Involvement in the Hospitality Expansion.
Vitalis Team is coordinating the development of Hotel Cota 1400 in Sinaia
The last years are marked by a significant accelerated rhythm in the development of hospitality sector. One major factor driving the evolution of this sector in Romania is the country’s increasing popularity as a tourist destination. Our country has a rich cultural heritage, stunning natural landscapes, and a diversity range of attractions that appeal to travelers. As a result, there has been a growing demand for high-quality accommodation, dining, and entertainment options, leading to an expansion of the hospitality industry. Our team continues to be actively involved in numerous projects, including the Hotel Cota 1400, located in Sinaia. This hotel is one full of history, a real touristic attraction for travelers, and a reference of the most famous mountain resort from Valea Prahovei. This collaboration started in 2023 and aims to deliver a hotel that offers 69 rooms and a unit that will fulfill the needs of all guests. In both pre-construction and construction phases, we delivered Project & Cost Management Services. Site Management, Site Inspection and H&S Coordination Services are now provided by us in the phase of construction. We truly believe that this partnership will result with an incredible and high-quality project. Beside Cota 1400 hotel in Sinaia, we are currently involved in other six projects alike. Two of them are located in Bucharest, two in Brasov, one in Satu Mare and another one in Alba Iulia.
Vitalis team will successfully deliver 800 new hotel rooms, projected and designed in conformity with our permanent quality standards.
We are looking forward to be involved in these developments, having a vast experience and an ongoing growing portfolio.
#BuildingTrust in hospitality is one of the reasons that make us proud of our work.
One United Properties 2023 Sustainability Report: 14 Construction Sites, over 21,000 jobs created
One United Properties, the leading green developer and investor in residential, mixed-use, and office real estate in Romania, publishes its fourth voluntary Sustainability Report for 2023. The report highlights the Company’s progress in key sustainability areas and covers vast environmental, social, and governance aspects.
“As our business grows, so does the number of developments that transform the face of Bucharest. In 2023, One United Properties completed 1,549 residential and commercial units, marking our largest annual delivery to date and surpassing all previous years’ output.
“Simultaneously, our Company had 4,281 units under active development, solidifying our position as Romania’s leading green developer. Our operations throughout last year spanned fourteen construction sites, including restorations of the former Ford Factory, now One Gallery, and Braikoff House, soon to be unveiled as One Athenee, both due for delivery in 2025. It has been a landmark year in terms of development, but it was equally important in terms of our strides in measuring our ESG impact. In this context, we are more committed than ever to providing a transparent overview of our operations, resources, and objectives regarding our ESG actions. This unwavering dedication underscores our role not just as developers, but as pioneers of sustainable and responsible development, shaping a better future for Bucharest and beyond,” said Victor Capitanu, co-CEO of One United Properties.
One United Properties operations expanded significantly in 2023, with the value of the developments under construction exceeding 1.5 billion euros and the total surface under construction amounting to almost 900,000 sqm. Over 21,000 professionals contributed to these developments, underscoring the Company’s impact on the local economy. Consequently, One United Properties advanced in 2023 social policies, registering a nearly 35% increase in average employee remuneration, a 34% reduction in the ratio of highest to median annual compensation, and a 9% improvement in the gender pay gap, which now stands at 0.86 across all the workforce. Moreover, the Company introduced a minimum salary of 1,000 euros for university graduate holding full time positions. Employee attrition decreased from 18% in 2022 to 12% in 2023, underscoring a supportive and stable workplace environment. Another important aspect of the urban regeneration promise is the restoration portfolio, which includes bringing back to glory four formerly abandoned buildings, which will be reintroduced to the public circuit as One Gallery, One Athenee, Mondrian Bucharest, and One Downtown. The total value of this portfolio has grown to 260 million euros, marking the most significant private sector investment in Romania dedicated to restoring historical and industrial landmarks. In 2023, the Company measured, for the second year in a row, its CO2 footprint. Consequently, for 2023, One United Properties generated approximately 31 tons of CO2 equivalent under scope 1 emissions and 20,368 tons of CO2 equivalent under scope 2 emissions. The Company also measured, for the first time, partial scope 3 emissions generated on the development sites and across the office developments, which amounted to 1,273 tons.
In terms of corporate social responsibility, in 2023 alone, One United Properties donated 9.3 million lei to supporting local associations and charitable projects. The Company’s CSR strategy is oriented around three verticals: urban regeneration and environmental protection, where One United Properties made total donations of 6.1 million lei; education, sports and entrepreneurship, where the support amounted to 2.9 million lei; healthcare and research, where the Company donated 331.4 thousand lei last year to several causes.
(Source: www.business-review.eu)
Romanians spent €36 billion in large retail chains across 2023, up 11% vs. 2022; supermarkets and hypermarkets accounted for more than 60%
Bucharest, July 2024: Romanians spent €36 billion in large retail chains, an amount 11% higher compared with 2022, out of which the FMCG spending accounted for €22.5 billion euros (more than 60% share), according to the Romania Retail Snapshot 2024 performed by the Cushman & Wakefield Echinox real estate consultancy company, based on the financial results of 116 companies from 12 different retail segments.
The second largest share (€3.6 billion and 10% respectively) pertained to DIY stores, a segment followed by Electro-IT (€3.3 billion and 9%) and Fashion retailers (€2.2 billion euros, 6.1%). Jewelry (€212 million, 0.6% of total sales), Footwear (€356 million, 1%) and Cosmetics (€458 million, 1.3%) retailers had the lowest shares in the shopping basket analyzed in the report. The 2023 annual turnover growth rate was slightly above the annual the inflation rate (10.4%) and slowed down compared with 2022, when the corresponding spike was of 16.3% vs 13.8% inflation.
Vlad Săftoiu, Head of Research, Cushman & Wakefield Echinox: “The retail market performed very well throughout last year, despite the fact that 2023 was the second consecutive year with a double-digit inflation rate. Therefore, all the segments from our snapshot recorded sales increases compared with 2022, most of them above inflation. Moreover, an expanded analysis of the entire 2019 – 2023 period shows that the average CAGR (compound annual growth rate) for the major retail operators (11.5%) was clearly above the average annual inflation rate during the same timeframe (7.9%). The forecast for this year is also positive, considering the official public data which illustrates a consistent retail sales growth compared with the same period in 2023″.
The average annual sales growth rate from 2019 to 2023 exceeded the average annual price growth for most categories (11.5% vs 7.9%), with the exception of Footwear (6.3%) and Home & Deco (6.8%) retailers.
On the other hand, the Cosmetics segment experienced the highest surge in this period (17.8%), followed by specialized stores (17.3%).
The turnover increases reported by the large retailers was sustained both through expansions and organically, due to a growth in sales in physical stores and to the online expansions performed by a series of operators.
These expansions have also come as a result of the investments made by developers (in shopping centers and retail parks) who completed more than 50 projects between 2019 and 2023, consisting in both new schemes and expansions of existing ones, totaling more than 715,000 sq. m of new modern retail spaces.
(Source: www.cwechinox.com)