Message
Following on from our profile of Montenegro last week, we focus here on another up-and-coming part of Eastern Europe. Bucharest, the largest city in Romania, has become an increasingly popular tourist destination in recent years and may have particular appeal to digital nomads looking for a better quality of living for less.
The Romanian capital has attracted over €3.5 billion in large-scale real estate projects, with delivery dates between 2020 and 2023, according to the latest market analysis conducted by Bucharest Real Estate Club.
Major international real estate buyers that have entered the Bucharest market in the last five years include American investors Morgan Stanley, Cerberus and White Star, South African funds MAS REI, Atterbury and Fortress, and Israeli investors such as Adam Europe and the Dayan family.
BSTDB lends 50 mln euro to Romanian real estate co One United Tower One Tower office building
Source: One United Tower
BUCHAREST (Romania), February 16 (SeeNews) - The Black Sea Trade and Development Bank (BSTDB) said on Tuesday it has extended a 50 million euro ($60.7 million) loan to Romanian real estate company One United Tower to finance the development of an office building in Bucharest.
One Tower is due for inauguration in the first half of the year and will be part of the newly developed One Floreasca City mixed-use complex, located on a formerly abandoned industrial site, BSTDB said in a press release.
Confidence among private equity (PE) firms has hit its lowest level since the global financial crisis as a result of the COVID-19 pandemic, but deal-doers
Romanian real estate developer One United Properties took over a 20% stake in facade supplier Glass Rom Impex from the company’s owner. Glass Rom Impex recently produced and installed the curtain walls of the buildings in One United’s One Mircea Eliade project in Bucharest.
Adrian Zamfir, who founded the facade supplier in 1995, sold 20% of his 90% stake to One United. The other partner is Adrian Albulescu, head of project management within Glass Rom.
“We strengthened the relations with some of the reliable partners, and we acquired 20% in facade company Glass Rom and 20% in installation company Reinvent Energy. These are two contractors we have worked with several times, and we decided to invest in them. It is part of our strategy to invest in serious long-term partners. We will continue to invest in Romanian entrepreneurial companies,” said Victor Capitanu, one of the founders and shareholders of One United Properties.