News release:
SVN EXPANDS INTERNATIONALLY WITH THE OPENING OF SVN ROMANIA
Boston, MA (April 11, 2019) SVN International Corp. announces the opening of Bucharest-based SVN Romania, its newest international office. SVN Romania will be headed by CEO Andrei Sarbu and his partner Ionut Nicolescu, two real estate consultants with nearly two decades of real estate and sales experience. The company will have both a commercial (office, retail, logistics, hotel, land, and investment) and a residential (condominiums, credit brokerage, property management, and valuations) practice. Additional, SVN Romania will have a regional office in Cluj – Napoca.
At its inception, SVN Romania, the largest real estate consultancy in the Romanian residential market, holds an exclusive portfolio of over 10 residential projects with at least 350 units each. The property management division within SVN Romania manages approximately 550,000 square meters of office space and over 1,000 commercial spaces, serving clients such Telekom Romania, Banca Comerciala Romana, and UniCredit Bank. The company projects that in 2019 it will handle approximately €4 million in transactions.
”The Romanian real estate market had its best period in the last decade, and there are still many growth opportunities. The industrial segment is going through a real boom, with the office and retail segments offering steady yields. The investment market has stabilized at approximately €1 billion. Our goal for 2020 is to be in the top five largest real estate consultancies in Romania,” said SVN Romania CEO Andrei Sârbu.
”Romania presents the biggest potential in the region. For example, over 1,000 transactions with properties with a price of over €500,000 close each year at the national level. In comparison with other Central and Eastern European countries, we see there’s still a significant growth potential in all real estate segments,” said SVN International Corp. Director of International Sales Rafael Noriega.
News release also available on GlobeNewswire.