Welcome to Colliers International Romania News Centre. Here you will find the latest news and information, alongside an archive of news releases. You can also search for content using the search bar below.
About 10 years ago, Lehman Brothers’ bankruptcy would mark the peak of the global financial crisis and would be followed by a deep recession in several parts of the world, including Romania. However, Romania has come a long way in the last decade, with the economy seeing some radical transformations, as well as in real estate; the real estate consultancy company Colliers International Romania sees the next 10 years offering an attractive risk/reward profile.
Bucharest’s Floreasca/Barbu Vacarescu area is the most valuable fusion between retail and office spaces. According to the real estate consultancy company Colliers International Romania, for every 1,000 sqm of offices there are 35-40 sqm within them dedicated to the selling of various goods and services. In total, in the Floreasca/Barbu Vacarescu area there are about 10,000 sqm of such spaces at the ground floor of the office buildings, with the rents generated by these holding a share of 4-5% of the total cashed in by landlords.
With the growth of the Bucharest office market to 2.3 mn sqm, office buildings become more and more important in the recruitment and retention of employees. The new wave of employees is more demanding in terms of office life concepts and expects a building to offer, besides a modern working space, a community to belong to. According to the real estate consultancy company Colliers International Romania, in the coming years, property management services will influence the level of employee satisfaction.
The real estate consultancy company Colliers International Romania advised East Balkan Properties plc in the selling of its office portfolio consisting of four buildings with a total area of 9,047 sqm, situated in strategic locations in the capital. The aquisition was made by Adam Europe, the group that purchased a while ago the Phoenix Tower and Construdava Business Center office buildings, following two transactions that were also advised by Colliers.
Real estate developers pay special attention to the environment by developing efficient and sustainable, green certified projects. With a history of almost four years, the WELL Building Standard complements these certifications and shifts the attention from the built environment to the health of the employees. In Romania, this phenomenon is in its inception and Colliers International Romania is the first real estate consultancy company with a team of WELL professionals – two out of the five that are present on a national level.
The hotel market in Romania could diversify throughout the next year as a result of new brands entering the market by means of leasing or partnership contracts with real estate developers as an alternative to the management or franchise contracts. Such a business model will lead to the relaunch of the hotel market and will offer, at the same time, the possibility for real estate developers to diversify their portfolio, according to Colliers International.
The real estate consultancy company Colliers International Romania was appointed by the Adam Europe Group to take over the management of Phoenix Tower and Construdava office buildings. With these two new projects, Colliers International strengthens its position on the property management market in the office sector and the overall managed portfolio reaches a total of over 300,000 leasable sqm.
The real estate consultancy company Colliers International was assigned by Hili Properties group to provide property management services for the Art Business Center office project, which houses the largest private hospital in Romania. Thus, Colliers International reaches a managed portfolio of over 280.000 leasable sqm and enters a new segment, that of private hospitals, marking a premiere for the local property management market.
Bucharest, May 29, 2017: The real estate consultancy company Colliers International has launched a new business line, Retail Services, and aims to become a „one-stop shop” for retail developers. The Retail Services Division is coordinated by Simina (Istrate) Niculiţă, who has more than 12 years of experience in the real estate market, being in charge of both renting and selling shopping centers.
The growing interest for LEED and BREEAM certifications has continued this year, especially for office projects. At the beginning of 2017, over 1.22 million sqm of office space were already certified and other 36 buildings, with approximately 785,000 sqm of offices, are currently under certification, according to Colliers International.
Colliers International offers consultancy to ELGAN company, owned by the businessman Simon Roth, in the sale process of a logistics project located near Pitesti, rented by Dacia, part of Renault Group. The warehouse was purchased by Globalworth Real Estate Investments Ltd (“Globalworth”) for a transaction value of EUR 42.5 million.
Aberdeen Asset Management Deutschland AG signed a sale agreement of Construdava building in Bucharest to AdamAmerica. This is the third transaction in which Aberdeen Asset Management Deutschland AG was advised by Colliers International.
Bucharest, 30th of August 2016: The stock of modern shopping centers in Bucharest will increase by 100,000 sqm by the end of the year through the delivery of two projects in the eastern part of the capital. In addition to this area, Colliers International estimates that there is room in the Capital for another large shopping center.
