CPI Property Group striving to consolidate its real estate portfolio

CPI Property Group became one of the top three commercial real estate players on the local market last year. Fulga Dinu, Country Manager at CPI Property Group in Romania, sat down with Business Review and told us what has stood behind the company’s steady growth in recent years.

By Anda Sebesi

What is your leadership style and how does it support your company’s performance?

I believe the leader of the 21st century should possess many qualities such as authenticity, involvement and know-how, clarity, diplomacy, energy, and finally, a bit of humour. Leaders who provide clear directions and explanations and show that they genuinely care for their team are great assets. Possessing healthy principles, humanity, and the ability to understand life and business situations are traits that every leader should have. I strive to be that kind of person, because I believe that a good leader inspires team members to be their best selves.

The leadership style defines the company’s culture, the concepts based on which results are achieved and how team merits are rewarded. Therefore, I place a great deal of trust in my colleagues and tend to form strong relationships with them. I approach my colleagues with a positive attitude and always listen to their concerns and needs, seeking to understand them better. I consult with them and value their professional opinions.

In conclusion, I believe that building and maintaining a motivated and well-prepared team, with strong work ethics, dedication, and loyalty is essential for the success of any organisation. As such, it is my responsibility to defend these values.

What were your main professional achievements in 2023?

In 2023, CPI Romania focused on consolidating its portfolio and it thus became one of the three major commercial real estate players on the local market. The company currently owns several office buildings, retail properties, and a hotel in Bucharest. The office buildings offer over 350,000 sqm of premium spaces in Bucharest, while the retail properties totalling over 240,000 sqm GLA are located both in Bucharest (Sun Plaza) as well as in several major cities in Romania.

At the end of 2023, we posted very good results. In the office segment, the company closed new contracts, extensions, and renewals for over 50,000 sqm GLA, reaching an occupancy level of almost 90% across the portfolio. The company’s efforts to create the appropriate environment and infrastructure allows tenants to improve the physical presence of employees in the office—an indicator that went over 70% at the end of the year. In the retail area, CPI Romania also achieved good results, with an occupancy rate of close to 100% in the six shopping centres in its portfolio.

What were the biggest challenges your business sector faced last year and how did you navigate them?

I firmly believe that every challenge presents an opportunity for growth. While we were all faced with macroeconomic obstacles, I couldn’t say that we had to deal with any significant issues in our operations. However, this is a result of the fact that we quickly adapted to changes and found flexible solutions to respond to current market requirements.

Goals for 2024: