The estimated volume of new industrial deliveries in Romania is set to exceed 500,000 sqm in H2 2024, which would add to the existing stock of 7.1 million sqm.
With a population of around 19 million, Romania’s per capita warehouse stock is much lower than the approximately 31 million sqm in Poland, which has a population of almost 37 million, or the stock of over 11 million sqm in the Czech Republic and less than 11 million inhabitants.
During Q1, the biggest transactions averaged at 20,000 sqm and included the contract signed by CTP with Yusen Logistics in West Bucharest and the sale-leaseback contract inked by WDP with Tenneco for an auto parts production facility in Ploiești.
”Importantly, new players continue to enter the local market. In the first quarter, for example, Indotek acquired land for future warehouse developments, and AG Capital, through its I&L division Park Lane Developments, announced intentions for future projects and completed the acquisition of land in Popesti-Leordeni. Additionally, the 10,000 sqm deal with Zabka - DRIM Daniel Distribution, a new player in the market, can be added to the list, with significant expansion expected in the future,” said Victor Cosconel, Head of Office & Industrial Agencies at Colliers.
The rent environment continues to register upward pressure, with average rents ranging from €4.5 to €5 per sqm, although some properties have exceeded this level.
Going forward, the development pipeline will remain positive due to more investments attracted by Romania in the industrial field.
