Value of real estate deals in Romania, up 43% in H1

The total value of real estate deals in Romania reached EUR 530 million in the first half of this year, up 43% over the same period last year, according to a report C&W Echinox published yesterday. The local market recorded the sale of six portfolios of shopping centers. Atterbury acquired a 50% stake in four Iulius Mall shopping centers, while Mitiska bought a stake of 50% in a portfolio of eight retail parks, respectively a portfolio of another 11 retail parks. The market also saw the sale of the last four spaces where Real hypermarkets still operated, as well as the sale of the Praktiker shops in Ploiesti and Constanta. The sector’s evolution was also triggered by the overall good evolution of the Romanian economy and the higher consumption. Romania’s economy went up by 5.8% in the first six months of this year over the same period last year. Almost a quarter of all real estate deals took place in Bucharest, according to C&W Echinox. Romania’s capital saw the sales of several office buildings during this period, including Green Court C, Polona Business Center, ART Business Center 7 and Cascade Offices. Colliers: New hotel brands to enter Romanian market in partnership with real estate developers editor@romania-insider.com