In the spotlight

IULIUS launches TILIA – Today’s Ideas and Leadership In Action (Summit of Romanian Cities), in partnership with the European Bank for Reconstruction and Development (EBRD)
IULIUS launches TILIA – Today’s Ideas and Leadership In Action (Summit of Romanian Cities), in partnership with the European Bank for Reconstruction and Development (EBRD) 2560 1707 ROMANIA PROPERTY CLUB
  • IULIUS launches new national initiative dedicated to concrete solutions for the development of Romanian cities.
  • The first edition of TILIA Romanian Cities Summit will take place in Iasi on April 23-24, 2026.
  • Over 300 leaders from administration, investment and financing, architecture and civil society gather in Iasi to discuss urban planning and mobility, public-private partnerships and affordable housing.
  • EBRD, one of the largest institutional investors in Romania and a leader in urban regeneration and sustainable real estate, joins TILIA as strategic partner to advance practical, finance‑ready solutions for greener, more inclusive cities.
  • First ever architectural exhibition from Foster + Partners, a renowned international architecture firm, to open to public at the Palace of Culture in Iași. Available for visit April 7 – May 3, 2026.

IULIUS announces the launch of TILIA – Today’s Ideas and Leadership In Action, a national initiative dedicated to concrete solutions for the development of Romanian cities. Implemented through the IULIUS Foundation, TILIA marks the beginning of an annual initiative of dialogue and collaboration for urban development. The first edition of the Romanian Cities Summit will bring together, on April 23–24, 2026, at the Palace of Culture in Iași, over 300 mayors, architects, urban planners, representatives of international financial institutions, academia and civil society, to build together applicable solutions for a better life in Romania’s cities. The summit will be complemented by a national premiere architecture exhibition that can be visited at the Palace of Culture between April 7 and May 3.

The ambition of the initiative is to become an annual benchmark for all actors involved in the transformation of cities in Romania – a space for dialogue in which the urban vision is directly connected with concrete financing and implementation mechanisms, in order to generate real solutions and collaborations that can be put into practice.

“We often talk about cities either in terms of the future or looking backwards. Through TILIA we want to bring the conversation to the present, to what we can do concretely, today, for the cities in which we live. We thought of this approach as a framework in which administrations, investors, architects, academia and civil society work together, not only to generate ideas, but to transform them into applicable solutions, based on real examples and on the application of lessons learned and on the exchange of good practices” said Raluca Munteanu, Development Director, IULIUS.

“The EBRD is delighted to partner with IULIUS in TILIA, bringing Romania’s cities into the spotlight and working together to chart practical pathways towards greener urban spaces, better housing standards and more inclusive communities. We’re excited to lend our expertise to drive the initiative forward.” said Victoria Zinchuk, EBRD Director, Head of Romania.

Future Proof: Foster + Partners architectural exhibition (April 7 – May 3, 2026, Palace of Culture, Iași)

One of the key moments of the first edition is the exhibition, Future Proof by Foster + Partners, presented for the first time in Romania. Recognized worldwide for emblematic projects on six continents and built projects in over 45 countries, Foster + Partners will bring to the Palace of Culture in Iasi 30 models, 3D modulations of representative international projects.

The opening of the exhibition will take place on April 7, 2026, and the works can be visited until May 3, 2026 at the Palace of Culture in Iași – offering the general public, but also professionals in the field, the opportunity to explore decades of world-renowned architecture and urbanism, from Apple Park to the Great Court at the British Museum, the Reichstag (the new building of the Berlin

The exhibition reflects Foster + Partners’ approach to architecture and urbanism, built over more than five decades, around responsible, adaptable and sustainable design. From interventions on historic buildings to masterplans for low-carbon cities and urban systems, the projects presented explore how infrastructure, energy and public spaces can contribute to the development of resilient communities.

Maximilian Zielinski, Senior Partner, Foster + Partners, said: “This is an exciting opportunity to present over five decades of the practice’s work to the people of Iași – inside an incredible building that is the centrepiece of our new masterplan for the historic area. The exhibition sheds light on our approach, which has always been defined by a future-facing commitment to innovation and responsible design”.

During the TILIA – Today’s Ideas and Leadership In Action, the exhibition will be complemented by a masterclass held by the Foster + Partners team, giving architects, urban planners and decision-makers the opportunity to dialogue directly about the application of these principles in real projects.

IULIUS entered a new strategic phase in its development and partnered with Foster + Partners on two projects that were underway: the redevelopment of the Palas mixed-use complex adjacent to the Palace of Culture in Iași, and a vision for the urban regeneration of 38 hectares of former industrial land in central Constanța.

