BREC Premier League All People You Should Know

BUCHAREST REAL ESTATE CLUB
1
REAL ESTATE PREMIER LEAGUE
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COMING UP THIS AUTUMN
BREC REGIONAL CITIES

ALL MAJOR REAL ESTATE DEVELOPMENTS
FAST FORWARDING ROMANIA
Brasov
Timisoara
Cluj -Napoca
Arad
Sibiu
Oradea
Constanta
Craiova
Ploiesti
Iasi
[email protected] 3
Despina Ponomarenco
President, BUCHAREST REAL ESTATE CLUB
THE FIRST POWERLIST ON THE

ROMANIAN REAL ESTATE MARKET
All People You Should Know
Romanian real estate market is getting ready for a new development cycle, fuelled by a strong economic
development (+2.8% in Q1 2021 vs Q4 2020 and an estimated 6% growth for 2021, according to the Interna-
tional Monetary Fund, which estimates Romania will register the 2nd highest economic growth in EU in 2021).
We expect an effervescence in the logistics sector (both as response to increasing market demand and as a
result of the reconfiguration of post - pandemic transport routes will continue to fuel the need for logistics in
Romania). The local real estate market is not saturated on the other classes of real estate assets either and with
the post-pandemic “back to the new normal” we will see increases both in the field of offices and in the field of
retail or hotel. On the residential segment we see a high potential given the old high stock (Romania has the
oldest housing stock in the EU, 87% of its total being built before 1990) which no longer meets the standards of
the new generations.
For all parties interested in a comprehensive outlook of the Romanian real estate segment, we here indexed the
main owners, entrepreneurs and skilled managers active in the market, having used as starting point their
volume of investments and largest projects under development:
KEY REAL ESTATE INVESTORS IN ROMANIA
COMPANY PORTFOLIO VALUE PROFILE PORTFOLIO LEADERSHIP

NAME (ROMANIA)
NEPI Rockcastle € 2 bln. Investor & Retail Alex Morar
developer CEO
Globalworth Group € 1.4 bln. Investor & Office & Industrial Dimitris Raptis
developer CEO
AFI Europe € 1.3 bln. Investor & Retail, Office & Residential Doron Klein
developer CEO
Iulius Group & € 1.2 bln. Developer Retail & Office Iulian Dascalu
Atterbury Founder
€ 1 bln. Investor & Industrial Remon Vos
CTP developer Founder
€ 0.8 bln. Investor & Retail & Office Fulga Dinu
Immofinanz developer Country Manager
€ 0.7 bln. Investor & Industrial Jeroen Biermans
WDP developer Founder
Source: Cushman & Wakefield Echinox
LARGEST OFFICE INVESTMENTS IN ROMANIA / 2021
OFFICE PROJECTS AREA / DEVELOPER CITY LEADERSHIP

UNDER DEVELOPMENT SQM
One Cotroceni Park I & II 80.000 One United Bucharest Victor Capitanu &
Properties Andrei Diaconescu
Founders
Palas Campus 60.000 Iulius Group Iasi Iulian Dascalu

Founder
Expo 48.500 Atenor Bucharest Sorin Dumitrascu

Country Manager
J8 Office Park 45.000 Portland Bucharest Florin Furdui

Country Manager
U Center 32.000 Forte Partners Bucharest Geo Margescu

CEO
UBC 0 32.000 Iulius Group Timisoara Iulian Dascalu

Founder
5
LARGEST LOGISTIC & INDUSTRIAL INVESTMENTS IN ROMANIA / 2021

INDUSTRIAL PROJECTS AREA/ DEVELOPER CITY LEADERSHIP
CTPark Bucharest West 101.800 CTP Bucharest Remon Vos

20-21 Founder
WDP Park Craiova 58.000 WDP Craiova Jeroen Biermans
Founder
WDP Park Timisoara 57.000 WDP Timisoara
WDP Park Stefanesti 50.000 WDP Bucharest
CTPark Bucharest 40.000 CTP Bucharest Remon Vos

North Founder
LARGEST RETAIL INVESTMENTS IN ROMANIA / 2021

RETAIL PROJECTS SURFACE DEVELOPER CITY LEADERSHIP
Colosseum Mall 16.500 Nova Imobiliare Bucharest Panico Panayi

Extension Founder
Barlad Value Center 16.300 Prime Kapital Barlad Martin Slabbert
Managing Partner
Prima Shops Sibiu 9.000 Oasis Consulting Sibiu Klaus Reisenauer &
Kurt Wagner Founders
Baia Mare Shopping 8.200 Square 7 & Baia Mare Clemens Petschnikar
Park Mitiska CEO Square 7
Shopping Park Medias 8.000 Square 7 & Medias Clemens Petschnikar
Mitiska CEO Square 7
KEY RESIDENTIAL PROJECTS UNDER DEVELOPMENT BUCHAREST / 2021
PROJECT NUMBER DEVELOPER CITY LEADERSHIP

OF UNITS
One Cotroceni Park 868 One United Bucharest Victor Capitanu &
Properties Andrei Diaconescu
Founders
Nusco City 622 Nusco Bucharest Michele Nusco

CEO
Greenfield Residence 544 Impact SA Bucharest Gheorghe Iaciu

Main shareholder
Cortina North 530 Eden Capital Ilfov Abu-Lail Akram &

Development Dan Liviu Marius
Founders
Belvedere Residences 482 London Bucharest Richard McLaughlin-Duane

Partners CEO
Source: SVN Romania & BUCHAREST REAL ESTATE CLUB (middle market projects in Bucharest & suburbs)
One Cotroceni Park 7

All People You Should Know
MAJOR INVESTORS IN ROMANIA
9
Profile:
CEO, Globalworth Group
Portfolio value of Globalworth Group:

€3.0 billion
Real Estate experience:

25 years of experience in the financial services and
real estate industries
DIMITRIS RAPTIS
THE MOST POWERFUL MAN IN
CEE REAL ESTATE
Dimitris Raptis, a seasoned business leader with 25 years of experience in the financial services and real estate
industries, is the CEO of Globalworth Group, a pioneering real estate institutional investor, developer, and
asset manager active in the CEE region.
He was Globalworth’s Co-CEO between March and December 2020. He joined the Group when it was founded
in 2012 as Deputy CEO and Chief Investment Officer. In this role, he was involved in most of the Company’s
activities, with primary responsibility for Globalworth’s investment and capital raising initiatives, and since
2017, Globalworth Poland, the Group’s Polish

business.
Investments in work
During this period, he oversaw acquisitions and
developments worth Euro 2.7 billion as well as the Over €79 million undergoing investments,
raising of Euro 5 billion of equity capital and debt representing investments in projects such as
capital which propelled Globalworth from an asset
Globalworth Square (Romania), the
base of Euro 53m when it was listed in London’s AIM
market exchange in 2013 to over Euro 3 billion reconversion of the Renoma project (Poland)
today, becoming the largest office investor and and various extensions or investments within
landlord in the CEE region. Globalworth Industrial, Globalworth's logistics
and light industry sub-brand.
Before joining Globalworth, Mr. Raptis spent 16 years
in Deutsche Bank, most of them as a senior member
of the real estate investment management group of
Deutsche Bank's Asset and Wealth Management
Globalworth is the leading real estate company in
division ("RREEF"). From 2008 to 2012, he was
Central and Eastern Europe, with focus on Poland and
Managing Director and European Head of Portfolio
Romania, CEE’s two largest property markets.
Management for RREEF Opportunistic Investments,
Globalworth owns 49 standing Class A office buildings,
the real estate private equity division of Deutsche
in prime locations within their respective sub-markets,
Bank. During his tenure with RREEF he managed and
their portfolio also including a number of landmark and
executed real estate transactions across Europe with
strategic investments mainly in office, mixed-use
a total value in excess of Euro 12 billion.
(office/commercial) and industrial. The company holds a
diverse tenant base composed of 650 corporations.
Dimitris Raptis has a First Class (HONS) BSc in Bank-
ing and International Finance from Cass Business
School, London.
Contact:
+40.372.800.000
“As the leading office investor in Central and
[email protected]
Eastern Europe (CEE), we will continue
promoting our current portfolio and assets to
new tenants for the office segment, as well as
expand our logistics portfolio, Globalworth
Industrial.
At the same time, we will continue monitoring

the market for attractive investment
opportunities in the office segment - we are in
the privileged position to ample liquidity at our
disposal, and the purpose is to invest it wisely –
we expect 2021 to be predominantly a year of
actively managing our existing office portfolio
and working side by side with our tenants,
together creating the office of tomorrow for
the long run.
At the same time, we will keep close to and

support our clients and the broader community
within which we live and operate, reinforcing
our position as THE landlord of choice in our
home markets.”
11
Profile:
Managing Director, Globalworth Romania
Portfolio value of Globalworth Group:

€3.0 billion
Experience:
over 40 years of experience in financial services,
business services, outsourcing & technology
MARIAN V. POPA
ADDING FAST FWD TECHNOLOGY
TO REAL ESTATE
Marian V. Popa, a recognized senior corporate operational leader, is the Managing Director of Globalworth for
Romania, starting March 2021. In this role, he is responsible for managing the company’s activities in Romania,
focusing on operational, administration and business development matters.
Marian V. Popa brings a wealth of senior management experience focused on financial services, business
services, outsourcing and technology sectors with multinationals such as Deutsche Bank, Endava, Fujitsu and
Rank Xerox.
Before joining Globalworth, in his most recent role as Globalworthà real estate portfolio has a combined
Managing Director of Deutsche Bank Global value of €3.0 billion and is managed by an internal
Technology Romania, between 2014 and 2021, he team of over 200 professionals mainly located in
created one of the four strategical technology centers Poland and Romania. In Poland the company is
of Deutsche Bank worldwide managing over 1.000 present in Warsaw and 5 other major regional cities,
people. while in Romania the properties are located in
Bucharest and 5 other regional hubs.
Prior to his position at Deutsche Bank, Marian V. Popa
was the Chief Executive Officer (CEO) of notable Contact:
companies such as Endava CEE (over 7 years), +40.372.800.000
Fujitsu/ICL (8 years) and Xerox Romania & Moldova [email protected]
(over 14 years).
He founded the consulting company Transformative

Coaching and several NGOs such as the Foundation
for the Medieval Art Festival in Sighisoara, The
American Chamber of Commerce, The British –
Romanian Chamber of Commerce, AOAR,
Transparency International Romania and many
others.
Globalworth’s Managing Director in Romania holds a

degree in Economics and Foreign Trade Relations
(Romania) and three diplomas in Executive
Management Education (UK, Belgium, and France).
“Romania is a market that is emerging as

winner from this crisis, an obvious choice
for multinationals looking not only to
reduced costs, but also to find human
capital. It will witness substantial growth
and FDI into 2022 and onwards, which
automatically translates into growth for
the property segment.
2021 in the real estate market will be

marked by PropTech solutions and
Customer Care. People are still being
cautious now, but surely and safely
people will be coming back to the office
over the coming period, and technology
is one of our many allies in making this
transition back to work run smoothly.”
The developer is bringing the future closer in the

Romanian office market with Globalworth Square, the
most technologically advanced building in their
portfolio - as an example, Globalworth Square
benefits from touchless access into the building, a
simple yet key aspect. “And last but not least, tech is
closely interwoven with sustainability by helping us
build more energy efficient buildings, from lower
emissions to car charging stations; at Globalworth
Square we are producing our own energy through
rooftop PV panels”, Marian V. Popa ads.
13
Profile:
Co-Founder & Executive Director, One United
Properties
Consolidated turnover of One United Properties

(2020): € 110 mil.
Experience:
More than 20 years in real estate development
alongside banking & investment experience
VICTOR CAPITANU
THE MAN BEHIND THE NUMBERS
Victor Capitanu is Co-Founder and Executive Director of One United Properties, a game - changing
development company that reported a consolidated turnover of EUR 110 mil. in 2020.
Victor is a CFA charter holder, with a degree in Financing & Banking from Bucharest Academy of Economic
Studies and has attended an Executive Private Equity Program at Harvard University and an Executive program
at Singularity University in Silicon Valley.
Victor is coordinating Sales, Marketing and Investments and as Co-Founder and Executive Director of United
Properties, Victor Capitanu has focused in the past 2 years on developing sustainable investments for the
company meant to ensure continuity and market

value for One United Properties green projects.
The developer has also entered the office real estate
market after years of important achievements on the
residential segment. In terms of company reputation,
the developer was internationally awarded for the
mixed-use project One Floreasca City with “Best
Sustainable Residential Development” in the world at
International Property Awards 2019-2020.
“One United Properties has succeeded in

having a natural growth and in becoming a
leading green developer of residential, mixed
use and office real estate. In the upcoming
years we aim for One to become a national
leader and a strong regional player in the real
estate segment.
2021 is an important year as we have

announced our intention to be listed on the
Bucharest Stock Exchange this summer. We
will invest in the development of new
residential or mixed projects, with a focus on
developments for middle- and upper-income
clients, where we see great growth potential.
In parallel, we will develop the portfolio of
rented properties.”
One United Properties is one of the largest and most

successful high-end residential, office and mixed-use
developers in Romania, with an active project pipe-
line comprising over 2.000 design residential units.
The company founders have invested in real estate

since 2000 and developed the first residential build-
ing in 2006 and starting with 2013 they have expand-
ed real estate projects under the brand One, turning
it into the leader of the high-end residential market in
Romania, with multiple awards for architecture,
design, development, but also for sustainability. The
company had a rapid growth and turned into a
profitable business, while becoming the author of
landmark real estate projects on the Romanian
market.
One United Properties announced its intentions to be

listed at the Bucharest Stock Exchange in 2021.
Contact:
+40 31.225.1000 | offi[email protected]
15
Profile:
Co-Founder & Executive Director, One United
Properties
Consolidated turnover of One United Properties

(2020): € 110 mil.
Experience:
More than 20 years in real estate development
alongside banking & investment experience
ANDREI DIACONESCU
BUILDING STRONG RESULTS
Andrei Diaconescu is Co-Founder and Executive Director of One United Properties, coordinating Operations,
Finance and Legal.
Andrei holds an EMBA from ASEBUSS and an International Law Degree from the University of Macedonia,
Thessaloniki. Andrei speaks Romanian, English and Greek.
Focusing on operations within the company, in the past years Andrei Diaconescu has coordinated a strong
team delivering sustainable and state-of-the art architectural projects. The company is one of the first to
introduce to Romanian real estate market the mixed-use projects encompassing residential, office and leisure
and commercial units, and also the ambitious

regeneration projects that aim at revitalizing formed
abandoned areas, such as One Cotroceni Park or
One Herastrau Towers.
The company succeeded in innovating both in terms

of the concept of residential and mixed projects, but
also in terms of construction practices, which result in
energy-efficient, sustainable, and environmentally
sound buildings.
“We intend to continue our efforts to develop

sustainable real estate projects at
international standards for the Romanian
market.
With the listing on the Bucharest Stock

Exchange, we see great growth potential for
the company, and we want to contribute to
the development of a healthy and strong
capital market. We plan to develop residential
and mixed real estate projects, both in
Bucharest and in other main cities in Romania
or in the region.”
Contact:
17
Profile:
Country Manager Operations, IMMOFINANZ
Romania
Portfolio value of Immofinanz Romania

€ 749.2 mil. (15% of Immofinanz Group total
portfolio)
Experience:
21 years in real estate and investment banking
FULGA DINU
A HIGH PROFILE INVESTMENT BANKER IN
REAL ESTATE
Fulga Dinu started her career in New York as an investment banker for JPMorgan. In the early 2000s, upon
returning to Romania, she established and led the real estate division of HVB Bank, at a time when the real
estate industry was taking shape. This experience was followed by the position of Country Manager at
Eurohypo AG (at that time, the real estate lending arm of Commerzbank AG). This gave her the opportunity to
grow with the market as she was directly involved in some of the largest real estate projects and transactions in
Romania, in retail, office and logistics.
Further on, she consolidated this knowledge in

executive positions in the real-estate industry for
development companies. Fulga Dinu has been taken
over the position of Country Manager Operations at
IMMOFINANZ Romania starting with March 2018.
IMMOFINANZ differentiates on the Romanian market
with its real estate solutions – myhive for high-quality
offices with a warm atmosphere and lively community
as well as the cost-efficient STOP SHOP and VIVO!
retail brands. With its robust financial base, the
company intends to return to a profitable growth
course as soon as possible.
IMMOFINANZ focuses on constantly adapting to the

increasingly sophisticated needs of the tenants,
therefore flexibility has become one of the main
pillars of the myhive concept, the company official
explains. This new component brings an upgrade to
this concept and allows Immofinanz to offer an
extremely varied range of options to their tenants, in
order to be able to accommodate almost any type of
requirement, coming from companies active in any
type/ business model. “This product has already been
implemented with great success in Vienna and
(recently) Warsaw, and we are currently working on
its implementation in myhive buildings in Bucharest,”
Fulga Dinu says.
“We focus on growth, especially for our

successful myhive brand on the office market.
Regarding our retail products we focus on
STOP SHOP, as we already have a good VIVO!
presence in Romania. Our STOP SHOPs are a
cost-efficient, high-yielding and crisis resilient
retail format.
The IMMOFINANZ properties in Romania
At the core of our business is our community have a book value of EUR 749.2 million for the
of tenants and this remains a priority in our
activity.”
year 2020 and represent 15.0% of the
company’s total portfolio.
The standing investment portfolio of EUR

611.7 million splits into 8 office buildings
(10.6% of the total standing office portfolio)
and 5 retail properties (19.2% of the total
The main ongoing investments in Romania concern standing retail portfolio).
the renovation of the recent landmark acquisition,
Bucharest Financial Plaza into a high-quality and Occupancy rate remained high at a level of
green myhive building with a sustainability certifica-
tion of at least Gold standard. Another key project is 93.2% while rental income reached EUR 50.3
the launch early next year of a private hospital which million.
will occupy the entire IRIDE eighteen building.
Contact:
fulga.dinu@immofinanz.com
19
Irina Dimitriu Alexandra Smedoiu

Partner, Reff & Associates | Deloitte Legal, Partner and Real Estate Industry Leader,
Head of the real estate practice Deloitte Romania
ALL EYES ON SUSTAINABLE BUILDINGS

By Alexandra Smedoiu, Partner and Real Estate Industry Leader, Deloitte Romania, and Irina Dimitriu, Partner,
Reff & Associates | Deloitte Legal, Head of the real estate practice
The EU aims to be climate-neutral by 2050, a goal that also finance ratio of more than 50% by 2025. In real estate, the
involves decarbonising buildings as to diminish their extensive bank's priorities include the management and development of
direct and indirect impact on the environment. During the green and sustainable buildings.
construction, occupancy, renovation, repurposing and demolition,
buildings use energy, water and raw materials, generate waste All principles and public statements supporting the green
and potentially harmful atmospheric emissions. These factors have projects may sound rather theoretical for other industries, but for
prompted the creation of green building standards, certifications real estate in particular, things are changing even faster than
and rating systems aimed at mitigating the impact of newly anticipated. As such, starting this year, all new buildings must
developed constructions on the environment through sustainable meet the NZEB standard.
design.
What is NZEB?
Considering the need for increased transparency in informing
shareholders and investors on the companies’ impact on people Buildings consume 40% of the total energy and emit 36% of the
and environment, the European Commission recently adopted the greenhouse gas in Europe, therefore representing a high
Sustainable Finance Package to help the redirection of private potential for energy savings. In the recast Energy Performance of
capital towards green activities. The package includes a new Buildings Directive (2010/31/EU), the term Nearly Zero-Energy
Corporate Sustainability Reporting Directive (CSRD), which would Building (NZEB) was defined as a “building that has a very high
revise the existing reporting rules introduced for public-interest energy performance.” The directive states that, as of January
entities by the Non-Financial Reporting Directive (NFRD). The 2019 for public buildings and January 2021 for others, all newly
CSRD proposal extends the scope of the NFRD to all large built construction should reach the NZEB target in all member
companies and listed companies. states, including Romania.
Basically, we expect that a wider range of companies (all large Within this perspective, bank financing will surely be oriented to
companies, either listed or not, as well as SMEs) will become the projects eligible for ensuring the transition to a sustainable
publicly accountable for their impact on people and the environ- economy. There are already banks in Romanian that have
ment. announced that, if they had to choose between two projects,
one with a green component and another without one, the first
At the request of EC, the European Banking Authority (EBA) one would have priority in financing, even under less favorable
published a set of KPIs for the disclosure by credit institutions and conditions for the bank.
by investment firms of information on how and to what extent their
activities qualify as environmentally sustainable. Moreover, the So real estate developers will likely follow these trends in order
EBA underlines the importance of the green asset ratio as a key to comply with the new sustainability standards, but to also
means to understand how institutions finance sustainable facilitate access to the best financing for their projects. As a
activities. These actions could result in lower funding costs for source of funding, they can also consider European funds
projects compatible with EU environmental objectives. granted through the Next Generation EU (National Recovery and
Resilience Plan in Romania – PNRR), given that the plan is
Therefore, EBA took a step further as compared to the EC in the strongly linked to the need to fight climate change with the
sense that the companies’ accountability for their impact is no objective of reducing greenhouse gas emissions.
longer sufficient, but the development of green projects is
financially encouraged. The manner in which this mindset change will reshape the cities
of Romania is yet to be seen. The next question is whether
At the same time, the EBRD new Green Economy Transition (GET) Bucharest will champion this new wave or other major cities
approach for 2021-2025 includes climate action to reduce energy (such as Cluj-Napoca, Timisoara or Iasi) will start setting the tone.
and carbon intensity and sets a new target to reach a green Let the “green” and “sustainable” music play!
DORON KLEIN
CONQUERING NEW
TERRITORIES
Profile:
CEO, AFI Romania & Czech Republic
Portfolio value of AFI Europe:

€ 1.4 bn.
Real Estate experience:

More than 20 years' experience operating
in CEE real estate markets
Originally from Israel, Doron Klein has more than 20 In October, 2020 the company inaugurated AFI Brasov,
years’ experience operating in Central and Eastern a mixed-use project combining 45.000 sqm GLA
European real estate markets, having been based in shopping center with 15.000 sqm GLA office spaces
Czech Republic for most of that time. He joined AFI (AFI Park Brasov) in the heart of Brasov city. The project
Europe in 2008 and since 2011 he has served as CEO of received the LEED GOLD green certification, being the
AFI Europe's operations in the Czech Republic. In 2018 first mixed-use project in the county to award such
Doron was also appointed as CEO for AFI Europe recognition.
Romania operations.
Doron Klein has an MBA degree from The University of

