Land deals in Bucharest reach about EUR 170 mln in nine months

Land plots totaling over 60 hectares were traded in Bucharest in the first nine months of this year, on which around 8,000 dwellings, 180,000 sqm of offices as well as commercial spaces can be developed, according to an analysis by local real estate consultancy firm Cushman & Wakefield Echinox. The firm monitored 24 medium and large transactions between January and September with a cumulative value of approximately EUR 170 million. Similar to 2017, Romanian developers were the most active, accounting for more than half of the total volume. Along with them, investors from Israel (AFI Europe, Hagag), Belgium (Mitiska, Speedwell), Turkey (Opus Land) or Germany (Kaufland, REWE, Lidl) were also involved in land transactions in Bucharest. Residential developers had the biggest share in the total land acquisitions. Some of the biggest deals were: AFI Europe taking over a four hectare plot adjacent to the AFI Palace Cotroceni mall, the sale of the former nine-hectare Helitube platform in Colentina to Belgian group Mitiska, the acquisition by One United of a 2.6 ha area on the Lake Floreasca shore and the transaction by which Speedwell bought a land of 4.6 ha in the Jandarmeriei - Baneasa area. editor@romania-insider.com