Romanian Cities Summit: from vision to implementation (April 23-24, 2026, Palace of Culture, Iași)

The first edition of the Romanian Cities Summit is built around the idea that cities transform when vision and implementation are approached together.

Day one, April 23 – Urban Vision and Design – explores the principles behind vibrant and people-oriented cities, with international perspectives and case studies in urban regeneration.

The next day, April 24 – Financing and implementation – moves the discussion from vision to concrete mechanisms: financing urban projects, structuring public-private partnerships and solutions for one of the most pressing urban challenges: affordable housing.

Full agenda is available on TILIA official website.

On the main stage, representatives of commercial banks, international development finance institutions together with public policy experts will debate the current challenges of cities – from financing to the legislative framework – with the aim of generating solutions that can then be taken over by all the actors involved.

In parallel, on the second stage, Cities in the Making: Design, Culture and Nature explores the forces that shape the character of a city – from architecture and creative industries, to mental health and green infrastructure.

At TILIA – Today’s Ideas and Leadership In Action, the Romanian Cities Summit, an event held between April 23-24, in Iași, over 300 participants – mayors, architects, urban planners, representatives of academia and civil society – are expected to discuss concrete solutions for the development of cities in Romania.

About TILIA – Today’s Ideas and Leadership In Action

TILIA – Today’s Ideas and Leadership In Action, the Summit of Cities in Romania, is an initiative developed by the IULIUS group, through the IULIUS Foundation, dedicated to concrete solutions for the development of cities in Romania.

TILIA is designed as an annual initiative, which brings together public administrations, investors, financial institutions, architects, academia and civil society in an implementation-oriented framework of dialogue and collaboration.

TILIA aims to become a benchmark for collaboration between actors involved in urban development in Romania.

Details: www.tilia-summit.ro

IULIUS and Atterbury Europe have started construction on RIVUS Cluj-Napoca, the largest urban reconversion real-estate development underway in Romania
IULIUS and Atterbury Europe have started construction on RIVUS Cluj-Napoca, the largest urban reconversion real-estate development underway in Romania 1000 500 ROMANIA PROPERTY CLUB

RIVUS Cluj-Napoca, the project developed by IULIUS and Atterbury Europe, is entering the implementation phase. With an investment estimated upwards of half-billion Euro, this is the most extensive real-estate development underway in Romania. The endeavor is transforming Carbochim, the former industrial platform now relocated and upgraded, into a landmark destination with a mix of uses customized to the dynamics of Cluj-Napoca City: cultural, educational, entertainment, office, retail, park, and outdoor leisure spaces. The concept was designed together with the notorious international architecture firm UNStudio, and emphasizes sustainability, fluid integration, community and local identity – https://www.youtube.com/watch?v=AEyhkj7fbYA&feature=youtu.be.

  • More than 550 million Euro in transforming 14 hectares of brownfield into a regional urban destination
  • Reconversion of two industrial heritage buildings and integrating them in the cultural and public circuit.
  • Largest leasable retail area – 142,000 sqm, with more than 70% thereof already pre-leased.
  • 400-plus stores, national and regional premieres, concepts highly anticipated by the community: Cineplexx (including IMAX technology and outdoor cinema), JUMBO, Hype by Kiddo entertainment concept, the largest Cărturești concept-bookstore, Auchan hypermarket, etc.
  • Cultural and entertainment hub for all ages, with regional impact.
  • The largest green syndicated loan granted to a real-estate development in Romania – 400 million Euro, conditional upon the LEED Platinum and EDGE Advanced standards.
  • Providing accessibility to the Someș riverfront, adjacent to the project, for the community, including via a green connection with the nearby parks (Feroviarilor Park and Armătura Park).
  • A new park spanning 52,000 sqm, with 700 mature trees, more than 100,000 decorative plants, green roof and green façades.
  • Implementing the mobility strategy – four lane road bridge and two pedestrian walkways across Someș, upgraded perimetral streets, etc.
  • 7 million Euro – investment in relocating and upgrading Carbochim factory.

RIVUS Cluj-Napoca entails the reconversion of an underutilized former industrial platform into an integrated mixed-use complex, open to the community and focusing on cultural, green, office, retail and entertainment uses. Designed as a socioeconomic development hub for Cluj-Napoca, the project supports key directions in the city’s urban strategy, including the consolidation of the green-blue corridor by landscaping the Someș riverfront and making it accessible.

Last year, this project was the beneficiary of the largest financing contract granted to a real-estate development in Romania, in the amount of 400 million Euro. Structured as a syndicated green loan between Erste Bank (Lead Arranger), BCR, EBRD and BRD, the financing is conditional upon the achievement and maintenance of the highest international sustainability standards (LEED Platinum and EDGE Advanced) and covers the entire investment cycle, from development and operation to refinancing. The concept for this project was developed in collaboration with the prestigious international architecture firm UNStudio and is based on in-depth market analyses and an extensive community consultation process, so it strategically caters to the public’s expectations for the mix of uses and the urban experience provided.

