In the spotlight

Tech company spektr creates new career opportunities in Iași by expanding the engineering hub in Palas Campus
Tech company spektr creates new career opportunities in Iași by expanding the engineering hub in Palas Campus 948 906 ROMANIA PROPERTY CLUB

spektr, a Copenhagen-based tech company developing compliance process automation and digitization solutions for financial institutions and tech companies in 15-plus countries, is consolidating its presence in Romania by expanding its operations in Iași. Following the opening of a new office in Palas Campus, the company is launching new job opportunities and seeks to transform Iași into its main engineering hub.

The new head office in Palas Campus, developed by IULIUS Company in downtown Iași, spans an area of approximately 500 square meters and will support the Danish company’s expansion plans. spektr is developing a platform used by banks, fintech, and other companies in regulated industries for compliance process management, from customer verification and monitoring to investigations and risk management.

For spektr, the new location will play a strategic role as a product engineering hub, where the teams will work on developing the platform. The hub will accommodate the development and improvement of Big Data management systems, artificial intelligence-based solutions supporting information analysis and investigation preparation, as well as components ensuring the security, stability, and quality of the platform.

“We did not come to Iași to open a delivery type office. Our team here will develop essential components for the spektr platform, and Palas Campus provides us with the space we need in order to grow. The software engineering talent pool in Iași is world-class, and expanding our presence here is a natural step forward,” said Ciprian Florescu, spektr co-founder and Chief Technical Officer (CTO).

spektr’s expansion comes amid a period of rapid growth for the company, after securing $ 20 million in Series A funding in April 2026, raising the total funding up to $ 26 million. spektr is currently working with financial institutions and tech companies in more than 15 countries. The team includes more than 70 professionals and the plan for the hub in Iași is to reach approximately 25 employees by the end of this year and around 40 employees over the next 12 months, becoming the company’s largest engineering base.

“We are delighted that spektr chose Palas Campus for the new development phase of the company. Choosing an office space for a growing team is a major decision for any company, and Palas Campus offers the necessary flexibility for organizations expanding their operations. The business infrastructure, facilities and services available here help us create an environment supporting both team performance and the everyday experience of employees,” said Ionuț Pavel, Office Buildings Manager Palas Iași.

About spektr

spektr is a company specializing in compliance technologies and developing the system that banks, fintechs and other regulated entities use to launch and expand products without losing control over the risks. The company was founded in 2023 by Mikkel Skarnager, Ciprian Florescu, Jan-Erik Aabo Wagner, and Jeremy Joly.

About Palas Campus

Palas Campus is the largest office building in Romania (54,000 sqm office space and 6,000 sqm retail space), integrating the head offices of 13 companies, as well as 5,000+ employees. Opened in 2023 by IULIUS Company and designed as a continuation of the Palas mixed-use complex located nearby, Palas Campus includes facilities and services accessible to all, such as: gym, medical centers, restaurants, coffee shops, bistro, and a supermarket.

 

VGP announces strategic land acquisition for new VGP Park Oradea, Romania
VGP announces strategic land acquisition for new VGP Park Oradea, Romania 2560 1440 ROMANIA PROPERTY CLUB
  • VGP acquires 294,000 m² of land for the development of VGP Park Oradea, counting 133,000 m² of lettable area
  • The park will offer space for a diverse range of logistics, light industrial, and commercial activities
  • The project aims to obtain the BREEAM Excellent standard and comply with the EU Taxonomy

VGP, a pan-European owner, manager, and developer of high-quality logistics and light industrial real estate, announces the acquisition of a 294,000 m² land plot for the development of VGP Park Oradea, a new state‑of‑the‑art logistics and industrial park in western Romania. The future park will offer an initial total lettable area of 133,000 m² and will further strengthen VGP’s footprint within a rapidly expanding regional logistics corridor.