New York in Prague, Czech Republic and he is fluent in Key projects:
Hebrew, English and Czech. AFI Europe bought the office portfolio of
NEPI-Rockcastle (118.500 sqm spread over 4 Class
A business parks and 8 buildings in total), in the
“In the next period we will continue to largest office transaction on the market, valued at €
improve and grow our portfolio which 290 mil. AFI opened the AFI Brasov mixed – use
currently stands at ~ 170.000 sqm retail development and entered the residential market in
spaces and ~ 300.000 sqm office spaces both 2018 with AFI City.
by advancing the development plan on our
existing land bank as well as by potential
acquisitions of more standing properties.”
Contact:
+40 21 412 0220 | leasing@afi.global
At the beginning of 2020, AFI Europe Romania

delivered to the final users its first residential complex
developed in the Romanian market, enjoying the know -
how the company gained in the region for the last 20
years. AFI City Bucurestii Noi delivered 190 apartments
in Phase I and is located exactly at Laminorului metro
station. 21
BREC TALKS:
CHRISTOPHE WELLER,
COS - CORPORATE OFFICE SOLUTIONS:
KEEP DEVELOPING OUR REACH AND
SOLUTIONS FOR ALL SEGMENTS
UPHOLDING OPPORTUNITIES
COS - Corporate Office Solutions has a privileged Healthy and safe interiors are a key market trend,
position on the office segment, as leader on the while the integration of technology and smart
office fit-out market. This position comes also with features into the way we design interiors will also
responsibility, as we always look at trends and try gain more and more ground in the coming years. We
to anticipate what will be next in the post-pan- are also experiencing a more and more demanding
demic world, says Christophe Weller the founder generation of corporate clients and companies that
and owner of COS, the largest integrator of interi- bring added value to their customers will be the
or design solutions in Romania. winners.
As key market player in this segment, COS hold Opportunities

significant competitive advantages in the post-pan-
demic world, says Christophe. “The 23 years` experi- We already hold a portfolio of high-profile projects
ence on the market (we are the first interiors integra- from other market sectors, among which HoReCa
tor established in Romania and the market leader), (Radisson Blu Hotel Bucharest), healthcare (#Noi-
the strong exclusive partnerships we have in Romania FacemUnSpital initiative – the first Pediatric Oncolo-
with strong brands as Steelcase and Interface and the gy, Radiotherapy & Trauma Hospital in Romania will
complete integration of our services, which means we have COS interiors) or education (Deutsche Schule
provide turnkey solutions to our clients (from work- Bukarest, Lycee Francais Anna de Noailles).
place consultancy & design, to complete fit - out,
project management of the projects and office The market as we see it is full of opportunities,
furniture supply). Even from early stages of their especially in what regards the counterbalance of
office scouting process, we can work side-by-side private service as response to the lack of quality in
with corporate tenants and make their lease and the public system, such as the education system for
fit-out processes more efficient, which will be a great example.
differentiator in the coming period. “
The space occupier is the ultimate beneficiary of
The business trajectory an interior space and with the change of genera-
tions in Romania the occupiers will demand better
In 2020, COS registered a 23 mil. EUR turnover, quality in all segments – and we are here to
which is a great achievement considering the full provide. Based on our leadership and extensive
lockdown period and the pandemic context, when experience on the office segment, we will keep
the office lease activity decreased. Many of our developing our reach and solutions for all
customers took the “social distance” opportunity to segments upholding opportunities in the next
design or redesign their office interiors, as most of period.
their employees were working from home, which
proved to be very efficient for them.
In over 23 years of activity, COS has successfully
In the unusual context of 2020, COS was contracted implemented projects for more than 2.000 companies
to fit out a total of about 58.800 sqm of office space, in Romania, several of our most representative
for which we provided concept design, complete fit projects being Accenture, Microsoft, Secom, Schlum-
out and consultancy during the project implementa- berger, NTT, Porsche Engineering Cluj, Google,
tion, standard and/or custom-made furniture, flooring Nestle, Reckitt Benckiser, MHP Cluj, Sector Labs Cluj,
solutions. Record Park Cluj, Cognizant Cluj, Riverbed Technolo-
gy Cluj, Takeaway Bucharest.
We also sign several stand-out projects from
outside of the office segment, among which
Radisson Blu Hotel Bucharest and Marie Curie
Hospital extension by Daruieste Viata NGO. Christophe Weller founded COS in 1998 together
with 3 partners, after being a furniture Salesman of
For 2021 and the next years, we aim to consolidate the Steelcase dealer in Saudi Arabia for 4 years and
our portfolio of clients, continue to organically the Sales Director of the Steelcase dealer in Moscow
increase our business, and remain the turnkey for 2 years. He was 29 years old, knew nothing about
partner of choice for clients aiming for contemporary, Romania and it was the first time he entered entrepre-
qualitative, innovative, healthy, and smart interior neurship.
spaces and management of new projects in order to COS started with 5 employees and an office based in
keep up with new challenges and opportunities. a 60 sqm apartment. The first money he invested
came from a $ 200.000 loan, the only loan ever made
Trends by Christophe for his company. The 5 employees are
still in the company, apart from one who retired.
The increased focus on health, safety and wellbeing At present, COS has a 23 mil. EUR turnover, almost
will have a major influence on the way we think 100 employees and signs contemporary fit –out
interiors. Innovation, digitalization and expanding the projects for more than 2.000 office spaces, as well as
line of products and design solutions for our clients premiere projects in the Medical, HoReCa and
are our responses to the new market challenges. Educational sectors.
23
IULIAN DASCALU
Profile:
Chairman, Iulius Group
Portfolio value of Iulius Group:

> 1 bn. €
Experience:
More than 20 years of experience operating
in Romania
Iulian Dascalu founded Iulius Group in 2000, company Timisoara), the only ones of this kind in Romania, as
which became the largest Romanian owner of well as a nationwide network of regional shopping
shopping malls on the local market. malls (Iulius Mall – Iasi, Cluj-Napoca and Suceava).
These are vibrant spaces that define poles of urban
His business started in the early 90s, at first with a few attraction and draw more than 68 million visitors every
shoe stores, followed by Iulius Commercial Centre in year.
1995 and Terra Commercial Centre in 1996. His first
mall was Iulius Mall Iasi in 2000, the first shopping mall In the last 10 years, Iulius Company also became one
outside of Bucharest. as the most active developers and operators of class A
office spaces, building regional business hubs and
Now Iulius Company is the only developer and creative multinational communities in three major
operator of mixed-use urban regeneration projects in academic centers in Romania, namely Iasi, Timisoara
Romania, with more than 20 years of real estate and Cluj-Napoca. In total, there are 13 green buildings
experience and operating in 4 major Romanian cities, with a total area upwards of 152.000 sqm,
namely Iași, Timișoara, Cluj-Napoca, and Suceava. accommodating more than 80 company head offices
and 15.000-plus employees.
Experience also brought about the projects that have
changed perceptions about lifestyle, have redefined
and revitalized urban centers and became integrated
in their respective communities.
The project then had an organic development up to a

portfolio that currently comprises more than 300.000
sqm of retail premises in two mixed-use urban
regeneration projects (Palas Iași and Iulius Town
With projects like Iulius Palas in Iasi and Iulius Town in Timisoara, Iulius Goup radically transformed the center area
of the two cities. In 2020, a year affected by the pandemic, Iulius started Iulius Campus in Iasi, an investment in an
office project of more than 120 mil. EUR. Iulius Group started the procedure to develop a 3 billion euros project at
Romexpo, in a partnership with the Romanian Chamber of Commerce .
BREC TALKS:
ION TIRIAC BARBIERU,
SINZIANA
ONV LAW:
TURNING
PERFORMANCE
CHANGING THE INTO
GAME
BUSINESS
WITH NZEB
The construction sector registered an upward trend
in 2020 and certain legislative measures were also
Profile:
adopted in the last year, with a positive impact on
Owner, Tiriac Group
the construction sector, which will contribute to its
growth in the post-pandemic period, says Sinziana
Turnover
Barbieru, of real estate
Partner at ONVdivision:
LAW. The law firm, special-
€ 14.5 million
ized in Public Procurement, Utilities and Construc-
tions, comments on the post-pandemic real estate
market and
Ongoing the legal framework impacting the
investments:
sector.
Tiriac Tower, Stejarii Residential Club 2,
Timisoara Retail Hub
The local post-pandemic real estate & constructions and content of the authorization documentation depend-
market. Our clients have been developing various devel- Experience:
ing on complexity and impact of the project, the reduction
opment projects (residential, office buildings / hotels / of approval
Over issuing
30 years’ deadlines, the
experience onsimplification
the Romanianof the
shopping malls / hypermarkets, energy efficiency building number
market of approvals and agreements, as well as the
renovations), as well as urban infrastructure works. increase in the number of public administration specialists,
An element with an important impact on the construction who will be able to efficiently manage the administrative
sector is the significant increase last year of the prices procedures. Also, the elaboration of the updated General
One of the iconicraw
of construction figures of Romanian
materials, sports,
which will Ion
reflect in the Tiriac Imobiliare
Urban is also working
Plan of Bucharest on the
will bring moreconcept for a
clarity and
sale price
Tiriac owns ofaresidential buildings
large holding and which
with diverse has also
activities such predictability
large scheme, on in the former
real estate
IFMAsector.
industrial platform of
affected
as the companies
auto, real which air
estate, financial, perform
travelpublic works
or energy. 25.000 sqm. The first step was taken by the demolition
contracts.
The real estate arm of the group covers numerous of Relevance of nZEB
old structures Standardon the platform, includ-
and buildings
In terms ofof
segments legislation,
the market,starting with January
with retail 2021,
properties the tax
(auto ingAs adopted
the in the
114-meter local
high legislation,
IFMA test towerallfor
buildings for
elevators.
facilities in force in the construction field
showrooms & Praktiker Targu Mures), residential are not Located centrally, near Bucharest North Railway Station,out
which the acceptance at the end of works is carried
limited anymore to incomes based on individual labor on the basis of a building permit issued after 31
schemes (La Stejarii luxury compound with 535 rented the platform is to be transformed into a landmark,
contracts, but are also applicable to all salary incomes December 2020 must comply with the nZEB standard.
apartments
and assimilatedand Rezidenz, a 485 in
salary incomes apartments project,
construction, such as sustainable
The Nearlyproject.
Zero-Energy Building (nZEB) implies a very
sold out at the end of 2019) and office buildings
management contracts. Also, the approval of the "New high energy performance which should be covered to an
(Tiriac
House"Tower,
program,Tiriac Center,
where Vama limit
the upper Postei,
wasNouveau
increased extent of at least 30% from renewable sources, including
Center).
from 70.000 EUR to 140.000 EUR, with 5% VAT, boosted sources produced on-site or nearby. The technologies that
the demand for residential buildings. are used for complying with this standard result in higher
investment costs when compared to the previous energy
“In sports, winners are those who anticipate and
The future of business = Transformation performance requirements. These additional investment
act, calculating
For many theirthe
companies, every
key move.
element to last year was costs and also the increase in the price of construction
Likewise
resilience.in realthat
Given estate, you
in the buildcontext
current wheretheyou
entrepre- materials will be reflected in a substantial increase in the
estimate the market
neurs` mindset willtowards
is oriented be in the future. Whether
transformation, M&As sale price or rental price of the building erected according
we are talking
or business about offices
restructuring, we haveor residential
developed aareas,
new to the new nZEB standard.
retail spaces
advisory or real
segment, estate projects
in partnership related
with Arthur to Roma-
Hunt
nia, by which
education and supportitour
wesports, clients in the
is important toprocesses of
develop for Latest amendments in Construction Law
restructuring, improvement and transformation
tomorrow, bearing in mind the job well done of • Possibility to register at the Land Registry Office of
companies. In the short and medium term, we aim to
today.” buildings erected without building permit
develop a range of related practice areas, such as energy • Acceptance upon completion of works simultaneously
and environment. with the acceptance upon completion of the connections
to public utility networks
WhatTower
Tiriac should– change in theoffice
a new, posh construction
propertylawnear Victoriei • Interdiction to bring into use the residential buildings
The most
Square in relevant
BucharestandCBDsalutary
is thechanges
group’sinlatest
construction
real estate before the acceptance upon completion of works and the
legislation
project. Theare to bewas
tower achieved
designedby adopting theand
as a strong Territorial commissioning of the connections to public utility
Planning,
reliable Urbanism
building, and
with Construction
exceptional Code, which
attention is
to quality networks
currently being elaborated. The expected changes
and unrivalled focus in details, to create a new landmark include • Inclusion of the construction advisors in the category of
the differentiated treatment of the authorization process the involved factors that are responsible for the quality in
for the city. The result is a timelessly elegant, yet highly
constructions
functional premium office building. 25
Profile:
CEO & Partner, Speedwell
Speedwell’s portfolio value

€ 400 mil.
Experience: 25 years in the international

construction & real estate market
DIDIER BALCAEN
BUILDING A €400 MIL. PORTFOLIO
IN 7 YEARS
Specialized in project & financial management, Didier Balcaen has over 25 years’ worth of experience in the
international construction and real estate market, 15 of which he spent in Romania. He is a Belgian national,
who, after 5 years of contracting experience in Belgium, explored other parts of the world for the next 5 as an
expat project manager in U.A.E, Singapore, Saudi-Arabia, Indonesia, Qatar and Mauritius. After returning from
his travels, he took the role of Chief Operations Officer in real estate development in Poland, Russia and finally,
in Romania, where he founded Speedwell in 2014.
Currently, Didier Balcaen is the CEO and Partner of

Speedwell, a full-service real estate development
company with a focus on medium to large scale
residential, office, and retail projects in Romania.
In the recent years, he prides in assembling an

enthusiastic team of highly qualified professionals,
allowing Speedwell to develop a portfolio that
includes the mixed-use project RECORD PARK in
Cluj, TRIAMA Residence, THE IVY and MIRO in
Bucharest, PALTIM in Timisoara and RIVERSIDE City
in Ramnicu-Valcea.
“Speedwell is successfully completing the delivery

of the 236 apartments in RECORD PARK in
Cluj-Napoca and 66 more for TRIAMA Residence
Phase 1. MIRO, the A-class office building in
Baneasa, Bucharest, is estimated to be delivered
towards the end of this year. THE IVY Residential
Apart from this, the company is going to launch sales

Speedwell will soon launch a logistics product, SpacePlus.
for PALTIM, mixed-use project in Timisoara, and
The first SpacePlus SME-park is planned to be opened in
continue sales for THE IVY and TRIAMA Phase 2. March 2022.
Speedwell plans to acquire at least 2 new plots for
residential or mixed-use developments per year,
across Romania. Furthermore, the first plot was Contact:
bought in December 2020 for a new business line in
developing quality SME-units under the brand name +40.753.130.352 | offi[email protected]
SpacePlus© nationwide, offering 500 to 2.000 sqm
units for direct use.”
The developer has approximately 90 mil. EUR equity

invested in Romania, representing roughly 400 mil.
EUR in project value. An additional 90 mil. EUR of
equity is committed for future investments, with the
aim to double the portfolio in the next 4 years.
At the moment, the company has a large portfolio of
projects in Romania, in various stages of
development.
This includes the mixed-use project RECORD PARK,

with 236 apartments and approximately 15.000 sqm
of commercial spaces in Cluj-Napoca. In Bucharest,
the company is developing two residential projects,
THE IVY featuring 800 apartments and TRIAMA
RESIDENCE with 202 units, along with an A-class
office building, MIRO, offering 23.000 sqm of leasable
office spaces, 84% pre-leased to date. Another
mixed-use project, PALTIM, is in Timisoara and
combines 15.000 sqm of A-class offices with
approximately 300 residential units and two
refurbished historical buildings.
In Ramnicu-Valcea, Speedwell manages a land

development of 10 ha with allotments to be sold for
building a potential of up to 50 houses, 1.100
apartments and retail spaces. TRIAMA Residence 12
27
Profile:
Owner & Founder Element Group
Portfolio value of Element Group:

€ 200 mil. in logistics, retail & office
Experience:
Over 20 years on the Romanian real estate market
IONUT DUMITRESCU
WINNING INVESTMENTS IN A
DIVERSE PORTFOLIO
Ionut Dumitrescu is one of the most reputed Romanian investors, raising and developing numerous businesses,
up to successful exits.
Ionut launched in 1997 Eurisko - a consulting & brokerage company that reached an annual revenue of € 14
mil., further sold to CB Richard Ellis in 2008 for $ 35 million. He was the founder of Building Support Services, a
company that became the largest property & facility management firm in Romania. In 2006, the company was
also sold to a consortium of international investors.
He developed HQ Victoriei, a Class A business center built in Bucharest CBD, near Victoriei Sq. 100% leased,
the property was sold in 2012 to Zeus Capital. Ionut Market, Happy Cinema, JYSK, Lems, Top Shop, Sinsay,
was also a lead shareholder in Forte Partners, devel- Help Net and Contakt.
oped The Bridge, a 60.000 sq. m. office building in
Bucharest, successfully sold to Dedeman Group. As one of the co-founders of the office division of
One United Properties, Ionut leads the leasing team
for the One Office portfolio: One Tower, One Cotro-
“Looking at the evolution of Romanian economy in ceni Park, One Herastrau Office, One Victoriei Center
the first quarter of 2021, I believe that we are at & One North Gate.
the beginning of a new economic development
cycle. On the logistics sector, Element Industrial is develop-
ing Eli Parks, a series of logistics parks of 50-70.000
My ambition is to work on developing top quality sqm, in Bucharest, Craiova, Bacau, Braila or Ploiesti,
real estate products and attracting new investors as well as warehouses with smaller areas, under the
on the local real estate market.” brand Eli Xpress in cities such as Bucharest, Pitesti or
Constanta.
In Bucharest, the company is developing a logistic hub
in Buftea- Chitila, on DN7, near the new ring road of
Bucharest - A0. Here, Element Industrial delivered
More recently, Ionut Dumitrescu founded Element Eli Park 1 – 50.000 sqm (leased to companies such as
Group - a real estate development consortium Arctic, Paste Baneasa, Dentotal, Décor Floor, Euro Games
focused on retail, industrial & office sectors. The Technology or Mobilier 1) and is now building Eli Park 3.
holding is one of the shareholders of the office The new logistics park will be built in several phases, the
division of One United Properties. The holding also first consisting of a distribution center of 18.500 sqm.
developed Bistrita Retail Park (7.600 sqm retail
project) under Element Development brand and is Contact:
developing a series of logistics & industrial parks [email protected]
under Element Industrial brand Bistrita Retail Park hosts
a tenant mix such as Decathlon, Sportisimo, Carrefour
Eli Park 1, Buftea
29
Profile:
Co-Founder & CEO, THETA Furniture & More
THETA Furniture & More portfolio

+ 1.500 local and international companies
+ 300. 000 sqm interior spaces
890 office spaces, 505 commercial spaces,
115 HoReCa spaces
Experience:
+ 20 years of experience in entrepreneurship &
business development
BREC TALKS:
FLORIN GHEORGHE
MAKING A DIFFERENCE IN INTERIOR
DESIGN & FIT – OUT
Florin Gheorghe is Co-Founder and CEO THETA Furniture & More, with a proven executive management track
record and over 20 years of experience driving sales growth in different industries as: consumer goods,
flooring and since 2008 - in furniture & more. As the CEO of THETA, Florin Gheorghe is responsible for
running all facets of the business. His skills in finding the most appropriate ways to approach the company’s
targets are also based on his educational background: Florin holds a BS in Management & Marketing
Romanian - American University, Bucharest.
The most significant achievement in 2020 is the

sale transaction of 50% of the company to the
Black Sea Fund, with positive implications for the
long-term development of the company.
Looking way back, THETA is a dream-project

launched in 2008, with the goal of making a
difference in the interior design & fit-out industry.
“Having our own production factory has quickly
introduced us in various proportions projects,
both locally and internationally, in sectors as:
commercial, residential, office, medical, HoReCa,”
Florin Gheorghe says.
The portfolio of clients and projects has grown

exponentially and, at the same time, the capacity of
the factory (5.000 sqm in present) and the investment
in modern equipment and technologies. THETA`s
design and project management teams include
architects, interior designers, civil engineers, Photo Credit: Architect Sabin Prodan;
mechanical and electrical engineers, with extensive Architectural Design: HTO Architecture & Engineering
expertise in design & construction fit-out projects.
The company carries out tasks with utmost attention
to detail, ensuring that client's expectations are met Major clients:
at all times. •Delloite (total office spaces delivered 20.000
sqm); Architectural Design: HTO Architecture
& Engineering
Focus on Interior General •VEEAM (total office spaces delivered 12.000
Contracting sqm)
•Gazprom (total of 18 gas stations delivered)
In the last 6 years, the company redirected its focus
for the role of interior general contractor, Large-scale office fit-out locations:
managing complex projects for clients, from • THE MARK
design stage to implementation and delivery. “The • myhive
main benefit for a client to work with THETA is not
• AFI
only that we have the responsibility for the entire
process, but also the project expenses / time can • THE LANDMARK
be reduced by 15-20%,” Florin Gheorghe says. • Business Garden Bucharest
Projects locations:
“As we gradually move towards the new • Romania
„normal”, along with positivity and • International (Belgium, France, Holland,
resiliency, we understand that the safety Hungary, Switzerland)
& wellbeing of your employees and
clients are top priority, thus we will
continue investing in expanding our
production facility in order to help our
clients create or convert their offices,
other spaces, into a droplet-safe
environment.
Our plans are to develop the company
vertically and horizontally - more
precisely, we will continue growing the
current business and we will also acquire
other companies from sectors related to
ours.“
31
GEO MARGESCU
CEO & Co-Founder, Forte Partners
Geo Margescu started his career in real estate in development and project management over 15 years ago. He is
the CEO of Romanian real estate developer Forte Partners, which has several office and residential projects under
development.
With more than 60.000 sqm of office, retail and parking space, Sector 0 currently under development by Forte
Partners is one of the largest developments in downtown Bucharest in the last 30 years. Sector 0 consists in the
development of two office buildings (Millo & Tandem), destined for the daily work of creative communities. Sector
0 will define an area of buildings which are designed to perfectly integrate into the Art Deco architectural style of
the neighborhood.
Forte Partners, founded in 2014, has so far developed a portfolio of projects worth over € 200 million, both in the
office and residential sectors and they are developing projects worth another EUR 200 million. The company
portfolio of developments comprises Stefan cel Mare Building, The Bridge 1 Londra 27 and Aviatiei Park residen-
tial project, as well as U-Center office project, currently under development.
MARTIN SLABBERT
Partner, Prime Kapital & CEO, MAS Real Estate
With more than 22 years of experience in real estate, turn-around and finance industry, Martin Slabbert founded
New Europe Property Investments Plc (NEPI) and Prime Kapital.
At present, Martin Slabbert also holds the position of Chief Executive Officer & Director at MAS Real Estate invest-
ment fund from South Africa, an investment partner of Prime Kapital.
Prime Kapital holds more than 40 successful commercial developments and re-developments delivered over the
last 10 years.
YITZHAK HAGAG
Co-founder and shareholder of Hagag
Development Europe
Yitzhak Hagag is the Co-founder and shareholder of Hagag Development Europe, a dynamic real estate inves-
tor-developer involved in the acquisition, development, management and reconversion of old historical buildings.
The current market value of the company’s portfolio, as completed, exceeds € 200 million.
The developer delivered, last year, its first office project, H Victoriei 109, and extended its local portfolio by adding
a € 10 million property located near University Square – the future H Tudor Arghezi 21, as well as a unique archi-
tectural gem – the future H Știrbei Palace - a priceless neoclassic historical monument located on 107 Calea Victo-
riei, which will be refurbished and destined to serve the commercial segment. Moreover, despite the pandemic,
the company successfully continues works on all its ongoing projects H Pipera Lake, H Victoriei 139, and H Eliade 9
Residence. Hagag Development Europe has very bold plans for this year, as well as for the years to come, and
intends to allocate annually an impressive investments budget with the purpose of vastly expanding is local
portfolio and operations on the Romanian market.
FLORIN FURDUI
Country Manager, Portland Trust
Established in 1997, Portland Trust is a commercial real estate developer and asset manager with offices in Prague
and Bucharest. Portland Trust has had a long-term joint venture with ARES Management Corporation (formerly
AREA Property Partners) who is a US-based fund manager with assets under management of approximately $165
billion. The company has focused on the construction of new commercial property mainly in the office, retail and
light industrial sectors, always in strong locations or where new infrastructure is being developed.
The developer has a 46.000 sqm net office development under construction in the area of Bucureștii Noi, one
subway station North of the Expoziției development area / 1 Mai. In Bucharest it is known for projects such as Expo
Business Park, Oregon Park, Floreasca Park or Floreasca 169.
Portland Trust also announced intentions to invest € 450 million in solar parks. The first project of 131 MW, located
in Arges and estimated at around € 120 million, has an approval from Transelectrica and is in progress. At the time
of commissioning, in 2022, the project in Pitesti will be one of the largest solar parks in Romania, according to
company’s officials.
SORIN DUMITRASCU
Country Director, Atenor Romania
An experienced construction manager, Sorin Dumitrascu is the leader of the Romanian subsidiary of Atenor, a
Belgian real estate investor. Atenor Romania has ongoing investments of € 180 million on the local market in the 3
projects currently under construction - the offices of Dacia One and @Expo in the Expozitiei area and the Up Site
residential project in Bucharest Floreasca area.
Atenor has recently announced the signing of the agreement for the sale of the Hermes Business Campus office
project in the north of Bucharest. The buyer is Adventum Group, an investment fund registered in Malta and run by
several Hungarian real estate professionals. The sale transaction is valued at about € 150 million and is one of the
largest transactions in recent years for a single office project.
Company’s officials announced plans to invest in new projects following the sale of Hermes Business Campus,
analysing the acquisition of several land plots.
PANICO PANAYI
Owner, Colosseum Mall
Panico Panayi, a British citizen of Cypriot descent began his investments in Romania in 2003 when he bought 600.000
sqm of land during a period of one and a half years in the North-Western part of Bucharest, from 57 different owners.
Until then, his main business was in the leisure industry and he owned restaurants, pubs and bingo halls in Manchester,
UK. Also, he has an investment in a winery in Cyprus.
His plan was to build the largest shopping center in Bucharest and even in Europe, with a total investment of € 350
million.
After 10 years since its opening in Bucharest Colosseum Mall will have a new expansion of 16.500 sqm GLA and the
owners announced a residential project that will include 600 apartments. The investment in the new wing is estimated
at around € 40 million and the investment in the new residential project is € 30 million.
12
33
Profile: Executive Vice President Operations