“RIVUS was designed as a mixed-use project, navigating around three essential directions: nature, culture, and family-oriented entertainment solutions. The project will give back to the city what has been previously a publicly inaccessible area, integrating it naturally in the urban structure and routes of Cluj City. The concept being tailored to the residents’ expectations and to the needs and development goals of the city, as well as the expertise and partnerships consolidated by IULIUS during its 25 years of business operation in the market, are the main aspects that gained the trust of our lenders and partners in this project. We are building a landmark project for the Romanian real-estate market, that draws significant interest from retailers, as evidenced by our lease occupancy ratio that is already upwards of 70%, which to us is a clear indicator of market confidence in the concept and its long-term potential. We are confident that RIVUS Cluj-Napoca will be a landmark for urban regeneration nationwide and beyond, a complex with an identity of its own, built together with and for the community, designed to be an active part of the city, and steadfastly focused on the future,” said Sorin Guttman, RIVUS project Manager.

The most extensive urban lifestyle destination in Romania

RIVUS Cluj-Napoca will be the most extensive lifestyle center in Romania and a major hub for the entertainment segment nationwide. The project will feature more than 400 stores and a total leasable retail area spanning 142,000 sqm, in a complete mix of fashion, beauty, sports, jewelry, health & wellness, services, food & beverages, home & deco, entertainment, educational and cultural uses, etc. RIVUS will bring regional and national premieres to Cluj, including the most highly anticipated brands as indicated by the market studies conducted in the region: JUMBO, the IMAX technology introduced by Cineplexx for the first time in the region, the largest Cărturești concept-bookstore, HYPE by Kiddo’s entertainment center for all ages, Auchan hypermarket. The offer will be complemented by concepts developed by local entrepreneurs, which will represent more than 20% of the mix. Furthermore, the gastronomic scene will feature approximately 30 concept-restaurants and themed coffee shops, including notorious international brands, as well as national concepts.

The cultural component marks a strategic pillar of this project, by reconverting two industrial heritage buildings and integrating them in the public circuit. The former furnace hall, namely the Arcade Hall, will be transformed into a live arts center, operated in partnership with the local cultural community, while the former red brick façade administrative building, an icon of the industrial history of the area, will continue to accommodate administrative and public service uses.

A new green urban hub, supported by efficient integrated mobility

A defining element of the project is the green component, a hallmark of IULIUS’ urban regeneration projects. RIVUS will integrate 52,000 sqm of landscaped green spaces, directly connected to Feroviarilor Park and Armătura Park, contributing toward the expansion and consolidation of the green infrastructure in the area up to a total area of 140,000 sqm. The landscaping concept integrates a roof garden and green façades, as well as the planting of more than 100,000 decorative plants and 700 mature trees, with the latter currently acclimating in a nursery accommodated by the Cluj-Napoca University of Agricultural Sciences and Veterinary Medicine (USAMV Cluj), so that the project offers a high level of environmental comfort from the very first day of operation.

The project will be sustainable down to the smallest details: nZEB building development, design showcasing and securing a connection with Someș River, using natural materials, maximizing natural lighting levels in indoor spaces, as well as energy efficiency, infrastructure conducive to environmentally friendly transportation, alleys that allow for water circulation, landscaping geared towards supporting biodiversity, renewable energy production, etc.

The project enjoys a strategic position, with regional accessibility and direct connectivity to the existing urban grid, and the investments undertaken by IULIUS in the agreement signed with the Municipality will substantially contribute in upgrading the mobility infrastructure in the area. The list of works thereunder features the building of a new road bridge across Someș River, including four lanes, sidewalks and bicycle lanes, two pedestrian walkways, upgrading Porțelanului Street and Câmpul Pâinii Street, the development of approximately 3,200 meters of bicycle infrastructure, as well as the fitting of up to 4,800 parking spaces (of which 900 will feature electric vehicle charging stations) and 1,600 bicycle parking spaces.

The urban regeneration process was supported by an investment upwards of 7 million Euro in the relocation and upgrading of Carbochim factory, an essential step to continuing the manufacturing activity, which is a rarity in the local real-estate industry. The factory is still operating today, retained its employees, and conducts its business in substantially improved technological and operating conditions, which further emphasizes the responsibility and sustainability of the entire undertaking.

Discover the largest urban reconversion project in Romania at www.rivus.ro and on its social media platforms at http://www.instagram.com/rivuscluj and www.facebook.com/rivuscluj.

