Healthcare real estate developer Medcity acquired a prime building of over 1,000 sqm in the center of Timisoara from the fashion Folli Follie Group. The deal, brokered by Colliers, marks the company’s entry into the city in western Romania, expanding its portfolio of buildings under The Medical Mall concept.

The building bought by Medcity will be transformed into a facility dedicated exclusively to healthcare activities, according to the press release from Colliers.

“Medcity intends to change the use of the building into a medical services space, in which to attract some of the biggest names in the Romanian medical services market,” said Silviu Carlan, Senior Associate at Colliers Romania.

Currently, Medcity owns and manages a portfolio of 10 buildings in Romania, with a total leasable area of over 17,000 square meters, of which over 97% is already leased by big brands in the Romanian healthcare market, such as Regina Maria, Synevo, or Catena.

The medical malls developed by Medcity in Romania have so far accounted for investments of over EUR 27 million, and the company’s plans for the next two years are to expand or develop new projects, both in current and new cities, such as Cluj, Brasov, Constanta, Oradea, and Sibiu.

FF Group manages stores in Romania under the brands Collective, Scotch & Soda, and Sport Loft, as well as two online platforms and its own warehouse.

Last year, the Romanian investment market recorded transactions worth more than EUR 1.25 billion, well above the EUR 890 million result of 2021, marking the highest value since 2007, according to the annual report published by Colliers. “Going forward, 2023 isn’t looking like a bad year either, even if the market volume is likely to decrease considering last year’s record volume,” Colliers said.

irina.marica@romania-insider.com

(Photo source: Pattanaphong Khuankaew | Dreamstime.com)