Hungary & Romania for Skanska’s commercial
development business unit
Portfolio value of Skanska in Romania: N/A
Experience: More than 20 years in real estate
development
AURELIA LUCA
LEADING TOWARDS A SUSTAINABLE
FUTURE
Aurelia Luca became part of the Skanska team in 2012, as a Leasing Manager, after previously working
as Commercial Manager for Global Finance. In January 2018, Aurelia has been appointed as Managing
Director of Skanska Property Romania and from this position, she continued Skanska’s mission of developing
sustainable office buildings. Since January 2020, she is part of the newly appointed Senior Leadership
Team in Skanska Commercial Development business in Central and Eastern Europe. Named Executive Vice
President Operations Romania, Aurelia Luca has an important role in the process of centralizing the
organization on regional level and strengthening its strategic focus on customers.
In February 2021, Aurelia took over the Hungarian When it comes to the plans for 2021, first of all, let's all
operations, becoming EVP Operations Hungary & be safe, Aurelia Luca says. “Let's look back at
Romania and is responsible for Skanska’s commercial everything that happened last year and think what are
development business unit in both counties. the lessons we have learned, the conclusions we have
reached and what we want to change going forward.
With 3 ongoing projects in 2019 and more than This year we are committed to continue being
21.000 sqm rented in Equilibrium 1, Campus 6.2 and recognized as a high-quality office space developer
6.3 office buildings, Skanska Romania continued its with top safety standards that reduces the risk of
development and reconfirmed the increasing trend disease transmission and facilitate creating healthy and
registered for that period. The 3 buildings have safe workplaces in the post-COVID reality,” the
achieved the highest levels of certification and executive ads.
pre-certification such as LEED and WELL, to ensure
their residents have access to a sustainable and
healthy working environment. “With the projects we develop we focus on
innovation, experience offered to future occupants
Having plans for the future and aiming to ensure its of the buildings, but also on sustainability. We
presence simultaneously in two submarkets, at the believe in a sustainable development of the city, in
end of 2019, Skanska has bought a plot of land in the role we play in the growing of communities.
Bucurestii Noi area, through a 24 million EUR In the next period, we will continue our activity on
transaction, to develop a new office complex. our sites. We have delivered Campus 6.2 project in
Q1 of 2021. We have started the second phase of
Even in pandemic conditions, Skanska sold Campus Equilibrium project and we will also continue.”
6.2 and Campus 6.3 office buildings, located in
Bucharest, to S IMMO AG for EUR 97 million, being
one of the largest transactions of Skanska on the
Romanian market so far.
12
35
Profile:
Managing Director, Vastint Romania
Experience:
More than 12 years, mainly in real estate
ANTONIU PANAIT
ALWAYS READY, WITH HIGH AMBITIONS
Managing Director for Vastint Romania since 2009, Antoniu Panait has an executive experience of more than
12 years, mainly in real estate. With a strong foundation built on legal studies, embracing diverse operational
responsibilities including administrating complex portfolios and evaluating investment opportunities, when he
was only 31 years old he took the challenge to build and grow the VASTINT team and projects in Romania.
Antoniu Panait is in charge of Vastint Romania’s major projects in Bucharest. Timpuri Noi Square is located in
Bucharest District 3, with up to 100.000 sqm gross build area of class A office and retail, as well as 50.000 sqm
residential space planned and Business Garden Bucharest, located in District 6, will bring up to 43.000 sqm of
class A office and retail space to the market.
VASTINT has also acquired a 48 ha site in Sisesti area,

in close proximity to the Straulesti terminal, with a
subway station and park-and-ride facilities, with a
view to develop a mixed - use, primarily residential
development.
Timpuri Noi Square and Business Garden Bucharest

are active and subject to the rental process. At
Timpuri Noi Square, the developer is preparing for
the start of Phase 2 of the project, adding up to
43.000 sqm of class A office and retail space to the
market. Business Garden Bucharest project is finalized
with all 3 buildings delivered since 2019 and hosting
tenants like Banca Comerciala Romana, Veeam,
Sparkware and other corporate tenants.
“Vastint Romania is preparing for the start of Phase 2

of Timpuri Noi Square, that will bring another
100.000 sqm gross build area of office and retail
spaces in the next few years. Ready to develop other
projects if the market requests it.”
Contact:
[email protected]
37
Profile:
Country Manager, S IMMO Romania
Portfolio value of S IMMO AG group:

€ 2.4 bn
Experience:
More than 17 years on the real estate market
DANIELA BADULESCU
AN EXPERIENCED FINANCIER
IN REAL ESTATE
Daniela Badulescu has been one of the administrators of the Romanian entities of the international real estate
player S IMMO AG and Country Manager S IMMO ROMANIA since 2011. She started working in the real estate
sector for a Swiss investment fund in 2004 and joined Immorent Romania (Erste Bank real estate investment
division) as a real estate manager in 2007 – responsible for Romanian S IMMO AG`s projects.
Daniela Badulescu holds a Master of Science in Economics of Real Estate Investments from the Bucharest
Academy of Economic Studies and she is a graduate of the Finance and Banking Faculty at the same institution.
In recent years, she has managed the development has succeeded in establishing itself as one of the
THE MARK office building in Bucharest, with an largest and most important shopping centers of
occupancy of almost 100% at its completion in 2019. Bucharest, Sun Offices with a 10.000 sqm office area
She was part of the S IMMO team from the beginning and THE MARK office buildings.
– and was involved in both the pre-development and
development process, as well as in rental and Contact:
administrative activities. +40.21.780.71.67 | offi[email protected]
As one of the administrators of the Romanian entities

for Romanian SPV companies, she states that despite
the difficult environment, the Management Board
and the team have so far been able to handle the
challenges of the pandemic well.
A diversified portfolio and active asset management

helped to greatly limit the negative effects of the
crisis on S IMMO`s revenue. S IMMO AG has been
pursuing a sustainable and prudent business policy
for more than 3 decades, with the aim of adding
value for its investors and protecting the company’s
income in a sustainable fashion.
In Q4 2020, S IMMO acquired 2 properties of the

Campus 6 business park in Bucharest from Skanska, a
total investment of €97 million.
“The 4th quarter of 2020 was used to add 3

high-quality office properties to the CEE portfolio:
the purchase of Zagreb Tower in Croatia was
successfully completed and the contracts for the
acquisition of 2 modern and sustainable office
buildings at Campus 6 in Bucharest were signed.
The transfer of the properties to S IMMO`s
portfolio is scheduled for the second quarter of
2021. In Budapest, the company is currently
working on an office development. In Bucharest,
we are working on the new Dorobanti office
buildings. ”
As of 31 December 2020, S IMMO AG’s property

portfolio consists of 360 properties with a book value
of EUR 2,482.8 m. The occupancy rate is 93.5% and
the portfolio’s overall rental yield is 5.1%.70% of the
property portfolio consists of commercial properties
(offices, shopping centres and hotels). About 68% of
the buildings are situated in Austria and Germany,
while the other 32% are in CEE. Romania has
approximately 40% (total sqm area) of the CEE
portfolio.
S IMMO AG entered the Romanian market in 2006

and has been an active investor in Bucharest ever
since. The diversified property portfolio in Romania
includes the 4-star Novotel Hotel, located in the heart
of Bucharest, the Sun Plaza Shopping Center which
39
MIHAI
CORA PADUROIU
CRISTESCU
NEXT – GEN
A MOVER IN
& SHAKER
OFFICE LEADERSHIP
IN FACILITY
MANAGEMENT
Profile:
CEO, Atalian Romania
Profile:
CEO - Office
Portfolio sizeDivision, One
of Atalian United Properties
Romania:
1.8 M sqm
Consolidated turnover of One United
Properties
Experience:(2020): € 110 mil.
More than 20 years' experience in
Experience
management, business development &
14 years of experience on the Romanian
operations
office market
In 2010, Cora Cristescu joined MT&T Property

Mihai Paduroiuone
Management, hasofa the
longtop
career in the local
FM company in real
Romania, KeyUnited
One achievements:
Properties` entire portfolio of offices is
estate
as market, in
responsible of some of the a
developing largest internationalteam.
solid operational • 100%
being digital.
WELL Since
Health and2018,
Safetythe company
certified, digitized
which is the
consulting
In less thancompanies. Duringherself
1 year, she found this period, hethe
leading was all operations,
most by developing
rigorous certification an own
focused CAFM (Com-
on employee and
involved in numerous
Operational Department relocation processescomprising
of the company, for both puter-Aided
on-the-job Facility Management) software, an
benefits.
multinational
more than 100and local companies, trading over
people. unique integrated platform awarded by various FM
500.000 sqm of offices. association
According to in Romania.
CBRE data, One United Properties was the
After Atalian acquired MT&T in 2016, together with most active developer on the relocation market in 2020.
In his
her role managing
team at One United Properties,
Atalian Romania, Mihai
shecoordinates
completely • Strong
One of thebrand.
largestAtalian succeeded
pre-leases to create
signed was a
the 8.206 sqm
the rental Atalian’s
changed of all office projects:
image Onelocal
in both Tower,
andOneregional powerful brand
agreement in Romania,
with Superbet a long
in One processPark.
Cotroceni of In
Cotroceni
FM markets Park,
andOne Herastrau
reached Office,
a total 1.8 MOne
sqm North Gate
portfolio, switching
2021, from MT&T
One United to Atalian.
delivered One Tower, which hosts the
and
as OneasVictoriei
well Center,to
she managed asexpand
well as strengthening
business the HQ of companies such as CBRE, Element Group or
relationship with tenants, in order to maximize the
regionally. • Portfolio
McCann growth up
WorldGroup to 1.8 M sqm., which gave
Romania.
satisfaction of all occupiers from One United Proper- the company a boost of 20% increase in revenues.
ties’ developments.
Before 2010, she worked almost 10 years in the FMCG
sector for one of the biggest distribution company in • Regional expanding. Atalian entered in new
Mihai holds
Romania a degree inhaving
- Interbrands, International
differentEconomic
responsibilities regional markets, as Cluj-Napoca and Brasov.
Relations
in human from the Academy
resources of Economic
and operational Studies and
departments. “In
is a member Iof
Interbrands, the lived
have 2016 myRICS (Royal Institution
adolescence of
in business, • New business lines. Alongside the Facility Man-
Chartered
and in MT&T Surveyors).
– Atalian, my maturity. I enjoy every step on agement, which is the company’s engine, Atalian
this road and I have a great team with whom I love to successfully developed other businesses: Property
keep walking on,” says Cora Cristescu. Management, Project Management and Corporate
Services.
“The pandemic has emphasized the need for new,
certified
“Our short
officeand
spaces
medium-term
with focusmission
on employee
is not to
wellbeing,
be the biggest,
integrated
but towith
be retail
unique.and
Inresidential
addition,
functions
we alsoand
haveaccess
a dutytotovarious
put ourfacilities
shoulder such
in the
as
healthy
development
food, green
of the
spaces,
Romanian
or medical
societyservices.
and
economy, through education, innovation and Contact:
CSR.” +40 212 315 200 | [email protected]
Profile:
Managing Director Romania, CA Immo
Portfolio size of CA Immo Romania:

€ 390. 6 M.
Experience:
24 years in development and property
& facility management
MARIAN ROMAN
A SEASONED FORERUNNER
With a proven track record of 24 years of experience “2020 will be remembered as a year of busi-
on the Romanian real estate industry, Marian Roman is ness and life disruptions. As an office landlord
one of the most respected real estate professionals on for top tenants from all major industries, we
the market. He has been Managing Director Romania focus on ensuring a safe work environment for
at CA Immo since 2011 and oversees all business those 15,000 people who are generally work-
activities, including asset management, leasing and ing in an office building of CA Immo’s portfolio.
tenant relations.
Our plans for 2021 include to further improve
Marian is a graduate of the University of Economic the general features of our buildings, i.e.
Studies, Faculty of International Business and comprising the re-design resp. refurbishment of
Economics Bucharest. He has worked extensively in the
common areas, to maintain or upgrade techni-
property sector and was Managing Partner for Building
Support Services (BSS), promoter of property & facility cal equipment such as the Building Manage-
management, which currently manages over 3.5 ment Systems to ensure continued reliability
million sqm of office, retail and logistics spaces. Next, and to preserve the high-level quality of the
he was appointed as Managing Director for Europolis building’s technology, as well as reducing the
in Romania, which has been taken over by CA Immo in energy consumption.”
2011.
With a portfolio of 7 office buildings and 165.000

sqm GLA, CA Immo is one of the largest office CA Immo is an investor, manager, and developer special-
landlords in Romania. In recent years, successful ised in modern office properties across the gateway cities
additions to CA Immo’s portfolio include the office in Germany, Austria, and Central Europe. The company
development Orhideea Towers, with an investment of covers the entire value chain in the field of commercial
approx. € 75 mil. and the acquisition of Campus 6.1 for real estate including a high degree of in-house construc-
€ 53 mil., both located in Bucharest’ Center-West tion expertise. Founded in 1987, CA Immo is listed on the
submarket. ATX index of the Vienna Stock Exchange and holds
property assets worth around € 5.6 bn in Germany,
CA Immo’ portfolio has a vacancy of less than 8%, due Austria, and CEE.
to an aggregated and constant renewal process,
considering that also many of the tenants have extend-
ed their leases, some of them reaching a contractual Contact:
period of 15 or even 20 years, which reflects a high +40 (21) 300 17 10 | [email protected]
satisfaction level, validated in time.
41
ANCA SIMIONESCU
EYES ON
EXPANSION
Profile:
Country Manager, Romania, Lion’s Head
Group portfolio value:

€ 350 million
Experience:
15 years in commercial and residential real
estate
Anca Simionescu is a senior real estate professional, group that offers a broad spectrum of financial solutions
with a wide expertise in commercial and residential to retail and corporate customers across key market
real estate investment, asset management and segments in 14 countries, with listings on five stock
business development. She was previously part of the exchanges.
managerial teams of companies such as Asmita
Group, Skanska Romania, or Sterncor UK. As of In Romania, the fund acquired Oregon Park from
September 2020 she was appointed Lion’s Head’s Portland Trust, a transaction valued at over € 170 mil.,
Country Manager for Romania, responsible for the the second largest in the history of the local market.
implementation of the Group’s strategy in the country. Oregon Park is a premium A graded office complex
comprising three 7-storey buildings that provide over
70.000 sqm of contemporary office space surrounded
“The priorities have remained the same: ensuring by an attractively landscaped plot of nearly 4 ha. Locat-
a safe working environment for our tenants and ed in Floreasca-Barbu Vacarescu Business District, the
permanent dialogue with them, to adapt to the area is one of the most prestigious business hubs in
new context. Bucharest, attracting many global companies.
For 2021, we are tapping new acquisitions on the
Romanian market, also taking into consideration
new segments.”
Lion’s Head is the owner and manager of income

producing commercial properties in Central and
Eastern Europe. The company is backed by AG
Capital and Old Mutual Property. AG Capital is one of
the most influential groups in real estate investment,
development and asset management in Bulgaria. Old
Mutual Property is part of Old Mutual, established in
1845 as South Africa’s first life insurance company.
Today, Old Mutual has grown into a financial services
ION RADULEA
THE MAN WHO
SEES THE FUTURE
Profile:
Founder & CEO, River Development
Portfolio value of River Develpment:

€ 138.3 mil.
Experience:
More than 25 years of entrepreneurship
Ion Radulea is the Founder and CEO of River

Development, a real estate developer focused on “Our key focus in the next period will be
mixed-use projects in Bucharest. Since establishing expanding the current development of Sema
River Development 15 years ago, he has built a strong Parc with the residential component and
portfolio of 2 major projects in Center-Western ensuring the best mix of tenants for the new
Bucharest – Sema Parc which is set to have 1 million sqm Class A office buildings - London and Oslo -
of developed space and The Light - with around which will be completed at the end of 2021.”
150.000 sqm of built area.
River Development has over 150.000 sqm of office

space in its portfolio and has delivered over 38.000 sqm
in the last two years to the new class A buildings within
the Sema Parc project. The London and Oslo buildings
with delivery in Q4 2021 will add another 31.500 sqm
(leasable area) of class A offices to the Sema Parc
project. All newly developed or under construction
projects comply with BREEAM standards for green
buildings and have the objective of "Outstanding" in
use. In its second project in the portfolio - The Light,
River Development has delivered the first phase - The
Light One, a Class A office building with a leasable area
of 21.653 sqm. Recently, The Light One office building
(with over 90% occupancy) has been sold to Austrian
investor UNIQA Group. The Light project will be
focused on offices but will also include a residential
component.
The company reported a 21.7 mil. EUR turnover last year and
it holds current investments worth more than 105 mil. EUR.
The Light
Contact:
+40.0733.325.837 | [email protected] 43
IONUT BORDEI
AN EYE FOR
OPPORTUNITY
Profile:
CEO, Element Group
Value of investments coordinated:

€ 100 mil.
Experience:
20 yeas on the Romanian real estate market
Ionut Bordei was appointed as CEO of Element Some of his key achievements within the group include
Group, one of the most dynamic Romanian investment the development of Bistrita Retail Park (a shopping
funds, in February 2017. He leads the development gallery of 7.600 sqm with tenants such as Carrefour
activity, supervising the land acquisitions process for Market, Decathlon, Sportisimo, JYSK, Lems, Happy
all division of the group. Cinema, Top Shop, Sinsay, Help Net and Contakt), the
takeover of BCC office building from Immofinanz, which
His career in real estate began in 2000 in local was rebranded as One Victoriei Center and the
brokerage agency Eurisko, where he evolved from a acquisition of the former Kandia factory in Timisoara.
broker to Residential Department Manager and
further on, Partner. Before joining the Element Group Ionut is also in charge of the acquisitions for the logistic
team, he worked for companies such as Cordia development of the group (Element Industrial), some of
Futureal or DTZ Echinox. the most important being a 2,7-hectare land in Pitesti, a
3-hectare land in Targoviste or the warehouses of Bere
Ionut has an Executive MBA degree from Vienna Bauturi form Constanta rebranded as Eli Xpress
University of Economics and Business. Constanta.
Contact:
“One of the Group’s latest acquisitions is a [email protected]
2.7-hectare land at the entrance to Pitești, in the
immediate vicinity of the A1 highway.
The positioning in the immediate vicinity of the A1

highway, as well as near an existing retail hub -
Jupiter City, Metro and Arabesque Pitești -
determined us to add this land to the group's
portfolio, for a future proximity logistic
development.”
ZIV GIGI
A STRATEGIC
MANAGER
Profile:
Managing Director for Romania, GTC
Portfolio value of GTC Romana:

N/A
Experience:
More than 15 years in CEE real estate markets
As of April 2021, Ziv Gigi is the Managing Director for The GTC Group is a leading real estate investor and
Romania of GTC, responsible for all operations of GTC developer focusing on Poland and capital cities in
in the Romanian market. Central and Eastern Europe. Since 1994, GTC has
developed 76 high standard, modern office and retail
Ziv Gigi has more than 15 years of experience in properties with a total area of over 1.3 million sqm
Central and Eastern European real estate markets, through Central and Eastern Europe.
developing and operating dozens of projects in office
and Retail space. His expertise covers the spectrum of GTC now actively manages a commercial real estate
a real estate development, sales and acquisitions, to portfolio of 48 commercial buildings providing over 750
include ideation, identification, realization, and ths. sqm of lettable office and retail space in Poland,
ongoing operations. His previous tenure as the CFO Budapest, Bucharest, Belgrade, Zagreb and Sofia. In
of GTC’s operations in Bulgaria, Romania and Serbia addition, GTC has a development pipeline of 325 ths.
provided him with all the financial acumen needed to sqm retail and office properties in capital cities of
successfully execute and support the company's Central and Eastern Europe, 37 ths. sqm under
strategic direction. construction.
Ziv Gigi is a certified public accountant (CPA) with Contact:

over a decade of financial management experience offi[email protected]
specializing in capital raising and strategic planning. In
the past, Ziv worked as an auditor for Ernst & Young
Israel and as a financial manager for a private
developers in Hungary and Turkey.
Under Ziv Gigi`s management, GTC extended the

9.000 sqm lease deal with KMG Rompetrol – the
management and support services division of the
KMG International Group – one of the key players
in the fuel sector in Southeast Europe at City Gate
for 5 years.
45
Profile:
CEO, Akcent Development Group
Akcent Development Group T/O (2020):

€48 M
Current investments:
Over € 65 M (Navigatiei Residential Project)
Experience:
More than 12 years, in retail and legal sectors
LAURENTIU AFRASINE
ACCELERATING GROWTH
Laurentiu Afrasine is the CEO of Akcent Development since February 2020, with a career in real estate which
started within the retail industry and with over 10 years of experience in the legal sector. Laurentiu oversees all
aspects of the company’s operations and team members, along with the financial and legal management.
Laurentiu has successfully engaged in the financial management of the Akcent Development group, while
reimbursing the funding; he also accelerated the process of completing the Cloud 9 residential project and has
established an experienced sales team, guiding the clients in the process of finding premium apartments and
penthouses according to their particular needs and requirements.
The Akcent Development Group is one of the largest

residential developers in Bucharest, with 20 years of
experience in the Bucharest real estate market and
approximately 7.500 apartments in its portfolio,
including the 820 premium residential units of the
Cloud 9 project. The group’s portfolio also includes 4
office projects: Eminescu Offices, Mendeleev Office
5, Maria Rosetti Tower and Oscar One. The total
value of the most recent office buildings in the
developer`s portfolio (Eminescu Offices and Mende-
leev Office 5) is over 30 M EUR.
Along 2020, the strategy of Akcent Development

focused on adapting the business and the best use of
resources according to the context generated by the
pandemic, using all the knowledge for the future
development of two new residential projects in
Bucharest.
Up to the present, Mendeleev Office 5 office building

has reached an occupancy rate of 70% and Cloud 9
residential project has sold 67% of its apartments
(550 units out of a total of 820). So far, all the 2-room
apartments have been sold, as the developer aims to
have sold 90% of the total number of units by the end
of 2021.
“In this new context, buyers are more and more

interested in the duplex units with private gardens
on the ground floor, which provide ideal green
spaces for work and relaxation, but also by the
clever partitioning of apartments, the bright spaces
offered by the large glazed surfaces and the
privileged position for those who work in the
Northern part of Bucharest.”
12
47
DRAGOS &
ADRIAN PAVAL
KEEP ON GROWING
Profile:
Founders of Dedeman/ Paval Holding
Real Estate investments:

+ € 300 M
Experience:
Almost 30 years of entrepreneurship
Brothers Dragos and Adrian Paval are the founders of Real Estate
Romanian retailer Dedeman, the DIY market leader and
the biggest company owned by private Romanian Paval brothers own two office projects in Bucharest (The
investors. Established in 1992, Dedeman accounts for Bridge office complex, bought from Forte Partners for
more than half of the local DIY market. It holds a EUR 200 mil.) and Cluj-Napoca (The Office building
network of 5 logistics centres across Romania that bought from NEPI Rockcastle and Ovidiu Sandor,
support 55 large scale stores, which makes it one of the transaction valued at +100 mil. EUR) and are investors in
largest networks of this kind in the region. Dedeman is Element Industrial, a dynamic Romanian developer of
nearing the €2 billion turnover milestone, making it one industrial and logistics projects.
of the biggest local entrepreneurial companies.
They are also investing in a mixed-use project in Bacau,
the city which hosts Dedeman’s HQ, and are also
Paval Holding, which has a social capital of EUR 1 billion developing a new HQ for Paval Holding in Bucharest. In
and represents the largest direct ownership by Romani- Ilfov county, near Bucharest, the brothers own 64
an entrepreneurs (60% by Dragos Paval and 40% by his hectares of land suitable for industrial development.
brother, Adrian) is the financial investment vehicle of
brothers Paval and it reported a net profit of EUR 690
mil. in 2020, according to Confidas.ro data.
In recent years, Paval brothers have diversified their

investments into real estate, manufacturing and energy
and stakes in Romanian blue-chip companies, such as
Transelectrica, Conpet, Alro Slatina, Electrica or Antibio-
tice Iasi. The brothers also recently launched a Equiliant
Capital, a private equity fund financing small and
medium-sized companies.
CRISTIAN NASTASE
A FRESH VISION
IN STRUCTURAL
DESIGN
Profile:
Founding Partner, Concept Structure
Buildings portfolio by Concept Structure:

1 mil. sqm
A graduate of the Technical Construction University in years the Concept Structure team managed to build a
Bucharest, Cristian Nastase is founding partner of portfolio of over 1.200 engineering works: civil,
Concept Structure, a disruptive company on the industrial, agricultural and expertise in modernization,
structural design market, with 1 mil. sqm of landmark rehabilitation and safety of cultural heritage buildings.
buildings designed across Romania. In addition to the most important structural engineer-
ing projects for residential, office or "mixed-use"
In a short time span on the market, the company buildings, Concept Structure partners with important
signed structural design for a considerable number of architectural offices in Romania, high – profile real
real estate investments in Bucharest and other large estate developers and major execution companies on
cities such as Brasov, Constanta, Tulcea or Timisoara. the market. The company employs around 40 engi-
Its portfolio includes projects such as AFI City, AFI neers.
Brasov, Colosseum Mall, Crown Towers, NEO Mamaia,
NEO Timpuri Noi, Matei Millo and Tandem Offices or
MIRO Offices, Stejarii Rezidential (Tiriac Imobiliare), U "We aimed to change the way Structural Design is
Center Offices (phases 2 and 3), City Point Aviatiei or done in Romania and we pretty much did so."
Granvia Marina.
Concept Structure has been operating on the Roma-

nian market for more than 12 years. During these
MIRO Offices
49
51
BEATRICE
DUMITRASCU
MANAGING THE
LARGEST PREMIUM
RESIDENTIAL PORTFOLIO
IN ROMANIA
Profile:
CEO - Residential Division, One United
Properties
Consolidated turnover of One United