FIA Imobiliar BT Property extends its footprint in the premium office segment through the aquisition of Record Park
FIA Imobiliar BT Property extends its footprint in the premium office segment through the aquisition of Record Park 1024 768 ROMANIA PROPERTY CLUB

BT Property, an alternative real estate investment fund for professional investors, managed by INNO Investments SAI SA, a company part of Banca Transilvania Financial Group, has acquired Record Park from AYA Properties Fund (Belgium).

  • Launched in 2021, FIA Imobiliar BT Property invests primarily in real estate assets and real estate companies that generate potential returns and long-term value growth.
  • Until 2025, the fund was managed by BT Asset Management, and since October last year, the new manager is INNO Investments, which specializes in managing alternative investment funds. INNO Investments is the former OTP Asset Management Romania SAI SA, which joined Banca Transilvania Group following the acquisition of OTP Bank Romania and its subsidiaries.
  • The portfolio comprises retail, office, and medical properties with a total leasable area of approximately 43,000 sqm, including the latest acquisition. The fund manages assets amounting to approximately EUR 79 million and has generated a return of over 55% since its launch.

Record Park, an example of urban regeneration and an asset with strategic value

Record Park is a AAA-class office complex located in a premium area of Cluj-Napoca, with approximately 15,000 sqm of high-end office premises leased to international companies. The complex integrates a wide range of services and facilities—a fitness center and swimming pool, restaurant, co-working spaces, and an underground parking lot with over 200 spaces.

Developed in 2020, the project transformed a former industrial area into a contemporary mixed-use complex, maintaining maximum occupancy from the outset. Built on the principles of Transit-Oriented Development (TOD) – an urban model that prioritises connectivity – and certified BREEAM Excellent, Record Park reflects high standards of sustainability and operational efficiency.

Mateusz Siejka, Chief Investment Officer, AYA Properties Fund: “We are very proud of this transaction. It is the first closing of an investment cycle within AYA and is a perfect example of how we approach real estate investments: from identifying an opportunity, acquisition and stabilization, to maturing the project and selling it to an institutional investor at a market-aligned valuation. I am grateful to our partners at INNO Investments for the constructive negotiations and for a professionally conducted transaction process. We remain active and aim to add new assets to our portfolio.”

Vlad Micu, CEO, INNO Investments: “We chose Record Park because of its strategic location, the quality of its construction, and its mix, which responds very well to the current needs of companies and the local community. Both the return offered to investors and the quality of the real estate assets in which the fund invests are important, taking into account ESG requirements. We would like to thank AYA Properties Fund team for their open and professional collaboration and for the way in which they managed and matured this asset until the transaction.”

Impact of the acquisition

  • Portfolio consolidation: Record Park increases the share of premium assets and increases the exposure of the fund and of INNO Investments in the office segment.
  • Stable income: The diversity of tenants and facilities both support the financial performance of the asset, thus generating a stable income.
  • Cluj is growing: The transaction confirms the potential of Cluj-Napoca office market and the interest of institutional investors in premium projects, which support the urban development and the visibility of the local market.

INNO Investments continues to pursue investment opportunities that capitalize on the dynamics of the Romanian real estate market.

Timisoara confirms its status as a magnet city in the Western area and attracts two new real estate investments exceeding 100 million Euro
Timisoara confirms its status as a magnet city in the Western area and attracts two new real estate investments exceeding 100 million Euro 1620 1080 ROMANIA PROPERTY CLUB

Timisoara confirms its development potential and, in addition to consistent investments in infrastructure, attracts two new real estate developments, with an investment value of over 100 million Euros, shows an analysis by Romania Property Club (RPC), based on the conclusions of the Timisoara Real Estate Roundtable, an event organized on Thursday, September 25, 2025.

Local and central authorities are focusing on investment for development, with a program in 2025 of 270 million Euro (City Hall) and 100 million Euro (County Council). The 3 billion Euro A9 motorway, which connects Timisoara to the Serbian border, is currently under action.

Two of the most powerful Romanian entrepreneurial groups are preparing two large-scale investments on a combined area of ​​over 40 hectares. Țiriac Group has obtained the PUZ for a mixed development – housing, offices, commercial spaces, hotels and services – in the Abator area. Pavăl Holding has obtained a PUZ for a 36 ha industrial and logistics park located in the northern part of the city. The two projects total investments of over 100 million Euro.

