Property News

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.

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

IULIUS and Atterbury Europe secure the largest loan granted to a real-estate development in Romania – 400 million Euro for the RIVUS Cluj-Napoca mixed-use urban reconversion project
IULIUS and Atterbury Europe secure the largest loan granted to a real-estate development in Romania – 400 million Euro for the RIVUS Cluj-Napoca mixed-use urban reconversion project 1000 500 ROMANIA PROPERTY CLUB

RIVUS Cluj-Napoca, the mixed-use urban reconversion project developed by companies IULIUS and Atterbury Europe, was granted the largest loan for a new real-estate development in Romania. The loan adds up to approximately 400 million Euro and it is in the form of syndicated financing granted four loan institutions: Erste Bank, BCR, BERD, and BRD. RIVUS restores 14 hectares of a former industrial platform back to the city, in the form of a mixed-use project with likely the widest functional diversity in Romania – retail, office, culture, entertainment, park. The project investment is estimated upwards of half-billion Euro, and it is currently in the building permitting phase.

 

RIVUS Cluj-Napoca is a project tackling the urban reconversion of a brownfield area spanning more than 14 hectares into a regional attraction, customized to the expectations and needs of the community and the city. This is a sustainable project and the concept for it was designed by the prestigious international architecture firm UNStudio, with a focus on leveraging Someș River and making it accessible to the public, and integrating the entirety of the former industrial area with the city as a pole of urban development. The largest loan granted to an industrial real estate development in Romania, adding up to 400 million Euro, was secured for this project developed by companies IULIUS and Atterbury Europe. This is a green syndicated loan, secured by meeting the LEED Platinum and EDGE Advanced sustainability standards, which cover the entire development-operation-top-up cycle. The syndicate of banks providing the financing is comprised of Erste Bank (Lead Arranger), Banca Comercială Română (BCR), European Bank for Reconstruction and Development (EBRD), and BRD Groupe Société Générale. The financing primarily focuses on the retail component of the project, including the cultural areas and green spaces, which means a total leasable area of 132,500 sqm.

“For IULIUS, this loan continues the series of premieres in terms of financing: from the first green loan granted to a Romanian company back in 2021, to the largest real-estate refinancing loan in Romania in 2022, and now the largest development loan in the industry. To us, all these milestones certify the attractiveness and quality of IULIUS projects. We are excited that every single time we are able to attract new partners in the financing process, with EBRD now joining the group of banks with which we are collaborating. The mix of local, regional, and global banks provide the financial stability we need in order to focus on what we do best: large scale green mixed-use project, with significant investment values (usually upwards of half-billion Euro), in central locations, and contributing to the economic development of their respective local and regional communities. The trust placed in us by our clients, tenants, and banks motivate us to bring ever more daring, more complex projects on the market, with even greater positive impacts on their respective communities,” said Marius Perșenea, Chief Operating Officer IULIUS.

RIVUS – The largest lifestyle center in Romania

The functional diversity of RIVUS includes:

  • The largest retail area in Romania, spanning 142,000 sqm (integrating the shopping mall, as well as the complementary retail facilities) in a mixed-use concept that enhances the shopping experience with public and leisure services and facilities
  • More than 400 stores, including regional and national premieres
  • 30+ new concept-restaurants and coffee shops overlooking Someș River
  • A new park and landscaped green spaces spanning more than 52,000 sqm
  • Japanese rooftop garden
  • Two industrial buildings reconverted to accommodate cultural venues, office spaces, and services
  • Live arts center– feature integrated for the first time in a real estate project based in Romania
  • First-to-region entertainment concepts for all ages
  • The latest cinema technologies for the first time in Transylvania, as well as open air cinema

Premium green office spaces – 15,000 sqm GLA

International fashion brands Lefties and Stradivarius to open in north-east Romania: the latest store concepts in Iulius Mall Suceava!
International fashion brands Lefties and Stradivarius to open in north-east Romania: the latest store concepts in Iulius Mall Suceava! 1600 723 ROMANIA PROPERTY CLUB