Properties (2020): € 110 mil.
Experience:
20 years in sales and marketing
Beatrice Dumitrascu is a key professional within One

United Properties, acting as CEO of the Residential “One United Properties is a leading brand of
Division. She has a 20-year career in sales and green developments and we intend to
marketing and dedicated the last 17 years to the real continue to invest our team effort in
estate industry, having the opportunity to collaborate promoting a sustainable way of constructing,
with most of the important market players. in creating real living and working concepts,
in redefining the art of living in the city.
She joined One United Properties in 2013 and she is
responsible for managing the biggest sales premium We are a leading player on the Bucharest
residential portfolio of One United Properties. Beatrice market and our focus will continue to be on
graduated from the Faculty of Journalism, but creating upgraded urban living spaces that
immediately felt that real estate was the thing for her. meet nowadays challenges.”
She worked for important companies in the field, and
she trained her professional skills over the years in
projects involving sales, marketing, communication,
project management, events, and real estate sales.
Beatrice Dumitrascu has been responsible in the past

years of managing the residential portfolio of the
company, with a focus on creating a strong sales and
communication team for the brand. One United
Properties is well-known for its high-end green
residential projects that attract customers and investors
as well.
Contact:
SHEILA (GIAFER)
IONESCU
Profile:
CEO, The One
2021 investments:
€ 4 mil.
Experience:
15 years on the real estate market
Sheila (Giafer) Ionescu is CEO of The One, the first “Starting few years back, two vastly different
Office Hospitality center on the Romanian market and worlds, the one of hospitality and the corporate
is known as one of the most efficient and business real estate have both witnessed an incredible
driven managers on the Romanian real estate market. transformation. Two different worlds, driven by the
change in demographics, new technologies and
With a 3.500 sqm area, The One is located at the top the permanent need for flexibility, met.
floors (16 & 16S) and at the 6th floor of One Tower –
the newest office building in Floreasca area, offering The traditional approach of the asset management,
its members a creative and relaxed approach toward a office leasing and the real estate related services
working day: lounge, sky bar, fully functional confer- has shifted to accommodate the new waves of
ence rooms, concierge services, business and private mobility needs.”
events spaces, offices & working areas, meeting
rooms with numerous functionalities, golf room &
classes.
The One proposes a series of multifunctional spaces,
This first center will be opened in One Tower, the which can host conferences and events up to 300
building which is part of One Floreasca City develop- participants, meetings and trainings between 30-100
ment, Romania’s first mixed sustainable development. persons, high-end office areas available for lease on
The office tower holds the best performing LEED short and medium term, offering its members access
pre-certification on the Romanian market, LEED v4 to diverse premium facilities such as concierge, sky
Core & Shell at Platinum level and is ready to be WELL bar or golf room.
HEALTH AND SAFETY certified, being one of the first
healthy buildings in Romania. Built in Floreasca area, The One will be inaugurated following a € 4 million
One Tower offers tenants the highest standards in investment, which belongs to a consortium of private
terms of office spaces, with a focus on increased investors, managed by Sheila (Giafer) Ionescu, a
comfort at work, but also direct access to Floreasca highly skilled professional with 15 years expertise on
Park, as well as a variety of restaurants, cafes, concept real estate market, whose name is related to compa-
stores. nies such as Ernst & Young, Knight Frank and Green
Gate Development.
53
Profile:
President, Gran Via
Gran Via group turnover in Romania (2020):

€ 44,2 mil.
Experience:
Over 20 years in real estate
ANTOANELA COMSA
LEADERSHIP THROUGH CONSISTENCY
Antoanela Comsa is one of the most acknowledged and appreciated managers on the Romanian real estate
market.
A graduate of the Construction University in Bucharest, Antoanela runs the activity of Spanish residential
developer Gran Via in Romania and she is also the president of AREI (Association of Real Estate Investors from
Romania).
Highly skilled in construction and legal matters, she has supervised all the investments of Gran Via from Roma-
nia, in projects such as Timisoara 58, Gran Via Park or Aviatiei Apartments, as well as Gran Via Marina, the
project from Constanta where Gran Via is now finalizing the first phase.
The second development was Gran Via Park, near the

2020 was the best year in the 15-years history of Gran Plaza Mall, on the site of the former Electrotehnica
Via on Romanian market: the developer sold 478 factory, which today has become the company's
residential units, with a total value of 44.2 million largest project in Romania, with 1.000 apartments
EUR, in projects such as Timișoara 58 (phase IV and completed and another 220 under construction.
the last in the development), Aviației Apartments
(phase I), Gran Via Park (phase IV and the last in the Gran Via Park’s young community benefits from
development) and Gran Via Marina in Constanța facilities such as the Lidl supermarket and the park in
(phase I). the complex, the vicinity of the Plaza Romania mall
but also good connection with public transportation:
Besides managing the day-to-day activities of Gran the tram station in front of the compound, while
Via on the Romanian market, Antoanela was one of Lujerului Metro is at 15 minutes’ walk.
the most present voices on the market, promoting
the increase of the level for 5% VAT, through AREI Aviaței Apartments is the third Gran Via project in
(Association of Real Estate Investors from Romania). Romania, also built on an industrial lot of Paste
Baneasa, in the Aviatiei area. In this location, 291
apartments were delivered at the end of 2019.
“In the summer of 2021 we are launching the
second phase of Gran Via Marina, a 40 million EUR Its contemporary design, the 1.000 sqm interior yard
investment in 500 apartments on Constanta with green spaces, playgrounds and meeting
market. In Bucharest we are working on authoriz- grounds for residents, the effective partitioning and
ing two projects: the second phase of Aviatiei premium finishing materials are just some of the
Apartments, 80 units, and a new project on Fabri- benefits of Aviatiei Apartments.
ca de Gheata street, 90 apartments.”
The fourth project is Gran Via Marina, in Constanta,
near Vivo! shopping mall, where the first phase was
delivered in Spring 2021, totaling 192 apartments.
The investments of Gran Via on Romanian market Upon completion, the entire complex will have about
exceed EUR 200 million, the company’s portfolio 1.000 apartments.
amounting to over 2.000 apartments.
The fifth project is in Bucharest, on Fabrica de Gheata
The first project of Gran Via in Romania was street, near the new Urban Highway, which facilitates
Timisoara 58, built on the former Frigocom platform, the access to the business hub in Pipera – Aviatiei.
in District 6 of Bucharest, totaling 800 apartments. The developer is working here on authorizing a
90-apartments project.
The project is appreciated for the good connection
with the city center - Gorjului subway station at only
15 minutes walk - as well as for the hosing quality and Contact:
functional efficiency. [email protected]
55
Profile:
CEO & Shareholder PSC Group, developer of
WIN HERASTRAU residential compound
Market value of WIN HERASTRAU project

€ 80 mil.
Experience
15 years in construction & real estate
BREC TALKS:
CRISTI PASCU
BORN ENTREPRENEUR
Cristi Pascu is the representative of the 2nd generation of entrepreneurs in PSC Group, a Romanian family
business founded in 1997, consisting of 8 companies covering a diverse range of business segments including
construction, design, architecture, project management, financing and legal advice.
The business was founded by his father, Dumitru Pascu, a construction engineer. In 2007, when Cristi finalized
his studies, at the age of 22, he teamed up with his father to further develop the business together, splitting
their responsibilities: he was in charge with the strategy, while his father focused on the technical aspects.
The group reached an annual turnover of € 20 million, and given their expertise in construction industry, they
decided to enter the real estate development market, with a premium residential product: WIN.
“The broad spectrum of the group’s abilities allows us WIN HERASTRAU: OUR STRATEGY WAS TO
to optimally approach the details of developing ATTRACT INVESTORS, CREATING A DIFFERENT
spectacular real estate projects, with a high level of PRODUCT
complexity. We are working on the delivery of the first
250 apartments, with a plan to add another 50 to this “We are in the final construction stage for the first five
elegant project, located near Herastrau Park.” buildings of the condominium, 90% of the 252 apart-
ments being already sold. Our strategy for a part of
the project was to attract investors, creating a different
product. Our proposal for such type of clients is 7%
gross annual return, our property management
The project is developed on a land of 11.500 sqm in company following to manage the units right after the
the French Quarter, near the Herastrau Park, totaling sale. What we do different from others is that we offer
six buildings with 302 apartments and penthouses. In integrated services: design & furnish, lease and
the first phase, the developer is building five low operate. After the acquisition, it is our task to ensure
height buildings with 252 units (2-5 rooms), following the 7%. We have a distinct entity through which we
to add another building with 50 apartments. Accord- manage an apartment, we take care of its furniture, we
ing to Pascu, the market value for the entire project is do all the interior design, we find the tenant, we pay
€ 80 million, with a medium value per unit of € the utilities and then the investor gets a 7% return,
250.000. regardless if we rent it on a long or short term basis,”
says Cristi Pascu.
The developer focuses on creating a community in the
new compound. Pedestrian alleyways and the adja-
cent park contribute to a relaxing and warm atmo- Contact:
sphere for both adults and children. The private offi[email protected]
leisure space, as well as other facilities based on
reservation bring a higher comfort. More than 20
retail areas will accommodate essential needs and
services for the neighborhood: fitness and sport,
children's playground, work from home shared space
area, beauty salon, professional laundry services, car
washing, supermarket, coffee shop.
BUYERS’ PREFERENES DURING THE PANDEMIC
“We were surprised to notice last year the increase of

the entire premium and high-end residential
segments”, the developer says. Demand for
high-quality products, excellent located is constantly
growing. “Looking at the evolution of the economy,
we can see that we are in a better place than we
would have expected last year at the beginning of
restrictions. Traditionally known for its tech excel-
lence, Romania was favored by the rapid digitalization
process in the pandemic context, fact that led to a
bigger segment of population that can afford quality
homes. Clients are more sophisticated, and they
treasure not only a well-built construction, but also
facilities and amenities which significantly improve
their lifestyle. Integrating facilities such as a hub of
shared working area, fitness center, children's play-
ground, beauty salon, professional laundry services,
car washing, supermarket, or coffee shop made the
difference on our side. We are still looking for other
out of the box retail businesses that might align to our
vision of lifestyle,” Cristi Pascu ads.
57
MAURICIO MESA
GOMEZ
OPPORTUNITIES
MEET NO BORDERS
Profile:
Country Manager, Cordia Romania & Spain
Member of Cordia`s Board of Directors
Portfolio value of Futureal Group, owner of

Cordia: €5.0 billion
Experience: 20 years on the real estate

markets in Spain, Bulgaria and Romania
Cordia in numbers:
7.000 apartments completed over the last 19
years, 4.000 apartments under development,
pipeline of 11.200 apartments in the coming
years
Mauricio Mesa Gomez is Country Manager of Cordia

Romania and Spain and member of Cordia’s Board of “We are currently focusing on building Parcului20
Directors. phase 2, comprised of 220 apartments destined to
the medium-high segment of the market, in the
Born in Spain, Mauricio Mesa Gomez is a law graduate context in which the residents in the 1st phase
from Navarra University, specialized in real estate. started moving in their new apartments in March
After an activity spanning for 5 years on the Spanish 2021.
real estate market, his experience in Eastern Europe
We are currently assessing which land-plots in our
started back in February 2006, partnering with a
portfolio we will develop next, depending on the
group of investors and managing their investments in
market conditions and other factors. We intend to
Bulgaria. There, he has successfully closed
launch a new residential project this year, on a
joint-venture agreements for two important projects in
land-plot located in North Bucharest.
Bansko. Then, after 8 years as General Manager for
Hercesa Romania and Bulgaria, he joined Cordia, part
Cordia Romania is currently developing the
of Futureal Group, in 2016.
Parcului20 residential project, located in Expoziției
area, North Bucharest.In 2021, the developer
Mauricio Mesa Gomez is successfully coordinating the
intends to launch another residential project in
development of Parcului20, the residential project
North Bucharest. Cordia has a land-portfolio in
Cordia Romania started developing in 2019 in
Central-North and North Bucharest that provides a
Expoziției area, North Bucharest. Even in the context
2.000 apartments pipeline on medium term.”.”
generated by the COVID-19 pandemic, the
construction works on the project continued without
interruption and the first residents moved in the
project in March 2021. Construction works on the
second phase of the project, comprised of 220
Contact:
apartments destined to the medium-high segment
Ana Maria Cioclei, Marketing Director |
started in November 2020.
[email protected] | 0742.196.422
In Spain, Mauricio Mesa Gomez is coordinating the
development of Jade Tower, a residential project
comprised of 116 luxury apartments and penthouses
located in Fuengirola, at the heart of Costa del Sol.
BREC TALKS:
ALINA VERDEATA,
GREEN ALLEY
THERE IS ROOM
FOR NEW,
SOPHISTICATED
CONCEPTS IN
ROMANIAN
RESIDENTIAL
With an experience of 17 years on the local residential
market, Alina Verdeata chose to establish her own
boutique consultancy & brokerage company, Green Alley,
after owning two branches for several years in Coldwell
Banker Affiliates of Romania. Green Alley provides integrat
-
ed consulting, marketing and sales services to residential
developers and investors. The company has a portfolio of
brokered properties worth of 400 million EUR and a team
of 14 professionals.
Main projects Residential products favored during pandemic
We are the exclusive agent for Estic Park, a large scheme We see two types of products favored by the pandemic on
developed by ILDC group in the Eastern part of Bucharest, the Bucharest market:
on the shore of Lake Dobroesti. We have sold there 250 • villa-compounds located in green areas, at the outskirts of
apartments. The request came mainly from young families Bucharest close to important infrastructure projects – A0 or
for whom the area was of interest, being attracted by the the Urban Highway, with numerous facilities and amenities.
lake view and the project’s facilities, adapted to a modern • boutique-projects, located centrally, with a focus on design
and functional lifestyle: gated community, green areas, and architecture, featuring generous terraces.
playground, parking spaces, areas dedicated to pets, etc.
Creative architecture, the next big thing in residential
Another project in our portfolio is Opera Residence, a
boutique project of 46 apartments, located on 52 Calea Now we are crossing the era of the architect! Considering the
Plevnei, in the immediate vicinity of the Opera Park. This is a dynamics of the market lately with records on deliveries from
premium project, addressed to clients who appreciate the year to year, the competition being more tight, we feel more
urban lifestyle, in an ensemble with a small number of units, and more the need for novelty and innovation of architectural
located in a central area of the Capital City. products. The concept, the idea are becoming the differenti-
ating factors, because they come with a lifestyle, a vision that
A third project I would like to mention is South Side the public empathizes with.
Residence in Constanta, a large development on a land of
2,8 hectares which will total six blocks with 384 flats. The With the validation of the high - end market, there was also
concept integrates numerous facilities by creating retail the refinement, the education of the market that is now
spaces at the ground levels of all the six blocks. We are now looking for something different, in any segment of the
selling the first phase: three blocks with 192 units to be market.
finalized by Q3 2022.
Therefore, the developers should keep in mind using
creative architects studios, even award winning ones. Of
course, aspects of sustainability and community will be
essential in the recipe for their success.
59
RICHARD
MCLAUGHLIN
DUANE
INVESTING ACROSS
GEOGRAPHIES
Profile:
Partner & CEO, London Partners
Gross Development Value of London

Partners investments in Europe:
£220m
Experience: 17 years in hard industry,

petroleum, mining & real estate across
geographies
Richard McLaughlin-Duane is Partner and CEO of “Our entrepreneurial spirit is matched with a
London Partners, a real estate investment platform generational investment philosophy, creating
with a GDV of £220m in Europe and current projects both sustainable returns and long-term value in
under development that include the award winning the projects and communities in which we
multi-phase Belvedere Residence in Bucharest, a develop and invest.
mixed - used project which will comprise of nearly
1.500 apartments, as well as a ultra-high-end housing
project on one of the most exclusive residential roads
in London. The platform is backed by Provident Management, the
investment arm of an international group employing
“As value investors, we connect our own committed over 10.000 people worldwide. Investments over the
equity to a long term vision through three distinct Real last 10 years have been in excess of €1bn across
Estate Funds: RED – Development, REYA – Yield industries including steel production, agriculture and
Assets and REVA – Value Add”, says Richard McLaugh- farming, banking and energy production.
lin-Duane.
MICHELE NUSCO
BREAKTHROUGH INVESTMENTS
Profile:
CEO, Nusco Group
Current investments:
Over € 70 M (Nusco City/ residential)
Experience:
More than 20 years on the Romanian market
Michele Nusco is the CEO of Nusco Group, an Italian

“The new residential projects attract especially
family business having entered the Romanian market
customers who already bought an apartment in a
since 1997. The group holds Nusco Imobiliara, with
new development and aim for an upgrade now, after
three real estate development divisions – Nusco Office,
the pandemic period.”
Nusco Residential and Nusco Commercial and it also
owns producer Pinum Doors & Windows, with the
largest productive capacity of doors from Romania.
Nusco Group currently holds one of the most significant

residential developments in the Northern area of
Bucharest, Nusco City, a premium compound totaling
more than 600 apartments. The project is developed on Office & Commercial Portfolio:
a 23 hectares area and its first phase comprises 4
buildings with a total number of 310 apartments. • NUSCO TOWER: 23.000 sqm class A offices
Operating on the site location of the current Nusco City • Aleea Alexandru Office: 1.500 sqm class A offices
development, Pinum factory will be relocated, the • Floreasca Office Building: 4.000 sqm class A offices
investor aiming to increase the factory production • Caramfil Office: 1.300 sqm class B offices
capacity. • Pipera 48 Commercial Park: 17.500 sqm commer-
cial area
The company targets to develop important urban poles
by designing and building modern office developments, Residential Portfolio:
residential compounds and commercial parks. Nusco
Group also holds investments in the retail and touristic • Città Residential Project (Bucharest Eastern area):
facilities. 480 apartments
• PREMIO Residential Project (boutique)
The group signs several landmark transactions in • NUSCO CITY: 662 apartments under development
Romania, such as the successful development and exit
transactions of Nusco Tower (sold to Globalworth), the
sale of four hectares of land to Portland Trust for the
development of an office park or the sale of two land
plots in Pipera area to Globalworth.
61
BREC TALKS:
ALINA MARULIS, OXYGEN HOME

AMBITION TO DELIVER A PREMIERE ON
THE ROMANIAN MARKET
After a 10-year career working for one of the biggest Romanian concrete producers, NEST, where she
was responsible for annual sales of € 100 million, Alina Marulis established her own investment compa-
ny, Address Construct Design, in 2015.
In 2020, she started an ambitious investment, Oxygen Home - a luxury villas compound, in the Northern
residential area of Bucharest, at the edge of Baneasa forest. We discussed more with Alina Marulis on the
concept of her investment, the novelties it brings on the local market and further targets and ambitions.
Oxygen Home luxury concept The air conditioning, irrigation, entertainment, jacuzzi
systems are controlled by a very well thought out
The idea of this project came from my dream home: a cocktail between the proprietary protocols of the
luxury building, surrounded by the lush vegetation, equipment suppliers and Amazon Alexa.
where the uplifting exterior aspect of the house
matches the grandeur conferred by the interior 2021 target
design. While searching for the land to build such
state-of-the-art villa, I realized that this type of product In 2021 we will deliver the first units from the com-
is missing on the Bucharest market. Thus, the idea of pound, while the entire investment, of € 10 million,
developing a boutique villa condominium targeting will be finalized next year. Designed after the latest
the high-end segment emerged. standards, with an architecture respecting the environ-
ment, Oxygen Home will be certified as a sustainable
The houses are built on plots of 450 sqm and have an ensemble and will receive the "Green Homes" certifi-
area of 375 sqm, distributed on the ground floor and cation from Romania Green Building Council. My
first floor. The villas will be turnkey delivered and will ambition is to deliver a premiere on Romanian market
benefit from facilities such as smart home system in terms of architecture, design and smart home
controlled via smart phone or tablet, jacuzzi, sauna, facilities.
fireplace, garden with deck and lawn, arranged
according to a landscaping project with integrated Oxygen Home recently partnered with Corporate
lighting system, etc. Brand and will bring the first Elie Saab Mansion on the
Romanian market. “Due to the courage and vision of
Product differentiators the founder of Oxygen Home, Romania joins countries
such as Dubai, Qatar, Panama, or the United States in
The entire intelligent control infrastructure of the the field of luxury villas where Corporate Brand has
houses is a premier for Romanian market. The central developed several projects in partnership with various
agnostic unit with the communication protocols of the top developers”, the representatives of Corporate
controlled equipment allows a modular and extremely Brand stated.
flexible design of the solution. The lighting ecosystem
is controlled by DALI protocol to establish customized Contact:
scenarios for each unit. The access system in the offi[email protected]
house is based on technologies with Artificial Intelli-
gence components that serve the Face Recognition
module, being completed by the back up using
numerical code.
63
GHEORGHE IACIU
Entrepreneur/ Major Shareholder,
IMPACT Developer & Contractor
One of the first local real estate investors, Gheorghe Iaciu is now the major shareholder of Impact Developer &
Contractor, with more than 50% participation in company shares.
Established in the early 90`s, IMPACT is one of the first Romanian construction and development companies, 100%
owned by local investors. As of 1996, the company was listed on the Bucharest Stock Exchange and as of 2015
Impact’s shares have been traded in the Premium category.
The company has active investments in the residential sector (Greenfield Residence and Luxuria Residence in
Bucharest, Boreal Plus in Constanta) and commercial (Greenfield Plaza Baneasa (a strip mall complementary to
Greenfield Residence development in the Northern part of Bucharest).
LUCIAN AZOITEI
CEO, Forty Management
Forty Management is a developer of premium mixed-use real estate and urban green reconversion under Central
District brand. The company was established in 2015, although the founders have been involved in the dynamic
real estate market since 2000 as entrepreneurs of one of the largest real estate construction and finishing materials
companies. The company’s CEO is Lucian Azoitei.
Forty Management has several high-end residential projects completed (333 units), under construction (602 units
in Central District Viitorului 134, Central District Royal Suites and Central District Lagoon City), a 5 star hotel in
Central District Lagoon City, 9.000 sqm of office buildings in Central District Viitorului 134 & Central District
Lagoon City, 2.300 sqm of commercial spaces completed (Central District Cuza99, 4 Elemente and Viitorului 134)
and 5.300 under development in Central District Lagoon City.
FAVI STELIAN
Managing Director, Point Development
Favi Stelian manages the activity of Israeli based Shikun Binui on the Romanian market, under the developer brand
of Point Development. The company has delivered up to now 700 apartments in projects such as City Point, New
Point or Green Point. Shikun & Binui is Israel's largest real estate developer, active in this area since 1920, with
diverse projects in infrastructure, real estate and renewable energy.
The company’s first project in Romania was City Point, located in Aviatiei area, in the proximity of Bucharest’s
largest office hub. The developer has an ongoing investment of € 100 million in a second phase of the project,
Romania’s first residential project LEED certified. For the new phase, the developer has designed a new concept,
tailored to today's living requirements, comprising a SPA center for the tenants of the complex and facilities such
as green spaces and gardens, playgrounds and sports grounds.
The company’s second project was New Point, a large residential scheme located in Pipera, North of Bucharest
suburbs. Here, the developer will build a total of 600 apartments and another 118 villas. The third project, Green
Point residential compound will be developed on Basarabia boulevard and will comprise a total of 800 apartments
near some points of interest such as National Arena or Mega Mall. The first phase, totaling 147 apartments, is
underway.
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65
67
Profile:
Country Manager
Portfolio value of WDP:

+800 mil. €
Experience:
14 years as manager of WDP Romania
JEROEN BIERMANS
MOTIVATED TO GROW
Jeroen Biermans is the Country Manager of WDP Romania, part of the Belgian based WDP Group. WDP offer
intelligent warehousing solutions, with a focus on the development and letting of semi-industrial and logistical
real estate.
WDP has a solid presence in Romania, where it became the 2nd largest developer and owner of logistic
warehouses that crossed the 1.3 mil. sqm milestone.
Prior to WDP, he held positions at Den Braven Sealants, as lawyer at the Antwerp Bar and at other companies.
Jeroen Biermans is a Law graduate from the Namur University and Leuven University, Belgium. He also stud-
ied Law at the Hamburg University, Germany. He holds a LL.M. degree in Maritime Law from the Southampton
University, United Kingdom.
WDP is the largest operator on the Benelux semi-in- • Stefanestii de Jos project for Decathlon, a 5 mil. EUR
dustrial property market and focuses on the construc- investment.
tion of logistics spaces, with a property portfolio
totaling 6 million sqm in Belgium, the Netherlands, • New developments for LPP, Eobuwie, Fedex, Profi.
France and Romania.
• In 2020, WDP developed investments of +134 mil.
EUR for 223.600 sqm of logistic warehouses.
“Romania is a central point in WDP’s strategy. We • WDP contracted in 2020 a 205 mil. EUR loan from the
plan to continue to develop a €1 billion portfolio IFC to develop 1 mil. sqm. in Romania.
here by 2023. IFC’s green loan, combined with the
certifying of our entire portfolio with EDGE, will
allow us to become the largest owner of certified Contact:
green warehouses in Romania.” [email protected]
12
69
SINZIANA PARDHAN
MANAGING A
STRATEGIC
PORTFOLIO
Profile:
Managing Director, P3 Romania
P3 Romania total GLA:

6.5 mil. sqm
Experience:
More than 15 years in real estate and trade
advisory
Sinziana Pardhan has been Managing Director of P3 comprising of a 212-beds hostel and a restaurant, while
Romania, owned by GIC - GIC, Singapore's sovereign in the second half of 2020 it officially inaugurated the
wealth fund, since August 2017. She coordinates the 400 sqm self-service restaurant and signed a
operations of the company in Romania, a market collaboration agreement with the Regional Branch of
considered by P3 as having great potential due to Railway Transport for Passengers Bucharest (CFR
sustained economic development of the country and Calatori), thus securing trains stops and ensuring access
strong growth potential of the logistics and industrial to the park via train.
segments. Pardhan leads a team of 11 people and
oversees the activity of the most complex logistics “In 2021 we will continue to concentrate our efforts
park in Bucharest, P3 Bucharest A1, with the goal of to strengthening P3 Bucharest A1 park’s positioning
constantly enhancing the value of the company’s on the local market, with a strong focus on
assets and the services provided to its tenants. sustainability.
With a rich experience in investments, acquisitions In this context, we are implementing a series of
and sales, Sinziana Pardhan worked for 9 years for the projects and processes towards achieving our
real estate consultancy company Colliers. Prior to ambitious sustainability goals: we are currently in
joining Colliers, she collaborated with SOPOLEC and the process of obtaining the BREEAM in-use
the Romanian Green Building Council in Romania and certifications for all the 14-logistics buildings within
carried out consulting projects with the US the park and we have just inaugurated the first 2
Department of Commerce (Central and Eastern charging stations for electric vehicles in the park.”
European Business Information Center), the Council
for Economic Competitiveness of the Dominican
Republic and The Global Knowledge Partnership
(Kuala Lumpur, Malaysia).
Locally, P3 owns and manages P3 Bucharest A1 logistic
The past couple of years brought good results for P3 park, with over 380.000 sqm of storage space, freight
in Romania, both in terms of leasing activity and and passenger rail terminals and its own self-service
consolidation of the existing asset. The developer restaurant within the park perimeter.
leased out a total surface of 325.000 sqm between Jan
2019 – Dec 2020, with approximately 220.000 sqm Contact:
leased in 2020 alone. Mid 2019, the company started [email protected]
construction works to its multifunctional project
REMON VOS
THE LARGEST
LOGISTICS OWNER
IN CEE
Profile:
CEO of CTP Invest
Portfolio value of CTP:

€ 5.9 bn.
Experience:
22 years since he founded CTP and started
developing A-Class business parks in the
Czech Republic
Remon Vos, photo credit NL Chamber CZ
Remon Vos established CTP together with two other The parks are developed in close collaboration with its
investors in 1998, to develop A-class full-service over 700 high quality international and domestic
business parks for investors doing business in central tenants, including DB Schenker, DHL, ABB, Primark,
Europe. Lenovo, Honeywell, Bridgestone, Thermo Fisher and
DSV.
Since then, CTPark Network became the largest
integrated system of full-service business parks in
Central and Eastern Europe. Remon Vos has always
been personally involved at both the executive and CTP developed more than 1 million square
operational levels in all CEE markets. meters of industrial warehouses in Romania.
From July 2019, Remon took over 100% control of the
CTP Group and continues to lead the company at Has announced a new plan of 200 mil. euros
full-speed growing the portfolio and strengthening worth of new investments.
relationships with long-term business partners.
Bought the Mobexpert warehouses.
22 years later, CTP employs over 400 people today
and is a top 5 European logistics property
company and the largest logistics property
owner-developer in CEE with leading and growing
market shares in four countries: Czech Republic,
Romania, Hungary and Slovakia.
CTP now owns and operates a modern network of 70

premium multi-use business parks (“CTParks”) with
over 450 buildings. 85% of CTP’s portfolio is located
near capital/major cities, as CTP anticipated the
growing demand for last-mile delivery and the
continued growth of e-commerce.
71
ANDREI JERCA
KEEP ON GROWING
IN LOGISTICS &
INDUSTRIAL
Profile:
Managing Director, Element Industrial
Experience:
Over 14 years in the real estate market
Andrei Jerca has been appointed as Managing

Director of Element Industrial as of March 2021. A "The pandemic created new opportunities in the
professional with 14 years of experience in the real logistics market, in the context of digitalization
estate industry, Andrei has worked for companies acceleration and the growth of the e-commerce
such as Europolis, CA IMMO, P3 or CBRE, being market. Through the diversity of products in the
involved throughout his career both in the manage- portfolio of Element Industrial, we aim to be a
ment of a portfolio of 300.000 sqm of logistics space flexible partner for logistics space tenants in
and in the development of a series of logistics and Romania. ”
industrial projects amounting 200.000 sqm.
Element Industrial is developing a logistics hub in the

Buftea-Chitila area, where it delivered a 50.000 sqm
park and recently started a 37 million EUR investment All projects under the “Eli Parks” brand are developed
in a new 72.000 sqm park. At the same time, the to international class A standards, with the main
company purchased a series of lands in several areas objective of fully covering the needs of potential
in the country, where it intends to develop class A tenants, regardless of the field in which they operate.
logistics parks, such as Braila, Craiova, Pitesti, Bacau, In this context, the concepts used in the development
Iasi, Timisoara or Ploiesti. of parks allow flexibility in accommodating a wide
range of needs, both technical and operational.
DANA BORDEI
DEVELOPING THE
5.0 ERA OF
LOGISTICS
Profile:
Commercial Country Manager, VGP Romania
VGP Net Asset Value:

€ 1.35 billion
Experience:
13 years on the Romanian real estate market
As of April 2021, Dana Bordei was appointed Com- of approx. 250.000 sqm and will have a total potential
mercial Country Manager for VGP Romania - part of lettable area of about 120.000 sqm divided over 4
VGP Group, a European provider of logistics and buildings. Construction of the first building with a
semi-industrial real estate. She will be responsible for surface of 28,000 sqm is planned to be kicked-off in
the further developing of VGP´s portfolio of logistics - June 2021, while the delivery is expected for Decem-
and semi-industrial facilities on the Romanian market. ber 2021.
Prior to joining VGP, Dana worked at WDP Romania as VGP Group has been present in Romania through its
Commercial Director for two years and previously she subsidiary VGP Romania since 2007 and currently has
was Head of Industrial Advisory at CBRE for 12 years. logistics parks in Timisoara and Sibiu, as well as a park
She holds a Master’s degree in Finance from the under construction in Brasov and soon, in Arad.
Faculty of Finance and Banking at Bucharest Universi-
ty of Economic Studies. The group has 77 parks at European level in 12
European countries and is in the process of expanding
in all markets where it is present.
“I’m very excited to be joining VGP to help support
the expansion of the company. There is a lot of
growth potential on the Romanian market and I am
happy to support VGP on its positive growth path.
The industry will enter the 5.0 era in the coming

years and VGP is prepared to offer new ways of
working for the road ahead. “
The appointment comes soon after VGP announced

the acquisition of a new land plot in a prime location
near Bucharest and the start of development of its
new multi-tenant business park VGP Park Bucharest.
VGP Park Bucharest is being developed on a land plot 73
75
ALEX MORAR
Profile:
CEO, NEPI-Rockcastle
Portfolio value of NEPI-Rockcastle

(31. Dec.2020):
€ 5,8 bn. euro
Experience:
17 years of experience in the financial
services and real estate industries
Alex Morar was appointed as joint chief executive NEPI Rockcastle owns and operates 54 retail
officer of NEPI Rockcastle on 15 May 2017 and in June properties (excluding joint venture), which attracted
2018 became CEO of NEPI Rockcastle. 221 million visits in 2020. With Group level
management of tenant relationships and a focus on
He began his career as an analyst at Julius Baer cross-country collaboration, the Group is the leading
Investment Bank in New York in 2004 and in 2005 was strategic partner for major retailers in the CEE
recruited by Bearing Point as a Business Analyst. Alex countries.
Morar later joined the financial advisory practice of
Deloitte Romania also in 2005 where he spent two The Group's financial strategy includes maintaining a
years working on large projects and M&A profile of adequate liquidity, conservative gearing,
transactions. He joined NEPI upon its founding in and a diverse debt structure, which combines secured
2007 and has contributed to all aspects of the and unsecured bank debt with unsecured bonds listed
business since then. Before August 2015, up to his on the Irish Stock Exchange. NEPI Rockcastle is
appointment as NEPI’s CEO, Alex Morar focused investment-grade rated by Standard & Poor's (BBB,
primarily on NEPI’s investments and acquisitions negative outlook) and Fitch (BBB, stable outlook).
program throughout Central and Eastern Europe. As
NEPI’s CEO, he contributed to the significant increase
in the company’s portfolio as well as further growing
its team and asset management platform.
Under his management, NEPI-Rockcastle sold in 2020

its portfolio of office buildings to AFI Europe in a
transaction of 307 mil. EUR, largest ever on the
Romanian office market.
RAZVAN GAITA
Partner / Country Director, Portico Investments Romania
Razvan Gaita joined Portico in mid-2015. Before joining Portico, Razvan Gaita gained significant real-estate
experience as the General Manager of Anchor Group, Project Director in Volksbank Romania, Managing Director
at ECE Project management Romania and earlier as the Development Manager both for Kaufland and for Billa in
Romania.
Razvan Gaita is responsible for the management of the performance of Portico's existing portfolio in Romania and
Portico's growth on the local market by targeting new acquisitions consistent with Portico's investment strategy,
target returns and profitability.
Portico Investments Romania is a leading real estate investor and developer focused on primarily food-anchored
real estate in quality locations that are integrated into sustainable communities.
TATIAN DIACONU
CEO, Ceetrus Romania
Since January 2012, Tatian Diaconu has been in charge of Immochan Romania (currently CEETRUS), the real estate
subsidiary of the Auchan group, one of the most important retail companies in Europe.
CEETRUS Romania manages a network of 23 shopping centres and has developed one of the largest urban
regeneration projects in Romania, Coresi Shopping Resort.
Tatian Diaconu graduated from the Nicolae Bălcescu Land Troops Academy in Sibiu. After a three-year career as an
officer, he left for France, where he attended the University of Le Havre, graduating with a master's degree in
organizational management. Tatian also held, for Decathlon and Bricostore, the positions of expansion manager for the
markets in Romania, Hungary and France.
ARTHUR POPA
CEO, Baneasa Developments
Arthur Popa is an experienced CEO with a demonstrated history of working in the real estate industry. His career
identifies with Baneasa Developments, where he spent over 15 years, having started as Commercial Manager.
Baneasa Shopping City was inaugurated in 2008, following a € 150 million investment. The shopping mall became a
landmark for Bucharest premium shopping destinations, after more than ten years on the market.
Totaling a GLA of 68.000 sqm, Baneasa Developments comprises Baneasa Shopping City and Feeria retail gallery. In
2020, a year severely hit by pandemic, the company posted a turnover of € 33.2 million, as compared to 52.8 million in
2019. Despite the pandemic context, the large retail scheme succeeded to attract new brands in 2020. The French
group L'Oreal opened in Baneasa an YSL mono-brand store that sells perfumery, makeup and skin care products, the
first such boutique in Europe under this brand. Various Brands, Sport Vision or Hugo Boss also opened last year.
77
KLAUS REISENAUER
& KURT WAGNER
DEVELOPING
GERMAN RETAIL
IN ROMANIA
Profile: Founders, Oasis Retail Development

& Consulting
Portfolio: +70 delivered projects, € 800 mil.

investments
Experience: More than 20 years on the

German and Romanian markets
Klaus Reisenauer and Kurt Wagner are the founders of As a strategy, they focus on developing projects in
the German retail development company Oasis, small and medium cities, based on reduced retail
having started their businesses early 2000 in Romania possibilities in these locations.
by developing the first retail units of the German
retailer Kaufland in Romania, followed by discount “When we plan a project, we take into
retailer Plus, subsequently bought by Lidl. consideration more than criteria such as location,
catchment or access, but also the experience and
Today, Oasis Development is one of the most active quality of the product that we are offering to our
retail developers in Romania, with over 70 successful visitors, as we are focused on sustaining their need
projects delivered in the last 18 years, 800 million EUR for shopping and leisure on the long run.
in investments and over 1.5 million sqm of land
development. The company develops own projects
under Prima Shops & Family Center brands and is
currently developing a 9.000 sqm retail park in the The company plans to develop Prima Shops brand in
Northern part of Sibiu, under the same brand. When the cities with over 30.000 inhabitants, with a clear
fully completed, Prima Shops Sibiu will total a 60.000 target to implement efficient shopping concepts, for
sqm area and the first development stage of 9.000 both tenants and clients.
sqm will host 9 retail units. The new shopping concept
will be anchored by tenants such as Hornbach and The two businessmen also hold a portfolio of
Kaufland, a toystore or two furniture stores, to be residential investments in partnership with residential
delivered by the end of 2022. developers and a significant business in Germany,
where they also own a portfolio of retail parks. They
“When we brought the first food tenants in Romania in also hold the Profihairshop brand, developed mainly
2002, we knew that in the next period the retail parks in shopping malls as a specialized retailer of hair care
will start developing,” Klaus Reisenauer said in an products.
interview. Their strategy was to buy land in proximity
of the retail areas of the two anchors Kaufland and Oasis is one of the most active local retail
Plus and developed adjacent retail parks. Their development companies, with a portfolio of
tenants portfolio is composed mainly of German and investment spanning across various cities of Romania,
Austrian origin companies such as Kaufland, Lidl such as Oradea, Roman, Sibiu, Reghin, Fagaras,
(former Plus Discount), Deichman, C&A, Takko or DM Tecuci, Mangalia, Giurgiu, Ramnicu Valcea.
Drogerie.
79
RETAIL
81
ANCA DAMOUR
A GAME CHANGER
IN RETAIL EXPANSION
Profile:
Executive Board Member – Carrefour
Board Member – One United Properties
Carrefour Romania turnover (2020):

€ 2.3 bln.
Experience:
19 years in retail & real estate
Anca Damour is Executive Board Member of Carrefour and her name is linked to the strong expansion of the French
retailer in Romania.
Her role started with Real Estate & Expansion responsibilities in 2013 and progressively extended to a modern
perspective on stakeholder management, by adding Corporate Affairs (2014) and Legal, CSR And External Commu-
nication (2017). She is currently responsible for Real Estate & Expansion, Corporate Affairs, Legal, CSR And External
Communication.
She contributed decisively to one of the fastest expansions of the Carrefour Group in Romania, which led to
doubling the company turnover from EUR 1 billion to 2 bln., between 2013 and 2018.
Carrefour is the 3rd largest retail player on the Romanian market, with strong national presence and more than
18.000 employees.
As of May 2017, Anca Damour is also a Board Member of One United Properties, one of the largest and most
successful high-end residential, office and mixed-use developers in Romania.
DRAGOS IONESCU Profile:

Board Member, Property Development
Procurement, Lidl Romania
THE MAN BEHIND Lidl Romania national network:
LIDL ROMANIA 289 stores
EXPANSION Experience:
16 years in retail
Lidl ended 2020, the year marked by the pandemic, The company is highly preoccupied by sustainability –
with a national network of 289 stores, after they it is the retailer with the most sustainable buildings in
succeeded to inaugurate 33 new units. For 2021, the Romania, according to BREEAM International New
plan is to surpass 300 stores, company’s officials Construction. Lidl store from Bucharest – Aviatiei, the
announcing expansion plans for another 20 new units. company’s headquarters in Bucharest and the logistic
center in Lugoj have all been certified by BREEAM.
The professional behind this aggressive development BREEAM certifies several sustainability standards
is Dragos Ionescu, an experienced retail professional according to criteria such as energy efficiency, work-
with over 16 years of activity in the industry, working place health, reducing the carbon footprint in
for the same retailer. construction or demolition processes and protection
of biodiversity, innovation, reducing the water
The standard for Lidl units is an area of around 1.300 consumption, sustainable recycling solutions, trans-
sqm, with 90-150 parking spaces and 20 employees. port & alternative mobility.
In addition, the new supermarkets have charging
station parking lots for electric cars. At the same time, Lidl Romania has posted a turnover of € 2.65 bln.
Lidl constantly optimizes the format of the stores, to for 2020, becoming the market leader, ahead of
have as little impact as possible on the environment, Kaufland and Carrefour. The company, with 8.779
but also to improve the shopping experience. The employees, recorded a net profit of € 156 mil.
stores have LED lighting system, with presence (756.3 million lei), according to data reported to
sensor, heat recovery systems integrated in the the Romanian Ministry of Finance.
ventilation installations.
83
SERGIU FALA
One of the biggest European retail companies, with 1.300 stores Profile:
in 8 countries and 132.000 employees across Europe, Kaufland is
the second largest retailer in Romania as per 2020 business Executive Board Member - Real Estate/
results. Procurement
The German retailer owns more than 140 hypermarkets in Company:

Romania and in 2020 it obtained a EUR 12.6 bln. turnover. The Kaufland Romania & Moldova
company announced intentions of reaching a total number of 160
supermarkets in Romania by 2024.
NELU ANTON
Romanian supermarket and convenience store chain Profi, owned
by Mid Europa Partners investment fund is the 4th largest retailer
on the Romanian market, according to 2020 turnover.
For 2021, the retailer a target of 250 new stores to open in Profile:
Romania. The company continues the accelerated expansion National Expansion Manager
started a few years ago. The retailer announced plans to open 200
new stores per year on average and become the second-biggest
player on the local market by 2024. At the end of 2020, Profi had
Company:
more than 1.400 units and more than 22.000 employees. Profi Rom Food
MIHAI BADEA
Part of Ahold Delhaize group that operates in Europe, US and
Asia, Mega Image is a chain of supermarkets and convenience
Profile:
stores in Romania founded in Bucharest in 1995 and it is one of Expansion Manager
the most aggressive retailers on the local market.
Company:
At the moment, the company operates more than 800 stores Mega Image
across Romania and employs more than 9.000 people.
85
Commercial
BROKERS & ADVISORS
87
RAZVAN IORGU
OPENING
NEW PATHS
Profile:
Managing Director, CBRE Romania
Company turnover:
€ 11.3 mil.
Experience:
Over 18 years on the real estate market
Razvan Iorgu is Managing Director of CBRE Romania Razvan is advising all major investment and industrial
since 2011, with a career spanning over 18 years in developers on the local market on potential land
Romanian real-estate, primarily within the company. acquisitions and disposals, such as the land transaction
Prior to 2011, Razvan acted as COO of CBRE. As done by VGP in Arad in 2020 (39 ha for a new logistic &
Managing Director of the company, Razvan leads a industrial park).
team of over 160 people, constantly challenging them
to embolden the real estate market and to strengthen He was also involved within the team effort of CBRE, in
CBRE’s market leader position as a real estate data advising S IMMO for a landmark office investment
driven company. transaction in Bucharest.
Under his mandate, CBRE Romania recruited the best Another important deal where he played a major role
talents on the market and achieved outstanding was the 85.000 sqm renewal transaction of Carrefour at
results in all CRE sectors, leasing and investment. P3 Bucharest A1.
Razvan started new lines of business within the com-
pany, like project management, property manage-
ment and workplace & change management, all of
which became profitable & renowned for quality of
service.
“CBRE Romania consolidated its leading position also on the property management segment,
offering complex services for over 810.000 sqm in 8 major cities, almost double compared to the next
direct competitor. ”
89
SILVIANA BADEA
Managing Director, JLL Romania
With more than 15 years of experience on the local real estate market, Silviana Badea, a reputed real estate
specialist and manager has been leading the local subsidiary of the international advisory firm JLL since 2017.
Since joining JLL, Silviana has advised clients like GLL, Argo, Revetas, Mapletree, PPF. In her career, Silviana has
participated in deals totaling more than €1 bln.
JLL is an international advisory firm involved in buying, building, occupying and investing in a variety of assets
including industrial, commercial, retail, residential and hotel real estate. JLL is the largest commercial real
estate brokerage company in Romania, as per 2020 business results.
LAURENTIU LAZAR
Managing Partner, Colliers International Romania
Laurentiu Lazar has 14 years of experience in real estate services including valuation, advisory and investment. He
joined Colliers in 2007 as a real estate valuer and in 2009 he was promoted to Head of Valuation and Advisory
Services, with the responsibility to expand the valuation team in Romania. In 2015, he became Head of Investment,
developing the Capital Markets services and later appointed as Senior Partner within Colliers International
Romania in 2016, managing over 20 experts. As of March 2018, Laurentiu was promoted Managing Partner.
Before joining Colliers, Laurentiu worked for 10 years at Vodafone Romania/Connex, holding different
management positions within Marketing and Customer Operations Divisions. Between 2014 and 2017 he has
been Vice-President of ANEVAR (Romanian Association of Valuers).
MIHNEA SERBANESCU
Founder, Cushman & Wakefield Echinox
Mihnea Serbanescu is founder and general manager of Cushman & Wakefield Echinox, a company created
through the international merger of Cushman Wakefield and DTZ, one of the first brokerage firms established by
Mihnea on the Romanian market.
Cushman & Wakefield Echinox has maintained a constant presence in the top 5 largest brokerage companies on
the Romanian market.
HORATIU FLORESCU
Chairman & CEO, Knight Frank Hungary & Romania
One of the most experienced and successful consultants on the local office market, Horatiu Florescu has a wide
breadth of property experience, gained in a career spanning more than 20 years, during which he advised the
main developers as well as some of the most prominent multinational companies operating in Romania.
Horatiu Florescu co-founded The Advisers at the beginning of 2009, after working for more than ten years for
Colliers Romania and later on, in 2015, the company name changed into Knight Frank, as it formally became part
of the British group - the world‘s largest independent property group.
Horatiu Florescu was named Most Successful Broker on Romania’s market on multiple occasions.
DAVID CANTA
Principal, Romania & Czech Republic at Avison Young,
Co-founder Commons
Avison Young is the world’s fastest-growing commercial real estate services company. Headquartered in Toronto,
Canada, Avison Young is a collaborative, global firm owned and operated by its principals and it opened its
Romanian office in 2017.
Led by David Canta, the company grew to become one of the most important real estate consultancy firms on the
local market, offering a complete range of real estate services. Avison Young offers its tenants consultancy for real
estate investments, rental transactions, financing, evaluation, property and project management for all types of
properties.
David Canta is also co-founder of Commons co-working space network operating 3 locations in Bucharest.
91
CONSTRUCTION, SUPPLIERS,
PROPERTY & FACILITY MANAGEMENT
93
Profile:
Country Manager, Alukönigstahl Romania
& Republic of Moldova
Turnover (2020):
€ 21.5 mil.
Experience: ore than 25 years of in the field of

architectural systems
ATTILA BEER
BUILDING SCHÜCO DISTRICTS
ACROSS ROMANIA
Attila Beer is a graduate from the Technical University of Budapest and has been working with
Alukönigstahl Hungary since 1993. After the establishment of the Romanian branch, he formed and led the
local sales team. As company leader, he engaged in the continuous development of the company, by building
partnerships with companies in the field of metal constructions and architecture and by forming a strong local
team. Since 2016, he also manages the Alukönigstahl branch in the Republic of Moldova and since 2020 Attila
Beer is a member of the Board of Directors in OTP-Mobiasbanca Republic of Moldova.
Alukönigstahl is in a leading position in the aluminum, PVC and steel systems local market and it registered a
EUR 21.5 mil. turnover in 2020. The company further targets business consolidation on the traditional office
and commercial segments, as well as business expan-

sion on the premium residential segment, given that
the pandemic outbreak highlighted Romanians` need
to live in better conditions.
Alukonigstahl is exclusive dealer in Romania for

