This week, it was announced the closure of the U Center I office transaction, through which the Dedeman group buys the first phase of the standard project in the Central Area of Tineretului, in Bucharest. With each transaction, we are approaching the one-billion-euro milestone, how much real estate investments in Romania could reach in 2022.
U Center Office building
U Center joins the increasingly long list of new office buildings, traded shortly after commissioning, in the last two years.
These include:
– Expo Business Park (București), MIRO (București), Record Park Offices (Cluj-Napoca), bought in 2022
– The Light One I (București), Campus 6.2&6.3 (București), Dacia One, Hermes Business Campus (București), bought in 2021.
The U Center transaction will be registered for the fourth quarter, and it will join a new series of office buildings bought in Bucharest.
More statistics in study Q3 OFFICE HIGHLIGHTS – FORTIM TRUSTED ADVISORS
Real estate investment balance sheet in the first three quarters of 2022
In Romania, real estate investors bought offices, malls, retail parks and warehouses totaling 715.1 million euros, until the end of October 2022.
Retail assets attracted the most funds, i.e., a total of 366.1 million euros. On the second place, as attracted investments, was the office sector, with 254.7 million euros, on the third place the industrial sector, with 101.9 million euros, on the fourth place the hotel sector, with 38.9 million and on the last place the public sector, with 3.5 million euros.
What investors preferred to buy
This year, the office buildings Expo Business Park, Victoria Plaza, 75% of the shares of the MIRO project, Cascade Office, Romproiect building and Floreasca Lake Office Building.
In the third quarter of 2022, the total value of real estate investments was 148.2 million euros, most of them being from transactions that concerned office buildings in Bucharest.
By the end of the year, the top sectors where investments are made could change, with offices moving first instead of retail assets.