A strategic gateway between Romania and Western Europe

Ideally positioned just outside the city of Oradea, the new park is located 3 minutes from the DEx16 expressway and 15 minutes from the Borș border crossing, the busiest point on Romania’s western border with Hungary. It also offers swift access to Oradea International Airport and Oradea Railway Station. With direct links to major European transport routes and integration into key Pan‑European corridors, Oradea has emerged as a critical logistics hub in the western region. The area benefits from a solid economic base, a strong local ecosystem, and substantial public and private investment in infrastructure and industry. The park’s strategic location ensures seamless connections for companies engaged in cross‑border distribution, manufacturing, or regional supply chain operations.

High sustainability standards and customized technical solutions

VGP Park Oradea will provide 133,000 m² of high‑quality space suitable for logistics, manufacturing, and commercial activities. The new park will be designed to meet VGP’s high standards for sustainability, technological readiness and operational efficiency, supporting a very broad type of tenants looking for future-proof industrial and logistics facilities. Leveraging its in-house technical expertise, with engineers making up more than 60% of its employees, VGP will deliver customized, technologically advanced solutions tailored to diverse tenant requirements. The project aims to achieve the BREEAM Excellent certification and align with EU Taxonomy standards. Planned sustainable features include a photovoltaic system, EV charging stations, smart metering, and initiatives that enhance site biodiversity.

Strengthening VGP’s footprint in Romania

With the addition of VGP Park Oradea, VGP continues to expand its Romanian presence to serve growing market demand driven by manufacturing growth, e‑commerce expansion and increasing regional supply‑chain diversification. VGP Park Oradea is being added to a portfolio of strategically located industrial and logistics parks in Arad, Brașov, Bucharest, Timișoara and Sibiu. Since entering Romania in 2007, VGP has acquired more than 1.7 million m² of modern industrial space, offering nearly 900,000 m² of potential lettable area and integrating advanced sustainable solutions.

Swissôtel Poiana Brașov Expands with €11 Million Investment and 50 New Rooms
Swissôtel Poiana Brașov Expands with €11 Million Investment and 50 New Rooms 1921 2560 ROMANIA PROPERTY CLUB

Real estate developer Neagoe Basarab Residence is allocating an additional €11 million budget for the second phase of the Swissôtel Poiana Brașov expansion. The initial phase of the project, completed in September 2024, represented an investment of €18.5 million.

Upon completion of the expansion, the hotel will feature a new building wing housing 50 guest rooms, an expanded spa, and a large-scale conference center. The investment aims to secure major corporate contracts, with a particular focus on pharmaceutical industry events. Currently, the hotel’s event capacity is limited to a single 60-square-meter meeting room.

Despite booking platforms reporting an approximate 20% drop in overall tourism volume across Bucharest and Brașov, Swissôtel Poiana Brașov recorded a 20% increase in occupancy during the first half of the year compared to the same period last year. The business strategy focuses on reducing reliance on online travel agencies (OTAs); direct channels and the Accor loyalty program account for 50% to 60% of bookings, while domestic Romanian tourists make up 75% to 80% of total guests.

Concurrently, the developer is finalizing construction on a second hotel in Cristian, Brașov County, and is in negotiations to affiliate the property with the Radisson Blu brand.

For the initial phase of Swissôtel Poiana Brașov, the developer partnered with an extensive team of specialists, with Cumulus Architecture serving as the general designer. Restaurant interior design was spearheaded by Cristian Corvin, while landscape architecture was delivered by Poteca Studio. Engineering and site management services were provided by Plan Expert, Metrans, and Norrma.

Construction for the new expansion phase is scheduled to begin by the end of this year, with full project completion targeted for 2028.

Iulia IANA Joins the IMPACT Group as CEO of IMPACT Finance & Sales
Iulia IANA Joins the IMPACT Group as CEO of IMPACT Finance & Sales 775 832 ROMANIA PROPERTY CLUB

IMPACT Developer & Contractor, one of Romania’s leading real estate developers and a company listed on the Bucharest Stock Exchange, announces the appointment of Iulia IANA as CEO of IMPACT Finance & Sales, a company within the IMPACT Group specializing in sales, marketing, brokerage, commercial leasing, and IT services for projects developed by IMPACT.

The appointment is part of the IMPACT Group’s strategy to strengthen its integrated business model and accelerate commercial performance, in the context of a new phase of development focused on growth and operational efficiency.

