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South Eastern Europe

P3 closes deals for 78,000 m² in the first nine months of 2022

P3 Logistic Parks closed transactions for 78,000 m² of office and logistics space in Romania in the first nine months of this year. Of the total transactions, 34% are new long-term contracts (26,533 m²) and two thirds are short-term contracts or extensions of existing contracts (51,505 m²).
Friday, 18. November 2022

Globalworth appoints Dennis Selinas as new CEO

Globalworth has appointed Dennis Selinas as the new CEO of the Group. The Board of the company and Dimitris Raptis, CEO, have agreed for Raptis to step down from his role as CEO and as a member of the Board with effect from 31 December 2022, but he will continue to support Globalworth in an advisory role. Raptis joined the Bo...
Tuesday, 25. October 2022

GTC completes City Gate refurbishment project in Bucharest

GTC completed the City Gate Complex refurbishment project, following an investment of €3.5 million. The project started in 2021 and targeted two major directions for investment and implementation: common and leasable areas.
Friday, 21. October 2022

CTP initiates €150 million multi-project investment programme

CTP has initiated a new €150 million investment programme to develop over 200,000 sqm GLA of prime warehouse space in the country over the next two years and including the acquisition of two logistics centres in the capital Sofia from Bulgarian logistics developer and operator Transcapital.
Thursday, 6. October 2022

Sonae Sierra increases portfolio of assets under management

In the first nine months of 2022, Sierra reinforced and diversified its portfolio of assets under management in Europe and Morocco, signing 23 new contracts and attracting new clients. Since the beginning of the year, the Company has 11 new contracts in the Property Management area and 12 in Leasing, serving different client ...
Wednesday, 5. October 2022

Andreea Mihai joins Hagag Development Europe as CEO

Hagag Development Europe announces the consolidation of its management team by appointing Andrea Mihai as Chief Executive Office. In her current role, she is conducting the company’s operations in Romania, coordinating the development activity, drafting and overseeing the implementantion of the short, as well as medium and lo...
Tuesday, 27. September 2022

Scallier opens a retail park in Turda

The retail park with a leasable area of 9,000 sq m was opened in Turda on the 22nd of September. It is the fourth retail facility by the Polish company Scallier, which is developing a network of retail parks in Romania. Previously, the facilities in Rosiorii de Vede, Focsani and Timisoara were commissioned. After the opening ...
Tuesday, 27. September 2022

Japanese Manufacturer of Electric Motors Nidec enters Bulgarian Market

Nidec Elesys Europe has recently signed a lease contract for 700 sqm of Class-A office space in Sofia Airport Center, which is part of Revetas Capital portfolio of assets in Bulgaria. The company was founded in 1973 and is now entering the Bulgarian market for the first time.
Tuesday, 20. September 2022

GTC welcomes Beiersdorf to Sofia Tower II

Beiersdorf will move into the class A office building Sofia Tower II in Sofia. The newly developed building is in the final stage of construction.
Friday, 2. September 2022

Scallier leases over 6,200 m² in retail parks in three months

In the last three months, contracts have been signed for the rent of over 6,200 m² in retail parks provided by the company in Romania. Pepco, KiK, Sportisimo, Penti, Elmark and Super Zoo are tenants who have signed contracts for the largest areas. In total, since the beginning of May this year, 11 new lease agreements have be...
Tuesday, 23. August 2022

SLS Cargo expands in P3 Bucharest A1 logistic park

P3 Logistic Parks announces the extension of the lease agreement with the transport and logistics operator SLS Cargo, which adds another 11,412 square meters to the area already leased, in a transaction brokered by JLL Romania. Thus, less than two years since the collaboration started, the area leased by SLS Cargo in the P3 B...
Thursday, 4. August 2022

Hagag receives building permit for Știrbei Palace

Hagag Development Europe received the building permit for the consolidation and renovation works on Știrbei Palace, its property located on 107 Calea Victoriei. The company has initiated the tender process for the selection of the general contractor and is making all the necessary arrangements to soon start construction works...
Thursday, 4. August 2022

Azora acquires 5* Sheraton Rhodes Resort

Azora has completed the acquisition of the Sheraton Rhodes Resort, a 5* hotel in the island of Rhodes, on behalf of the Azora European Hotel & Lodging, F.C.R. from Lampsa Hellenic Hotels S.A..
Thursday, 4. August 2022

Accor opens new luxury hotel in Plovdiv

Accor announces the official opening of its flagship property in Plovdiv. The Emporium Plovdiv - MGallery located in the reborn building with a history, surrounded by the vibrant culture welcomes guests with the captivating story of Europe's oldest continually inhabited city.
Thursday, 28. July 2022

Where can real estate investors find 5%+ yields in Europe?

As inflation and debt costs in Europe continue to rise, investors in real estate are having to look harder for the returns they need, according to Savills. To help with this, the international real estate advisor has identified a variety of asset classes in 14 local markets that still offer 5%+ yields.
Wednesday, 27. July 2022

Nordis sold 255 units worth 123.7 million RON in the first half of 2022

Nordis Group, the only developer of 5-star hotel and residential complexes in Romania, announces sales of 123.7 million RON in the first 6 months of 2022. This amount represents the value of pre-contracts for the sale of apartments in the 4 projects that Nordis Group has under development at this moment. The signing of the sa...
Friday, 22. July 2022