Posts - Cushman & Wakefield Echinox

THE OFFICE MARKET PARADOX: RELUCTANT INVESTORS IN THE YEAR WITH THE HIGHEST TAKE-UP EVER

Bucharest, February 2024: Real estate investment transactions amounting to more than €600 million are currently in advanced stages of negotiation, as the volume registered throughout 2023 could be matched in the first half of this year, according to data from the Cushman & Wakefield Echinox re [...] Read more

NEW TAKE-UP RECORD SET ON THE BUCHAREST OFFICE MARKET IN 2023; MORE THAN 1 MILLION SQ. M WERE LEASED IN 2021-2023, IN A PERIOD WHEN TENANTS RECALIBRATED THEIR OFFICE NEEDS

Bucharest, February 2024: 116,000 sq. m of office spaces were leased in Bucharest in Q4 2023, thus bringing the total 2023 transactional volume to over 463,000 sq. m, an all – time annual take-up record, according to data from the Cushman & Wakefield Echinox real estate consultancy company. Th [...] Read more

THE MODERN STOCK OF INDUSTRIAL AND LOGISTICS SPACES EXCEEDED 7 MILLION SQ. M ACROSS THE COUNTRY; 500,000 SQ. M OF NEW PROJECTS DUE TO BE DELIVERED IN 2024

Bucharest, January 2024: The modern stock of industrial and logistics spaces exceeded 7 million sq. m across the country at the end of 2023, almost 80% of the total stock being concentrated in 3 development regions – Bucharest – Ilfov, West and South-Muntenia. Projects with a total area of ar [...] Read more

SECURITAS RELOCATES ITS OFFICES TO @EXPO ATENOR BUCHAREST

Bucharest, January 2024: Securitas, a global leader in security services, relocated its offices in Romania to @Expo office complex developed by Atenor in the Expozitiei area of Bucharest, in a transaction brokered by the Cushman & Wakefield Echinox real estate consultancy company. The company [...] Read more

THE DEVELOPMENT ACTIVITY IN THE RETAIL MARKET REMAINS ANIMATED: CLOSE TO 215,000 SQ. M OF RETAIL SPACES WERE DELIVERED IN 2023, THE HIGHEST LEVEL DURING THE LAST 7 YEARS

Bucharest, January 2024: Developers completed 11 retail projects in 2023, totaling approximately 215,000 sq. m, a record level during the past 7 years, with retail parks having a 60% share, with cities such Bucharest, Craiova, Alba Iulia, Arad, Giurgiu, Vaslui benefiting from such investments. The i [...] Read more

MACROECONOMIC UNCERTAINTY, CONSUMPTION CONTRACTION AND INTEREST RATES ARE THE MAIN CONCERNS FOR REAL ESTATE INVESTORS

Bucharest, January 2024: Macroeconomic uncertainty, consumption contraction, interest rates and also inflation are the main factors which may impact the Romanian real estate market, according to the real estate investors and developers who responded to the second edition of the Cushman & Wakefie [...] Read more

CUSHMAN & WAKEFIELD ECHINOX EXPANDS ITS TEAM: ANAMARIA CRETU JOINS THE OFFICE AGENCY

Bucharest, December 2023: Cushman & Wakefield Echinox strengthens its office agency by recruiting Anamaria Crețu, a specialist with 18 years of multinational corporate experience. With a vast background in the real estate market, Anamaria had been part of Skanska’s team during the past 8 y [...] Read more

CUSHMAN & WAKEFIELD ECHINOX EXPANDS ITS TEAM: RALUCA STANISLAV JOINS AS HEAD OF BUSINESS DEVELOPMENT

Bucharest, December 2023: Cushman & Wakefield Echinox consolidates its team by recruiting Raluca Stanislav as Head of Business Development. Raluca has over 20 years of experience in the real estate and construction industry in Romania and in the entire CEE region. Over the past 10 years, she [...] Read more

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

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 [...] Read more

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

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 [...] Read more

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

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 leve [...] Read more

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

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 [...] Read more

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

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 reg [...] Read more

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

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 bounci [...] Read more

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

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 [...] Read more

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

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 [...] Read more

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

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 [...] Read more

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

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, accordi [...] Read more

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%

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 � [...] Read more

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

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 imp [...] Read more

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

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 t [...] Read more

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

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 [...] Read more

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

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 pr [...] Read more

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

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, [...] Read more

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