BUCHAREST, 6th July 2022
The total volume of investments on the Romanian Real Estate market was 566.9 million euros in the first six months of 2022, of which 476.9 million euros in the last three months, according to a study conducted by the company Fortim Trusted Advisors, an alliance member of BNP Paribas Real Estate. Last year, in the first two quarters, a total of 194 million euros of real estate assets were traded.
The retail sector attracted the most investments in 2022, a total of 249.7 million euros. Among the assets traded are Cora shopping center, in Cluj-Napoca and the entire Value Center portfolio, which includes the retail parks DN 1 Value Center, near Bucharest, but also Dâmbovița Mall, in Targoviste and other commercial spaces in Zălău, Ploieşti, Sfântu Gheorghe and Bârlad.
On the second place, in the top of the fields in which it was invested, is the office segment, with transactions totaling 220.3 million euros.
“Current investors are mostly specialized companies, such as S Immo, Hagag, Indotek, MAS RE, Arcona Property Fund. 69% of the total value invested in Real Estate during this period came from REIT (Real Estate Investment Trust) companies, profile companies that own, operate or finance real estate assets that produce income. The highest amount paid for a single real estate asset in Romania in 2022 was given for the Expo Business Park office project in Bucharest. However, there are prerequisites for this amount to be exceeded by the end of the year, in a transaction that would also target a new office project “, spoke Nicolae Ciobanu, Managing Partner – Head of Advisory Fortim Trusted Advisors, an alliance member of BNP Paribas Real Estate.
TOP REAL ESTATE INVESTMENT SECTORS ROMANIA IN SEMESTER 1 2022
Among the office buildings traded this year are Expo Business Park, One Victoriei Center, Baneasa Business Center and Record Park Offices.
On the third place in terms of value of investments is the industrial field, with a total of 54.5 million euros, in two transactions.
However, the hotel industry, which is in fourth place, is on the rise, with five large transactions being made in the last three months, which totaled 38.9 million euros.
Slow down new spaces in Bucharest
In the second quarter of 2022, two modern office buildings were put into use in Bucharest, AFI Tech Phase 2, with a total area of 25,000 sqm and Arghezi 21, with an area of 5,700 sqm.
The modern stock of office space thus amounts to a total area of 4,077,955 sqm at the beginning of July 2022, according to the monitoring Fortim Trusted Advisors, an alliance member of BNP Paribas Real Estate.
By the end of the year, only one office building will be delivered, One Cotroceni Phase 2, with a total area of 28,841 sqm.
The announcement of the second phase of the Timpuri Noi Square project, with a total of 50,000 sqm, brings a change in the pipeline, of the stock of new spaces, but the delivery is estimated precisely for 2025.
Delivered Office Stock
About Fortim Trusted Advisors, Alliance Member of the BNP Paribas Real Estate
Fortim Trusted Advisors, an Alliance Member of the BNP Paribas Real Estate in Romania, is a company of real estate consultancy created in 2002 and since December 2020 is supervised by Costin Nistor, Bogdan Cange and Nicolae Ciobanu. The company provides services of real estate consultancy in the area of office, retail, industry & logistics, assessment, capital markets, research, yet it also provides services of Property Management and Project Management. In the area of Property Management, the company administrates over 115,000 sqm of office stock, retail and industrial stock. Among the most important recurrent clients of Fortim Trusted Advisors are Morgan Stanley, Add Value Management, Indotek, Kesz and First Property Asset Management. At the same time, on the office stock segment, the company took charge of office space trading for Reckit Benkiser, Renault, Fortech, Grohe, Credius, OLX Group, Multinode Network, AHI Carrier, AVL,UMT Software, Future Electronics, The Home or Bioderma.