In her new role, Iulia IANA will oversee the company’s commercial activities, with responsibility for sales, marketing, IT, and the development of commercial processes across the IMPACT Group’s portfolio of projects. Her mandate includes developing marketing and sales strategies, optimizing conversion and customer retention processes, enhancing commercial performance, and facilitating customers’ access to financing solutions for home purchases. In this position, she will contribute to the commercial strategy for projects within the IMPACT Group portfolio, including GREENFIELD Băneasa, ARIA Verdi, GREENFIELD Copou, and BOREAL Plus.

Iulia IANA brings more than 14 years of experience in marketing, strategy, and management across industries including real estate, automotive, and retail. Prior to joining IMPACT Finance & Sales, she served as Marketing Director at another real estate development company, where she led the marketing and communications strategy for the company’s portfolio and contributed to the development and positioning of both the corporate brand and its residential projects. Her expertise includes designing and implementing integrated marketing, digital, communications, and branding strategies, leading multidisciplinary teams, and managing marketing budgets, with a strong focus on linking marketing investments to lead generation, commercial opportunities, and sales performance.

“I am joining the IMPACT Group at a time when there is significant potential for further portfolio growth and, consequently, for enhanced commercial performance. My mandate at IMPACT Finance & Sales is to build an integrated commercial function in which marketing, sales, CRM, technology, and data operate as part of the same business process. The objective is simple: to establish measurable processes, gain the deepest possible understanding of our customers, and create a direct link between the investments we make and the commercial results we generate. I believe that a strong brand and commercial performance must be built together,” said Iulia IANA, CEO of IMPACT Finance & Sales.

“By strengthening IMPACT Finance & Sales, we aim to build a more integrated commercial structure, focused on performance and customer needs. Iulia brings relevant experience in real estate, brand development, and the management of integrated marketing and business strategies, at a time when IMPACT is undergoing its most extensive phase of growth and consolidation of its integrated business model. Her expertise and business perspective will further strengthen the Group’s strategic direction during this new stage of development,” said Dan Sebastian Câmpeanu, CEO of IMPACT Developer & Contractor.

In the coming period, IMPACT Finance & Sales will play a central role in supporting the IMPACT Group’s development plans by integrating marketing, sales, and financing functions into a unified commercial model. Strengthening this structure will help improve commercial efficiency, enhance the customer experience, and support the company’s growth objectives for both the residential projects currently in its portfolio and those under development.

BREC & RPC Rankings: The largest real estate asset owners in Romania
BREC & RPC Rankings: The largest real estate asset owners in Romania 1500 1000 ROMANIA PROPERTY CLUB

Bucharest, July28, 2026 – NEPI Rockcastle, AFI Europe Romania, and IULIUS lead the ranking of the largest shopping center owners in Romania; Globalworth, Pavăl Holding, and CPI Property Group head the top owners of office buildings; while CTP, WDP, and VGP top the list of the largest logistics and industrial park owners in the country, according to Q2 2026 data provided by the real estate consultancy firm iO Partners for BREC & RPC.

NO. TOP RETAIL REAL ESTATE OWNERS IN ROMANIA*
COMPANY NAME GROSS LEASABLE AREA (GLA – SQ M) MARKET SHARE %
1 NEPI Rockcastle                    939.800                                 20,2
2 AFI România                    325.500                                   7,1
3 IULIUS & Atterbury Europe                    320.000                                   6,9
4 MAS REI                    309.700                                   6,7
5 CPI Property Group                    238.702                                   5,2
6 Other Players                 2.498.300                                 53,9
7 Total                 4.632.002                                  100

* Stock includes shopping centers, retail parks, outlet centers, and hypermarkets with galleries, with a leasable area of at least 5,000 sq m. Source: iO Partners, Q2 2026.

NEPI Rockcastle currently has under development the expansion of Promenada Mall Bucharest by 55,400 sq m (including office space and a hotel), as well as the new Galați Retail Park project (42,000 sq m GLA), both with delivery scheduled for 2027.

AFI Europe Romania recently acquired a stock of 125,500 sq m, comprising six retail parks, from MAS REI – a transaction that moved the developer up one spot in the ranking.

