NEW YORK’S FIFTH AVENUE RETAINS TOP RANKING AS WORLD’S MOST EXPENSIVE RETAIL DESTINATION

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Milan’s Via Montenapoleone climbs to second place after 20% increase in retail rents, displacing Hong Kong’s Tsim Sha Tsui into third London’s New Bond Street and Paris’s Avenues des Champs-Élysées also feature in the top five of global ranking Retail rents in prime global locations continue to recover, showing resiliency and growing by an average … Continued

JIMMY KEY OPENS THE SECOND STORE IN ROMANIA, IN AFI COTROCENI BUCHAREST

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Bucharest, November 2023: Jimmy Key company from Turkey, with over 30 years of experience in womenswear, will open on the 8th of December the second store in Romania in AFI Cotroceni in Bucharest, developed by AFI Europe. Jimmy Key has leased a space in the project through a transaction brokered by the real estate consultancy … Continued

OVER HALF A MILLION SQ. M OF INDUSTRIAL AND LOGISTICS SPACES UNDER CONSTRUCTION ACROSS ROMANIA; 60% ARE ALREADY PRE-LEASED

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Bucharest, November 2023: Industrial and logistics projects accounting for more than half a million sq. m are currently under construction and due to be delivered by the end of 2024, 60% of which being already pre-leased. The limited pipeline of speculative projects could put pressure on rental levels in the coming period due to the … Continued

THE AVERAGE OFFICE TRANSACTION SIZE INCREASED BY 35% IN 2023 COMPARED WITH 2022 WHILE APPROACHING THE RECORD LEVEL SET IN 2019

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Bucharest, November 2023: The average office transaction size during the first 9 months of 2023 has been of 1,810 sq. m, the highest average registered in the last 4 years and close to the record level of 1,900 sq. m set in 2019, according to data from the Cushman & Wakefield Echinox real estate consultancy … Continued

AKCENT DEVELOPMENT, ONE OF THE MOST DYNAMIC RESIDENTIAL DEVELOPERS IN BUCHAREST, STARTED THE CONSTRUCTION OF THE AKCENT CITY PROJECT, CONSISTING OF 723 APARTMENTS, IN THE BUCURESTII NOI AREA

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Bucharest, October 2023: Akcent Development, one of the most dynamic developers on the Bucharest residential market, started the construction of the Akcent City project, consisting of 723 apartments, in the Bucuresti Noi area, the largest residential project authorized in Sector 1 after the nZEB regulations came into force. The complex is located just 2 minutes … Continued

HOTEL INVESTMENT IN CEE IS REBOUNDING BUT HOTELS MUST IMPROVE ESG CREDENTIALS AND REDUCE CARBON FOOTPRINT

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PRAGUE, 26 October 2023 – Cushman & Wakefield and CMS present the key findings from the fourth edition of their joint report on the hotel investment scene in CEE: Getting Real about ESG in Hotel Real Estate. Download the report: 2023-Hotel_Investment-report-in-CEE Hotel investment is bouncing back Hotel investment activity in the CEE-6 region reached EUR … Continued

CUSHMAN & WAKEFIELD ECHINOX COORDINATED THE BREEAM EXCELLENT CERTIFICATION PROCESS OF THE LOGISTICS PORTFOLIO OWNED BY EMAG IN ROMANIA AND HUNGARY

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Bucharest, October 2023: Cushman & Wakefield Echinox coordinated the BREEAM Excellent certification process for the 550,000 sq m logistics park portfolio in Romania and Hungary, owned by eMAG, one of the largest online retailers in Eastern Europe. The certification recognizes the sustainability performance of buildings by implementing energy efficiency and environmental impact reduction measures. The … Continued

THE REAL ESTATE AND CONSTRUCTION SECTOR ATTRACTED APPROXIMATELY €1.2 BILLION OF FOREIGN DIRECT INVESTMENTS IN 2022

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Bucharest, October 2023: The real estate and construction sector attracted approximately €1.2 billion of foreign direct investments (FDI) in 2022, as the share of this economic activity in the overall FDI stock stood at 17.2% at the end of 2022, according to data from the National Bank of Romania analyzed by the Cushman & Wakefield … Continued

A NEW POLISH RETAILER ENTERS THE ROMANIAN MARKET: WITTCHEN OPENS ITS FIRST STORE IN ROMANIA, IN PARKLAKE SHOPPING CENTER IN BUCHAREST

