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Articles - real estate developments

Zacaria Group invests EUR 20 million in a new residential project in Bucharest

Real estate developer Zacaria Group enters the Romanian residential market with an investment of EUR 20 million in a project which includes 280 units situated in northern Bucharest.

ParkLake reached 94pc of total GLA for its September opening

ParkLake, a Sonae Sierra and Caelum Development Joint venture project, announces the opening for September 2016 with further tenant agreements reaching over 94pc of its Gross Leasable Area (GLA). The new tenants range from clothing, sports equipment and toys to sports and fitness services providers.

Veranda shopping center signs EUR 25.5 million financing deal

The Veranda shopping center, in the Obor area of Bucharest, signed a EUR 25.5 million financing deal with Raiffeisen Bank SA and Raiffeisen Bank International AG for the development of the project in the next period of time, according to a company press release.

NEPI to deliver 8,400 sqm office project in Bucharest this summer

Aviatorilor 8 (project former known as Victoriei Office), an office building in Bucharest’s Victoriei Square with a GLA of 8,400 sqm, will be finalized during the third quarter of this year, according to developer NEPI (New Europe Property Investments).

Vastint Romania has a permit for one million square metres built in Sisești

Genereal manager Vastint Romania, real estate division of Swedish group Inter IKEA, has declared that the Zone Urban Permit for the area Sisești, the most recent acquisition of the developer, allows the development for up to one million sq. m built area. c

Alpha Bank to become real estate developer for two residential projects in Bucharest

Alpha Bank, one of the top ten’s banks in Romania following the value of assets, founded a real estate division to be in charge with residential development. The bank is trying therefore to recover part of the money invested in the boom period in such projects, but the apartments price dropped with 40-50 pct. ever since.

Veranda Mall in Bucharest reaches 70 pct occupancy rate before proposed opening

Veranda Mall, a commercial complex in Bucharest’s Obor area, has reached a 70 percent occupancy rate before its scheduled opening in the last quarter of the year, developer Prodplast Imobiliare announces.

Knight Frank: Growing interest for downtown Bucharest offices

The commercial real estate investment market will continue this year the strong growing trend felt in 2015 too, as the temporary data shows that the volume of transactions increased with more than 20 pct. compared to the precedent year, according to Knight Frank’s study, and 2016 will bring important changes on the office market, including on the local market.

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