ROMANIA PROPERTY CLUB

Leading Sustainable and Innovative Real Estate Development in Romania

Iulius has signed a partnership with IFC, a World Bank member, to create a decarbonation strategy for the entire property portfolio
Iulius has signed a partnership with IFC, a World Bank member, to create a decarbonation strategy for the entire property portfolio 2048 1152 ROMANIA PROPERTY CLUB

17.03.2023

IULIUS has recently signed a partnership with IFC, a member of the World Bank Group, for the purpose of developing a strategy to decarbonize the entire portfolio of the company and achieve net-zero emissions. IFC will use the Green Pathways for Real Estate Institutional Portfolios (GRIP) platform to provide solutions for defining, implementing and financing the plans of IULIUS to reduce greenhouse gas emissions and to reach CO2 neutrality as soon as possible. This would be the first such engagement in Romania.

IULIUS Palas, Iasi

IULIUS is consolidating its sustainability goals for the following years and has thus entered into a partnership with the International Finance Corporation (IFC), a member of the World Bank Group. IFC will use the GRIP platform to support the company in the process of putting together a plan of actions to help reduce the carbon footprint across the entire portfolio. “Buildings are responsible for a third of greenhouse gas emissions globally. Through this partnership, Iulius and IFC are helping to accelerate climate action in real-estate development”, said Ary Naim, Regional Manager for IFC in Central and Southeast Europe.

In fact, IULIUS has always built in an environmentally conscious manner and owns the only LEED (Leadership in Energy and Environmental Design) certified nationwide shopping mall network in Romania. This adds to the Palas Iaşi and Iulius Town Timişoara mixed-use projects and the 15 office buildings in the United Business Center network in Iași, Timișoara and Cluj-Napoca, which are all green building certified. “We are particularly excited about this new partnership, which will help us take our sustainability strategy to the next level. The company has already undergone a comprehensive process of implementing high standards of energy efficiency, sustainable management of green spaces, outdoor surfaces and waste, and other sustainable solutions, as confirmed by the LEED certifications. However, we want to contribute even more to maintaining a healthy environment by reducing the carbon footprint in all eight of our projects,” said Dan Adrian Chelaru, Group Sustainability Officer IULIUS. 

Examples of certifications 

  • Palas Iași – the only LEED® Neighborhood Development certified project in Central and Eastern Europe
  • All 15 buildings in the United Business Center network are LEED® certified, of which UBC 0 (the most recent certification) and UBC 3 Timișoara are LEED® Platinum certified.

In addition to meeting the highest modern technical requirements, their implemented solutions, comfort and safety, the projects developed by IULIUS also benefit from hundreds of bike parking spaces, electric vehicle charging stations, excellent access to public transit, all of which helps reduce the use of personal vehicles and cuts pollution. They are also the only real estate projects in Romania to include urban gardens, which are initial investment upwards of € 17 million.

In 2021 IULIUS also obtained the first green loan granted by IFC to a Romanian company, in the amount of € 72 million for Palas Campus in Iaşi. The ample office project, set to open this spring, is also undergoing a dual green certification process: EDGE (Excellence in Design for Greater Efficiencies) by IFC and LEED by the US Green Building Council.

Impact announces delivery for the first phase of residential project in Constanta
Impact announces delivery for the first phase of residential project in Constanta 2000 1333 ROMANIA PROPERTY CLUB

07.03.2023

IMPACT Developer & Contractor has completed the first 209 apartments representing the first phase of the Boreal Plus residential compound in Constanta.

Boreal Plus, Constanta

The 209 apartments are located in three blocks and will be handed over to the new owners starting this month. At the same time, the developer also completed a 6-level parking building (S+P+4E) that includes 290 parking spaces. The building is equipped with electric car charging stations, two high-capacity elevators, and individual underground storage boxes . Boreal Plus thus becomes the first residential compound in Constanta with a multi-storey parking building, available for purchase by the residents.

