2024 CONSTANTA KEY FIGURES
800 MLN EUR Iulius invests in a new major mixed-use scheme
1,000 HOTEL ROOMS Under development
1 BL EUR Investments in Constanta Port
2,5 BL EUR Investments in the new NATO mini-city near Mihail Kogalniceanu
4 BL EUR OMV Petrom – Romgaz joint venture to transform Romania into the largest gas producer in Europe
DOWNLOAD YOUR COPY BELOW
IULIUS MAJOR INVESTMENT IN CONSTANTA
“The project in Constanța is the most ambitious undertaking of Iulius so far, the target being to offer the local community a useful project, accessible to all. The project will have multiple functions, with the potential to become a regional business hub, but also a destination for all categories of the public, for the entire year”, said Raluca Munteanu, Development Director, Iulius.
CROWNE PLAZA & RADISSON ENTER CONSTANTA MARKET
”1,000 hotel rooms internationally affiliated are under development between 2024 – 2028. Major hotels operators entering the local market offer a vote of confidence for the Romanian seaside.” Mircea Draghici, Managing Partner, Est Hospitality.
FIRST INTEGRATED CONCEPT ON THE ROMANIAN SEASIDE
Axxis Nova Resort & Spa represents a major investment in Mamaia Nord area, comprising the first integrated concept on the Romanian seaside: apartments and a five-star hotel, 20,000 sqm private beach and 15,000 sqm of green areas. Construction works at the first block are to be finalized soon, the investment for the entire development being estimated at 300 million EUR.
RESIDENTIAL DEMAND IS BACK
After a difficult period for the residential segment in Constanta – the war in Ukraine, inflation, the explosion of construction costs and bank rates – demand is on the rise. According to immobiliare.ro data. the demand for new apartments in Constanța between January and May 2024 registered a 16% increase YOY. The offer has an increase of 17%, while the average price for the new housing units reached 1,718 Euro/usable sqm + VAT.
MAJOR INVESTMENTS RESHAPING CONSTANTA
The Ministry of Transportation announced massive 1 billion Euro investments for Constanta Sud, meant to upgrade Wharfs III S and IV S and add 17 new deep-sea berths, 155 ha of operating area, and 36 ha of logistics platforms. Another outstanding new 2.5 billion Euro investments are underway in a mini-city near the Mihail Kogalniceanu military base, adding another 10,000 soldiers + 5,000 family members. The 1 billion Euro seaside new highway connecting Constanta to Olimp is expected to add another hub on Constanta regional map: the southern part of the seaside. Another major project is the 4 billion Euro Neptun Deep joint venture between Romgaz and OMV which will transform Romania into the largest gas producer in Europe.
RPC CONSTANTA REAL ESTATE OVERVIEW
PRESENTED BY:
