Bucharest continues to play an important role on the Romanian investment market. Romanian buyers accounted for 28 percent of the volume of transactions in 2019 and over 15 percent in 2020. In total, the transactions last year were EUR 900 mln, according to JLL estimates: The most active local players were the Pavăl brothers, One United, Lotus Center and Industrial Element.
The Pavăl brothers completed last year the takeover of a third building of 21,000 sqm within the The Bridge project in Bucharest, two years after the acquisition of the first two buildings.
Element Industrial completed the acquisition of the Ploiești Logistic Park project, transformed into Eli Park 7. The Lotus Center group of companies, owned by the Mudura family, acquired the Oradea Plaza multifunctional complex from Portico Investments Romania and One United bought a EUR 15 million office building from Conarg.
“Even if the Romanian economic environment was significantly affected by the Covid-19 crisis, the real estate investment market registered a healthy growth from one year to another, being the only market in Central and Eastern Europe that recorded an advance in 2020” , says Andrei Văcaru, Head of Capital Markets JLL Romania.