The second development phase of the Boreal Plus compound in the north of Constanta will include 132 apartments, the entire project totaling 673 units with an estimated market value of over 84 million euro. The entire project also includes the construction of a private kindergarten, a park with playgrounds dedicated exclusively to residents, but also several commercial spaces.

IMPACT develops sustainable large-scale residential projects, getting involved in numerous social responsibility projects, for the benefit of the community. Thus, in December 2022, IMPACT completed the construction of a roundabout in Constanța city, located at the intersection between Tomis Boulevard and Amsterdam Street. The new roundabout improves road traffic both for the residents of the new Boreal Plus residential compound, as well as for those who live in the other neighborhoods located in the north of Constanta and for all those who transit the city towards Ovidiu and A2 highway, streamlining traffic and increasing safety on this section. The total investment in this public infrastructure project amounted to over 450,000 euro, the beneficiary being the National Road Infrastructure Administration Company (CNAIR) through the Constanta Regional Roads and Bridges Directorate.

WDP has budgeted investments of 80 million euros on the local market
WDP has budgeted investments of 80 million euros on the local market 1900 575 ROMANIA PROPERTY CLUB

06.02.2023

  • Craiova

The Belgian logistics space developer WDP, one of the largest logistics space developers present in Romania, will build a logistics center on an area of ​​6,200 square meters in the commune of Almaj in Dolj county, with an investment of 4.5 million euros. The building will function as a distribution center for the company Erkut, a supplier of the Ford car manufacturer, with a factory in Craiova.

WDP Warehouse

“The property is expected to be available in the second quarter of 2023. From that time, Erkut will enter into a seven-year lease,” WDP’s latest report said.

Another investment of WDP on the local market is the construction of a new warehouse in Timisoara, with an area of ​​33,000 square meters, which will be used both for storage and for production by a technology company. The investment for this project rises to 32 million euros.

In Slatina, WDP wants to expand an already existing project by over 48,000 square meters, with an investment of 36 million euros, by the third quarter of the year, and in Sibiu, it wants to expand the space occupied by Siemens by over 8,700 square meters based on a ten-year contract.

This development would be ready in the first quarter of 2024 and involves an investment of 6 million euros. In total, the investments planned by the Belgian group for Romania at the beginning of 2023 rise to 78.5 million euros.

Iulius opens second Family Market in Iasi, following a total investment of € 24 million
Iulius opens second Family Market in Iasi, following a total investment of € 24 million 1548 871 ROMANIA PROPERTY CLUB

09.12.2022

IULIUS inaugurated the second Family Market project, in the Bucium neighborhood of Iași. The proximity retail project brings services and products needed on a daily basis to the residential area that has seen constant development in recent years. McDonald’s Drive Thru, Auchan supermarket, Sinsay and 23 other local and national entrepreneurs provide the customized mix of products and services resulting from community consultation.

IULIUS Family Market – Bucium, Iasi

This year, IULIUS inaugurated two Family Market projects in Iași: the first in Miroslava commune, last summer, and now the one in the Bucium neighborhood. “It is an investment of 12 million euros and we have a retail area of 5,500 square meters, in which we have brought together 26 brands, which have created over 180 new jobs”, says Radu Pârlea, Shopping Center Manager Family Market. “Most are local and national, with fresh and healthy products, from florists, groceries, pastry shops, restaurants, to auto parts, barbershops and services that you need on a daily basis. The concept is designed to respond to the public’s interest in local consumption”.

The new project integrates a McDonald’s restaurant, the second location of the brand with Drive-Thru service and the fourth in the city of Iasi. The restaurant integrates the latest technologies, being equipped with digital screens for displaying menus, kiosks for ordering products. The anchor of the project is Auchan supermarket, a large format concept of more than 2,000 sqm, where customers can find more than 11,000 items on the shelves. The shopping offer is completed by: Sinsay, La Bottega, La Ciambella, Kosarom, Spartan, Fusion To Go (sushi), Dolciano, Dulcinella and Teo`s Café.