IULIUS Company and fashion retailer Inditex are bringing the most modern store concepts by the Lefties and Stradivarius brands for the first time in north-east Romania in Iulius Mall Suceava. Lefties is a fashion brand catering to the entire family, combining modern design with affordable prices and digital retail technologies. Stradivarius is the women’s fashion brand in the Inditex portfolio, acclaimed for its youthful and sophisticated style. The expansion of Iulius Mall Suceava, set to be completed by the middle of this year, will also include other international brands, drive thru type restaurants, coffee shops, a gym, green spaces, and additional parking spaces.

IULIUS Company is consolidating its partnership with Inditex Group, one of the world leading fashion retailers. Starting the first half of this year and for the first time in the region, Iulius Mall Suceava customers will be able to explore the most modern store concepts available around the world and the latest collections by brands Lefties and Stradivarius.

Lefties will open the latest Digital Store concept, set to integrate advanced technologies that allow for a straightforward and efficient shopping experience. The store will include smart fitting rooms, easy pay cash registers, in-store return stations, and a clothing and accessories customization area. Lefties will have a generous floor area spanning 3,000 sqm, offering timeless, sustainable and high quality essentials for the entire family. The collections for women, men, teenagers, girls, boys and babies are created considering the customers’ everyday needs, with an emphasis on versatile and easy to wear clothing at competitive prices. This will be the first Lefties store in the east of the country and the fourth in Romania.

Stradivarius is one of the Spanish concern’s most beloved brands, operating 850 stores in 64 countries. The brand exclusively addresses women and is recognized for its youthful modern style and versatile design, as well as its affordable pricing. Through every season, the brand offers collections inspired by the latest trends on international catwalks, from everyday clothing pieces to formal wear and accessories.

The two Inditex stores will open in the first half of this year, upon completion of the Iulius Mall Suceava expansion, which is set to deliver a total leasable area of 60,000 sqm. The new shopping area will integrate modern shopping and dining concepts, including department stores and fashion brands, some for the first time in the region, as well as restaurants, coffee shops, drive-thru venues, ice cream parlors, a gym, and additional parking spaces. Furthermore, new access routes will be created, connecting the mall and the additional parking spaces, and the area will benefit from landscaping features, green spaces and ambient features to improve the visitor experience.

Romanian premiere: Foster + Partners, a world leader in contemporary architecture, is designing IULIUS’ developments in Constanța and Iași
Romanian premiere: Foster + Partners, a world leader in contemporary architecture, is designing IULIUS’ developments in Constanța and Iași 750 536 ROMANIA PROPERTY CLUB

IULIUS Company, one of the largest real estate developers in the country, marks a new strategic development stage and will collaborate with Foster + Partners, one of the most innovative and world-renowned architecture firms, to implement the company’s new urban development vision. The two projects that IULIUS is developing in Iași and Constanța will harness Foster+Partners’50-plus years of global expertise.

The architects’ holistic approach will be reflected in these two major projects:

  • Palas Iași reconfiguration: the company’s landmark project and its best-performing one in the retail segment outside the Capital will be reconfigured to meet the current demands of the market and the community. The transformation will highlight the uniqueness of the location by integrating the Palace of Culture and positioning it in the city’s civic and cultural center and thus enhancing the visitor experience.
  • Large-scale urban reconversion project in Constanța: an investment upwards of 800 million Euro targeting the Oil Terminal platform, which will be completely decontaminated and reconnected to the rest of the city, in a modern, vibrant, and sustainable urban environment. The concept proposed by Foster + Partners offers a vision for the redevelopment of this area, now completely isolated from the rest of the city, transforming it into an attractive hub, with integrated functions that will support the economy, tourism, and social life. The project will revitalize Constanța and strengthen the city’s status as a strategic economic, social, and cultural hub, while contributing to regional and national competitiveness.

