The demand for new housing continues to grow on one hand, as the authorities continue to incentivise the market through the “First House” programme and, on the other, as the purchasing power of Romanians continues its ascending trend.
In such rapidly developing environment, the challenge to deliver quality accommodation in as short of time possible remains real and urgent. Delivery requires a careful combination of ingredients: suitable land, viable planning permission, innovative finance, the delivery vehicle, the building contract, buyer, investor or tenant demand and, often, public sector intervention.
The growing needs of modern occupants of residential units brings along a need to develop adjoining mixed uses, with consequential complexity for the structures devised.
Our housing team has experience advising house builders, developers, landowners, registered providers, investors, funders and local authorities on housing and mixed-use development schemes.
We understand all specific issues a developer might face when developing a residential project where multiple buildings are in place, such as dealing with common underground parking, interior alleys, roads and green areas or transformer station and generally organizing supply of utilities.
Romania continues to be one of the main destinations for international retailers to expand in Europe. Expansion programs are mainly directed towards the shopping centre stock, with the prime schemes from the main cities being the main focus.
In 2016, Bucharest has exceeded for the first time 1 million sq m of shopping centre space to reach a density of 532 sq m GLA / 1,000 despite the growth in online sales. But, in an effort to come to terms with the latter issue, high street shops and shopping centers are increasingly challanged to deliver stores and built environments that cater for increasingly sophisticated requirements of retailers and shoppers alike.
Our real estate team have significant experience in acting for retailers, developers and investors. Their wide knowledge and great understanding of the sector allows them to deliver insightful advice with real commercial value. This extends to different legal structures that are becoming more common in mixed use schemes involving retail, leisure and residential uses.
Booming investments in retail and manufacturing, coupled with consistent GDP growth and the presence of numerous automotive companies, have turned the market into an attractive one for freight forwarders and logistics companies.
Our logistics team is made up of leading specialists in a variety of sectors, including real estate, transport and retail and consumer. This mix makes for a strong, talented group of lawyers who are able to draw on their individual experiences and sector knowledge to deliver innovative, commercial solutions at every point of the supply chain.
- The Mega
Office market saw record-high levels of demand in 2017, coupled with an upward evolution in pipeline activity across the main markets. With a generally stable evolution of vacancies, the rental levels have maintained unchanged.
We advise investors, developers, occupiers and funders, our team having the right expertise to help navigate through the challenges and to take advantage of the opportunities that are presented in the current market.
- America House
HOTELS & LEISURE
Growth in the hotels and leisure industry has been driven by the general growth in the Romanian economy and increasing foreign investment. More and more international hotel groups have shown interest to enter the market as it picked up attractiveness.
We act for leading hotel investors, developers, financiers, and operators worldwide.Our team has gained deep insight into issues that are likely to be encountered in any deal. From management agreements to hotel portfolio sales and purchases, to new developments and financings.
- Accor Hotels