Iulius Town remains the main business and commercial hub in the city, with a retail area exceeding 100,000 sqm and hosting 450 stores, and four modern office buildings, totalling 80,000 sqm, where 11,000 employees work. Iulius investments in Timisoara total 442 million Euro. “The trends we have seen since last year on the office market have continued in 2025. In the absence of new project deliveries, demand is moving towards the modern infrastructure created in previous years. The competitive advantage belongs to green buildings, whose efficiency is reflected in operating costs and in the comfort that employees have,” said Laurențiu Manea Office Buildings Manager, Iulius Town Timișoara. Regarding the retail component, Iulius Town’s market share reached 28% in 2025, the portfolio being expanded with exclusive brands, as well as department stores, while bringing together all the major fashion anchors.

What attracts investors to this area of ​​Romania? Timiș is the third most popular destination (after Bucharest-Ilfov and Cluj) for foreign investors. Approximately 150 companies with international shareholding and a significant economic impact (turnover of over 5 million Euro and employing at least 10 people) have established their headquarters in Timiș. They operate mainly in the chemical and plastic materials, automotive and electronic components, transport, IT and agriculture sectors. By country of origin, Central and Western Europe dominates the top of investors. Timiș’s strong economy has kept the unemployment rate at 1.06%, while the average net salary is around 1,200 Euro, the third highest after Bucharest and Cluj.

The sharp economic development causes effervescence on the land market. Thus, data from real estate consultancy Hitch & Mosher shows that plots authorized for industrial development are priced between 35-60 Euro/sqm, those for retail development are priced between 120-500 Euro/sqm, and those for residential and mixed development are priced between 200-1,000 Euro/sqm.

The total office stock in Timișoara remained stable at 285,000 sqm, with the main projects in the city being Iulius Town and AFI Park. The requested rents vary between 12.5 and 14.5 EUR/sqm, and negotiations may become competitive, given the 15% vacancy rate.

The level of wages coupled with a lower cost of housing than in other regional poles, leads to a more generous disposable income that fuels the retail sector. According to Hitch & Mosher data, 200,000 sqm of commercial spaces are under development at the county level, with delivery deadlines Q2 2025 – Q1 2027.

In terms of housing affordability, Timișoara is below Cluj-Napoca, Brașov and Bucharest, but with a considerable increase compared to the previous year. The average asking price for new apartments in the first semester was 1,844 Euro/sq m, up 10% compared to the first semester of 2024, according to Imobiliare.ro data. In August, after the VAT increase, it reached 2,127 Euro/sq m.

Despite the rich calendar of events and the “European Capital of Culture 2023” initiative, statistics show for 2024 a number of tourists below the pre-pandemic level: the total number of tourists who arrived in Timisoara in 2024 is 9.21% lower than in 2019. In the first half of 2025, compared to the same period last year, the figures show an increase of 17.68% for hotels and 3.20% for apartments, according to INS data. The interest of tourism investors remains high for this destination. Data from the consulting company Est Hospitality shows that a number of 616 rooms affiliated with international chains are under development, the most recently announced being Radisson Individuals.

The total stock of modern industrial and logistics spaces in Timișoara has increased by approximately 10% in the last year, reaching 850,000 sq m. The county has seen its vacancy rate increase from 8.2% to almost 11% (the second highest in Romania after Iași), despite several notable large transactions and a total leasing activity that exceeded 85,000 sq m in the last 12 months.

New Radisson Hotel in Timisoara
New Radisson Hotel in Timisoara 1920 1080 ROMANIA PROPERTY CLUB

Radisson Hotel Group has signed Galaxy Hotel Timișoara, a member of Radisson Individuals. The new-build property is set to open in Q1 2026 and marks the debut of the Radisson Individuals brand in Romania.

Galaxy Hotel Timișoara, a member of Radisson Individuals will offer 48 rooms and apartments, including three premium apartments designed for extended stays. The hotel will feature a lobby bar with outdoor terrace, an all-day dining restaurant, and meeting facilities comprising a boardroom, a larger event space, and a pre-function area. Guests will benefit from exterior parking and excellent connectivity, just 20 minutes from Timișoara Airport and 7 minutes from the main railway station, while enjoying a prime location in the city’s central Cetate district.

“We are committed to elevating the hospitality offering in Timișoara, and partnering with Radisson Hotel Group enables us to deliver an international standard of quality and service. Radisson Individuals is the perfect fit for our vision, offering both brand prestige and the flexibility we value. We’re proud to introduce this brand to Romania and confident that Galaxy Hotel Timișoara will become a top choice for both business and leisure travelers,” says Lucian Popa, owner of the hotel.

“Timișoara is a dynamic and fast-growing destination that continues to attract both local and international travellers. We are confident that the Radisson Individuals brand will not only elevate the city’s profile but also contribute to the overall development of its hospitality market. This partnership represents a strong step forward in positioning Timișoara as a key location for quality tourism and business travel,” said Mircea Drăghici, CEO of EST Hospitality and project consultant overseeing operator selection.

