News Article CEE Colliers Romania industrial nearshoring Romania Victor Coșconel
by Property Forum | Industrial

Around 650,000 sqm of industrial and logistics spaces are under development in Romania, which once completed will be added to the stock of 6.3 million sqm that was operational at the end of 2022, according to a Colliers report.

Romania is seen as a regional distribution hub by companies targeting Southeastern Europe, which is pushing up demand for industrial space. Also, the country could see more investment due to re-shoring/friend-shoring trends, which is another driver of growth for the industrial sector.

“The limited supply allows the stock to grow sustainably by about 10% per year in the medium term, assuming no major economic corrections, though faster growth spurts are possible and likely in certain years,” says Victor Coșconel, Head of Leasing | Office & Industrial Agencies at Colliers.

Bucharest and other industry-intensive regions, such as Transylvania or Prahova and Dolj, account for the bulk of the Romanian modern industrial stock, but the development is accelerating in smaller regional cities as well.

Rents for industrial spaces in Romania hover around €4 – €4.5 per sqm, while the vacancy rate across the market averages at 6%.

Across the CEE-12 region, the total industrial stock has reached 65 million sqm, with Poland leading the region with projects totaling close to 30 million sqm.