The Construction Of The First Residential Compound In Romania Designed For Seniors Is Coordinated By Vitalis
Cluj Senior Village is the first residential complex in Romania designed exclusively for seniors aged over 55. The project aims to build a community of people with the same interests and values, offering access to a various range of special facilities and leisure spaces.
Located in Apahida village, 10 km away from Cluj-Napoca and 8 km from Avram Iancu International Airport, the complex is found at the foot of a beautiful hill with pine trees, on a private land of 11,000 sq. m total area.
The project consists of the development of 64 modern and cozy apartments with one and two rooms, designed to meet the specific needs of the seniors. Moreover, the future residents will benefit from exclusive access to interior leisure spaces and a fenced park. Among the common spaces designed for socializing and community bounding, the complex will provide a cake shop, a library, common dining rooms, and a kinesiotherapy and massage office. Furthermore, the residents will benefit from household and care services, on request.
The residential complex will have certified care services provided by Valea Izvoarelor Senior Living, the recognized leader in elderly care. Some of the care services available for future residents are apartment cleaning, laundry, monitoring the vital parameters by a qualified nurse, procurement and administration of medicines and medical treatments, daily help in various activities, 24/7 medical state surveillance, kinesiotherapy, massage, and others.
Vitalis team has been appointed to provide Project and Cost Management services for the construction of Cluj Senior Village, bringing to the project an extensive experience in both residential developments and healthcare projects, accumulated in the over 16 years of Building Trust in the most amazing construction projects all over Romania and above.
One of the latest healthcare projects the Vitalis team is involved in is the construction of a new ultramodern Medicover hospital in Bucharest. Some other important projects from our medical care portfolio are The Nefromed Dialysis Center, Sfântul Spiridon Hospital in Mioveni, Amethyst Radiotherapy Center in Bucharest, Hospice Casa Speranței in Bucharest, MedEuropa Radiotherapy Centers in Bucharest, Oradea, Brasov and Constanta, and many others.
Romanian Investment Market în Q1 2022
In the first three months of 2022, Romania’s investment market concluded transactions with a total volume of EUR 68.04 mln, 31% less compared with the same period in 2021. The largest deal of the quarter represented 48% of the total investment volume and refers to the acquisition of an office building in Cluj-Napoca for an estimated amount of a bit over EUR 30.0 mln.
Even though from the total four investment transactions registered for Q1 2022, three of them were concluded for properties located in Bucharest, they only attracted 52% of the total investment volume, the remainder 48% is concentrated in one major transaction for a property located in a main regional city, respectively Cluj-Napoca.
As per the sectorial split of the investment volume, office and retail properties were the two types of properties for which investors managed to seal the deal in the first quarter of the year. Not surprisingly anymore, office properties continue to generate the largest investment volume, having 78% from the total transacted sum. Nonetheless, the other 22% is the contribution of a single retail deal, for circa EUR 15.0 mln.
The source of capital brought on the Romanian market in the first quarter of the year was exclusively foreign, the largest share coming from Belgium, followed by Turkey and Hungary with percentages of 22% each from total volume and Cyprus with 8%.
At the beginning of the year, prime yields maintained at the same level from the last quarter of the previous year, respectively at 7.00% for the retail market, 6.75% for the office market, and 7.25% for the industrial market.
The pipeline for the remainder of the year points towards an acceleration of the traded volume, as the market is primed to surpass the traded volume from 2021.
Demand For Industrial And Logistics Spaces Increased By 50% In The First Quarter Of 2022
The leasing of industrial and logistics spaces increased by 50% in the first quarter of 2022 compared with the same period of last year, exceeding the 300,000 square meter threshold, thus creating the premises for a new record year in terms of demand for this type of spaces, according to a real estate consultancy company.
This robust demand in the first quarter maintains the positive evolution of the industrial and logistics segment from the last two years, as more than 85% of the transactional volume between January and March 2022 pertained to new spaces and only 15% represented renewal of existing contracts.
Retail and e-commerce companies have been the most active, with 35% of the total leased space, followed by logistics and distribution and automotive with shares of 15% and 10% respectively of the total contracted area.
It should be noted that demand in Q1 was no longer concentrated mostly around Bucharest, which has traditionally attracted over 50% of the transacted volume. On this occasion, Bucharest had a share of 35% of the total demand, 29% of the leased area being in projects in Ploiești, 8.3% in Slatina, and 8% in Arad.
In terms of new supply, the first quarter was marked by a significant increase, supported both by the positive evolution of demand, and also by the higher temperatures during the winter. Therefore, almost 180,000 square meters of new spaces were delivered in Q1, a significant increase compared with Q1 2021 when only 30,000 square meters were completed.
Projects totaling more than 500,000 square meters are currently under construction in various cities across the country. Bucharest remains the preferred destination for developers, with 50% of the projects to be delivered being located around the capital city, while Timișoara, Brașov, Arad and Sibiu will also benefit from new spaces.