One United Properties announces strategic expansion to Sibiu
One United Properties announces strategic expansion to Sibiu 2098 2560 ROMANIA PROPERTY CLUB
One United Properties, the leading green developer of residential, mixed-use, and office real estate in Romania, announces the signing of a promissory sale and purchase agreement for land located in a prime central area of Sibiu, marking the company’s strategic entry into one of Romania’s most dynamic regional cities.
The acquired site, located on the former FLARO industrial platform, offers significant potential for urban regeneration. In addition to developing a new mixed-use community that will integrate residential, commercial, and service components, One United Properties will also restore and preserve four existing historical buildings on the site. These heritage buildings, which reflect the industrial and architectural history of Sibiu, will be rehabilitated and reintegrated into the future development.

“Sibiu is one of the most exciting urban development opportunities in Romania today. The city has strong fundamentals – a thriving economy, rich cultural heritage, and growing demand for quality urban living. By bringing the ONE standard to Sibiu, we are expanding geographically beyond Bucharest and Constanta, while strengthening our business model through regional diversification and addressing unmet demand in key urban centers. At the same time, we are contributing to the sustainable transformation of underutilized central areas into communities that truly serve modern needs,” said Victor Căpitanu, co-CEO of One United Properties.

One of the buildings to be restored is the former Gratioza fountain-pen factory, founded in 1922. As one of Romania’s early producers of writing instruments, Gratioza played an important role in the interwar industrial development of Sibiu. Later nationalized under communist rule and renamed Flamura Roșie, the factory became part of the FLARO industrial group – a key manufacturer of writing instruments throughout the 20th century. Gratioza’s pens were used in correspondence by the Romanian Royal House and are now featured in public collections, including the Brukenthal National Museum in Sibiu.

“Sibiu offers the kind of layered opportunity we rarely see – a strong residential market, rising demand for modern office and commercial spaces, and a city identity shaped by culture and tradition. This new development will allow us to bring all those dimensions together, leveraging our proven expertise in blending restoration with contemporary urban development. It’s truly a unique chance to build something that adds lasting value to the city. Our ambition is to deliver a vibrant, integrated destination that will reflect Sibiu’s identity and will support its long-term growth,” added Andrei Diaconescu, co-CEO of One United Properties.

The future development is envisioned as a desirable destination for living, working, and leisure – not only for residents of Sibiu, but also as an attraction for visitors. With a central location, rich historical context, and carefully planned mix of functions, the new community aims to become a landmark destination that enhances the city’s appeal while contributing to its long-term growth.

This acquisition reinforces the One United Properties’ ability to identify and secure strategic opportunities that generate long-term value for residents, investors, and the local economy. It also supports the continued growth of Company’s national footprint in line with evolving urban demand patterns.

The transaction is subject to the fulfillment of several conditions precedent, including the issuance of the final building permit, expected by the end of 2026.

Nhood Romania transforms abandoned or underutilized spaces into active community projects through real estate upcycling
Nhood Romania transforms abandoned or underutilized spaces into active community projects through real estate upcycling 2560 2225 ROMANIA PROPERTY CLUB

Nhood, an integrated real estate services and solutions company present in 10 European countries, including Romania, proposes an innovative solution to transform abandoned or underutilized spaces into community-relevant projects through real estate upcycling, a practical and sustainable approach to the challenges of accelerated urban development. Nhood proposes the reconversion of former industrial platforms, vacant commercial buildings, and unused land. These spaces are given a new life, becoming active community centers with housing, offices, green areas, and commercial spaces, thus revitalizing urban areas.

Nhood applies the real estate upcycling strategy in several projects within the services portfolio it manages for its clients, which, unlike recycling, offers a second life to existing spaces, leveraging on their uniqueness and history. Through this urban intervention, the company combines sustainability with respect for the history and specifics of each location, transforming non-functional buildings and areas into sustainable urban ecosystems with a real economic, social, and cultural impact on cities.

One such example is Coresi District in Brașov – the largest urban regeneration project in Romania – which Nhood manages and supports in its continuous development. Covering an area of 120 hectares, the former industrial platform has been transformed into a modern and dynamic district that integrates mixed functions – from retail and offices to residential, education, culture, and green spaces, while preserving the historical identity of the place. Within the same project, Nhood is coordinating the rehabilitation of a 3,000 sqm industrial hangar, which will become an entertainment space, retaining its original architecture and adding a new urban functionality.