Cluj-Napoca: the IT&C hub in the heart of Transylvania.
Cluj-Napoca: the IT&C hub in the heart of Transylvania. 1200 800 ROMANIA PROPERTY CLUB

In the North-Western part of the country, Cluj-Napoca is one of the most important regional cities, gathering an impressive modern stock in terms of office, logistics and retail developments. With a county population of 740.020 inhabitants, out of which 325.179 are in Cluj – Napoca, the area is a magnet for investors from various domains. The value of the average month salary is 934 EUR, the unemployment rate standing at 2.1%.

According to CBRE, the office stock in Cluj-Napoca accounts for 353,300 sqm with prime rents at 15.50 EUR and a vacancy of 8%. The total leasing activity amounted to 2,700 sqm for the first semester of 2022, with the prime yield at 8.00%. The pipeline for 2022-2023 is estimated at 55,000 sqm.  Cluj – Napoca is one of the most prestigious academic, cultural, industrial, and business centres in Romania. Among other relevant institutions, it hosts one of the largest universities in the country, the Babeş – Bolyai University.

RECORD PARK CLUJ-NAPOCA

The modern retail stock accounts for 157,600 sqm, while the retail stock density (SQM/1,000 Inhabitants) reached the level of 485. The dominant projects in the city are VIVO! with 61,000 sqm and Iulius Mall, with 57,000 sqm, part of Iulius Group. Iulius Group announced earlier in 2022 a large mixed-use scheme, on the former Carbochim platform. The project will comprise among numerous functions and facilities the largest retail area in the country (115,000 sqm). It also proposes to become a model of integrated approach to green spaces, connecting the urban garden spanning on 4-plus hectares with the adjacent parks and a complete reconfiguration of the road and pedestrian infrastructure.

IULIUS CARBOCHIM CLUJ-NAPOCA

In terms of logistics & industrial, Cluj-Napoca is part of the West/Northwest Region, an area which collects 21% of the total 5,9 million sqm national stock. The local modern logistics stock in Cluj-county is 423,000 sqm, with a vacancy rate of 6.1% and a prime rent of 4.10 EUR. Cluj is an important industrial hub, connecting Romania’s western borders with the center region, creating a great logistic pole.

LOGISTICS CLUJ-NAPOCA

CREDITS: IULIUS COMPANY / E.ON RECORD PARK / FORTIM STUDY

Read more Property News on Cluj-Napoca

Timisoara: Romania’s gateway to Europe.
Timisoara: Romania’s gateway to Europe. 1200 800 ROMANIA PROPERTY CLUB

Located in the Western part of the country, Timis county is part of Romania’s main regional development hubs.

The county population gathers 760.284 inhabitants, out of which 318,296 are in Timisoara. The county’s GDP for 2021 stands at 12.4 billion EUR. The place to go through when exiting the country towards the Western Europe and the link with the Capital City through A1 highway pinpoints Timisoara as Romania’s gate to Western Europe, with excellent connectivity with Pan European corridors. Both national and international developers found Timisoara’s location, infrastructure development and the skilled labor force as great advantages for their future projects.

With a convenient location, near Hungary and Serbia borders, Timisoara benefits of good road connectivity and is Romania’s Southwestern university hub. The local office stock stands at 294,000 sqm, with prime rent at 14.5 EUR and a vacancy of 15%, according to data from CBRE Romania. Some of the key leasing transactions in H1 2022 include Atos, Access Group and Amazon at UBC 0 and 1 by Iulius.

UBC TIMISOARA

The modern retail stock accounts for 199,500 sqm, while the retail stock density (SQM/1,000 Inhabitants) reached the level of 607, as indicates data from CBRE. The city’s dominant retail projects are Iulius Mall with 93,000 sqm, part of Iulius Town mixed use scheme, in the portfolio of Iulius Group and Shopping City Timisoara with 56,900 sqm, part of NEPI Rockcastle portfolio.

