by Property Forum | Industrial

The development of the industrial and logistics market remains strong in 2021 in terms of leasing transactions and deliveries of new projects. Demand for new spaces across Romania is driven by automotive and retail players. 

In the first quarter of 2021, some 264,000 sqm of industrial spaces were leased in Romania, up 43% compared to the same period of 2020, which was a record year for the sector, according to a report by CBRE. 

The biggest deal of the first quarter saw car maker Dacia renew its contract for a 68,000 sqm warehouse of Globalworth in Argeș county. 

In the first quarter, 61,000 sqm were added to the existing stock of 5.16 million sqm of industrial space, most of it being built in the western and north-western regions of the country. Another 600,000 sqm are expected to be delivered by the end of this year, according to CBRE data. The rent environment was stable at a monthly rate of €3.90 per sqm of industrial space, similar to the end of 2020. 

Răzvan Iorgu, Managing Director of CBRE Romania says that 2021 „has all the prerequisites to become a new record year for the industrial market.” 

In the retail segment, the stock is edging closer to the 4 million sqm mark and over 170,000 sqm are under construction right now and will be delivered by the end of the year.