Schüco (world lider in aluminium and PVC systems)
and Jansen (steel profiles supplier). In 2020,
Alukonigstahl delivered Schüco aluminium systems
for more than 75.000 sqm of curtain wall for new
real estate developments.
“Through our projects and partnerships, we have

been pioneering this segment in Romania and up
to present we developed several large “Schüco
neighbourhoods”.
We aim to consolidate our existing portfolios

through digitalization and by streamlining our
supply chain, as well as to expand on new
segments, such as the residential sector, which has
a high growth potential in Romania.”
Attila Beer is also a member of the board of directors

of PPTT – The Romanian Insulated Carpentry Produc-
ers Association (an organization of which Alukönig-
stahl was a founding member) and is also a founding
member of RoEnef – Romanian Association for the
Promotion of Buildings Energy Efficiency.
ALUKÖNIGSTAHL operates in Romania since 1995

and cooperates with the most experienced producers
of façades, windows and doors construction in Roma-
nian market.
Recent projects:
• U Center
• Offices Jiului
• Isho Offices Timisoara
• Millo Office
• Dacia One
• Continental HQ in Timisoara
• Skanska Equilibrum 2
• AFI Tech Inox 2
• Win Residences / PSC Group
• Nusco City
• Neo Timpuri Noi
• Neo Mamaia
95
LAIMONAS LUIZYS
EFFECTIVE
LEADERSHIP
Profile:
Managing Director, Peikko Romania
Experience:
16 in constructions & production
Laimonas Luižys, M.Sc. is responsible for Peikko Peikko’s innovative solutions offer a faster, safer, and
business development in Romania. He is originating more efficient way to design and build. Peikko has
from Lithuania and joined Peikko Group in 2017, sales offices in over 30 countries in Asia-Pacific,
taking the lead of project management and later also Europe, Africa, the Middle East, and North America,
production planning teams in the Lithuanian entity with manufacturing operations in eleven countries.
(Peikko Lietuva). After successful period there, he was Peikko generated a turnover of EUR 231 million in
delegated to take over sales and operations in 2019. Peikko is a family-owned and managed
Romania for best practices implementation since the company that employs over 1.800 professionals.
beginning of 2020.
Laimonas Luižys is present in the construction and real “Peikko is aiming to be a forerunner in the
estate sector since 2005. His career started in construction industry.”
university years taking two consecutive roles of
assistant in one of the strongest at that time Lithuanian
real estate development group (Invalda) – general
contractor and project development companies. After
graduation from civil engineering bachelor studies in
2007, he joined Lithuanian unit of one of the world’s
leading enterprise in precast concrete industry
(Consolis). There he spent ten years in sales, project
management and middle management positions
meanwhile graduating as M.Sc. in civil engineering in
2009 from Technology university of Kaunas.
Peikko Romania was established in 2018 and is a part

of Peikko Group Corporation, established in 1965 and
headquartered in Lahti, Finland. Peikko Group
Corporation is a leading global supplier of slim floor
structures, wind energy applications and connection
technology for precast and cast-in-situ.
RAUL DOICESCU
ENVISIONING A
CULTURE OF BUILDING
IN ROMANIA
Profile:
Founder & President, Bog’Art
BogÀrt 2020 turnover:

€ 122.3 mil.
Experience:
30 years in construction
Raul Doicescu started a family business in 1991, which “Bog’Art is a culture of building. In order to
constantly grew to become a market leader, being successfully deliver a turn-key project, our group
able to finalize complex and innovative projects at of companies are equipped and organized to the
highest standards, including both civil engineering scale of a large corporation but carry the personal
and real estate development. touch of a family business.
The company established by Doicescu was the The fully integrated building services we provide
general contractor for some of Bucharest’s most are client-orientated, with a strong focus on
important new real estate developments such as applied ingenuity and responsiveness to each
Globalworth Tower, The Bridge, Veranda Mall, Mega project’s needs.”
Mall, Sun Plaza, Globalworth Campus, Timpuri Noi
Square, Unirii View, City Gate, Charles de Gaulle
Plaza, Ikea Pallady, Baneasa Shopping City, Belvedere
Residences, Oxford Gardens, etc. The company pays special attention to sustainability,
its approach being based on the best building practic-
According to company, BogÀrt portfolio comprises es that emphasize long-term affordability with mini-
half of Bucharest’s office modern stock. The mum environmental impact. The four principles it aims
construction firm also worked for important real for the building’s entire life cycle are efficiency, utility,
estate, infrastructure and hospitality projects, both durability, and comfort.
in Bucharest and major cities of Romania. Ongoing
works include Globalworth Square, Miro Offices,
Baneasa and Brasov airports. NEXT STEP IN REAL ESTATE DEVELOPMENT
The construction company is also taking a next step
In 2020, Bog’Art reported € 3.6 million in profit, towards real estate development, announcing an
compared to € 420.000 in 2019, while reducing the investment of € 20 million in a residential project on a
number of employees to 398. The revenue went down plot of land in northern Bucharest, bought from
5% in 2020 compared to 2019, to € 122.3 million, Petrom.
while for 2021 they are expecting an increase to reach
around € 123 million. The Art’City project will have 141 apartments, 500
square meters of retail space and 180 parking spaces
and it is to be delivered in October 2022. 97
RADU PITURLEA,
CONCELEX: The real estate market has had an outstanding
PROMISING recent performance, achieving much better
results than analysts initially expected. The sector
BUSINESS recently experienced more of a repositioning, a
OUTLOOK, WITH “detox” process it went through and prospects are

really optimistic, especially for Bucharest,
2020 – 2025 considering it has a higher GDP than Bulgaria,
Serbia or Lithuania, Concelex Principal, Radu
CONTRACTS Piturlea says in an interview for BUCHAREST REAL
ESTATE CLUB.
CLOSE TO
$ 420 MILLION
How do you see the local post-pandemic real estate market?
Economic, political and social outlooks seem nothing but promising. We expect local economy not only to recover,
but to actually boom in the upcoming period, registering a record increase. Goldman Sachs, for instance, foresees
+9% economic growth for 2021.
Furthermore, the EU closely supports cohesion policies and shows clear intentions to direct important European
funds towards cohesion in Romania. This will certainly act as price equalizer in Romania compared to the EU,
bringing dwelling prices in Romania close to Western levels. Also considering average local selling prices, with
Romania currently ranking amongst the least expensive destinations in Europe, the country’s NATO membership,
as well as the expected economic progress, there is enough room for price/ sqm increase.
The future of business
We managed to strategically balance our portfolio works during this new “era” and guide our new business efforts
towards fruitful, still operating sectors that could generate new projects. Thus, in the approaching period, we
intend to focus our efforts and strategies on two main directions – buildings for us to manage as General
strategically, being fully prepared to enter major

development works, especially coming from the
transport, energy or defence infrastructure sectors.
In addition to this, with an already contracted value
for the 2020 – 2025 period reaching close to $ 420
million, outlooks for the business seem promising,
with a balanced upcoming construction portfolio
coming both from the public and the private sector.
Key business differentiator

One of Concelex’s key differentiators stays in the
company’s service portfolio itself. Concelex is THE
integrated construction company. We provide fully
integrated construction services - buildings,
infrastructure, energy and civil engineering -, being
one of the few companies on the market to cover the
entire construction spectrum. We have one priority:
delivering top tier projects on-time and on-budget,
driven by three key factors – passion, experience, and
a craving for new technologies.
Sustainability vision
Contractor, as well as transport, energy and defense We strongly believe our construction know-how
infrastructure projects that are the three main assets should be backed by a sustainable strategy, whilst
the public sector prepares as the aces in the hole business success is not our only goal. We designed
when discussing public investment budgets. our operations in order to leave an ambitious mark
on people and places, bringing constructions from
scratch to art, yet reducing environmental impact to
Projects highlights minimum. Thus, Concelex is the first and only
carbon-neutral general contractor from Romania
In the recent years, the company focused on since 2016. We are committed to calculating and
diversifying its customer portfolio and increasing the offsetting our annual emissions as part of our
number of tenders in order to neutralize market sustainable business strategy. The company has
inconsistency on certain sectors, this leading us also chosen to offset its emissions by investing in an
to notable milestones. equivalent number of Carbon tones credits
In the energy field, Concelex is the company to build associated with a green project which generates
the only hyperbolic 60-meter high cooling tower in clean energy from the capture and combustion of
Romania, the first to be newly-built in the past 30 landfill gas.
years for a thermoelectric power plant, as well as us
being part of the construction consortium to build
from scratch Steaua and Rapid Stadiums in Bucharest
(+45,000 capacity), building 32 of the overall 85
stores in the BILLA hypermarket network in Romania,
Maritimo Shopping Center, the current VIVO!
Constanta premises, or being one of the first
companies to open gates for the Central-Western
neighborhood in Bucharest when delivering
Orhideea Gardens.
Business plans for 2021-2022

On the short-term future, Concelex plans to increase
the company’s digitalization level, to invest in the
employees’ professional development in order to be
able to approach even higher complexity works.
Also, considering the upcoming large-scale
infrastructure projects, we approach opportunities
99
DANIEL POPA
KEEP GROWING
Profile:
Country Manager, Reynaers Aluminium
Romania
Experience:
8 years in the architectural systems market
Daniel Popa is the Country Manager of Reynaers reached the target results, the company representa-
Aluminium, the leading European provider of innovative said for BUCHAREST REAL ESTATE CLUB.
tive and sustainable solutions for windows, doors,
curtain walling, sliding systems, sunscreening and Moreover, although the work from home period led to
conservatories. some office projects blockage and consequently to
the decrease of demand in this sector, for the residen-
The company signs several of the most prominent tial segment, one in which Reynaers extended signifi-
recent developments in Romania, such as One Florea- cantly in the last years, the forecast is positive, accord-
sca City, The Light One, Tiriac Tower, Record Park, ing to the company data.
Oregon Park, Aviatiei Park, Campus 6 or Sema Parc.
Even if all players in the sector felt the financial echoes “For 2021 we target a 5% turnover increase based
and effects of the sanitary crisis, due to an efficient on an extensive strategy to access other segments
strategy and a fast adaptation to the market requests and extend our products portfolio with Forster
and changes, Reynaers managed to recover the steel systems.”
decline caused by the lockdown period in 2020 and
be one of the Reynaers Group companies that
101
All People You Should Know in

CONSTRUCTION
COMPANY TURNOVER (2020) PORTFOLIO KEY PEOPLE
Strabag 179.85 mil. € Austrian-based Strabag is a traditional Johann Pölzl

partner for complex infrastructure
schemes. In 2020 the company worked at Managing Director
the bridge over the Somes River, in Satu Bulgaria & Romania
Mare. The Austrians also won a contract to
build another section of the A3 motorway
(Transylvania highway), a 4.5-kilometer
section from Ungheni to Targu Mures. The
company is also involved in public
buildings, residential projects and it also
holds a Real Estate development division.
An Austrian-based company, PORR

PORR Construct 174.79 mil. € portfolio comprises both infrastructure and Vladimir Spirescu
private projects. PORR is currently working
on the lot 1 of the Sibiu - Pitesti highway
COO | Member of the
and the rehabilitation of some runways Board PORR Romania
within Otopeni airport, a project worth 30
million euros. On the private projects
segment, PORR is currently working on the
Vox Vertical Village project in Timisoara,
developed by Werk Property Group.
Constructii Erbasu 148.68 mil. € In 2020, Constructii Erbasu completed the Cristian Erbasu
works at the Steaua stadium in Bucharest,
several tires in sectors 1, 4 and 6, schools Founder
and kindergartens, a swimming pool in
Gaesti, district heating works in Iasi and a
treatment plant in Dumbravesti.
In the private sector, the company works

for several residential projects such as
Arbo or Marmura Residence.
BogÀrt group of companies is active in

BogÀrt 122 mil. € the construction and real estate markets,
Raul Doicescu
comprising 6 companies: Bog’Art Building Founder
Management, Bog’Art Steel, Bog’Art
Residential, Alusystem, Consconstruct and
Toni Trading.
The company signs over 600 representa-

tive buildings in Bucharest and across
various regions of Romania - according to
company’s officials the portfolio comprises
half of Bucharest’s office modern stock.
HIDROCONSTRUCTIA 107.61 mil. € The company's portfolio covers the field of Mihaita Fundeanu
municipal works of water supply networks,
sewerage networks, water treatment and President
treatment plants, pumping stations,
rehabilitation works and establishment of
irrigation systems or waste management
infrastructure, being also involved in
private real estate developments.
At the end of 2020, the company

announced it works for 80 projects with a
value of € 253 million.
COMPANY TURNOVER (2020) PORTFOLIO KEY PEOPLE
CON A 101.92 mil. € CON-A is one of the largest Mircea Bulboaca

privately-owned construction
companies. in Romania. The Founder
company is general contractor that
is building one of the largest
investments in the industrial field
currently carried out in Romania.
The company signs various
production factories, logistics
facilities, stadiums and sports
facilities, hotels, business centers.
Concelex holds open construction

Concelex 50.38 mil. € sites for both private clients and Radu Piturlea
beneficiaries in the public area. Principal
In the energy field, Concelex is the
company to build the only
hyperbolic 60-meter high cooling
tower in Romania, the first to be
newly-built in the past 30 years for
a thermoelectric power plant, as
well as us being part of the
construction consortium to build
from scratch Steaua and Rapid
Stadiums in Bucharest (+45.000
capacity). The company signs 32 of
the overall 85 stores of the BILLA
hypermarket network in Romania,
Maritimo Shopping Center, the
current VIVO! Constanta premises,
Orhideea Gardens in Bucharest.
PAB Romania with headquarters in

PAB 49.7 mil. . € Arad is a privately held company Ion Sandu
founded in 1993, with core Founder
business is industrial and civil
construction, roads, bridges and
metal works.
The company signs over 200
projects in almost all counties in
Romania, projects portfolio
including Tiriac Tower (Bucharest),
Lotus Mall (Oradea), various Lidl
stores, The Office Business Center
(Cluj Napoca).
Part of Baupartner group which

Baupartner Construct 41.9 mil. € comprises 5 reputed brands in Adrian Petrine
sub-sectors of the construction, Administrator
Baupartner Construct is headquar-
tered in Ploiesti and signs various
general contracting projects.
The company is involved in

industrial & logistics construction,
office and commercial buildings.
Headquartered in Cluj - Napoca,

Wincon 29.9 mil. € Wincon is a design & build Bogdan Irsik,
construction company. Its portfolio
includes Record Park in Cluj -
Werner Irsik
Napoca, various retail stores, Founders
production facilities, logistic &
industrial developments, stadiums.
*Source: BUCHAREST REAL ESTATE CLUB, official 2020 financial reports
103
BREC TALKS:
ADRIAN DUMA, CORAL GROUP

IN THE LONG TERM, THINGS WILL GO
BACK TO BUSINESS AS USUAL
We should look at the effects of the Covid - 19 pandemic from two perspectives, says Adrian Duma, CEO of
Coral, a group of companies involved in Asset, Property, Facility Management and Construction Consultancy.
In the short term, he says, the pandemic created a certain level of unpredictability, as it had no precedent in the
recent history. People and companies didn’t know how to react and in some cases, they took a step back and
evaluated the situation more carefully. As a result, some projects were postponed or even stopped. In the long
term, things will go back to business as usual, with Key business differentiator
some additional measures regarding the health and Stability and responsibility are among our core
well-being of the employees and/or end users of the values. Along almost 30 years of experience in the
real estate projects. Romanian real estate market, we learned our lessons
and grew a healthy organization that delivers at the
Business adjustment to the post pandemic market highest quality standards.
The last year was all about flexibility and finding the We are constantly investing in people and technolo-
best solutions in terms of efficiency and safety. All of gy, so that our procedures are always up to date and
a sudden, we found ourselves in empty buildings, in well implemented by our colleagues, in their specific
the position of keeping them in good conditions, with activity. We are cultivating trust and long-term
a minimum cost. It was a challenge, but I say that we partnerships based on transparency and the commit-
managed to deliver properly and to support our ment that we will always do our best to do a perfect
clients. As for the future, I think that the work from job.
home model has proven to be inefficient and follow-
ing this conclusion, more companies will start to Vision on sustainability
bring business back where it belongs, in the office. It is vital that, collectively, we work on developing
systems of change that are friendly to the environ-
Making a difference ment. The FM software we are developing is part of
We are doing the best we can in all our projects. The our sustainability plan, as it allows us to reduce our
pandemic brought to the surface some new aspects paper consumption with up to 90%, as all the data
of the facility management industry and we started to will be registered and stored in digital form. More
deal with them and to find proper solutions. Every- than that, this year we plan to support some initia-
day, along with my colleagues, we are improving our tives meant to contribute to a safe and healthy future.
methods and looking for new ways of bringing
added - value for the properties we manage.
Adrian Duma started his career as a civil engineer
Business plans for 2021-2022 who, in 1992 founded the first company of the Coral
We are currently going through a period of healthy Companies group, Coral Construct in the sector of
consolidation. We have a strong team that is working general contracting. After a few years and some
hard on enhancing the operational work - flow, our successful projects, the need of what meant the early
procedures and methods. More than that, in the fall stages of the Romanian facility management industry
of 2020, we started the development of our own FM was identified and the main focus shifted from
software, which will bring to the local market some execution to operating, maintaining and managing
new and very useful features. the new properties that started to appear.
In the early 2000s, the services portfolio was extend-
Also, it will contribute to our constant efforts of ed with two new organizations - Coral DA Consulting
improving our work and deliver the best services on and Coral CA Construct, providing professional
the market. We are confident that the platform will be consultancy services in the construction sector,
ready for implementation starting this summer. experienced site inspection teams and support with
the permitting and hand-over protocols.
105
BREC TALKS:
SINZIANA BARBIERU,
ONV LAW:
CHANGING THE GAME
WITH NZEB
The construction sector registered an upward trend
in 2020 and certain legislative measures were also
adopted in the last year, with a positive impact on
the construction sector, which will contribute to its
growth in the post-pandemic period, says Sinziana
Barbieru, Partner at ONV LAW. The law firm, special-
ized in Public Procurement, Utilities and Construc-
tions, comments on the post-pandemic real estate
market and the legal framework impacting the
sector.
The local post-pandemic real estate & constructions and content of the authorization documentation depend-
market. Our clients have been developing various devel- ing on complexity and impact of the project, the reduction
opment projects (residential, office buildings / hotels / of approval issuing deadlines, the simplification of the
shopping malls / hypermarkets, energy efficiency building number of approvals and agreements, as well as the
renovations), as well as urban infrastructure works. increase in the number of public administration specialists,
An element with an important impact on the construction who will be able to efficiently manage the administrative
sector is the significant increase last year of the prices procedures. Also, the elaboration of the updated General
of construction raw materials, which will reflect in the Urban Plan of Bucharest will bring more clarity and
sale price of residential buildings and which has also predictability in the real estate sector.
affected the companies which perform public works
contracts. Relevance of nZEB Standard
In terms of legislation, starting with January 2021,the tax As adopted in the local legislation, all buildings for
facilities in force in the construction field are not which the acceptance at the end of works is carried out
limited anymore to incomes based on individual labor on the basis of a building permit issued after 31
contracts, but are also applicable to all salary incomes December 2020 must comply with the nZEB standard.
and assimilated salary incomes in construction, such as The Nearly Zero-Energy Building (nZEB) implies a very
management contracts. Also, the approval of the "New high energy performance which should be covered to an
House" program, where the upper limit was increased extent of at least 30% from renewable sources, including
from 70.000 EUR to 140.000 EUR, with 5% VAT, boosted sources produced on-site or nearby. The technologies that
the demand for residential buildings. are used for complying with this standard result in higher
investment costs when compared to the previous energy
The future of business = Transformation performance requirements. These additional investment
For many companies, the key element to last year was costs and also the increase in the price of construction
resilience. Given that in the current context the entrepre- materials will be reflected in a substantial increase in the
neurs` mindset is oriented towards transformation, M&As sale price or rental price of the building erected according
or business restructuring, we have developed a new to the new nZEB standard.
advisory segment, in partnership with Arthur Hunt Roma-
nia, by which we support our clients in the processes of Latest amendments in Construction Law
restructuring, improvement and transformation of • Possibility to register at the Land Registry Office of
companies. In the short and medium term, we aim to buildings erected without building permit
develop a range of related practice areas, such as energy • Acceptance upon completion of works simultaneously
and environment. with the acceptance upon completion of the connections
to public utility networks
What should change in the construction law • Interdiction to bring into use the residential buildings
The most relevant and salutary changes in construction before the acceptance upon completion of works and the
legislation are to be achieved by adopting the Territorial commissioning of the connections to public utility
Planning, Urbanism and Construction Code, which is networks
currently being elaborated. The expected changes include • Inclusion of the construction advisors in the category of
the differentiated treatment of the authorization process the involved factors that are responsible for the quality in
constructions
BREC TALKS:
CLAUDIU BISNEL,
BRISK GROUP
EXPANDING PM
CONSULTANCY
FROM BUCHAREST
TO LONDON AND
CHISINAU
Brisk Group, one of the leading companies What makes a difference in your business?
specialized in Project, Cost & Construction In a field where the present fights the past, Brisk
Management Consultancy Services in Romania, Group chose a completely different side. It chose the
reported a 2 mil. Euros turnover, in consultancy fees, future! I really think that excellence is not an act, but
in 2020. With over 25 new projects signed in 2020, a habit. This is how ideas at Brisk Group come to life,
both locally and internationally and portfolio because we love to build unique projects and
projects such as Central District 4 Elemente manage successful partnerships, says Claudiu Bisnel.
(Bucharest), Luxuria Domenii Residence (Bucharest),
Greenfield Residence (Bucharest), Heathrow Airport Brisk Group consists of over 60 highly qualified
or Hinkley Point Nuclear Power Station, the future specialists, offering integrated solutions capable of
looks promising for Claudiu Bisnel, Partner & guaranteeing the quality of each process as well as that
Founder Brisk Group. of the entire project. We are a leading Romanian
construction consultancy offering project, cost and
What is your business outlook for 2021? construction management services, with offices in
With over 25 new high profile projects signed in 2020, Bucharest, London and Chisinau.
both locally and internationally, including residential,
retail, office, health, industrial and educational projects, Brisk Group portfolio includes projects such as Central
Brisk Group is one of the leading Project, Cost and District 4 Elemente, Luxuria Domenii Residence, Central
Construction Management Consultancies in Romania. District Viitorului 134, APP Town Residence, Greenfield
While Brisk Group is delivering projects all across Residence (Bucharest), over 20 projects from retail
Romania, with strong presence in cities as Timisoara, sector delivered both in Romania and Republic of
Moldova, Heathrow Airport, Hinkley Point Nuclear
Constanta, Brasov to name a few, and also
Power Station or Carmistin Farms.
internationally in countries as Republic of Moldova and
United Kingdom, in 2021 in the first quarter (Q1) we
have secured over 10 new projects both locally and
internationally, being the fastest growing consultancy in As a member of the Association for Project
Romania. Management UK (APM UK), Claudiu Bisnel has been, for
over 15 years, active in the development and
We are keen on adding value to our Clients and construction field, reporting success in defining and
Partners and their projects with our services through delivering construction projects and capital investments
well-established planned, controlled, sustainable and on the real estate market. Brisk Group was founded in
innovative processes. 2016 and it is today one of the most successful
construction consultancies in Romania.
107
CORA CRISTESCU
A MOVER & SHAKER

IN FACILITY
MANAGEMENT
Profile:
CEO, Atalian Romania
Portfolio size of Atalian Romania:

1.8 M sqm
Experience:
More than 20 years' experience in
management, business development &
operations
In 2010, Cora Cristescu joined MT&T Property

Management, one of the top FM company in Romania, Key achievements:
as responsible of developing a solid operational team. • 100% digital. Since 2018, the company digitized
In less than 1 year, she found herself leading the all operations, by developing an own CAFM (Com-
Operational Department of the company, comprising puter-Aided Facility Management) software, an
more than 100 people. unique integrated platform awarded by various FM
association in Romania.
After Atalian acquired MT&T in 2016, together with
her team managing Atalian Romania, she completely • Strong brand. Atalian succeeded to create a
changed Atalian’s image in both local and regional powerful brand in Romania, a long process of
FM markets and reached a total 1.8 M sqm portfolio, switching from MT&T to Atalian.
as well as she managed to expand business
regionally. • Portfolio growth up to 1.8 M sqm., which gave
the company a boost of 20% increase in revenues.
Before 2010, she worked almost 10 years in the FMCG
sector for one of the biggest distribution company in • Regional expanding. Atalian entered in new
Romania - Interbrands, having different responsibilities regional markets, as Cluj-Napoca and Brasov.
in human resources and operational departments. “In
Interbrands, I have lived my adolescence in business, • New business lines. Alongside the Facility Man-
and in MT&T – Atalian, my maturity. I enjoy every step on agement, which is the company’s engine, Atalian
this road and I have a great team with whom I love to successfully developed other businesses: Property
keep walking on,” says Cora Cristescu. Management, Project Management and Corporate
Services.
“Our short and medium-term mission is not to

be the biggest, but to be unique. In addition,
we also have a duty to put our shoulder in the
development of the Romanian society and
economy, through education, innovation and Contact:
CSR.” +40 212 315 200 | [email protected]