“Our entire activity over the past 25 years has revolved around projects that transform cities into better spaces for communities. The projects initiated with Foster + Partners are two of the most complex initiatives we have undertaken so far. In Iași, we are upgrading an existing complex in an iconic historical location, where reverence for the surrounding monuments, such as the Palace of Culture, is paramount. In Constanța, we are likely dealing with one of the largest decontamination projects in Europe and the opportunity to give an identity to an area currently isolated and contaminated. We propose to fully reintegrate this urban space, now an enclave, into the city and transform it into a vibrant center with functions that the city currently lacks. With the expertise of Foster + Partners architects and by working closely with the authorities and the respective communities, we are confident that we can implement a vision that redefines urban development standards in Romania,” said Iulian Dascălu, President of IULIUS Company.

“We are honored to work with IULIUS in addressing the challenges of urban regeneration in two cities of great significance in Romania. Both the Palas Iași project, with its historical and cultural complexity, and the reconversion of the platform in Constanța, a large-scale industrial area, offer opportunities for creating lasting positive impact. It is rare to find a developer with the courage and vision to take on such ambitious challenges. We are proud to lend our expertise and we are confident that, through this collaboration, we will transform these locations into sustainable and attractive destinations, serving as models for the future,” said Maximilian and Daniel Zielinski, Senior Partners Foster + Partners.

FIA Imobiliar BT Property acquired Prima Shops Oradea
FIA Imobiliar BT Property acquired Prima Shops Oradea 1600 777 ROMANIA PROPERTY CLUB

The BT Property Alternative Investment Real Estate Fund, managed by BT Asset Management SAI SA, is expanding in the retail market by acquiring Prima Shops Oradea park from Oasis Group. It has over 9,000 sq m and is located in a prime area of the city.

BT Asset Management SAI SA announced in May 2024 the fund’s entry into the retail market and its objective to expand. Since its launch in 2022, BT Property has reached assets of €40.4 million. The fund has so far invested in real estate assets providing premium conditions in the retail and office area and in healthcare buildings.

BT Property is aimed at professional investors and is set up for an indefinite period. It is the first alternative investment fund specializing in real estate investments, authorized in Romania by the Financial Supervisory Authority.

BT Asset Management SAI SA is one of the leaders in the Romanian investment management market and is part of the Banca Transilvania Financial Group. The company manages 17 investment funds, with investments in a broad spectrum of financial instruments, including real estate investments. The asset management business started in 2005 with 500 clients and has grown to over 250,000 investors and approximately RON 6 billion in assets under management.

MEDCITY Begins Construction of the First Dedicated Medical Hub in Timisoara
MEDCITY Begins Construction of the First Dedicated Medical Hub in Timisoara 1080 1452 ROMANIA PROPERTY CLUB
  • MEDCITY expands its network to 11 buildings in Romania, introducing the medical hub concept in one of the country’s most dynamic economic centers in the western part.
  • Over €7 million invested in a project set to become a landmark in the local healthcare system.
  • Currently, 40% of the project is already leased.

MEDCITY, the only developer in Romania exclusively focused on real estate concepts dedicated to the healthcare sector, announces the start of construction for the first medical hub in Timișoara. MEDCITY aims to transform a commercial building into a benchmark ecosystem in the healthcare domain, facilitating access to high-quality medical services provided by renowned operators. This hub will become a unique medical destination, designed to make a positive social impact on the local community.

Located centrally on Corneliu Coposu Boulevard, near the Bega River promenade, the MEDCITY hub is easily accessible: just a 15-minute walk from Victory Square, a 5-minute drive from the County Emergency Clinical Hospital and the “Victor Babeș” University of Medicine and Pharmacy, as well as other public and private medical institutions.

The new MEDCITY Timișoara project aims to create a premium medical ecosystem where medical operators—tenants within the building—will offer innovative services in a modern, safe environment, fully compliant with medical infrastructure regulations.

The MEDCITY Timișoara medical hub will serve as a unique synergy platform, fostering collaboration among healthcare service providers and enhancing access to quality care for the local community.

