CPI Romania: A new growth chapter in Romanian real estate

This year brought major progress for CPI Romania, from large-scale upgrades across its retail and office assets to a strengthened tenant mix and sustained leasing activity. Country Manager Fulga Dinu talks to Business Review about the initiatives that marked 2025 and the priorities guiding the company’s evolution.

By Anda Sebesi

What were your company’s key achievements this year?

In 2025, CPI Romania consolidated its position as one of the most prominent and active real estate investors in the country, delivering renovation and modernisation projects that set the foundation for the company’s next growth chapter.

After successfully integrating the Immofinanz and S Immo portfolios, we now manage one of Romania’s largest portfolios, with 530,000 sqm across retail and office spaces.

In Cluj-Napoca, we completed a major upgrade of VIVO! and welcomed Primark with its first store in the city. The opening created significant visibility both locally and regionally, reinforcing VIVO!’s position as a leading fashion and lifestyle destination and revitalising the tenant mix.

In Bucharest, Sun Plaza is undergoing a multi-phase transformation, setting a new standard for the asset. Pull&Bear has reopened in an enlarged, fully upgraded concept, while Zara has recently made its comeback with an impressive two-level flagship store. Additionally, we signed a lease agreement with Auchan to introduce a next-generation 7,000 sqm hypermarket, a move that secures the long-term relevance of the shopping centre.

In the office sector, CPI Romania continued to be one of the market’s most active property owners. With premium leasing services and a proactive asset management strategy, we completed over 40,000 sqm of new and renewed leases in 2025, partnering with strategic tenants across our portfolio.

How important are ESG and sustainability aspects for your company today?

ESG and sustainability are core to CPI Romania. Aligned with CPI Property Group’s ESG framework, we implement sustainability principles across our entire portfolio, focusing on energy efficiency, green mobility, and social impact. Energy performance remains a priority: our properties use exclusively green energy, as well as smart, efficient lighting, upgraded HVAC systems, and ongoing technological improvements that reduce consumption, operational costs, and environmental footprint. Almost all our assets have high-score certifications such as BREEAM and Access4you, underscoring our long-term commitment to responsible asset management.

Equally important is our social impact. Since 2018, we have run recurring initiatives, from blood donation campaigns and tree planting to recycling programmes and partnerships such as our contribution to the therapeutic garden at Hospice Casa Sperantei. Together with Environ, we installed recycling hubs in our office buildings and launched “Comunidar,” a circularity pop-up designed to inspire and promote the culture of reuse.

What proved most difficult to navigate from a management perspective this year?

In 2025, political and economic uncertainty affected both Romania and the global markets. Despite these challenges, we continued to successfully manage and invest in CPI Romania’s key projects to strengthen our long-term portfolio and actively adapt to market changes.

Which trends, shifts, or risks do you expect to have the biggest impact on your industry in 2026?

Three key trends are shaping the Romanian real estate sector. First, sustainability: premium office and retail properties need to implement rigorous ESG standards to remain competitive. Second, digitalization: smart technologies, energy-efficient solutions, and data-driven management are now fundamental requirements. Third, a new era of office and retail experiences: shopping centres are evolving into community hubs, while office buildings must provide flexible layouts, promote health and comfort, and drive higher productivity.

How do you unwind after a demanding week?

Spending time with my family is my anchor. We love travelling and exploring new things, even if this means sometimes discovery trips in Bucharest or in beautiful places in Romania. I have a lot of fun with my daughter; she is my best friend, and we do all sorts of “girl things,” from going shopping or to the movies, cooking together, listening to music, and discussing books. I’m equally passionate about arts and culture; I could spend days exploring museums, art galleries, watching theatre performances, and attending concerts.

What is something interesting you have read, watched, or listened to in the past few months?

One of the most meaningful works I’ve been involved with, which I am very proud to talk about, is the newly published “A Wanderer in Bucharest – The Dictionary of Bucharest Streets” by Sorin Bordusanu, an extraordinary editorial project brought to life by Vremea Publishing House. CPI Romania supported the publishing of this unique work as it restores the memory, the identity, and the context to the city we live in. This project is more than a book; it is an act of cultural preservation that serves historians, urbanists, academics, and all citizens who want to understand the city’s past in order to appreciate its present.

What is one thing people might be surprised to learn about you?

The fact that I love interior design and I am always changing decorations in my house, combining styles and ideas.