Real estate deals in Romania soar 44 pct to EUR 485 mln in H1

The value of property investments in Romania went up by 44 percent, in the first semester of the year compared with the same period of 2016, to EUR 485 million, according to a report by real estate consultancy JLL which tracked investments in Central and Eastern Europe (CEE).

In Romania, the number of transactions increased and the average value remained flat at around EUR 25.5 million, says Business-Review.eu.

According to the report, Bucharest attracted over 25 percent of the transactions’ value, under the similar level of 2016, when it attracted 48 percent of the investments’ value, which shows the liquidity from the secondary cities increased significantly.

The highest transactions were registered on the retail segment (70 percent), while the industrial projects attracted 13 percent, the office projects 11 percent and hotels 6 percent. The highest transaction registered in the first half of the year was the acquisition of 50 percent from the Iulius portfolio (Iulius Mall Cluj-Napoca, Iulius Mall Iasi, Iulius Mall Timisoara and Iulius Mall Suceava and three office buildings) by the South-African group Atterbury. This is the first acquisition of the fund in Romania, which bought shares from one of the biggest owners of retail spaces from Romania. On offices segment, the most important acquisition was the one of ART BC 7 by HILI Properties from a Romanian entrepreneur for EUR 30 million.

Globalworth made the most significant transaction on the industrial market in the first semester, through the acquisition of Renault Warehouse Oarja for EUR 42 million.

 

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