Positive dynamics of CPI Romania's business in 2024: new lease contracts for a total area of 41,500 sqm in the office segment and 98% occupancy rate of shopping centers

Since the beginning of this year, CPI Romania has signed lease contracts for 41,500 sqm, both new contracts and extensions of existing contracts, after closing the first half of the year with a share representing 20% of the total leasing activity registered at market level. CPI Romania currently owns office buildings with a total area of 340,000 sqm, representing 10% of the modern stock of office projects in Bucharest.
New tenants or tenants whose leases have been extended include SAP Romania and Salveo Romania (in myhive S-Park building), DB Engineering & Consulting GmbH Berlin and Samsung Electronics Romania (in myhive Metroffice building), Deichmann (in myhive Victoria Park building), Regina Maria (in Băneasa Airport Tower building), LPP and the Irish Embassy (in The Mark building).
Recently, the company has completed the transaction in which the myhive Victoriei building, located in the Immofinanz portfolio, was taken over by AFI Europe, a step that is part of the process of optimizing CPI Romania's office portfolio.
Fulga Dinu, Country Manager CPI Romania: "CPI Property Group consolidates its operations in Romania, after the integration of the Immofinanz and S-IMMO portfolios. The very good results from the beginning of 2024 to this moment reflect the value of the portfolio, the quality of the services thet we offer to our tenants and our permanent concern to increase the relevance of the spaces for tenants and to enhance the work experience of the employees in our office buildings. In the retail area, we maintained the occupancy rate of 98% by investing in modernization processes and updating the tenant mix and we signed new partnerships with important brands in international retail, desired by the public. We continue to reinvent ourselves to meet the latest demands of the communities we have created around our shopping centers."
CPI Romania is one of the largest players in the office segment, with a portfolio that includes five myhive buildings (S-Park, Victoria Park, Metroffice, IRIDE 19 and IRIDE 20), IRIDE Business Park, Băneasa Airport Tower, Pipera 1, Pipera 2, Global Business Center, The Mark, Expo Business Center, Sun Offices, Campus 6.2 and 6.3.

98% occupancy of retail properties and focus on communities
As for the retail segment, CPI Romania managed to maintain, this year, the average occupancy rate of the entire portfolio at 98%, by investing in the modernization of its shopping centers, attracting and integrating new internationally renowned brands, diversifying services, aligning with ESG policy and the diversity of events appreciated by the communities created around these projects.
One of the most important development projects of CPI Romania at national level was signed in February with the international fashion retailer Primark, which will open next year, in VIVO! Cluj-Napoca, the fourth store in Romania. The shopping center is under a refurbishemnt proces to offer Primark a retail area of 5,000 sqm, with the commercial space occupying 3,700 sqm divided into two floors.
CPI Romania owns the Sun Plaza shopping center in Bucharest, the VIVO! centers in Cluj-Napoca, Constanța, Pitesti and Baia Mare, the Felicia commercial center in Iași and the Stop Shop retail park in Botoșani, totaling 270,000 sqm. The building in which the Novotel hotel operates on Calea Victoriei is also owned by the company.