for other projects than those for the segment targeting the buyers from «First House» program“, said Attila Peli, head of development and land within real estate consultant JLL Romania. He added that on the other hand, the retailers would start being less active on the land acquisition segment.
The transactions in the last period include the buying of 14 ha land in Eastern Bucharest last year by two Romanian investors Robertino Georgescu and Dan Drăgulin from Polocolor, in order to develop a residential project.
Moreover, Primavera Development, company controlled by Tănăsoiu family and the Dutch Eelko Kortaweg, bought a land of 2,200 sq. m on Calea Dorobanţilor in Bucharest for the development of an office building.
Towards the end of last year, South Africa’s fund NEPI also bought 1.2 ha plot from the former headquarters of the company Romenergo on Calea Floreasca, Bucharest, in order to epand Promenada mall.
A larger transaction, evaluated at EUR 15-20 million was the acquisition by IKEA, largest local retail of furniture and decorations, of a plot of nearly 14 ha on Theodor Pallady Blvd in Bucharest, for the development of the second store of the network. (source: zf.ro)