Romania is on a course to reach the highest record in history for the industrial segment and the trend will continue next year due to increasing demand from international retailers that are creating hubs in the country, according to CBRE Romania.
Around 868,000 sqm of industrial and logistics spaces were leased in the first nine months of this year, with a value almost double compared with same period of the 2021 and already overpassing the total leased area during the entire previous year.
“The contribution of private developers investing in air cargo or intermodal terminals is very important and will generate new opportunities for companies interested in opening production/logistics facilities on the territory of our country. We see great potential in the manufacturing business, as we have discussed this with companies operating in different industries. There are many opportunities for them in Romania: the prices for lands with industrial urban zoning plans (PUZs) are still competitive, the developers are experienced, the workforce is qualified, and the State Aid Schemes are attractive. We are still deficient in infrastructure, but we will recover in the coming years,” said Victor Răchită, Head of Industrial & Logistics at CBRE Romania.
The largest deals of the year were two pre-leases of over 80,000 leasable sqm each that were leased in the first and the third quarters of the year. The first one was signed in the Southern region of the country, while the latter one for a project which is going to be developed in Bucharest.
In total, the modern industrial stock in Romania reached 6.12 million sqm at the end of Q3 2022, half of it being in Bucharest and its proximities. The year-to-date new supply accounted almost half a million sqm that were inaugurated throughout the country, out of which 110,300 sqm during Q3.
At the end of Q3, approximately 562,000 sqm of industrial and logistic spaces were under construction nationwide and are expected to be delivered by the end of 2023.