“MEDCITY Timișoara will be more than just a medical facility; it will function as a collaborative space where top healthcare providers unite under one roof to deliver high-quality care to the local community. We are excited to inaugurate this center of medical excellence, which we are confident will become a reference point for the entire community,” stated Alexandros Diamantis, Managing Director of MEDCITY.

The building will offer approximately 1,100 sqm of leasable space across four floors, exclusively dedicated to medical services and related activities. The €7 million investment includes the building’s conversion and the installation of state-of-the-art equipment. Currently, 40% of the MEDCITY Timișoara project has already been leased, and the building is scheduled to open in the spring of 2025.

MEDCITY Timișoara will include specialized features to ensure optimal ergonomics and safety for medical professionals and patient comfort. It will also include special facilities such as lifts for people and stretchers, easy access for individuals with disabilities, multiple entry points, backup water and electricity sources, and more. The building is designed to meet the nZEB (nearly Zero-Energy Building) standard, ensuring low energy consumption during operation.

In Romania, MEDCITY owns a portfolio of 11 buildings across several cities, making it the largest network of properties specifically designed for medical services. These properties represent over €30 million in investments, offer a total leasable area of over 20,000 sqm, and boast a 95% occupancy rate across the portfolio. MEDCITY plans to develop new projects in Bucharest, Cluj, and other key locations nationwide.

Nhood Services Romania supports Spartan Restaurant chain’s international expansion into Spain and Poland
Nhood Services Romania supports Spartan Restaurant chain’s international expansion into Spain and Poland 1080 607 ROMANIA PROPERTY CLUB

Bucharest, November 2024: Nhood Services Romania, a provider of integrated real estate services, has been selected to support the international expansion of the Romanian restaurant chain, Spartan. This partnership will facilitate the opening of new Spartan restaurants in Spain and the brand’s entry into the Polish market. Known for its modern take on Greek cuisine, Spartan operates in the Quick Service Restaurant (QSR) segment, offering an innovative alternative to traditional fast food, with 70 locations in Romania and one restaurant already established in Castellon, Spain.

Nhood has been appointed as a consultant for Spartan’s franchise expansion into Spain and Poland. The collaboration involves key activities critical to the brand’s long-term success in these new markets, including identifying and selecting franchise partners as well as finding the best locations for future Spartan restaurants. While Spain and Poland have distinct culinary traditions and specific market behaviors in the Food & Beverage sector, the QSR segment, in which Spartan operates, is experiencing growth, offering the Romanian brand a promising opportunity.

“The launch of our collaboration with Spartan marks an important milestone in diversifying our services, demonstrating Nhood’s ability to be a reliable partner for local brands in their international expansion efforts. We are excited to offer Spartan our full support, from finding local partners to selecting prime locations for their new restaurants, contributing to their success in Spain and Poland. Projects like this highlight Nhood’s development strategy, providing integrated solutions for ambitious brands ready to expand internationally,” stated Gabriela Piștalu, Head of Property & Asset Services at Nhood Services Romania.

“This collaboration is strategically significant for Nhood as it represents our first international expansion project for a brand via franchising, executed simultaneously in multiple countries. This partnership allows us to leverage our extensive real estate expertise and showcase our ability to manage complex projects across diverse European markets. At the same time, it confirms Nhood’s capacity to adapt its services to meet the specific needs of our clients, offering unified but tailored solutions based on our deep understanding of the local markets we operate in. Supporting brands in their international growth and helping them find the best solutions for sustainable development is a key priority for Nhood,” stated Bogdan Aldea, Head of Business Development at Nhood Services Romania.

Nhood’s expertise in managing complex real estate projects, combined with its network of local and international partnerships, ensures that Spartan’s expansion will be implemented efficiently and in alignment with the specifics of each market. With extensive experience in managing commercial spaces and facilitating durable partnerships, Nhood is well-positioned to identify optimal locations for each brand, reinforcing its status as a trusted partner for expanding brands across European markets.

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