The industrial real estate market in Central and Eastern Europe (CEE) showcased varied performances in Q3 2024.

River Development, one of the leading real estate developers in Romania, has a new Managing Partner since January 2024. Oana Rădulea takes over the executive management of the company, from the former Executive Director, Liviu Birău.

According to a survey conducted by Genesis Property, out of 1,247 respondents representing multiple generations nationwide, nearly 61% of employees believe the ideal office should be in a campus with many amenities and options for office life and leisure time, with different spaces where they can work according to their needs.

Four significant shareholders of One United Properties, including the co-founders Andrei Diaconescu (via OA Liviu Holding Invest), Victor Capitanu (via Vinci VER Holding), Chairman of the Board, Claudio Cisullo (via CC Trust Group AG) and Board Member Marius Diaconu (via Altius S.A.), successfully sold 234,205,285 shares to local and international institutional investors. 

With 74 % of the European Union's population living in cities and suburbs, and estimates showing that 68 % of the world's population will live in urban areas by 2050, the question arises as to what the future of real estate development looks like. Especially considering that, according to data published at the EU level, buildings are accountable for 36 % of greenhouse gas emissions and 40 % of energy consumption.

Starting March 1, 2024, Radu Oniga will take over the position of general director of HORNBACH in Romania from Mugurel-Horia Rusu, who held the position of general manager since 2005. 

International Finance Corporation has provided a €150m investment with sustainability-linked features consisting of a syndicated loan facility and a convertible instrument to Lion’s Head Investments, a commercial property platform in Bulgaria and Romania - JV between Old Mutual Property and AG Capital

Representing a total gross leasable area (GLA) of 132,000m2, the portfolio of 25 retail parks was developed, built and managed by Mitiska REIM in partnership with its Romanian country partner Square 7 Properties over the past 10 years. All retail parks in the portfolio are food-anchored by either a Kaufland or Lidl supermarket, or a combination of both, with other tenants including leading international brands such as Deichmann, DM, Pepco, Jysk, KFC, Kik and Takko. In terms of sustainability, the entire portfolio has been awarded “Very Good” BREEAM certifications for Asset Performance.