PROPERTY & FACILITY MANAGEMENT
Company Segment Turnover Portfolio / buildings Key People
BSS - Building Property & 18.8 mil € 3.5 mil. sqm Paul Constantin Dragoiu
Support Services Facility Management General Manager
ATALIAN Romania Property & Facility 8 mil. € 1.8 mil. sqm Cora Cristescu
Management CEO
EFMS Property & Facility 6.6 mil. € 1 mil. sqm Dragos Moisa
Exclusive Management Facility Founder
Management
Services
RUSTLER Property & 5.3 mil. € 1.5 mil. sqm Daniel State
Property Facility Management Managing Director
Services Romania
Archibus Property & 1.8 mil. € 3 mil. sqm Tudor Trita

Solution Center Facility Management CEO
PROXIMUS Property & 157.000 € 238.300 sqm Alina Militaru

PROPERTY Facility Management Operations Director
MANAGEMENT
12
109
DRAGOS & OFELIA MOISA

EFMS - EXCLUSIVE
FACILITY MANAGEMENT SERVICES
Dragos and Ofelia Moisa are co-founders of family business EFMS - Exclusive Facility Management Services, a
company that has been operating on the Romanian market for 14 years and offers technical maintenance and
professional cleaning services for approx. 1 million sqm across Romania.
The company covers all regions of Romania and employs over 700 permanent employees.
In 2020, the company invested about 1 million EUR, intending to maintain a similar figure for 2021, with focus on
digitization and technology - aspects enhancing clients access to the company services.
„EFMS aims to focus more on expanding the service administration of residential buildings. In addition, last
year we launched a new business aimed at individual consumers called Helppy, which grew in 2020.
10-12% is the minimum increase we set out to achieve in 2021.”
DANIEL STATE
ALWAYS REACHABLE
AND OPEN - MINDED
Profile:
Managing Partner, Rustler Romania
Rustler Romania turnover:

€ 5.3 mil.
Experience:
Since 2012, Daniel State is managing Rustler's while providing a full range of facilities & property
subsidiary in Romania. Experienced as Civil Engineer services, advising on all relevant legal, technical
in planning, execution and project management, he and commercial issues. Due to the company’s
enjoys involving in very precise topics with his team of development, Rustler Property Services Romania is
over 150 people. an important pillar of Rustler Gruppe, today.
Dedicated, enthusiastic and perseverant, Daniel The national coverage, internalization of technical
motivates and leads his colleagues to reach his specialized competencies and supply of services on
ambitious plans in establishing a standard in Property various properties type – from office, commercial,
and Facility Management services in Romania. He industrial & logistic to hospitals – together with the
believes that performing in a field where adaptability, alignment of company’s vision to the local market
finding solutions for various situations, as well as are the key milestones.
increased decision-making capacity are the key
competencies. In this way, the focus is always on the Contact:
main objectives of the company. [email protected]
‘Always be in touch, be reachable and open-minded,

we work together!’ is the personal slogan he uses to
empower his team and gives them confidence to
understand and value his vision.
Rustler Romania, part of Rustler Gruppe – with over

85 years’ experience in Real Estate on the
European Market, is defined/recognized by
strengthening trust and standing on procedures
111
ALINA MILITARU
OPERATIONS
DIRECTOR, PROXIMUS
PROPERTY
MANAGEMENT
Alina Militaru joined Proximus Poperty Management In line with the new context, the company is emphasiz-
team in November 2020. She is qualified as a Project ing the digitalization of Property Management
Manager after graduated the PMI courses in 2015 and services and the development and use of applications
Facility Management course graduated in 2012 at TU that facilitate communication and addressing indus-
Wien (Technical University of Wien). try-specific issues. Proximus collaborates with Roma-
nian start-ups in this area, in order to support the
Romanian business, but also for the possibility to
Proximus Property Management is SPEEDWELL create customized applications. In the financial back
Group`s property & facility management services office area the company works with an IT company
company, which focuses on property and facility from Campina, while for the ticketing and community
management services, both for institutional investors management they have a partnership with an IT
as well as real estate developers. The company company from Bucharest. “We opt for custom made
administers a diverse portfolio of large - scale projects applications because they manage to process a large
like Militari Shopping Center, Victoria Park, West Park, volume of data/information, being also user friendly
Fashion House Outlet Center. for the final customer,” Alina Militaru says.
The company also ensures property management &

facility services for SPEEDWELL projects - such as
RecordPark, Triama Residence and MIRO Office.
Proximus manages a total of more than 230.000 sqm
sqm in the office, residential, retail and logistics
segments.
“By the end of 2021, we estimate the increase of

the portfolio by another approximately 25.000
sqm on the office segment and approximately
10.000 sqm on the residential segment.”
113
PROPTECH
115
THE MAVERS:
DEVELOPING A
PROPTECH WEALTH
MANAGEMENT FUND
Alexandru Boghiu & Radu Gogoasa

Co-Founders, The Mavers
Experience:
Over 10 years in tech & real estate
A graduate of the Academy of Economic Studies € 2 million assets under management. Proptech &
and with a CIMA qualification, Alexandru Boghiu real estate investments
holds more than 10 years of experience in digital
real estate. Together with Radu Gogoasa, he is the “We have € 2 million assets under management and
co-founder of The Mavers, a disruptive proptech we have also developed high-yield investment prod-
platform not only in Romania but across geogra- ucts, based on data science and machine learning
phies. algorithms,” Alex Boghiu says.
The Mavers has investments in Bright Spaces, Nooka
Radu Gogoasa brings the experience of investing Space and Sigtree, blockchain-based projects and
in startups from London to Bucharest, his knowl- international company stocks, as well as looking at
edge being in product development. With skills at promising real estate developments.
the convergence between real estate and technolo-
gy, Alex and Radu aim to increase the innovation Scouting new proptech startups for investment
potential of real estate companies through the help We target € 5 million assets under management until
of data and the latest technologies. the end of 2021, scouting new proptech startups for
investments and optimizing the risk-reward curve of
The Mavers was incorporated in September 2020, high yield investment products.
with the objective of developing a data science
platform for market reports for the Romanian Real People have been talking about the impact of
Estate industry. However, we soon realized the poten- technology in real estate for some time now. The
tial of our product and decided to keep it for internal difference on the market will be made by start-ups
use only and it became the basis of a wealth manage- that will be able to develop technologies that save
ment fund focused on PropTech and Real Estate as time and costs through process digitalization and
the core pillars of the company. automation within the company, The Mavers found-
ers conclude.
Having the knowledge and experience in the Real
Estate Tech and Investment, the two founders - Alex Contact:
and Radu are looking to develop a local asset man- [email protected] | radu.gogoasa@themav-
agement company focused on the Real Estate ecosys- ers.com
tem – PropTech Startups, High Yield Products and
Portfolio Management.
BOGDAN NICOARA
TURNING TECH
PASSION INTO
DISRUPTIVE BUSINESS
Profile:
Co-founder & CEO, Bright Spaces
Experience:
13 years of experience in tech
Bogdan Nicoara is an entrepreneur with 13 years of other clients from Romania and the UK were onboarded
experience in tech. In 2019, he co-founded and – One United Properties, Vox Technology Park, Impact
became the CEO of Bright Spaces, the end-to-end Hub Bucharest, Moorland Property Solutions Ltd.
digital leasing solution for commercial properties.
Bright Spaces was one of the 5 startups participating
in the 2020 PiLabs accelerator and already has impor- 2021 & 2022 is the seed stage for Bright Spaces.
tant clients in Romania and the UK. This means we will finish our second funding round
(Seed) with Western European partners and we will
The idea behind Bright Spaces got validated rapidly – start using these resources to take the company to
the company won the first Real Estate Hackathon in the next level.
Romania organized by Proptech Romania in April
2019. The platform was voted No. 1 at the Proptech We aim at reaching the product market fit stage
Demo Day by various investors from all over Romania early next year, while focusing on the European
and in November 2019, Bright Spaces won the 1st market and the UK.
place in the Leasing category & 3rd place overall at
Skanska Proptech Hackathon.
Bright Spaces got a 185.000 EUR investment in Contact:

November 2019, from investors such as Sparking [email protected]
Capital, Growceanu Angel Investment, Ilinca Paun.
“We started generating revenues last year and now we

are already managing with our platform more than
350.000 sqm of office space in buildings worth more
than € 350M,” Bogdan Nicoara says.
Bright Spaces signed the first contract in 2020 and

launched the first live platform together with Skanska
Romania for their Equilibrium project. Subsequent,
117
SHEILA (GIAFER)
IONESCU
Profile:
CEO, The One
2021 investments:
€ 4 mil.
Experience:
15 years on the real estate market
Sheila (Giafer) Ionescu is CEO of The One, the first “Starting few years back, two vastly different
Office Hospitality center on the Romanian market and worlds, the one of hospitality and the corporate
is known as one of the most efficient and business real estate have both witnessed an incredible
driven managers on the Romanian real estate market. transformation. Two different worlds, driven by the
change in demographics, new technologies and
With a 3.500 sqm area, The One is located at the top the permanent need for flexibility, met.
floors (16 & 16S) and at the 6th floor of One Tower –
the newest office building in Floreasca area, offering The traditional approach of the asset management,
its members a creative and relaxed approach toward a office leasing and the real estate related services
working day: lounge, sky bar, fully functional confer- has shifted to accommodate the new waves of
ence rooms, concierge services, business and private mobility needs.”
events spaces, offices & working areas, meeting
rooms with numerous functionalities, golf room &
classes.
The One proposes a series of multifunctional spaces,
This first center will be opened in One Tower, the which can host conferences and events up to 300
building which is part of One Floreasca City develop- participants, meetings and trainings between 30-100
ment, Romania’s first mixed sustainable development. persons, high-end office areas available for lease on
The office tower holds the best performing LEED short and medium term, offering its members access
pre-certification on the Romanian market, LEED v4 to diverse premium facilities such as concierge, sky
Core & Shell at Platinum level and is ready to be WELL bar or golf room.
HEALTH AND SAFETY certified, being one of the first
healthy buildings in Romania. Built in Floreasca area, The One will be inaugurated following a € 4 million
One Tower offers tenants the highest standards in investment, which belongs to a consortium of private
terms of office spaces, with a focus on increased investors, managed by Sheila (Giafer) Ionescu, a
comfort at work, but also direct access to Floreasca highly skilled professional with 15 years expertise on
Park, as well as a variety of restaurants, cafes, concept real estate market, whose name is related to compa-
stores. nies such as Ernst & Young, Knight Frank and Green
Gate Development.
www.verbio.ro
VLAD COSTEA,
SIGTREE PROPTECH:
5 NEW EUROPEAN
MARKETS BY THE
END OF 2022
A graduate of the Faculty of Electronics
Telecommunication and Information Technology,
Vlad Costea has spent over ten years in IT&C when
he decided to start an entrepreneurial initiative,
with a purpose to build and offer a product aligned
with modern needs of automation and flexibility.
He is the Co-Founder of Sigtree Technologies, a
platform used in 25 office buildings and around
1.000 apartments. The platform represents a
marketplace of validated products and services,
branded for each individual real-estate developer,
which improves the engagement with their
customer base.
SIGTREE STORY FROM THE SCRATCH RAISING GROWTH CAPITAL & EUROPEAN
Until the end of 2017 I’ve worked for a large EXPANSION PLANS
multi-national corporation in the Telecom industry.
During this time, I was involved in a lot of activities After the pandemic hit, our IoT product became a
which included customer engagement, product really difficult sell, especially as it was intended mostly
management, operational processes in close for the external markets. We have managed to create
collaboration with both sales and R&D departments. a spin-off and build a new customer base.
Now we serve more than 25 office buildings and
In 2018, I have decided to pursue an entrepreneurial 1.000 apartments, with amazing feedback from both
initiative in the IoT ecosystem. Along with 3 other our customers and the end-users. We are also in
colleagues we have built an IoT integration platform discussion with various investors to raise growth
for various devices and systems. In 2019, we created a capital that will allow us to expand in other European
Residential Community Management concept, where markets. Currently our platform is used in 25 office
devices that monitor homes or buildings could buildings and around 1.000 apartment units. We are
interact directly with professional services providers. currently in the process of raising a seed investment,
Now, in 2021, this option is a secondary commercial that will allow us to execute on our growth plans,
proposal, while we decided during the pandemic to which include launching in 5 new European markets.
propose our Community Engagement Platform as a
software product directly to the real-estate “By the end of 2022 we plan to expand to 5 new
developers. Tenants can now send requests or European markets and serve over 20.000
complaints to the developer immediately after the apartments and more than 100 office buildings
pre-contract. They can also access tailored offers for through our Tenant Engagement Platform,” the
different services providers, that help them to have a Sigtree founder says.
pleasant moving experience at reduced costs.
Contact:
In a nutshell, we now propose a marketplace of
validated products and services, branded for each [email protected] | +40 745.638.340
individual real-estate developer, that improves the
engagement with their customer base.
119
ARCHITECTURE & INTERIOR DESIGN

121
Profile:
Founders, ADNBA (Architecture)
Investment value of ADNBA current projects:

€ 265 million
Experience:
18 years in architecture & design
ANDREI SERBESCU & ADRIAN UNTARU

GOING ABROAD
ADNBA was established in 2003 in Bucharest, by Andrei Serbescu and Adrian Untaru, later joined by Bogdan
Bradateanu and Esenghiul Abdul. With 18 years of experience, ADNBA functions today as one core team of
professionals with various backgrounds and skills, always searching for the right balance between experiment
and experience in developing the best design solution for each project.
The practice is currently involved in a diversified body of work, including residential offices or public
buildings. In addition, the practice has achieved critical recognition both locally and internationally
through professional awards such as the EU Mies Award, the World of Architecture Festival Awards, or
the Romanian Architecture Biennale.
The company has recently completed a series of NEW CONCEPTS

large-scale residential developments such as Aviatiei
Park by Forte Partners, featuring 4 apartment build- We have seen a significant shift in the Romanian real
ings in the Northern Area of Bucharest and ISHO A, a estate market towards mixed-use developments,
20-storey mixed use residential tower ideally located which bring together residential, office and retail
in Timisoara city center, a part of ISHO development. spaces as well as leisure, sports facilities and shared
In addition, construction is underway for Avalon Estate amenities. We believe this kind of large-scale,
(by Prime Kapital), a development in Pipera neighbor- integrated projects (such as ISHO A or Avalon Estate)
hood that will include 880 residential units of various provides a better quality of living and represent a
types and sizes and for Marmura Residence (Prime move in the right direction towards a more coherent
Kapital), a project containing 466 urban apartments and sustainable urban environment.
and shared spaces. On the office development
market, Sector 0 (by Forte Partners), comprising 2 Moreover, the diverse array of functions complement
office buildings in Bucharest’s city center, is currently each other and have the potential of creating a vibrant
under construction, with Tandem Building taking urban life in tune with the aspirations of today’s city
shape close to Victoriei Avenue and with Millo Offices dwellers. On the other hand, we’ve noticed a more
nearing completion, together adding more than efficient use of the city center, through the insertion of
26.000 square meters of premium space to Bucha- functions such as retail and office that create a certain
rest’s office market. kind of density (as is the case with Sector 0), which in
turn drives the development and revitalization of
central areas.
“Over the next 2 years, ADNBA plans on consoli-
dating its position on the real estate market, with a THE NEW WORKSPACE AFTER THE OFFICE COME-
strong focus on the residential sector, an area BACK
where the company holds significant expertise.
We do not believe the pandemic will significantly
In addition, we look at exploring the potential of impact how we design spaces and programs since
the German market through our Berlin-based architecture has a long lifespan and a certain
division ADNDE, an exciting new chapter of com- resilience to short term disruptions, as we hope is the
pany growth. case with this health crisis. However, we witness
notable changes in the way we work and communi-
Finally, with an extensive set of skills concerning cate because of technology. Moreover, there seems to
BIM, the company wishes to further expand its be a shift within the workforce towards more techno-
scope with the incorporation of additional services. logically advanced areas of employment, such as the
Currently, the company offers BIM modelling IT and medical sector, to the detriment of manufactur-
design services to German architecture practices ing industries.
and MEP businesses,” ADNBA founders say.
These transformations are consequential to the urban
The investment value of ADNBA’s current projects environment, changing not only the functional land-
exceeds € 265 million, with 20% of the portfolio scape, with more and more industrial areas converted
dedicated to office projects and 80% to residential into housing and office developments, but also
developments. altering traffic and commute within the city. In this
sense, we see the pandemic as the catalyst for chang-
es already underway rather than the root of future
transformations.
Contact:
“WE SEE THE PANDEMIC AS THE [email protected] | [email protected]
CATALYST FOR CHANGES ALREADY

UNDERWAY”
ADNBA is one of the prominent architecture and
design company on the Romanian market. Over the
last 3 years, the firm has reached a turnover of € 5
million. After a turnover drop in 2020, as several
projects were frozen due to the lockdown and the
sanitary restrictions, the company is now seeing most
of its projects back on track, planning to surpass the
pre-pandemic level by 2022, ADNBA representatives
say.
AVIATIEI PARK/ Copyright Cosmin Dragomir 123
Profile:
Founders, Lemon Interior Design & Lemon
Office Design
Turnover (2020):
€ 4 mil.
Experience:
14 years in interior design
CRISTINA CAPITANU & ELENA OANCEA

THE FINE ART OF DESIGNING
THE NEW LIVING & WORKING
The story of Lemon Interior Design began in 2007, when Cristina Capitanu together with her sister Elena
Oancea bought a chain of stores that sold, at that time, small decorations and interior furniture, thus taking the
first steps in retail.
The business, Lemon Interior Design, would be transformed into a company specialized in the management of
interior design and furniture projects for both real estate developers and homeowners, starting with 2013.
Thus, Lemon Interior Design has become one of the pioneers of the interior design market in the country,
having in their portfolio some sound projects such as One Herastrau Park, One Charles de Gaulle, One Mircea
Eliade or One Tower.
In 2019 the two entrepreneurs started a new The concepts of Lemon Design stand out by a differ-
division, Lemon Office Design also addressing the ent perspective on interiors through original design,
office segment, with a new, fresh approach on a fine lines, quality and a timeless touch. With an
market dominated by cold, Scandinavian design. increased interest in details, Lemon Interior Design
One North Gate, One Tower or Tiriac Center are team of specialists always creates a personalized
just some of their recent works. interior adapted to the individuality of each client,
organically mixing the space with the design, social
and personal components of each beneficiary.
“The lifestyle in Bucharest is an active and cosmo-
politan one and on the high-end residential area With a turnover of € 4 million in 2020, Cristina Capita-
where we operate, design means more than the nu and Elena Oancea estimate an increase of approxi-
fit-out of a living space, it is a true concept that mately 20% for 2021, given the portfolio of contracts
incorporates cultural and lifestyle elements. secured early 2021.
On the office segment we used the lessons learnt
from residential and we proposed an adaption of
the workspaces to the new norms, incorporating
elements that are specific to residential, in order to
increase the employees’ comfort.”
125
DANIEL STATE
CATALINA MAZERSCHI
ALWAYS REACHABLE
FACELIFTING
AND OPEN - MINDED
INTERIORS WITH
GLAMOUR DESIGN
Profile:
Managing Partner, Rustler Romania
Profile: Romania turnover:
Rustler
€Owner,
5.3 mil.Glamour Design | Diseno
Company turnover (2020):

Experience:
€ 5 mil.
Since 2012, Daniel State is managing Rustler's while providing a full range of facilities & property
Romanian
subsidiaryentrepreneur Catalina Mazerschi
in Romania. Experienced founded
as Civil Engineer products areadvising
services, highlighted according
on all relevanttolegal,
trends,technical
offering
in 2008 Glamour Design (which operates Diseno customers inspiration and possibilities to combine
in planning, execution and project management, he and commercial issues. Due to the company’s
showrooms), a business focused on providing design them at will and according to the recommendations of
enjoys involving
solutions in veryproducts
with premium precise topics with his team of
and complete development, Rustler Property Services Romania is
professionals.
over 150 people.
pre-design, sale and after-sale services. an important pillar of Rustler Gruppe, today.
“The pandemic made people relate differently to
InDedicated,
13 years ofenthusiastic
activity, theand perseverant,
company grew toDaniel
a turnover Theown
their national
homes,coverage, internalization
given that we have been ofliving,
technical
of 5 million and
motivates EURleads
and 3hisshowrooms
colleagues in to
Bucharest
reach his working and relaxing
specialized in our own
competencies and home
supplyfor ofover a
services on
(Averescu,
ambitiousDorobanti & Pipera). a standard in Property
plans in establishing year.
various properties type – from office, commercial,
and Facility Management services in Romania. He industrial & logistic to hospitals – together with the
After a year
believes in performing
that which people in have
a fieldspent
where more time
adaptability, In alignment
the high-end segment, the
of company’s trendtoisthe
vision for local
bath-market
than ever inside their homes, Diseño is adapting and rooms to be enriched with decorative pieces such
finding solutions
meeting for various
new demands. situations,
The wide range of ascollections
well as asare the key
mosaic milestones.
paintings, or lighting fixtures with a
increased decision-making capacity are
allows arrangements in simple, minimalist lines, the keyin strong identity, while for sanitary objects there is a
competencies.
sober tones and In this way,
matte the focus
textures, is always on the
of a discreet Contact: for fluid, organic forms, which give the
predilection
main objectives
elegance, as well of
as the company.design, strong
an exuberant [email protected]
space a plus of relaxation.”
shades, glossy materials and luxury glam objects.
International
‘Always be indesign
touch,trends can be found
be reachable in the
and open-minded,
showroom through the proposed environments.
we work together!’ is the personal slogan he uses Theto Contact:
empower his team and gives them confidence to [email protected]
understand and value his vision.
Rustler Romania, part of Rustler Gruppe – with over

85 years’ experience in Real Estate on the
European Market, is defined/recognized by
strengthening trust and standing on procedures
DRAGOS BONEA
ONE STEP FURTHER

IN RESIDENTIAL
Profile:
Founder, Delta Studio
Delta Studio turnover:

€ 20 mil.
Experience:
25 years in construction & real estate
Dragos Bonea is the founder and general manager of designer Karim Rashid for one of Delta Studio’s collec-
Delta Studio, a company that started originally in tion in 2020 and investment in a new line of business,
1996, by selling ceramic tiles for interior fitting real estate development.
designs. Dragos has professionally refocused, taking
the path of entrepreneurship, after he identified an “We have decided to enter the residential market
opportunity for an unexploited niche of the market. At with a € 3 million investment in a premium villas
the time in question, certain imports of ceramic tiles development, in Corbeanca. Vernis Compond will
were extremely limited, bringing to the market a small comprise 24 houses on a 10.000 sqm plot.
offer, compared to the demand, without a large
palette of color or size portfolios. Designed as a gated community project, the
residents will benefit from a leisure center, a swim-
A graduate of the Aircraft Faculty, within the Polytech- ming pool and a fitness center. The concept propos-
nic University of Bucharest, he also holds a master’s es alongside all the comfort of a home numerous
degree within the Faculty of Management, SNSPA, in facilities and amenities for a modern lifestyle.“
Bucharest.
The company headed by Dragos evolved and adapt-

ed permanently over the time. Currently, Delta Studio
operates a platform of work solutions, supported by a
professional community in the architecture, interior
design and construction fields. However, the company
markets a large portfolio of products, dedicated to
interior decorating, both through its own shops
network, available in the main cities of the country, but
also online.
Some of his key achievements in the last years include

the improvement of the online sales platform and
automation ERP logistics system, following a €
300.000 investment, the collaboration with renowned
127
BREC TALKS
ALIN GHENEA, PROJECT1:

IT IS ALL ABOUT CHOICE AND FLEXIBILITY
IN THE POST-PANDEMIC WORLD
The office footprint itself will be smaller, but we will have a more distributed space, decentralized. Even in
2019, one of the trends that emerged was for all the employees to identify how they could have a good quality
of life, in the major cities, where the office buildings are located.
At the same time, the digital culture that was shaping at that time has created the perfect canvas for the forced
digitalization that started in spring 2020 and continues today at a similarly fast pace. This flexibility in terms of
spaces and workplaces has been complemented by the motivation of management to encourage development
from a talent perspective. That is why even before the

pandemic the real estate was considering distributed
functions. It is all about choice and flexibility in the
post-pandemic world, says Alin Ghinea, Commercial
Director of Project1, a general contractor specialized
in the construction and design of office spaces for
multinational companies.
Adjusting to post-pandemic market changes