At the same time, the company offers real estate upcycling solutions to several Aushopping commercial centers, proposing the remodeling of existing spaces to better meet the current needs of local communities. And in Bucharest, Nhood has proposed transforming the roof of the Drumul Taberelor shopping center – a previously unused space – into a 17,000 sqm urban garden, intended for relaxation, educational activities, and community initiatives.

“Romanian cities have a real opportunity to actively regenerate abandoned or underutilized areas without erasing their history. Real estate upcycling means exactly that: transforming spaces with an industrial or commercial past into a coherent, connected, and sustainable urban future. It is an efficient, scalable solution with proven positive impact,” stated Elena Bocan, Head of Market Nhood Romania.

These types of projects have the potential to fundamentally change the lives of local communities by attracting investments, generating jobs, stimulating cultural and social initiatives, and revitalizing areas once neglected.

The real estate upcycling process contributes to balancing urban development, bringing complementary functions to neighborhoods that need diversification and revitalization. These interventions reuse existing infrastructure and create opportunities for a more sustainable, connected, and participatory lifestyle.

In addition to ongoing projects, Nhood Romania is considering such initiatives in key cities across the country, aiming to transform commercial or industrial areas into mixed-use complexes – with complementary retail, office, residential, services, and green space functions.

“Through this campaign, we reaffirm Nhood’s mission to transform existing spaces into valuable places for the community, with respect for their history. Real estate upcycling means building the future from what we already have – with responsibility, vision, and creativity,” stated Monica Dima, Head of Brand Marketing & Communication at Nhood România.

The campaign conveys the belief that the future of real estate development lies not in demolition and reconstruction, but in the creative repurposing of what already exists. The campaign’s visual identity is created by Estonian illustrator Eiko Ojala, whose minimalist and conceptual work symbolizes transformation, depth, and the intelligent reuse of space — central themes in Nhood’s philosophy.

Through this manifesto, Nhood presents a truly innovative vision: real estate upcycling is not just a trend, but the future of cities and regions.

Romania Steps into the Spotlight at the BREEAM Awards 2025: Five Nominations and One Trophy
Romania Steps into the Spotlight at the BREEAM Awards 2025: Five Nominations and One Trophy 2560 1176 ROMANIA PROPERTY CLUB

Romania made a strong impression at the BREEAM Awards 2025, the most prestigious international event dedicated to sustainability in the real estate sector. Organized in London by the Building Research Establishment (BRE), the awards gala brought attention to five Romanian projects and initiatives—one of which was awarded the ESG Rising Star trophy.

Adrian Pop, architect and founder of ADP, was named the winner of the ESG Rising Star category, a recognition for professionals who have made an accelerated and significant impact in promoting sustainability in real estate.

“The winner is an architect, sustainability consultant, and systems thinker whose mission has been to embed ESG principles across real estate, public architecture, and community infrastructure. He has built a company that leads by example—through rigorous technical expertise, impactful sustainability strategies, and a genuine commitment to social and environmental value.

In 2024 alone, his organisation delivered 168 BREEAM certifications, covering over 2 million square metres, across 9 countries, with zero halted assessments and an average score of 72.4%.

His vision is to make sustainability scalable, practical, and transformative—using BREEAM not only for compliance, but to shape investment strategies, community resilience, and public policy.”
— James Fisher, jury member and Head of Strategic Partnerships at BRE.

In addition to Adrian Pop’s win, Romania was represented by four other shortlistings:

  • ADP, shortlisted for Best Assessor Company
  • Adrian Pop, shortlisted for ESG Outstanding Achievement
  • YUNITY Park – Building F, shortlisted for BREEAM Lifecycle
  • Arghezi 4 Office Building, also shortlisted in the Best BREEAM In-Use | Commercial.
    Building category and awarded a Highly Commended distinction

Old touristic infrastructure in Constanța demolished for new, modern projects
Old touristic infrastructure in Constanța demolished for new, modern projects 1920 1078 ROMANIA PROPERTY CLUB

With an old touristic infrastructure, a new trend emerges in the Constanta hotel market: the outstanding hotels are being demolished to make room for new, modern projects, adapted to the present demand. Statistics show that in 2024 around 3,000 hotels rooms were closed in Constanta County. This trend will continue in the coming years due to old hotel infrastructure and intensive investment budgets to increase quality of services.

As infrastructure works for better mobility in the south of the seaside advance, we expect to see new investments in Eforie, Costinesti and Neptun-Olimp.

EST HOSPITALITY CONCLUSIONS REGARDING MAIN TRENDS ON SEASIDE TOURISM

  • In the last two years the number of hotels for sale in Constanta county increased. Most of the properties for sale are ranked at 2* and 3*.
  • There is a big potential for new supply addition in 5* category for Constanta and Mamaia where seasonality is reduced.
  • The highest potential is for the hotels with medical treatment (ie sapropelic mud and other medical procedures) that can operate year-round with the lowest seasonality.
  • 5% of tourist’ arrivals and overnights in 2024 were in apartments for rent.
  • Average length of stay in hotels was 2.7 nights and 2.8 nights in apartments for rent.