IULIUS & Atterbury Europe have commenced construction on the RIVUS mixed-use project in Cluj-Napoca, which will feature a commercial area with over 400 stores across 142,000 sq m GLA, along with an office component. IULIUS has also initiated a large-scale mixed-use project in Constanța, currently in the concept development stage, which will include retail and office space on a 38-hectare plot. Additionally, IULIUS has started the redesign and extension of Palas Iași shopping center, adding 16,000 sq m of retail GLA, bringing the total project footprint to 80,000 sq m. This year, the company will also inaugurate its third Family Market – a convenience retail concept – in the Iași metropolitan area. With 13,000 sq m of retail GLA, the project features a supermarket, drive-thru, fitness center, and daily essential services.

MAS REI reduced its portfolio from over 400,000 sq m to 309,700 sq m and moved down in the rankings following the sale of its 6 retail parks to AFI Europe Romania.

CPI Property Group is undergoing a complex modernization process of Sun Plaza, one of the primary shopping malls in its Romanian portfolio.

The top five retail property owners account for over 46% of Romania’s total modern retail stock.

NO. TOP OFFICE BUILDING OWNERS IN ROMANIA*
COMPANY NAME GROSS LEASABLE AREA (GLA – SQ M) MARKET SHARE %
1 Globalworth                    443.100                                   9,8
2 Paval Holding                    354.200                                   7,9
3 CPI Property Group                    280.000                                   6,2
4 AFI România                    274.000                                   6,1
5 IULIUS                    260.000                                   5,7
6 Other Players                 2.909.000                                  64,3
7 Total                 4.520.300                                   100

* Stock includes modern Class A and B office buildings for rent, built or renovated since 2000, with a leasable area of at least 2,000 sq m, located in Bucharest, Cluj-Napoca, Timișoara, Iași, and Brașov. Source: iO Partners, Q2 2026.

Globalworth broke ground at the end of 2025 on Green Court D in Bucharest (16,500 sq m), scheduled for delivery in 2027.

Pavăl Holding’s most recent move in the office sector was the 2025 acquisition of Ethos House (7,300 sq m) in the Floreasca area of Bucharest.

CPI Property Group sold a portion of the Iride Business Park complex in Bucharest (approx. 60,000 sq m) to Alfa Group in 2025.

AFI Europe Romania is developing the AFI Central Tower office building in Bucharest – a 28,100 sq m conversion of the former Bancorex building on Calea Victoriei scheduled for completion in 2028 – as well as AFI Park Brașov 2 (12,000 sq m), set to be delivered in 2027.

IULIUS has started construction on the Rivus mixed-use development in Cluj-Napoca and is planning a mixed-use project in Constanța, both featuring major office components.

The top five office property owners represent 35% of the total modern office stock in Romania.

NO. TOP LOGISTICS & INDUSTRIAL PARK OWNERS IN ROMANIA*
COMPANY NAME GROSS LEASABLE AREA (GLA – SQ M) MARKET SHARE %
1 CTP                 3.321.500                                 37.9
2 WDP                 2.058.300                                 23,5
3 VGP                    585.000                                   6,7
4 P3 (GIC)                    380.000                                   4,3
5 Logicor (CIC)                    331.200                                   3,8
6 Other players                 2.089.500                                 23,8
7 Total                 8.765.500                                  100

* Stock includes rental space in Class A and B industrial and logistics parks, built or renovated since 2000, with a leasable area of at least 5,000 sq m (excluding temperature-controlled units, which may be under 5,000 sq m). Source: iO Partners, Q2 2026.

CTP aims to surpass the 4 million sq m threshold in the coming years, primarily through the expansion of CTPark Bucharest West and CTPark Bucharest South.

WDP plans to expand by nearly 200,000 sq m by 2027 through ongoing pipeline projects, mostly located in Bucharest.

VGP is nearing the 600,000 sq m mark following deliveries exceeding 120,000 sq m in the first half of this year.

P3, owned by Singapore’s sovereign wealth fund GIC, continues to target the sale of its Romanian portfolio, with a transaction expected before the end of this year.

