The developers of logistics and industrial spaces maintained their investment plans and delivered 600,000 sqm of new warehouses last year, according to JLL Romania data. Most of them were delivered in Bucharest and the surrounding area, with 80% of the total.
“Almost all the projects announced by the developers for 2020 have been delivered. Developers have not stoped or slowed down the construction plans, even if their decision involved increased security measures on construction sites. Dynamics of new developments were supported by a record demand of 670,000 sqm, up 15% from 2019 ”, said Costin Bănică, head of the industrial department of JLL Romania.
2020 was the year in which the stock of industrial and logistics spaces in Romania exceeded the threshold of 5 million sqm, from 4.46 million sqm recorded at the end of 2019.
Despite the pandemic, 2020 was a record year for industrial space transactions. At the national level, over 670,000 sqm of industrial space were leased, increasing by approximately 15% compared to the volume recorded in 2019, in turn, a record year.
Last year, JLL also had an important contribution to the market performance, carrying out leasing transactions of over 200,000 sqm, with a share of 32.5% of the area rented through real estate agents (640,000 sqm).
Out of the total demand of 670,000 sqm, the net demand represented over 70%, respectively 478,000 sqm.
"The industrial space market has kept its dynamism from previous years, and in 2020 we even saw more activity. The record set by the demand last year encouraged developers to continue investing, so that by 2021 the projects announced remain at a level comparable to that of 2020, respectively almost 590,000 sqm, which encourages us to say that this year will be a good one for this segment of the real estate market ", added Viorel Opaiț, Business Development Director, JLL Romania.
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