IULIUS TOWN TIMISOARA

The logistic & industrial stock comprises 548,100 sqm, prime rent level is 3.85 EUR, while the vacancy rate stands at 7.4%. Timis county claims the largest share of modern industrial stock from the West & Northwestern region, hosting numerous production, logistics and storage facilities. VGP has a presence of over ten years in Timisoara, with one of the most modern industrial parks in Western Romania. The site offers six modern industrial buildings with an area of 155,000 sqm hosting tenants such as Quehenberger Logistics, Ericsson Continental, Hafele or Kathrein.

VGP TIMISOARA
Read more Property News on Timisoara

Iasi: “the tech darling” in North-East of Romania.
Iasi: “the tech darling” in North-East of Romania. 1200 800 ROMANIA PROPERTY CLUB

A strong university center, with two prestigious educational institutions – Alexandru Ioan Cuza University and Gheorghe Asachi Technical University – which together enroll around 40,000 students annually, Iasi has benefited from the well-trained workforce and attracted numerous investments from IT, BPO & SSC and auto industries. Subsequently, the local real estate market had a dynamic evolution, especially on the office & residential sectors. With a county population of 975,586, of which 391,024 are in Iasi, the annual GDP stands at 8 billion EUR.

With a well-educated workforce, Iasi attracted important employers, Amazon hosting here an important R&D center. The facility plays a major role in the city’s tech industry, employing skilled experts who are inventing new technologies in the fields of Cloud Computing, Information Security, Machine Learning and Data Analysis. Besides Amazon, Cognizant, Conduent, CRF Health, Almaviva, HCL, Basware, HCL, Basware, Accenture, E.ON, Harte Hanks are the major occupiers in the city. The office stock stands at 205,000 sqm, with a vacancy of 8% and a prime rent of 15 EUR, as indicates data from CBRE.

PALAS CAMPUS IASI

The modern retail stock reached 156,100 sqm, while the retail stock density (SQM/1,000 inhabitants) reached the level of 410. The city’s major retail schemes are Palas Mall (57,000 sqm) and Iulius Mall (25,000 sqm), both from the portfolio of Iulius Group and Mall Moldova (41,000 sqm) in the portfolio of Prime Kapital.

PALAS IASI

The logistic potential of Iasi is still untapped, considering the less developed infrastructure in the area and the city`s access to the Eastern routes of the country, which is less appealing for the institutional investors. Yet, several investors have started to show interest in the region in the recent years, most notably retailer Kaufland that works at its 3rd national logistic center in Miroslava.

LOGISTICS IASI
Read more Property News on Iasi

Brasov: airport to open new real estate opportunities.
Brasov: airport to open new real estate opportunities. 1200 800 ROMANIA PROPERTY CLUB

Benefiting from an excellent location, in the center of Romania and only 180 km from Bucharest, Brasov attracted investments on all segments of real estate market: residential, offices, retail, logistics and hotels. The new airport expected to be inaugurated in 2023 will bring new business opportunities.  A tourist destination in the very heart of the country, Brasov attracted numerous production facilities.

The annual GDP of the county reached 8.3 billion EUR in 2021. Brasov attracted a wide range of high-tech providers and pharma companies.

The modern office stock in Brasov stands at 155,300 sqm with prime rent at 13 EUR and a vacancy rate of 13.7%, as shown by CBRE Romania. Brasov hosts a wide range of high-tech providers, IT&C and pharma companies as well. NTT Data, Sykes, IBM, Cerner, Accenture, Ipsos, Xperi, Jungheinrich, Hiperdia are some of the major office occupiers in Brasov. One of the major mixed-used projects inaugurated here in recent years was AFI Brasov, a shopping mall and a 15,500 sqm office building.

AFI BRASOV

CBRE indicates that the modern retail stock accounts for 175,800 sqm while the retail stock density (SQM/1,000 Inhabitants) is 607. The main retail developments in the city are Coresi Brasov (59,000 sqm) from the portfolio of Nhhod and AFI Palace Brasov (45.000 sqm) from the portfolio of AFI Europe.

