A democratic leader at the helm of Globalworth Group

The past two years have been quite destabilising for the real estate market. Just as European economies had started to recover from the pandemic, they were again disrupted by the war in Ukraine breaking out in early 2022. The combined impact of geopolitical tension and pent-up demand resulting from the pandemic gave rise to inflationary pressures, which in turn led the ECB to increase interest rates from practically zero to the potentially terminal rate of 4%+. Consequently, funding costs have increased for all economic sectors, real estate included. The state of debt markets has generated higher risk aversion among investors, therefore we’re likely to see lower transaction volumes in the coming period. Furthermore, higher debt costs combined with higher construction costs have also led to a shrinking development pipeline in most property segments.

By Anda Sebesi

estate company has obtained permits for two new office buildings in Bucharest. Last but not least, Globalworth is the leading office investor in Central and Eastern Europe (CEE) and the office markets in Poland and Romania.

Selinas is a seasoned business leader with over twenty years of experience in the financial and property sectors. He has multi-disciplinary expertise including executive management, operational and financial restructuring, M&A advisory, private equity, and trading in several asset classes (Property, Distressed Debt, Fixed Income, Precious Metals) across institutions such as listed real estate companies, private equity funds, and investment banks from South East Europe, China, Brazil, the Middle East, and Western Europe.

Newly appointed as the CEO of Globalworth Group in January this year, Dennis Selinas plans to embrace the company’s vision of continuously upgrading its assets and operational excellence and enhancing the competitive advantages that make it the preferred landlord in Romania and Poland. “In a rapidly shifting external macroeconomic and geopolitical environment, we plan to deliver a well-crafted strategy with the support of an insightful team that has been instrumental to Globalworth’s evolution to its current prominent market position,” he says. Currently, Globalworth has the largest business community, with 222 companies and 16 premium office spaces in its Romanian portfolio. The real

“My leadership style is a blend of democratic and thought-provoking. I value open communication and the exchange of ideas, and I encourage constructive criticism. I offer guidance when the team needs it, but I expect them to complete the work at the highest possible standard. I lead with trust and honesty, raising challenges to increase competitiveness and encouraging people to share their ideas, fostering confidence,” Selinas says. He also believes that this approach helps create a culture of excellence within the company, where employees feel empowered to bring their best to the table. “This democratic aspect of my leadership style inspires a sense of collaboration and teamwork, and the challenging aspect is what ensures that we are all focused on meeting our goals and achieving success,” the CEO concludes.