Timisoara: Romania’s gateway to Europe.

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

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

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

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


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


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


With an investment of 40 million euros, Continental opens a megafactory in Timisoara

With an investment of 40 million euros, Continental opens a megafactory in Timisoara 770 512 ROMANIA PROPERTY CLUB


Continental has completed the construction of the third expansion of the electronic components factory in Timișoara, with an investment of approximately 40 million euros.

With the new investment, the production area will increase by more than 7,000 square meters, which means an increase of more than 60% of the space (about 18,000 square meters will be reached for production). Parking spaces, a technical area, offices and a green area were also added.

“What used to mean horsepower under the hood is now user experience. To meet the growing demand of our customers, we must pursue the most developed digitization, standardization and automation possible – and that is exactly what we are doing with our new mega factories strategy”, said Lucian Mărgineanu, the director of the automotive production unit in Timișoara. “Continuing the implementation of Industry 4.0 technologies represents another leap into the future. The digitization of production processes, as well as the use of state-of-the-art equipment, means another step in guaranteeing the quality of our products and services. Therefore, in the electronic components factory in Timișoara, we are focusing on a sustainable future”, he added.

Continental makes more than 17 million products a year in Timișoara

The electronic components factory in Timișoara produces over 17 million products annually. Airbag control units, electronic parking systems, control units for various technologies such as air suspension, power steering, suspension adjustment and dynamic load stabilization, Head-Up and Head-Up Combiner display units and on-board instruments are manufactured here. Over time, the factory developed in the direction of Industry 4.0, integrating equipment and technologies such as the innovative storage system, the trigeneration system and others.

Over 17,500 employees in Romania

The technology company founded in 1871 provides safe, efficient, intelligent and affordable solutions for cars, machinery, traffic and transportation. Continental achieved a turnover of 33.8 billion euros in 2021 and currently has more than 190,000 employees in 58 countries and markets. On October 8, 2021, the company celebrated its 150th anniversary.

Between 1999 and 2021, Continental invested over 2 billion euros in its activities in Romania. All three fields of activity of the company are represented in Romania. Continental owns six production units and four engineering centers in Timișoara, Sibiu, Carei, Nădab and Iasi. The company has a tire distribution center in Bucharest. At the end of 2021, Continental had more than 17,500 employees, of which more than a third were engineers and computer scientists, and will continue to hire based on future projects.

Iulius Town Timisoara reaches 80,000 sqm of premium office space

Iulius Town Timisoara reaches 80,000 sqm of premium office space 420 250 ROMANIA PROPERTY CLUB


The fourth office building in the Iulius Town Timișoara complex is operational and consolidates the regional business hub in the urban regeneration mixed-use project to a total leasable area of 80,000 sqm and a 40-plus company from three continents community. United Business Center 0 has a leasable area upwards of 30,000 sqm and accommodates the offices of 15 companies operating in the IT & Outsourcing, automotive and service industry.

The fourth office building recently opened in Iulius Town Timișoara, the only urban regeneration mixed-use complex in the west of Romania. Comprising two levels of underground parking, semi-basement, ground floor, 15 floors of office space and two technical floors, United Business Center 0 (UBC 0) has a total leasable area of 30,000 sqm and accommodates the offices of 15 companies and 4,000-plus employees.

“The new building is a project adapted to market requirements, addressing a real need in the office segment for premium office spaces adjusted to the current reality and the employees’ expectations for their working environment. Beyond the state-of-the-art technological equipment, which creates optimal working conditions, and furnishings that encourage the exchange of ideas and socializing, it is also very important to note the services and facilities available to employees, which are increasingly relevant for companies. UBC 0 is fully leased to companies with expansion plans or newcomers in the region, who are joining the business community in Iulius Town Timișoara,” said Laurențiu Manea, Office Buildings Manager Iulius Town Timișoara.

The building accommodates the two-floor center of software developer Endava. Companies that occupy one floor each include the Porsche Engineering Romania development center, the software development center of Cognizant Softvision, and the office of market research and survey company Toluna România. The UBC 0 community also includes the offices of IT consulting & management company Infosys Consulting, the software development center of Haufe Group, the customer relations support service center Linde Global Services Romania, doctari group technology hub, Unbabel technology center in translation, IT Vizion industrial IT solutions center, the service center of brake technology developer TMD Friction, and the local office of the professional services firm PwC Romania.

The new premium office building is integrated in the Iulius Town Timișoara mixed-use complex, which provides immediate access to stores and services, themed restaurants and coffee shops, food court, offices of public institutions, kindergarten and primary school, the largest fitness center in Romania, multiplex cinema including the VIP dinner and movie all-inclusive concept, medical services and multiple leisure opportunities.

VGP’S Half Year Results 2022

VGP’S Half Year Results 2022 420 250 ROMANIA PROPERTY CLUB


VGP NV, a European provider of high-quality logistics and semi-industrial real estate, recently, announced the results for half-year ended 30 June 2022.

VGP reports an increased operational yield with a net profit of EUR 153.1 million, newly signed as well as renewed leases worth EUR 35.4 million, leading to EUR 281.1 million total annualized revenues (+9.7 % YTD)1. A total of 1,346,000 m2 under construction, within 40 projects that once built and leased represent EUR 88.1 million of additional annual rent (87.4% are pre-leased areas).

In Romania, at the end of the first semester, 4 buildings were under construction on an area of 102,000 m2, in different areas of the country: VGP Park Arad, VGP Park Brașov and VGP Park Bucharest.

VGP’s Chief Executive Officer, Jan Van Geet, said: “In the first half year we have seen robust growth with € 35 million of new or renewed lease agreements signed and supported by significant rental growth in most countries. This growth was realised despite a more prudent approach by e-commerce sector of which a number of major players have shifted their take-up focus towards 2024 and beyond.”