2025 Constanța Economic Outlook
2025 Constanța Economic Outlook 1620 1080 ROMANIA PROPERTY CLUB

Constanța is steadily continuing on its path of being one of Romania’s regional powerhouses. The touristic destination is also an unshakeable pillar of the country’s defence, energy, and food security. Constanta is looking ahead to turbo-boosting its superpowers and a slow transition towards building a corporate culture.

One of the country’s most powerful developers & investors, IULIUS, moves forward with its master planning for the urban regeneration project on 38 hectares, which previously housed the operations of the country’s largest oil products storage and import/export. To draw its vision, the company has retained one of the most prestigious UK-based architectural companies, launched public debates over future functions, and is progressing with the soil decontamination and regeneration phases.

Meanwhile, a smaller, yet more agile entrepreneurial developer is analysing the opportunity of promptly answering the city’s needs for modern office and retail space, potentially serving as an incubator for companies looking to tap into one of Romania’s largest pools of graduates. These initiatives are crucial for Constanta. While the county is uniquely strong in terms of military, energy, shipping & logistics, and agricultural capabilities, these sectors tend to be moderately employment-intensive; thus, a significant part of the locals rely on seasonal tourism jobs for their livelihood. Should the county be able to retain its generous student pool and enjoy year-round employment, the overall prosperity of the region will significantly increase.

Until construction takes shape, the county needs to focus on developing its current strengths. Constanta experiences one of the highest increases in incoming tourists, 11.47% y-o-y growth, above the capital city’s expansion (9.35%) and more than double the national average (4.75%). The city’s grand reopening of the Casino, an art nouveau historical landmark, after years of restoration efforts, should attract new interest. It is to be determined whether it can fully balance out the adverse effects of cancelling the Neversea festival and the restrictions on vacation vouchers during a more cautious consumer behaviour season. New emerging festivals such as “Beach!Please” could help maintain numbers.

New investments in energy infrastructure are steadily moving forward. This year, the authorities began drilling for the first well of Neptun Deep and overcame multiple attempts to stall or block construction initiated by international NGOs. Neptun Deep is of utmost importance not only for Romania, but for Europe as well. In addition to Germany, Hungary is now negotiating to purchase future production. The project can redraw the map of political and economic influence on the continent. Another key event during the past 6 months has been the signing for building the 3rd and 4th nuclear reactors of Cernavoda Power Plant. An international consortium formed by Flour, Sargent & Lundy, Atkins Realis, and Ansaldo will deliver 1,400 MWh of new energy production in seven years. Meanwhile, a 2 billion EUR retrofit contract for Unit 1 was signed. Thanks to its strategic positioning along the Black Sea coast, Constanta plays an essential role in renewable energy, as well. GWhs are built or under development by powerful international investors such as INGKA, Monsson, Rezolv Energy, Copenhagen Infrastructure Partners, Electrica, Eurowind, PPC, Ecoenergy, among others. By mixing the local energy expertise and agricultural production strength, BSOG Energy, backed by Carlyle, launched a new 65 million EUR biomethane and organic fertilized plant in Constanta.

In addition to the expansion of the Mihail Kogalniceanu military base, the strategic defence role of Constanta shall be enhanced by further investments in the Military Port. The Romanian Naval Forces began work on a new wharf and advanced military logistic capabilities. Most recently, the EU unveiled its defence strategy for the Black Sea. In addition to the NATO military base, Kaja Kallas, the EU Diplomacy-Chief, announced major investments in road, air, sea, and rail logistics for heavy equipment transportation. The EU shall establish a Sea Security Hub in the Black Sea, which will serve as an early warning system for potential threats. At the 3Seas Initiative security forum in Warsaw this year, the importance of building the northern corridor of Via Carpathia was yet again underlined by the President.

Meanwhile, at the local level, the city council made small steps towards improving the living infrastructure, mostly relying on EU funds: the student housing was refurbished, the central heating system underwent upgrades, and the flagship Gheorghe Hagi stadium finally signed the financing contract. At the county level, one of the most significant developments is the “Techirgiol Alternative Highway”, which enables much faster traffic distribution to the beach villages along the coast. The government approved the feasibility numbers, and the bid for works is pending. Meanwhile, the Eforie public authorities are attempting to streamline traffic by constructing a couple of flyovers; the bid was recently caught in red tape, and we’re waiting for new developments.

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