Real estate developers in Romania double their land purchases in 2018

Real estate investors bought approximately 140 hectares of land for office, commercial, residential or industrial space developments in Romania, in 2018, double compared to 2017, according to a report of real estate consultancy firm CBRE.

Commercial, mixed projects, as well as industrial and logistic developments, increased in 2018, determining some of the biggest land transactions. Most of the land transactions took place in Bucharest.

A significant trend in local real estate development is the emergence of "mixed-use" real estate projects, which combine two or more components, such as office space with commercial and residential, according to CBRE.

The office space segment has been dominated by companies such as Globalworth, Portland Trust and Forte Partners, which purchased land plots with a total estimated value of 23.7 million euros and a total area of 32,000 sqm in 2018.

Major residential investors such as Opus Land and One United Properties also bought about 116,000 sqm for new projects, for which they paid about EUR 20.4 million.

Developers of logistics and industrial spaces such as P3 and WDP bought in 2018 land plots totaling 600,000 sqm, this being one of the most active segments of the local real estate market in recent years.

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