Logicor focuses on expanding around Bucharest, with plans to deliver approximately 30,000 sq m by the end of 2027.

The top five industrial players control approximately 76% of Romania’s total modern industrial and logistics stock (production and warehousing).

“The ranking of real estate asset owners in Romania tells a compelling story of market confidence. Romanian capital stands today alongside capital from the Czech Republic, South Africa, Israel, the Netherlands, Belgium, Singapore, and China across portfolios totaling nearly 18 million square meters, valued at tens of billions of euros. This proves that the Romanian real estate market has reached sufficient maturity and profitability to attract long-term investors with a highly diversified profile.” – Despina Ponomarenco, Founder of BREC & RPC.

Renewable Energy Projects Become Vitalis Consulting’s Main Growth Driver: Two New Photovoltaic Parks Signed in Q1 2026
Renewable Energy Projects Become Vitalis Consulting’s Main Growth Driver: Two New Photovoltaic Parks Signed in Q1 2026 2560 1706 ROMANIA PROPERTY CLUB

Vitalis Consulting, one of Romania’s leading project management and construction consultancy companies, concluded the first quarter of 2026 with a strong acceleration of its renewable energy business, which has emerged as the company’s primary growth driver.

“The strongest momentum has been recorded in the photovoltaic and energy storage segments, as investors increasingly focus on energy efficiency, sustainability and long-term returns. This market is supported both by growing investor interest and by the funding opportunities available for such developments. We see this segment as a strategic pillar for the company’s future growth,” said Alexandru Samoilă, Managing Director of Vitalis Consulting.

Two New Photovoltaic Parks Signed in Q1

During the first quarter, Vitalis Consulting secured two major renewable energy projects. The first is the Mărunței Photovoltaic Park, located in Olt County, with an installed capacity of 60.88 MW and a 100.30 MWh Battery Energy Storage System (BESS).

The second project is the Gârla Mare Photovoltaic Park, located in Mehedinți County, with a total installed capacity of 2 × 63 MW, complemented by two BESS installations with capacities of 50 MWh and 100 MWh, respectively.

For both projects, Vitalis Consulting will provide integrated project management, site management, construction supervision and Health & Safety (H&S) coordination services.

These new developments reflect the accelerating pace of renewable energy investments in Romania and further strengthen Vitalis Consulting’s position in a strategic sector with significant long-term growth potential. At the same time, the company is in advanced negotiations for several additional projects, some of which are close to being signed.

Industrial and Hospitality Sectors Continue to Deliver Solid Growth

Beyond renewable energy, the industrial sector remains a strategic business line, particularly in logistics and automated warehousing infrastructure, where Vitalis Consulting leverages its experience gained through more than 80 industrial projects, covering over 600,000 square metres.

The hospitality sector also continues to represent an important growth area, with seven hotel developments currently underway across Romania, representing combined investments exceeding EUR 300 million.

During the first half of the year, the company was involved in projects including H East Residence, a residential development that will deliver 568 apartments, 824 parking spaces and an integrated retail component, as well as a logistics development in Câmpia Turzii, incorporating advanced warehousing and operational technologies. The latter is a relevant example of the ongoing evolution of Romania’s logistics sector and cold chain infrastructure.

A Challenging Yet Supportive Environment for Strong Projects

The company’s positive performance comes amid an economic environment characterised by persistently high financing costs, inflationary pressures and longer investment decision cycles.

Despite these challenges, Vitalis Consulting remains optimistic, relying on the flexibility and adaptability it has built over 20 years of activity.

Looking ahead, the company will continue expanding its portfolio in the industrial and energy sectors while strengthening its presence in hospitality and healthcare projects. At the same time, it plans to further invest in digitalisation, automation and the expansion of its technical due diligence services.

2026 marks a significant milestone for Vitalis Consulting, as the company celebrates 20 years of operations on the Romanian market.

Europe’s largest private bioremediation project underway in Constanța
Europe’s largest private bioremediation project underway in Constanța 1918 1080 ROMANIA PROPERTY CLUB

In central Constanța, on the site of the former Oil Terminal platform, real estate developer IULIUS has launched the largest bioremediation project ever undertaken by a private investor in Europe.

