More than EUR 9 billion will be invested in Constanta

by   CIJ News iDesk V
2024-07-02   09:22
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Public and private investments of more than EUR 9 billion transform Constanța into a pole of regional development in the medium and long term, with multiple opportunities for the real estate field, according to an analysis by Romania Property Club. Energy, agriculture, maritime transport, security and tourism are the main strengths of Constanta.

More than 1,000 internationally affiliated hotel rooms are under development, with opening dates between 2024 and 2028, according to tourism consultancy Est Hospitality.

Investor Iulius is working on a complex development in Constanta on a 38-hectare plot of land that will integrate urban gardens, offices, shopping and entertainment areas, educational and cultural facilities, but also an integrated infrastructure to support mobility and connectivity.

The EUR 4 billion partnership between Romgaz and OMV will transform Romania into the largest gas producer in Europe. OMV Petrom expects to start drilling in 2025 and the estimate for the first gas deliveries is 2027.

After a difficult period for the residential segment in Constanţa, demand is recovering. According to immobiliare.rodata, the demand for new apartments in Constanţa between January and May 2024 registered a 16 percent increase compared to the same period last year.

Constanta enjoys one of the highest densities of commercial spaces in Romania due to its attractiveness and increased traffic in the summer months. Given the accelerated residential development in recent years, we expect to see new proximity developments in the near future to meet the needs of newly formed communities.

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