Our team has the choice to work in the office, to work
from home, or to work from a third place at their
choice. We can also work from all three, at any given
time depending on what we are doing, our schedule
and priorities. Transformation is happening already,
due to the development of the communication
technology, as you can let people decide where they
feel safe, where they will get the most value and
where they will best work. Digitalization is supporting
their choice.
Business plans for 2021-2022 The sales team has unlimited access to the systems
The biggest directions of improvement that we are and processes that top performing sales
marking in this period and in the next year are professionals are using to separate themselves from
digitalization, expanding the line of services for the rest. Winning new customers, growing the ones
customers in as many fields and last but not least, they have and differentiating themselves from the
focusing on trends, technologies and news in the competition allows them to be rewarded with repeat
field, anything can help us to be up to date and more business and long-term clients.
efficient. Our sales team have visited more than 50
companies in 2021, also focusing on universities and As a manager, I am happy to lead a team of
startups, as indicators of the future in the area of professionals guided by Project1 values including
research. Since last year, we started to expand our ownership and trust and commitment. Although from
services to the industrial and residential areas, in a distance it may seem a static field, the truth is that
addition to the services for office spaces. every week new technologies, new solutions, new
In 2022, Project1’s approach will be improve the products appear, which make our work always
quality of offices and public spaces through the exciting and competitive. The importance of a
power of design and new technical solutions, by close-knit team, in which you can trust both as a
serving our Clients in a manner that reflects the colleague and as a client, is immeasurable.
results of our observations of trends, market analyses
and business cases.
Top 3 projects:
The role of tech in creative workplace
• CTP Club House
environments
Most of the organizations are in pre-game warm-ups, • CITR hub
so they are still figuring it out. The next thing is all • Hotspot Workhub
about human psychology and also about
organizational psychology, how do behaviors shape
the functionalities and layout of a space.
Technology (conference calls, room booking
software, informal meeting rooms, etc.) can allow us
to think more about the human experience, hence
where people are in their stage of life, what they
need at the moment and how can we help them to be
productive and creative.
What matters most

Building a winning culture in our business was a
priority from the start. We aimed to create an
environment where everybody is excited to be
working at Project1. We enjoy a competitive,
sustainable advantage.
129
OCTAVIAN
MOROIANU
HIGHER STANDARDS
Profile:
Managing Partner, Decor Floor CEE
Company turnover:
€ 10 million
Experience:
15 years in real estate & construction
Octavian Moroianu joined Decor Floor in 2009, as development process of a 100% internally created
Sales Manager and thanks to the delivered results he ERP/CRM software. Today, the software allows the entire
shortly became a shareholder for Decor Floor Decor Floor team to access all relevant documents and
Romania. With a vision aligned to the highest statuses of their projects, thus acting like a tool for the
standards and expectations of both local companies project management process. The in-house IT team
as well as corporations on the local market, he works at launching a version specially tailored for the
manages to constantly achieve outstanding results in company’s business partners.
all undertaken projects.
With the aim to have a wider visibility into the entire
As Managing Partner at Decor Floor, he dedicates all inventory and allow the team to systematically and
his efforts into building a strong business strategy, effectively locate the products, Octavian took a further
marked by an organic growth. In 2016 Decor Floor, step in 2020 and invested in a Warehouse Management
under Octavian’s leadership launched its first System, together with a new warehouse location. All the
showroom in Cluj – Napoca, the maintenance services information that was traditionally maintained as packag-
and the first Sales office in Sofia, Bulgaria. ing lists hard copies, can now be maintained digitally.
The future of Decor Floor, drawn by Octavian in his

business plan, targets launching a new business
“Decor Floor delivered in 2020 more than 150.000 division, the opening of a Sales office in Warsaw and
sqm of raised access floor systems for the most more automation for all processes within the compa-
iconic office buildings in Bucharest, together with ny. The company’s objective for 2021 is to reach a
more than 145.000 sqm of floor finishes, such as turnover of € 15 million - a 50% increase as com-
carpet tiles, vinyl, luxury vinyl tiles, ceramics and pared to 2020.
commercial rubber flooring.
Well adapted to the evolution of market, the company

focuses on the digitalization of its processes. That is
why, in the last 2 years, they accelerated the
dreapta - poze Décor Floor
131
REAL ESTATE PREMIER LEAGUE REAL ESTATE FINANCING
CATALIN JALOBA
Head of Real Estate Finance, BCR
Catalin Jaloba has a solid experience in real estate, having more than 15 years of expertise in fields such as
expansion, development, consultancy and valuation, sales and financing. He has analyzed more than 3.500
properties from retail, office, residential, industrial, land and special destination.
Catalin has the highest professional affiliation in real estate, acting as a member of RICS (Royal Institution of
Charted Surveyors) and as a member of the RICS’s board in Romania.
As of 2017, Catalin Jaloba is Head of Real Estate Finance at BCR, one of the top 3 players in the Romanian
banking system and from this position, he coordinates all real estate financing activities at BCR.
Banca Comerciala Romana (BCR), member of Erste Group, is one of the most important financial groups of
Romania and includes universal bank operations (retail, corporate & investment banking, treasury and capital
markets), as well as specialized companies in the leasing market, private pensions and housing banks.
REAL ESTATE FINANCING BUCHAREST REAL ESTATE CLUB
GABRIELA DRAGULIN
Head of Real Estate Financing, UniCredit Bank
Having worked for more than 8 years in the Risk divisions of UniCredit, Ion Tiriac Commercial Banl and HVB
Bank Romania, Gabriela Dragulin took over the role of Head of Real Estate Financing at UniCredit Bank as of
2009.
From this role, she contributes to the set-up of the business and risk strategy related to real estate financing for
corporate customers, implements bank’s business policy related to the acquisition and maintenance of the
relationship management with corporate customers belonging to real estate market, coordinates the real estate
financing team activity, structures and negotiates complex loan documentation.
UniCredit Bank is one of the largest financial institutions operating in Romania, holding a strong footprint in real
estate financing.

BANKING
Bank Profit / 2020 Key people Role
Banca Transilvania 244 mil. € Romulus Andrei Director, Structured Financing

Bogdan Constantinescu Head of Large Corporate
BRD 194 mil. € Stefan Marinescu Structured Finance

Projects Coordonator -Real Estate
and Corporate Investment
BCR 166 mil. € Catalin Jaloba Head of Real Estate Finance
Raiffeisen Bank 131.5 mil. € Lucian Dumbravianu Head of Pharma & Healthcare,
Telecom and Real Estate
ING Bank 117 mil. € Florin Ilie Deputy CEO,

Head of Wholesale Banking
UniCredit Bank 92.6 mil. € Gabriela Dragulin Head of Real Estate Financing
CEC Bank 61 mil. € Eliza Iordache Head of Corporate Finance
Alpha Bank 21 mil. € Periklis Voulgaris Wholesale Vice President
OTP Bank 4.4 mil. € Dragos Mirica Deputy CEO
133
ADVISORY & LAW FIRMS
135
ALEXANDRU REFF
A CONTRIBUTION TO
THE INFRASTRUCTURE
OF KNOWLEDGE
Profile: Country Managing Partner,

Deloitte Romania & Moldova
Turnover: N/A
Experience:
20 years in business & tax law
Alexandru Reff is the Country Managing Partner of the survey emphasizes that real estate companies need to
professional services firm Deloitte in Romania and create a digital connection with the online consumer,
Moldova, which provides services in audit, tax, legal, as almost half of respondents mentioned that the rise
consulting, financial advisory, risk advisory, business of e-commerce will be a challenge for their business.
processes as well as technology services and other
related services, through more than 2.000 The survey also highlights that the necessity of
professionals. technology usage, including trends like proptech, will
long outlive the COVID-19 pandemic, as 80% of
Alex started his career in Deloitte as an intern in 1997 respondents believe technology to be the first and
and held local and international roles in the Tax and most important capability that needs to be developed
Legal practice. Since 2017, he has been the Country even when the health crisis would have ended.
Managing Partner of Deloitte Romania and Moldova. PropTech, commonly known as an ecosystem of
He is also the founder of Reff & Associates, one of the start-ups and emerging growing companies that offer
largest law firms in Romania and member of the technology-enabled, innovative products and
global Deloitte Legal network. services, emerged as the spearhead of a profound
digital transformation roadmap for commercial real
Over the years, Deloitte has been making an impact estate companies, in an industry that has been slowly
that matters on the Romanian real estate and leveraging technology. The proptech field already
construction market, playing a leading role in the raised over $43 billion in funding worldwide since
successful completion of various real estate projects. 2012, according to Deloitte Real Estate Predictions
In November 2020, Deloitte Romania surveyed 2020 study. The study also emphasizes that the future
executives and board members among Romanian of proptech is promising, considering that the field
commercial real estate owners, developers and has the same funding size as fintech did in 2013, a
investors through an online questionnaire, which sector which registered a growth of 44.8% (CAGR)
focused on the effects of the COVID-19 pandemic since then.
over the industry, the predictions for 2021 and the
issues that companies need to focus in order to thrive Even though the proptech sector it is at the early
in a post-pandemic era. stage in Romania, the COVID-19 pandemic might
have also raised the bar for them, as half of the
The vast majority of respondents stated that the price surveyed respondents believed that this is the proper
(86%) and the occupancy rate (71%) will increase or context for the emergence of new business models,
decrease depending on the type of the commercial including proptech.
property, according to the findings of Deloitte
Romania Commercial Real Estate Survey 2021. The

BIG 4
COMPANY KEY PEOPLE ROLE
DELOITTE Alexandra Smedoiu Real Estate & Construction Industry Leader
ERNST & YOUNG Dan Flesariu Head of Real Estate Transactions
PwC Francesca Postolache Partner, Head of Real Estate Practice
KPMG Ori Efraim Audit & Assurance Partner, Head of Real Estate
LAW FIRMS
LAW FIRM KEY PEOPLE PROJECTS HIGHLIGHT
Biris Goran SPARL Gabriel Biris • One United Properties - acquisition of a 25.800 sqm land from Telekom
Managing Partner in Bucharest; acquisition of North Gate office complex; 20 million euros
bonds issuance through private placement.
Daniela Lazea & Sorin • Hagag Development Europe - various acquisitions in Romania (land,
office, residential) and with all Romanian law aspects of a bond issuance
Aungurenci
on the Israeli capital markets.
Real Estate practice • Assisted Swiss investor Philippe Jacobs and Ibitol Group in the sale of
leaders its flagship office center Coresi Business Park.
• Assisted Global Vision in the joint venture between one of its
companies and an Austrian partner, for the acquisition and development
of a commercial warehousing project near Ljubljana’s airport Brnik.
• Assisted Austrian real estate developer Soravia in the sale of its
flagship office center “Metropolis” to Czech fund PPF.
137
LAW FIRM KEY PEOPLE PROJECTS HIGHLIGHT

Clifford Chance Ioana Talnaru • NEPI Rockcastle on its 3,375% €500 million debut green bonds issue.
Badea Counsel • Kingspan Group on the acquisition of TeraPlast Group’s steel division
in Romania and Serbia.
• AEW in connection with the sale of its Romanian portfolio to the
real estate investment division of Morgan Stanley and, respectively,
Hungarian investment group Indotek.
• CA Immo in relation to the acquisition of Campus 6.1, a premium
office building developed in Bucharest by Skanska.
Filip & Company Ioana Roman • Assisted a leading international project development and construction
Partner, Head of Real company, active in Europe, the US and Latin America, throughout
Estate Practice the development and exit from a LEED Gold certified office project
consisting of 4 buildings of approximately 52.000 sqm leasable area in
northern Bucharest.
• Assisted an UK-based investment fund in relation to various matters
related to the sale of a shopping centre in Sibiu consisting in a retail
park with approximately 80.000 sqm GLA.
• Assisted one of the largest US-based owners, managers and
developers of distribution facilities in the world in relation to the
leasing, development of and exit from a logistic park located near
Bucharest on the A1 highway.
• Assisted one of Europe’s leading home improvement retail groups
and the third largest in the world, with more than 1.000 stores in
ten countries in Europe and Asia, in relation to the acquisition of the
Romanian operations of the second largest DYI chain in Romania.
• Assisted a major property development company from the Czech
Republic in connection with the leasing of and exit from a BREEM
Excellent certified Class A office project located in northern Bucharest,
consisting of approximately 36.000 sqm of leasable area.
Ionescu si Sava Corneliu Vasile Popa • Assisted the local vehicle of an international investment fund in the
Partner, Head of Real successful sale of its industrial park located in Arad to the leader of
Estate Practice industrial parks and logistics in Romania for a multi-million purchase
price.
• Assisting the day-to-day operations of a major developer and opera-
tor of shopping malls located inter alia in Focsani and Bacau, including
the negotiation, modification, signing and performance monitoring of
all related lease agreements.
• Assisting a group of international real estate developers, property
managers and film producers for the acquisition, development and
exploitation of more than 25 ha of land located in the south of Bucha-
rest serving for film studios and cinematic parks, overall project budget
exceeding EUR 30 Mio.
• Assisting local vehicles of Tavistock group, one of UK largest invest-
ment funds, for various sales of real estate properties located in major
cities of Romania (Cluj, Oradea, Craiova, etc.).
• Assisting a major Italian sportsgear manufacturer in selling its non-
core real estate properties located in Popesti Leordeni and in relocating
its production facilities in a different area of Romania, overall project
budget exceeding EUR 12.5 Mio.
Musat & Mona Musat • A leading Spanish real estate developer in connection with various
Associates Partner real estate developments in Bucharest and Cluj, with an investment
value of over EUR 300.000.000.
• An international holding and investment company based in Israel in
connection with the EUR 78.000.000 acquisition of the remaining quota
in one of the biggest real estate projects in Bucharest, consisting of a
shopping mall and five stand-alone office buildings.
• The Europe’s leading savings bank and Spain’s third largest finan-
cial institution in relation to financing various multimillion real estate
acquisition and development projects in Romania, totaling over EUR
200.000.000.
• The Real Estate Development Division of a global financial institution
of Dutch origin in relation to various real estate residential and mixed-
use scheme developments in Romania, exceeding EUR 250.000.000.
NNDKP Ioana Niculeasa • Assisting a leading real estate company with focus on investments in
Real Estate and SEE and CEE, in relation to the acquisition of Skanska first office devel-
Construction Partner opment in Romania Green Court Building A
• Assiting a major international bank in the acquisition of a majority
stake and refinancing of an A class office building of over 22.000 sqm
GLA
• Assisting a full-service commercial real estate developer and manager
in Central Europe, in relation to the acquisition of the fourth largest lo-
gistics park in Romania, Prologis Logistic Park, located nearby Bucharest
• Assisting a leading Israeli real estate developer in the acquisition of
approximately 40.000 sqm plot of land in Brasov from a major French
retailer, with the purpose of developing a mixed use project
Noerr Jörg K Menzer • Represented Doosan IMGB, which owns the IMGB industrial platform
Head CEE Offices with an area of about 54 hectares, in the process of selling 99.92% of
the shares to SIF Banat – Crisana
• Represents a range of investors, developers, retailers and industrial
companies on acquisitions, planning matters and construction projects.
The team is strong on large cross border deals, representing both buy-
ers and sellers. The firm was active throughout the COVID-19 pandemic
assisting clients on lease agreements and force majeure issues
Reff & Associates Alexandru Reff • Local Real Estate Investor – assistance in the sale of 12 hypermarkets
Partner and shopping galleries to French retailer Auchan
• One of the largest real estate investment funds in Romania – acquisi-
Irina Dimitriu tion of 40.300 sqm GLA Promenada Mall from Raifeissen Evolution
• The Romanian branch of a world-recognized furniture retailer and
Partner
manufacturer – Exclusive legal adviser on ongoing commercial matters
an permanent legal adviser on real estate related matters
• One of the largest real estate investment funds in Romania – in the
acquisition of the class A – office complex Lakeview
• One of the largest Romanian construction companies – advising on
the sale of Unicredit Headquarters Building, a landmark, class-A office
property, which has deceived a BREEAM “VERY GOOD” certification
and has been ranked in the top 30 most architecturally impressive bank
headquarter buildings worldwide
Schoenherr si Sebastian Gutiu • River Development sale of The Light One office building to the inves-
Asociatii Office Managing Partner tor UNIQA Real Estate
• Advised OMV Petrom on the extension of an existing partnership with
Auchan Retail Romania, to open 400 MyAuchan proximity stores in
Petrom filling stations
• Advised TeraPlast S.A. on the sale of its sandwich panel, metallic roof
tile and accessories businesses to Kingspan Group plc.
Tuca, Zbarcea si Gabriel Zbarcea • Assisting Austria’s largest steel producer in the development of a mas-
Asociatii Partner sive greenfield project in South-Eastern Romania, following investments
worth up to EUR 7.000.000.000.
• Assistance to a group of Turkish investors in the development of a resi-
dential project in the north area of Bucharest. Total development value
of the project is of approximately EUR 800.000.000.
• Assisting the number one integrated oil and gas group in Central
Europe with relation to the development of a multimillion real estate
project in Straulesti that will include company`s HQ, a data centre and a
cogeneration power plant.
Wolf Theiss Bryan Jardine • Legal consultant of Erste Group Bank AG in the 123 milion Euros
Managing Partner financing granted to Mitiska REIM
• Assistance to Revetas and Cerberus investment funds on the acquisi-
tion of Radisson complex
• Numerous real estate financing projects
• Assistance to international retailers in lease related issues
*List in alphabetical order; information based on public information issued by the law firms.
139
JOERG MENZER
STEPS FORWARD
WITH MAJOR
CLIENTS
Profile:
Partner, Head CEE offices, Noerr
Prof. Dr. Jörg K. Menzer coordinates Noerr's CEE “We are constantly developing and ensuring
practice for international clients. He specializes in sustainable growth through strategic and business
M&A transactions and concentrates on structuring development measures towards excellence, quality
major foreign investments and business expansion leadership and through innovative & efficient
projects in CEE. digital processes.
He has extensive experience in acquisitions and We are forward thinkers, entrepreneurs and, above
greenfield investments, based on his knowledge of all, reliable partners for our clients.”
the business and legal environment in CEE and his
excellent networking in the region.
In addition, Jörg K. Menzer has worked on many

restructurings, private equity investments and capital
measures, as well as for public listed companies.
Jörg K. Menzer has been advising for more than 20

years major investors, companies from a wide
range of industries (e.g. automotive, retail, manu-
facturing etc.) on their market entry, investment
and expansion projects in Romania.
Noerr is one of the leading European law firms, with

established presence in Romanian real estate.
THETA Furniture & More:

Making a difference with tailor-made furniture
THETA Furniture & More is the only local integrator of interior
design & fit-out solutions that holds its own production
factory. THETA delivered hundreds of interior design and
fit-out projects on the local and foreign market, from office and
commercial, to HoReCa and medical. The company works with
both furniture, from its own production and imported furniture,
however more than 50% of the sales volume comes from the
custom-made furniture production at the factory.
In alignment with the objective of maintaining the share of at

least 50% of its turnover from the production activity, the
company aims to become an integrator with all solutions
provided in-house.
Since the very begining, the factory has been one of the most
important investments, with a constant expanding. The current lighting fixtures and more. The partnerships
factory is located near Bucharest and thought the initial area of with important architects in the field and the
the factory has been 700 sqm, in the present, it covers approx exclusive partnerships with global renowned
5.000 sqm. materials manufacturers for standard furniture
products, are the ingredient of our unique
"In mid-May of this year we started the project of building concepts.
the new production factory, having the capacity of approx.
5.000 sqm, located in the proximity of the current one. The The processes used in furniture manufacturing
new factory comprises areas such as: offices, production, include the cutting, bending, molding,
workroom for metal processing, painting area, tile storage laminating and assembly of materials such as
area (composite, wood, MDF), upholstery area, composite wood and its derivates, metal, glass, plastics,
processing area, storage area for finished products and composite and others.
accessories,” says Florin Gheorghe, Co-Fonder & CEO of
THETA Furniture & More. Raw materials like wood, metal, leather and
fabrics are most commonly used for
The factory specialists are working with modern materials, contemporary furniture though the only limit is
innovative accessories and uses state-of-the-art technologies in one's imagination while being creative.
creating custom furniture, smart ceilings, practical floors,
THETA Furniture & More

Furniture production facility near Bucharest
141
MEMBERS ACKNOWLEDGEMENT
BREC PROJECTS ARE SHAPED WITH THE CONTRIBUTION OF:
Strategic members: Business members:

GLOBALWORTH ADNBA
ONE UNITED PROPERTIES ADP GREEN BUILDING
AL PROF
ATALIAN
Corporate members: ALUKONIGSTAHL
AKCENT DEVELOPMENT BRISK
CA IMMO CBRE
DISENO COLOSSEUM
ELEMENT GROUP COS
GRAN VIA REAL ESTATE CONCEPT STRUCTURE
IMMOFINANZ CORAL CONSTRUCT
IONESCU SAVA CORDIA
RIVER DEVELOPMENT DECOR FLOOR
S IMMO DELTA STUDIO
SPEEDWELL DEPISTO
THE ONE EFMS – EXCLUSIVE FACILITY MANAGEMENT SYSTEMS
VASTINT EGLO
WDP EUROFIN
GREEN ALLEY
GTC
HAUTE COUTURE METAL
LION`S HEAD
LONDON PARTNERS
THE MAVERS
NOERR
OXYGEN HOME
PEIKKO
PROXIMUS PROPERTY MANAGEMENT
REYNAERS ALUMINIUM
RUSTLER
TECHNO MARINE
THETA FURNITURE & MORE
TIRIAC IMOBILIARE
VERBIO
WOPA
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BUCHAREST REAL ESTATE CLUB

Cop. 2 - pagina sponsori

COMING UP THIS AUTUMN

BREC REGIONAL CITIES

THE FIRST POWERLIST ON THE

KEY REAL ESTATE INVESTORS IN ROMANIA

COMPANY PORTFOLIO VALUE PROFILE PORTFOLIO LEADERSHIP

Source: Cushman & Wakeﬁeld Echinox

LARGEST OFFICE INVESTMENTS IN ROMANIA / 2021

OFFICE PROJECTS AREA / DEVELOPER CITY LEADERSHIP

Palas Campus 60.000 Iulius Group Iasi Iulian Dascalu

Expo 48.500 Atenor Bucharest Sorin Dumitrascu

J8 Oﬃce Park 45.000 Portland Bucharest Florin Furdui

U Center 32.000 Forte Partners Bucharest Geo Margescu

UBC 0 32.000 Iulius Group Timisoara Iulian Dascalu

Source: Cushman & Wakeﬁeld Echinox

LARGEST LOGISTIC & INDUSTRIAL INVESTMENTS IN ROMANIA / 2021

CTPark Bucharest West 101.800 CTP Bucharest Remon Vos

WDP Park Stefanesti 50.000 WDP Bucharest

CTPark Bucharest 40.000 CTP Bucharest Remon Vos

LARGEST RETAIL INVESTMENTS IN ROMANIA / 2021

Colosseum Mall 16.500 Nova Imobiliare Bucharest Panico Panayi

Source: Cushman & Wakeﬁeld Echinox

KEY RESIDENTIAL PROJECTS UNDER DEVELOPMENT BUCHAREST / 2021

PROJECT NUMBER DEVELOPER CITY LEADERSHIP

Nusco City 622 Nusco Bucharest Michele Nusco

Greenﬁeld Residence 544 Impact SA Bucharest Gheorghe Iaciu

Cortina North 530 Eden Capital Ilfov Abu-Lail Akram &

Belvedere Residences 482 London Bucharest Richard McLaughlin-Duane

One Cotroceni Park 7

Portfolio value of Globalworth Group:

Real Estate experience:

2017, Globalworth Poland, the Group’s Polish

At the same time, we will continue monitoring

At the same time, we will keep close to and

Portfolio value of Globalworth Group:

He founded the consulting company Transformative

Globalworth’s Managing Director in Romania holds a

“Romania is a market that is emerging as

2021 in the real estate market will be

The developer is bringing the future closer in the

Consolidated turnover of One United Properties

company meant to ensure continuity and market

“One United Properties has succeeded in

2021 is an important year as we have

One United Properties is one of the largest and most

The company founders have invested in real estate

One United Properties announced its intentions to be

Consolidated turnover of One United Properties

and commercial units, and also the ambitious

The company succeeded in innovating both in terms

“We intend to continue our eﬀorts to develop

With the listing on the Bucharest Stock

Portfolio value of Immoﬁnanz Romania

Further on, she consolidated this knowledge in

IMMOFINANZ focuses on constantly adapting to the

“We focus on growth, especially for our

The standing investment portfolio of EUR

Irina Dimitriu Alexandra Smedoiu

ALL EYES ON SUSTAINABLE BUILDINGS