The soil remediation phase represents an investment exceeding €29 million. It marks the second stage—following extensive archaeological surveys—of a broader €800+ million urban regeneration initiative aimed at transforming 38 hectares of contaminated industrial land, left idle for over a decade, into a vibrant, mixed-use district.

HISTORICAL CONTEXT

The site carries a heavy industrial legacy: for nearly a century, it housed an oil storage depot featuring more than 30 petroleum product tanks. Given the age of the facilities and the site’s proximity to the city center after eight decades of operation, traditional mechanical remediation was no longer viable.

The breakthrough came from Romanian scientific research. Specialists at the National Research and Development Institute for Soil Science, Agrochemistry and Environmental Protection (ICPA Bucharest) developed a proprietary formula using natural microorganisms isolated directly from the contaminated soil to biodegrade petroleum hydrocarbons. The non-genetically modified bacterial strains pose no risk to human health or the environment, leveraging an enhanced natural degradation process to significantly shorten the site’s recovery timeline.

THE THREE-STAGE BIOREMEDIATION PROCESS

The entire process is being conducted fully on-site through three distinct phases:

  • Soil Bioremediation: Excavated earth is sorted, processed, and arranged into biopiles—structured mounds mixed with compost and organic fertilizers. These are inoculated with the selected microorganisms and maintained under optimal moisture, temperature, and aeration conditions.
  • Contaminant Isolation: A high-density geomembrane lines the base of the excavation, physically preventing any horizontal or vertical migration of pollutants.
  • Groundwater Treatment: A hydrogeological barrier consisting of perimeter wells diverts contaminated groundwater to an on-site treatment facility. The purified water is then recycled for safe operational uses, such as site cleaning and green space irrigation.

INTEGRATED MULTIDISCIPLINARY EXPERTISE

The project brings together top-tier international and domestic expertise. Dr. Anca-Rovena Lăcătușu, Head of Laboratory at ICPA Bucharest, developed the bio-inoculum technology. Water treatment operations are handled by Hoelscher Wasserbau, a leading German environmental engineering firm with over 60 years of industry experience. Engineering design was overseen by Auditeco, led by Cicerone Ionescu, bringing nearly three decades of expertise in environmental compliance and remediation.

To scale the technology, IULIUS invested over €420,000 in research infrastructure:

  • ~€300,000 to equip an ICPA laboratory dedicated to microorganism cultivation.
  • ~€120,000 to establish a chemical analysis laboratory at Ovidius University in Constanța.

VISION: “CONSTANȚA 365”

Beyond environmental restoration, the ultimate goal is urban transformation. IULIUS is advancing Romania’s largest urban regeneration concept—a mixed-use master plan designed by world-renowned architecture firm Foster + Partners to establish Constanța as a year-round destination.

The development will feature cultural and educational venues, retail, office space, entertainment, sports facilities, and a central park with a botanical garden (supported by Dobrogea’s first dedicated tree nursery, where over 1,100 mature trees have already been acclimatized). The master plan also prioritizes sustainable mobility through extensive pedestrian, cycling, and road networks.

Under the tagline “Nature works. Science helps. Constanța wins,” the initiative sets a benchmark for industrial brownfield redevelopment—converting a decades-old environmental liability into a safe urban asset while paving the way for similar soil restoration projects across the region.

Port of Constanța acquires Giurgiulești Port in Moldova & signs agreement with UAE’s AD PORTS GROUP
Port of Constanța acquires Giurgiulești Port in Moldova & signs agreement with UAE’s AD PORTS GROUP 2309 1299 ROMANIA PROPERTY CLUB

Following the exceptional years driven by Ukrainian transit, the Port of Constanța has entered a clear stabilization phase. Freight traffic through the port totaled 67.5 million tonnes in 2025, marking a 12.6% decline compared to 2024. For context, 2023 remains the benchmark year, when the port reached a record high of 92 million tonnes of cargo handled. As such, the decline over the past two years reflects a return to structural levels rather than an operational crisis.

