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Andreea Mihai Joins Hagag Development Europe as Chief Executive Officer

Real estate developer HAGAG Development Europe announces the consolidation of its management team by appointing Andrea Mihai as Chief Executive Officer.

White Star Real Estate partnering with Griffes for leasing and marketing operations of Liberty Technology Park in Cluj-Napoca

Apart from the residential phase, that is already under construction and will totalize 268 residential units to be delivered in 2023, White Star Real Estate is planning to launch the next phases of the development, that will imply a total investment of 75mil. Eur. The projects will be erected on available land of 20,000 square meters and will include 32,000 square meters of office space within three buildings, a kindergarten and 5,000 square meters of commercial facilities.

One United Properties shares are upgraded within the FTSE Global Equity Index Series

On September 19th, 2022, the shares of One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use and office real estate, were effectively upgraded within the FTSE Global Equity Index Series for Emerging Europe, moving from the small-cap to mid-cap category. The upgrade reflects the increased market capitalization of One United Properties and the solid liquidity of ONE stock on the Bucharest Stock Exchange.

Demand for offices and industrial spaces increased in the first half of 2022

Demand improved during the second quarter, while deliveries are limited and vacancy rates continue to fall, according to the Bucharest City Report Q2 2022, published by real estate consultancy JLL.

Prime Kapital and MAS plan to invest almost 2 billion euros in Romania’s real estate market by 2029

Prime Kapital, an integrated real estate developer and investor, and its investment partner MAS PLC, a green property investor and operator focused on retail properties in CEE plan to invest 1,97 billion euros in retail, office, and residential developments in Romania, by 2029, after having secured over 1,5 million square meters of development GLA/GSA.

One United Properties posts a turnover of 136.7 million euro and a gross profit of 78.8 million euro in the first half of 2022

One United Properties (BVB: ONE), the leading Romanian green developer of residential, mixed-use and office real estate, recorded a consolidated turnover of 136.7 million euro in the first half of 2022, a 54% increase compared to H1 2021.

New property tax rules from 2023

Starting 2023, real estate taxation is changing radically. The main changes consist of increasing the tax rate, for both residential and non-residential buildings, and adjusting the rateable value to which these tax rates apply.

Residential deliveries have not kept up the pace with the high demand

Romania’s residential market is heading for a new record in deliveries this year as well, but the development pace has not kept up with the evolution of demand over the past two years. In addition, the price of new homes continues to rise as new projects incorporate increased prices for building materials, Colliers consultants point out.

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