The value of deals with commercial real estate properties in Romania, in the first half of 2014, was about EUR 400 million, triple compared to the same period of 2013.

“The office sector contributed more than 50% to the overall investment volume, the most significant transactions being the acquisition of BOB, BOC and Upground projects in Pipera by Globalworth and the intra-group trading of the Charles de Gaulle Plaza office building, transactions that do not yet give any signal on the growth of liquidity in the market,” said Marius Grigorica, manager at DTZ Echinox.

He added that most transactions were financed by local capital, as speculative investors targeted discounted properties. Such were the acquisition of Moldova Mall shopping center in Iasi by Romanian businessman Gheorghe Iaciu and Kiseleff Development’s acquisition of the former Grivita beer factory.

editor@romania-insider.com