The drop was even more pronounced along inland waterways: cargo volume on the Danube–Black Sea Canal reached 14.5 million tonnes in 2025—down 21.1% from 2024. Total ship transits fell from 25,683 to 21,906 (−14.7%), with foreign-flagged vessel transits dropping by 30.6%. This downward trend was apparent from early in the year, with Q1 2025 traffic standing at 15.4 million tonnes (−27% year-over-year).

Key Drivers Behind the Decline

Two primary factors account for the lower volumes:

  • Flow Normalization: Traffic adjusted downward as Ukrainian ports resumed regular operations, reducing the surge in grain transits that inflated figures throughout 2022 and 2023.
  • Domestic Headwinds: Port operators cite rising inflation and sharp tax increases as key drivers, both of which have weighed on labor capacity and future investment plans.

ONGOING INVESTMENTS IN 2026

In contrast to the traffic downturn, the port’s capital expenditure pipeline is accelerating, aimed at bolstering long-term competitiveness:

  • Hinterland Expansion: The acquisition of the Giurgiulești International Free Port was finalized on April 21, 2026—a strategic move expanding Constanța’s regional reach. Romanian authorities have committed to long-term development investments in Giurgiulești to boost capacity, modernize infrastructure, and solidify its position across the Black Sea and Danube basins. The port is also well-positioned to play a pivotal role in Ukraine’s future reconstruction.
  • Dredging Works: A €180 million dredging program across maritime ports (Constanța and Midia) is underway throughout 2025–2026.
  • Rail Infrastructure Upgrade: On February 4, 2026, the winning bidder was announced for Stage III of the rail infrastructure modernization project in the Port of Constanța.
  • EU Funding Absorption: Over €500 million in EU funds is being channeled into road network upgrades, electrical grid enhancements, water and supply networks, and dredging.
  • Strategic Foreign Direct Investment: Representatives from Abu Dhabi Ports Group (AD Ports Group) have voiced formal interest in major investments, with a focus on Piers 3 and 4.
  • Road & Access Connectivity: Works began in April 2026 on a 24 million RON project to rehabilitate and expand port roads and overpasses over a 24-month period, addressing a recognized imbalance between road and rail capacity.

RPC Talks with Ștefan Gheorghiu, Managing Partner, 4Biz Properties
RPC Talks with Ștefan Gheorghiu, Managing Partner, 4Biz Properties 646 631 ROMANIA PROPERTY CLUB

RPC Talks with Ștefan Gheorghiu

Managing Partner, 4Biz Properties

Company Profile

The Seller & Partners is a prominent, independent real estate agency based in Brașov, Romania. Founded in January 2025, the firm specializes in trading high-end and new-construction properties, connecting local sellers with international capital.

Supply Dynamics: How is the supply landscape in the Iași region shifting after years of being the “Cinderella” of the national logistics market? What are the main projects under development, and what new logistics hubs are emerging?

Ștefan Gheorghiu: Iași is entering a new chapter. After years of being considered the “Cinderella” of the national logistics market, supply is beginning to structure itself around major developers and Class A projects. While it is not yet a mature market like Bucharest, Timișoara, or Cluj, the difference now is that Iași is no longer just a promise—it is becoming a tangible logistics destination.

The primary projects remain Proinvest, ELI Park Iași, Olympian Parks, and Oresa Industra. A major highlight is WDP’s entry into the market through the acquisition of the Proinvest park—a transaction valued at over €20 million, which serves as institutional validation for Iași. Additionally, another project of approximately 20,000 sq m is currently in the permitting phase, which could bring further liquidity to the market.

In terms of growth hubs, I would particularly look at the Lețcani–Miroslava area in connection with the A8 motorway. This is driven by both its proximity to the Pașcani–A7 junction and its strong connectivity potential toward Ungheni and the Republic of Moldova. The A8 is becoming vital, not merely as road infrastructure, but as a strategic element capable of repositioning the entire Moldavia region on Romania’s logistics map.

Tenant Profile: Who is driving demand in 2026, given the large number of projects currently under construction?