Jan Van Geet continued: “The unstable energy markets have not only given a significant boost to our renewable energy revenue potential, it has also served as an accelerator in our tenants’ desire to switch to renewable energy consumption. Beyond the traditional stronghold countries of Germany and the Netherlands we are now initiating solar projects in almost all regions based on direct tenant demand.”

Jan Van Geet added: “Although we have taken a more cautious approach to our land acquisitions during the first half of the year, an important side effect of these unstable energy markets is that it creates tremendous growth opportunities for us. After all, it accelerates the need for energy-inefficient industries to reinvent themselves and move to more sustainable and energy-efficient housing and operations. One of the side effects of this is that they are putting their old factories, mostly in prime locations, up for sale which consequently offers interesting brownfield redevelopment opportunities for VGP.”

Jan Van Geet concluded: “A strong capital position is important, particularly as such highly attractive brownfield opportunities start to increasingly arise. The significant cash recycling through the completed and anticipated joint venture closings enhances our balance sheet and allows us the flexibility to best serve our whilst enabling us to create significant value for all stakeholders involved.”

VGP has been present in Romania since 2007, and develops industrial parks in Bucharest, Arad, Brașov, Timișoara and Sibiu. VGP Park Bucuresti Nord is developed on a plot of approximately 250,000 m2 and will have a total leasable area of approximately 120,000 m2 divided into 4 buildings. VGP Park Arad, developed on a land of 39 ha, with a rental area of up to 200,000 m2, is strategically positioned in Arad, the most important road junction in the west of the country, part of the IV Pan-European Transport Corridor. VGP Park Brașov is developed on an area of approximately 320,000 m2 and will have a total potential of 140,000 m2 of space available for rent. VGP Park Timișoara is fully rented, with possibilities for expansion.

SPEEDWELL obtained the building permit for the second residential building in PALTIM, the mixed-use ensemble in Timisoara

SPEEDWELL obtained the building permit for the second residential building in PALTIM, the mixed-use ensemble in Timisoara 420 250 ROMANIA PROPERTY CLUB


SPEEDWELL announced having recently obtained the building permit for the second residential building of the PALTIM mixed-use project developed in Timisoara.

After starting construction works for the first phase of PALTIM, which includes 123 apartments, SPEEDWELL has received the building permit for the second residential building of this project. This milestone marks the third successfully obtained permit, in addition to the one granted for the rehabilitation works on the historical monument villa.

As a mixed-use ensemble, besides the residential component, PALTIM will also include office and retail spaces. The process for obtaining the final permits for the office component of PALTIM, including another revitalized building, linking the project to its past heritage, is well advanced and scheduled to occur in the next few months.

The works are well underway for the first residential building of the ensemble after SPEEDWELL has signed an agreement with STRABAG for the role of General Contractor.

The second residential building of PALTIM consists of 113 apartments, from studios, to 2, 3, and 4-room apartments. Together with the units in the first building that is already in the works, the project reaches a total of 236 premium apartments.

Located on the banks of Bega River, PALTIM introduces a high-end concept that aims to create a new community in one of Timisoara’s most sought-after areas, within walking distance from the city center and the Central Park.

PALTIM also is an urban regeneration project. SPEEDWELL is currently working on refurbishing a monument villa and will soon start works on a section of the former hat factory that will be rehabilitated, thus conserving the historical and cultural heritage of the site.

In addition to the urban regeneration component of the project. PALTIM is built according to the nZEB standards using superior quality materials. Sustainability is a concept that can be found in all the projects SPEEDWELL is developing.

Sales for the first building of the project have been launched in October 2021 and more than half of the available stock of apartments has been sold.

Construction works are ongoing for the first building and the monument villa refurbishment and are going according to plan.

„Obtaining the building permit for the second phase of the project marks an important milestone and a much-awaited moment the team has worked towards. With the construction going ahead for the first building, we are getting closer to the moment PALTIM will become reality and create a new community and living standard. We are happy to be present in Timisoara, where the authorities are demonstrating that a constructive dialogue is possible and are certain that PALTIM will contribute to the city’s and area development”, states Didier Balcaen, CEO and Co-Founder at SPEEDWELL.

Filip & Company assists Tiriac Imobiliare in the sale of a 14.5 ha land at the north of Timisoara

Filip & Company assists Tiriac Imobiliare in the sale of a 14.5 ha land at the north of Timisoara 420 250 ROMANIA PROPERTY CLUB


Filip & Company law firm assisted Ţiriac Imobiliare in the sale towards Dedeman of a land plot with an area of 14.5 ha located at the north of Timisoara city, in Dumbrăvița locality, Timis county.

“There is a certain upward trend in the number of transactions on the market with land plots for real estate projects, given the growing number of transactions that have already been or that are to be made in the near future. Țiriac Imobiliare is one of the successful stories of the Romanian entrepreneurship. Having the entrepreneurial spirit in its DNA, Țiriac Imobiliare has always shown a capacity to constantly optimize its business model. We were glad to have had yet another opportunity to work with them as a team. It was an excellent experience, as always”, said Ioana Roman, partner and head of Real estate at Filip & Company.

The team that assisted Țiriac Imobiliare in this transaction was coordinated by Ioana Roman and included Andreea Gheorghiu (associate) and Alexandru Popa (associate).

The real estate team at Filip & Company has gained its reputation of participating along the time in the most important transactions in Romania and has the required capacity and experience to cover all legal services ancillary to real estate transactions. The team’s expertise includes the structuring of complex transactions, from real estate acquisitions to the sale of projects, including the development and financing of real estate projects, leases, PPPs in the real estate sector, infrastructure projects as well as advising on various regulatory issues related to the development of real estate projects.