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Bucharest, October 2023: The large Polish retail groups continue to expand their presence in Romania, as Wittchen, one of the market leaders specialized in luggage, travel accessories and premium leather goods, will open the first store in the country within the ParkLake Shopping Center in Bucharest, developed by Sonae Sierra. Wittchen leased a space in … Continued

FORMER INDUSTRIAL PLATFORMS IN BUCHAREST CONTINUE TO GENERATE AMONG THE HIGHEST NUMBER OF LAND TRANSACTIONS, ESPECIALLY FOR MIXED-USE PROJECTS

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Bucharest, September 2023: The land market in Bucharest has remained active over the past 12 months, in terms of acquisitions made by residential, logistics and retail real estate developers by particularly targeting the former industrial platforms within the city, which provide easy access, according to data from the Cushman & Wakefield Echinox real estate consultancy … Continued

THE REAL ESTATE INVESTMENT MARKET: THE NUMBER OF SOLD PROPERTIES INCREASED IN H1 2023, BUT THE AVERAGE PRICE PER ASSET DECREASED BY MORE THAN 50%

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Bucharest, September 2023: The number of sold income – generating real estate properties (office, retail, industrial & logistics spaces and hotels) during the first half of 2023 increased by 30% when compared with the same period of last year, but the average price per property decreased from €24 million to €11 million. Therefore, the transactional … Continued

OREGON PARK, ONE OF THE MOST SUSTAINABLE OFFICE PROJECTS IN ROMANIA, ACHIEVED THE WELL HEALTH & SAFETY CERTIFICATION, IN A PROCESS COORDINATED BY CUSHMAN & WAKEFIELD ECHINOX

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Bucharest, September 2023: Oregon Park, one of the largest and most sustainable office projects in Romania, owned by the Lion’s Head investment fund, achieved the Well Health & Safety certification, granted by The International WELL Building Institute (IWBI). The certification recognizes the implementation of measures that ensure a work environment with a positive impact over … Continued

OFFICE RENTS IN BUCHAREST INCREASED BY UP TO 16% IN THE LAST 12 MONTHS, ONE OF THE HIGHEST GROWTH RATES IN EUROPE

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Bucharest, August 2023: Office rents in Bucharest increased by up to 15.8% in the last 12 months (June 2023 vs. June 2022), with the prime headline rent in the CBD area (Piata Victoriei – Aviatorilor) reaching €22.00/ sq. m/ month, an increase which also translated to other submarkets, according to data from the Cushman & … Continued

BUCHAREST IS THE 5TH MOST ATTRACTIVE MARKET IN CEE AND REMAINS A PRIORITY DESTINATION FOR HOTEL OPERATORS

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Bucharest, August 2023: The Bucharest hotel market continues to receive attention from hotel operators to expand their networks in Central and Eastern Europe (CEE). Bucharest is the 5th most attractive market out of 20 cities in CEE-12 in terms of the interest of the main operators to invest in new hotel facilities in the next … Continued

CUSHMAN & WAKEFIELD ECHINOX: NORIEL EXPANDS ITS NATIONAL NETWORK WITH A NEW STORE IN BOTOSANI SHOPPING CENTER

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Bucharest, August 2023: Noriel, a major brand in the Romanian toys market, opens a store in Botosani Shopping Center, one of the most important retail projects in the city, this becoming their 91st store in Romania and their second in Botosani. Noriel leased a space of around 300 sq. m within the project through a … Continued

MORE THAN 500,000 SQ. M OF LOGISTICS AND INDUSTRIAL SPACES WERE TRANSACTED IN H1 2023; OVER ONE THIRD OF THIS VOLUME CONSISTS OF PRE-LEASE AGREEMENTS IN PROJECTS WITH DELIVERY IN 2024

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Bucharest, August 2023: Companies leased nearly 550,000 sq. m of logistics and industrial spaces in the first half of the year, with over one third of this volume being related to pre-lease agreements, mainly in projects set to be delivered in 2024. There has been a slowdown of the development pace, as the main players … Continued

A NEW RETAILER ENTERS THE ROMANIAN MARKET: JIMMY KEY OPENS THE FIRST STORE IN ROMANIA, IN PARKLAKE SHOPPING CENTER IN BUCHAREST