Ștefan Gheorghiu: In 2026, demand is being driven primarily by regional and national players rather than global mega-tenants. We are seeing strong interest from distribution companies, FMCG, retail, e-commerce, courier services, building materials, light manufacturing, and related services.

Iași holds an interesting strategic position: it doesn’t compete purely for storage, but rather for a blend of regional distribution, proximity to the Republic of Moldova, and access to a strong labor pool. For many occupiers, Iași can serve as a comprehensive hub for northeastern Romania, far beyond a mere local outpost.

Operational Challenges & Costs: How significantly have industrial land prices risen alongside the progress of major infrastructure projects?

Ștefan Gheorghiu: Industrial land prices have risen visibly, particularly in locations offering good infrastructure access, utilities, and proximity to primary roads. I wouldn’t call the market overheated, but landowners have begun pricing in the anticipated impact of the A8 motorway and the entry of major institutional developers.

The main challenge is that not every “industrial” plot is ready for immediate development. The true differentiators are road access, utility capacity, zoning status, electrical grid power, and permitting timelines. In Iași, the real cost isn’t just the land price—it’s the time-to-market. Consequently, shovel-ready land with clean zoning, access, and utilities will remain both scarce and expensive.

Nearshoring: Are Western companies moving production from Asia or high-risk zones closer to the EU, selecting Iași or northeastern Romania for its competitive labor costs?

Ștefan Gheorghiu: Yes, nearshoring is a real trend, but we need to look at Iași through a realistic lens. We are not yet seeing a massive wave of Western companies relocating production directly from Asia to Iași, but we are seeing a shift in strategic logic. Companies are actively seeking locations closer to the EU that offer greater stability and predictability than far-flung or geopolitically exposed markets.

Iași and northeastern Romania are well-positioned with competitive labor costs, strong universities, a large demographic basin, and proximity to the EU’s eastern border. However, for large manufacturing projects, final decisions hinge on infrastructure delivery, technical workforce availability, and permitting predictability.

I would describe Iași as currently being in a regional logistics consolidation phase, which precedes a mature industrial nearshoring phase. The potential is undeniably there, but it will be unlocked as transport infrastructure and the supply of modern space continue to solidify.

Iași Steps Into the Modern Logistics Spotlight
Iași Steps Into the Modern Logistics Spotlight 2560 1829 ROMANIA PROPERTY CLUB

Iași is entering a new phase of industrial development, driven by two major infrastructure catalysts: the A7 motorway (Ploiești–Siret)—set to reach Pașcani by the end of this year—and the A8 motorway (Târgu Mureș–Iași–Ungheni), currently in its early stages with full completion targeted for 2030. Once finished, these two transport arteries will fully integrate the Moldavia region into Romania’s national transport grid and open direct corridors toward the Republic of Moldova and Ukraine—a compelling proposition for logistics and industrial operators eyeing the region.

Current Stock and Pipeline

Despite growing investor appetite, Iași County has historically suffered from an undersupply of modern industrial space. However, the market is shifting rapidly. Over 50,000 sq m are currently under construction, with completions scheduled for 2025–2026:

  • ELI Park Iași (Element Industrial) — 20,000 sq m (2025 delivery)
  • Industra Park Iași (Oresa Ventures) — 16,000 sq m (under development)
  • Proinvest Park Miroslava (Proinvest) — 16,000 sq m (under construction)

An additional 125,000 sq m are in the planning pipeline. According to real estate consultancy iO Partners, this expansion is set to double Iași’s modern industrial stock within a relatively short timeframe.

Rental Rates

Prime Class A industrial and logistics rents in Iași County currently range between €4.2 and €4.6 per sq m per month, depending on unit size and lease terms. Class B properties offer lower-cost alternatives, catering to price-sensitive tenants.

Demand Breakdown

The tenant mix closely reflects the city’s broader economic footprint. The automotive sector historically commands the largest share of occupied space (35%), followed by pharmaceuticals (27%) and retail/FMCG (17%). Pure-play logistics remains underrepresented compared to other Romanian hubs at just 12%—a gap that presents a clear upside and growth opportunity as motorway connectivity improves.

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