CORESI BRASOV

In terms of logistics & industrial, the modern stock is 306,000 sqm with a vacancy rate of 0.5% and a prime rent of 3.85 EUR. The city attracted last year an important international investor. After an active presence in the West part of Romania, Belgian-based VGP chose Brasov for a new development. VGP Brasov is developed on 39-hectare plot of land, the total park being able to host up to 180,000 sqm GLA of class A logistic spaces.

VGP BRASOV

An important touristic destination, Brasov is expected to attract new investors on this sector. JAKOB SONNE Resort will be developed by Certion on a 2 hectare plot in Poiana Brasov and includes 214 apartments. The project wears the signature of the famous Austrian architect Franz Janz.

JAKOB BRASOV
Read more Property News on Brasov

Constanta: untapped potential on office & logistic sectors.
Constanta: untapped potential on office & logistic sectors. 1200 800 ROMANIA PROPERTY CLUB

Located in the South-Eastern part of Romania, Constanta is a city holding tremendous development potential, due to its opening to the Black Sea and the Danube navigable channel, but which recently reached into the attention of large real estate developers. The modern office segment is not at all represented, the city holding no major office investment.

On the retail sector, the modern stock stands at 183,600 sqm, while the retail stock density (SQM/1,000 Inhabitants) stands at 586, according to CBRE. The city’s dominant retail projects are VIVO! Constanta (51,000 sqm), in the portfolio of Immofinanz and City Park (52,200 sqm) in the portfolio of NEPI Rockcastle.

VIVO! CONSTANTA

On the industrial & logistic sector, the first major modern project, Constanta Business Park, is developed on a plot of 100 hectares, near Constanta port, in partnership between Globalworth and Global Vision.

GLOBAL CONSTANTA

The residential sector attracted the largest share of investments from the entire real estate market. Besides the demand for new, modern units for the inhabitants of the city, the seaside area (Mamaia Navodari & Neptun-Olimp) also is seeing a notable development on the vacation homes sector.

BOREAL CONSTANTA

Some of the major investors include Impact, Gran Via, Certion, Maurer Imobiliare or One United Properties. Olimp resort in the South part of Romania’s coast is in full transformation, through investments of over 700 million euros until 2025. Romanian property developer Certion finalized here VOGH project. The 12-storey VOGH complex totals 173 apartments, out of which 85% have been sold, with a total value of 57.6 million euros.

VOGH CONSTANTA
Read more Property News on Constanta

Tarom wants to “open” Brasov-Ghimbav International Airport
Tarom wants to “open” Brasov-Ghimbav International Airport 800 600 ROMANIA PROPERTY CLUB

15.11.2022

The first commercial aircraft that will land on the runway of the new airport in Brașov will be a Romanian one, belonging to TAROM”, said Mihăiță Ursu, general director CEO of TAROM, during the discussions held on Monday with Adrian Veștea, the president of the Brașov County Council, and with Alexandru Anghel, the general director of Brașov-Ghimbav International Airport.

The consolidated schedule of activities regarding the opening of the Braşov-Ghimbav International Airport, agreed by the Braşov County Council, together with ROMATSA and the Romanian Civil Aviation Authority, provides that the airport will be operational in mid-June next year.

At Monday’s meeting at the Tarom headquarters, it was agreed to identify sustainable options for TAROM to be able to operate flights between Bucharest and Brasov, which could be possible at the end of next year at the earliest.

“TAROM carefully follows the market and once again proves to be a reliable partner of Romanians and beyond. We can discuss the operation of flights between Bucharest and Brașov and return, this only if the infrastructure of the future airport will allow it, emphasizing the conditionality that between the airport and the center of Brașov there should be, on a regular basis, integrated passenger transport services, but also the availability of services of the rent-a-car type for future passengers”, added the CEO of TAROM.

© Romania Property Club, 2023 — All rights reserved.

Start Typing