Press release
OVER 3.5 BILLION EUR REAL ESTATE INVESTMENTS IN BUCHAREST, ROMANIA
Major international real estate buyers that entered the Bucharest market in the last 5 years include American investors Morgan Stanley, Cerberus or White Star, South African funds MAS REI, Atterbury or Fortress, Israeli investors such as Adam Europe or Dayan family
while prominent developers already active in the last 10 years on the market include names such as One United Properties, Element Group, Dedeman Group, Globalworth, CA IMMO, S IMMO, Immofinaz, Gran Via, Vastint or WDP.
The total investment volume includes major urban renewal projects with mixed functions on large former industrial plots in Bucharest, new offices and hotels located in Bucharest Central Business District, in new office projects, residential compounds, retail and logistics schemes and new Municipality infrastructure projects aimed at fostering the real estate investments.
+ 600 MILLION EUR IN MAJOR URBAN REDEVELOPMENT PROJECTS
An emerging East-European city, Bucharest inherited large industrial platforms in central areas of the city, which are currently acquired by the real estate and transformed into modern real estate compounds. A private gentrification phenomenon is evolving in Bucharest, with international and local investors transforming large unused plots of lands into new, vibrant communities: modern office buildings, residential compounds, retail amenities, reconversion of old historical buildings. Active investors active on this segment are One United Properties (Romania), Vastint (Switzerland), Hanner (Lithuania).
+ 300 MILLION EUR IN BUCHAREST CENTRAL BUSINESS DISTRICT (CBD)
Bucharest city center is seeing an important transformation given its tourist traffic (3,6% annual increase before pandemic) and its location within the EU borders. The main commercial artery of the city, Calea Victoriei, continues to grow as an office and hotel hub in the upcoming years, with developers planning to build 7 new office buildings and 6 hotels, with a total investment value exceeding the 300 million euros threshold, according to an analysis of Cushman & Wakefield Echinox.
Major investors in Bucharest CBD include Appex Alliance (Lithuania), Dayan family (Israel)), Hagag Group (Israel), Atenor (Belgium), Tiriac Imobiliare (Romania).
+700 MILLION EUR IN NEW OFFICE DEVELOPMENTS
The office sector is impacted by Covid-19 and remote work format, with a 36% decrease in the transactions volume for 2020 vs 2019. Some projects are being converted into residential compounds, but investments in new office hubs have not been stopped. Several of the most active office investors in Bucharest are Globalworth (South Africa), One United Properties (Romania), CA IMMO (Austria), Vastint (Switzerland), Speedwell (Belgium), Immofinanz (Austria), River Development (Romania) or Skanska (Sweden).
Office investment acquisitions remain attractive despite pandemic, due to higher yields versus the CEE region. The real estate investment market in Romania is estimated at 900 million euros in 2020, up 30% as compared to the level recorded in 2019, being the only market in the region that recorded an upward trend during the health crisis.
Romania’s Capital City has been established as a hub of technology and innovation, as highlighted by a recent Financial Times ranking, which places Bucharest on the 7th position in Top 25 “Tech Cities of the Future 2020/2021”. At the same time, in the pandemic context driving the acceleration of digitalization, BUCHAREST REAL ESTATE CLUB estimates that the main software and digital solutions companies full continue to accelerate their development.
“UiPath was founded in Bucharest, which was the springboard to our global development. We have found here the necessary infrastructure and modern offices, but most importantly top skilled talents who contributed to taking the UiPath story to each continent,” said Elisabeta Bosneag, Head of Global Real Estate UiPath, for BUCHAREST REAL ESTATE CLUB.
LOGISTIC & RESIDENTIAL STAY IMMUNE TO PANDEMIC
The residential sector performs over expectations in Romania, with total sales in 2020 up by 19% vs 2019 according to data of the National Cadastre Agency. This result combined with the increasing power purchase of Romanians and expected economic growth for 2021 (+4.6 % - International Monetary Fund) are the main pillars for residential developers’ investments in new, modern living compounds with numerous facilities and integrated technology for a better lifestyle. Most active developers in Bucharest include One United Properties (Romania), Gran Via Real Estate (Spain), Speedwell (Belgium), Akcent Development (Romania).
The total Romanian logistic stock exceeded 5 million sqm at the end of 2020, with 2.4 million sqm in Bucharest. The company estimates that the total Romanian logistic stock will exceed 8 million sqm in five years’ time. Some of the most active investors on the logistic sector include Romanian investor Element Industrial or Belgian investor WDP.
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In the midst of a new stage of development for Southeast European (SEE) cities, with ever positive prospects, new local & regional capital emerging and large international platforms have made major steps in the region, BUCHAREST REAL ESTATE CLUB has been set – up to foster cross-regional business development, facilitate valuable connections building and impactful deals origination.
The Club is established in Bucharest and connects with the entire SEE, with the aim of enhancing the potential of Southeast European cities.
More information: Bianca Dobrescu, Head of Corporate Communication, bianca@verbio.ro , + 40.747.800.398.
bianca@verbio.ro
In the midst of a new stage of development for Southeast European (SEE) cities, with ever positive prospects, new local & regional capital emerging and large international platforms have made major steps in the region, BUCHAREST REAL ESTATE CLUB has been set – up to foster cross-regional business development, facilitate valuable connections building and impactful deals origination.
The Club is established in Bucharest and connects with the entire SEE, with the aim of enhancing the potential of Southeast European cities.
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