Colliers managed the leasing process of Mercur Centre, which reached 95% occupancy rate. Mercur Centre had the grand opening on 9th of June, having 95% occupancy rate. The centre reunites famous fashion brands, entertainment areas and food court, as well as the first multiplex cinema in Craiova.
Globalworth Real Estate Investments Ltd. (“Globalworth”) has signed an agreement to offer real estate secured bonds worth a total of Euro 180 million. Euro 150 million will be subscribed by Canada Pension Plan Investment Board (CPPIB) and the remainder Euro 30 million by funds managed by Cairn Capital (“Cairn”).
Fashion brand COS, part of H&M group, enters the Romanian market in 2016 and opens the first store on Calea Victoriei in Bucharest. Colliers International advised on the lease transaction by which COS will open a 2 levels store of almost 900 m2, within a historical building on Calea Victoriei.
Global Trade Center acquired Premium Point and Premium Plaza office buildings in Victoriei Square, in Bucharest. The transaction was advised by Colliers International as representative of the seller.
Colliers International advises on the first sale transaction of an office building in 2016, in Romania:Aberdeen Asset Management Deutschland AG and Commerzbank are selling Phoenix Tower in Bucharest.
The volume of real estate investments will increase in 2016 in EMEA region, supported by emerging markets and advantageous lending terms, but also by the general positive attitude of international investors. In the first three quarters in 2015, EMEA region reported a total investment volume of USD 200 billion, 3% bigger than the one in the previous year, while in CEE, investments are bigger by 9% than in 2014 and the region attracts more capital with risk appetite and searching for profitable yields.
Encouraged by stable economic environment and growth potential, the real estate market has gained momentum and transaction volumes will be close to Euro 800 million by the end of the year.
Aberdeen Asset Management Deutschland AG reached agreement to sell Auchan Titan Shopping Center in Bucharest to New Europe Property Investments (NEPI). Aberdeen was advised by Colliers International and law firm Biris Goran in the transaction.
Colliers Romania advised AFI Park 3 that received the LEED Gold certification under the LEED for Core & Shell Rating System for Green Buildings, becoming the third office building in AFI Park to obtain such high qualification. Colliers International advised all three office buildings in AFI Park in the certification process.
Colliers International was named by the Green Building Certification Institute as an LEED® Proven Provider™ for the LEED EB:O+M rating system (Leadership in Energy & Environmental Design, Existing Buildings Operations and Maintenance). Colliers International is the only LEED® Proven Provider™ consultant in Romania having already 12 certified projects, while a further 10 are undergoing the green certification process with the support of Colliers. This designation demonstrates the consistent excellence for LEED certifications managed by Colliers International.
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) today announced the appointment of Jay S. Hennick as Chairman and Chief Executive Officer and Dylan Taylor as President and Chief Operating Officer. These appointments follow the resignation of current CEO Douglas Frye.
Colliers International Group Inc. (Nasdaq:CIGI) (TSX:CIG) and FirstService Corporation (Nasdaq:FSV) and (TSX:FSV) today announced the completion of their separation into two independent, publicly traded companies – Colliers International Group Inc. ("Colliers") and new FirstService Corporation ("FirstService"). Colliers's shares are expected to begin trading on The NASDAQ Stock Market ("NASDAQ") under symbol CIGI and the Toronto Stock Exchange ("TSX") under symbol CIG on June 2, 2015. The spinoff establishes Colliers' place as one of the leading publicly traded commercial real estate firms in the world.
Bucharest, February 19, 2015 – The transactional activity saw a 4-fold increase last year, investment volumes totalling €1.2 billion in Romania, while on the leasing segment, the net take-up – the main indicator for a healthy market growth – increased with circa 30%. Macroeconomic indicators support this positive vibe, as the 7% increase in consumption translated into retail sales up to 20% higher. There are increasing signs that 2015 will mark also the comeback of the industrial segment – a trend that was evident in last year’s numerous landmark investment deals and is expected to grow, based on rising demand for industrial spaces in the countryside and significant interest for new developments.
Bucharest, February 17th, 2015 – Colliers International, the leading real estate consultancy company on the corporate segment in Romania, launches a new service line, dedicated to the green certification of interior spaces under the LEED Commercial Interiors rating system. This is a new certification advisory service that addresses in particular the sustainability needs of office buildings occupiers in Romania, thus marking a new milestone in the maturity of the local real estate market.
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