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Bucharest, August 2023: The Romanian retail market continues to attract new brands, thus the Jimmy Key company from Turkey, with over 30 years of experience in womenswear, will open the first store in Romania within the ParkLake Shopping Center in Bucharest, developed by Sonae Sierra. Jimmy Key has leased a space in the project through … Continued

CUSHMAN & WAKEFIELD ECHINOX: GIURGIU, CĂLĂRAȘI, DEJ AND VASLUI, NEWLY ADDED CITIES ON THE MODERN RETAIL MAP THIS YEAR

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Bucharest, July 2023: Four modern retail projects were delivered in the first half of the year, with a total area of 30,000 sq. m GLA. Giurgiu, Călărași, Dej and Vaslui are the cities which benefited from these new investments, while the new supply will be significantly more substantial in H2, when almost 260,000 sq. m … Continued

THE LEVEL OF COSTS AND THE ACCESS TO TALENTS ARE THE TOP DRIVERS FOR COMPANIES WHEN LEASING OFFICE SPACES

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Bucharest, July 2023: Occupiers consistently identify the level of costs and the access to talents as the top drivers of corporate real estate (CRE) strategies, with particular importance also given to ESG standards, according to the What-Occupiers-Want-2023 study conducted by the Cushman & Wakefield real estate consultancy company based on a global survey. In Europe, … Continued

CUSHMAN & WAKEFIELD ECHINOX DIVERSIFIES ITS RANGE OF SERVICES OFFERED TO OFFICE BUILDING LANDLORDS THROUGH THE ASSET SERVICES DEPARTMENT

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Bucharest, July 2023: The Cushman & Wakefield Echinox real estate consultancy company diversifies its range of services offered to office building landlords through the Asset Services department and launches a new business line which aims to create and implement programs and events, as well as to identify tools to support tenants in their efforts and … Continued

ROMANIANS HAVE RETURNED TO CINEMAS, WITH THE NUMBER OF VIEWERS AND OPERATORS’ REVENUES GETTING CLOSER TO THE LEVELS FROM 2019

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Bucharest, June 2023: The Romanian cinematographic market, among the most affected industries by pandemic restrictions, is approaching pre-2019 levels, thus in 2022 the number of viewers reached 11.2 million, a 40% increase compared to 2021, but by 15% below the 2019 level, according to the data offered by the National Center for Cinematography, and analyzed … Continued

THE TOTAL TURNOVER ACHIEVED BY THE LARGE RETAILERS INCREASED BY 16.3% IN 2022 COMPARED WITH 2021, MORE THAN THE AVERAGE ANNUAL INFLATION RATE; COSMETICS, CLOTHING AND FOOD & BEVERAGE OPERATORS RECORDED THE HIGHEST Y-O-Y GROWTH RATES

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Bucharest, June 2023: The large retail chains recorded a total turnover which was 16.3% higher than in 2021, a growth rate that exceeds the average annual inflation rate of 13.8% registered in 2022, according to the Romania Retail Snapshot 2023 study performed by the Cushman & Wakefield Echinox real estate consultancy company, based on the … Continued

CENTRAL AND EASTERN EUROPE BENEFITS FROM THE RELOCATION OF PRODUCTION ACTIVITIES IN ASIA, CREATING OPPORTUNITIES FOR THE LOGISTICS AND INDUSTRIAL MARKET IN ROMANIA

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Bucharest, June 2023: Central and Eastern Europe (CEE), including Romania, are actively benefiting from the relocation of production facilities from far-away locations, such as Asia, closer to markets of consumption particularly because they offer a significant cost differential to Western European locations, especially for labor. Key sectors located in the CEE are textiles & apparel, … Continued

FORBES ROMANIA – THE EMBASSY OF THE KINGDOM OF SAUDI ARABIA (KSA) RELOCATES ITS OFFICIAL HEADQUARTERS IN A LANDMARK LOCATION ON DOROBANTI BLVD.

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Forbes Romania: Bucharest, January 2023: The Embassy of the Saudi Arabia in Bucharest relocates its Official Headquarters in an iconic building in Dorobanti area, one of the exclusive locations in the city, benefitting from an easy accessibility and a great exposure, very important features for a Diplomatic Mission, in a transaction advised by the real … Continued