The volume of land sales for commercial real estate projects in Romania (excluding for traditional industrial and logistics projects) reached around €450 million in 2022, down from almost €800 million euros a year earlier, according to estimates by real estate consultancy Colliers. 

From the warehouse developers' perspective, 2023 will be marked by very well-thought-out purchases. With the costs of financing constantly rising, construction costs changing, and investors pressing for discounts on the existing warehouse market, the land market will be the first to feel this accumulated pressure, says Bartłomiej Krzyżak, Senior Director, Investment at Avison Young.

Residential developers have been the most active in terms of land acquisitions in the past 2.5 years, as they secured land plots which allow the construction of more than 30,000 units in all parts of Bucharest, according to data from real estate consultancy Cushman & Wakefield Echinox. 

Following a change to its investment model, the ORPEA Group, an entity specializing in long-term care and rehabilitation, has decided to restructure its project portfolio in the largest Polish cities, which were built for its planned expansion. Savills has been instructed to search for investors.

International company TKH Group N.V., represented by its newly established company EEP LCC, has purchased an investment site of approximately eight hectares in Sieraków in the Rawicz municipality. In the formal preparation for obtaining the land for sale, support during negotiations and in the process of purchasing the land was provided by specialists from JLL’s industrial department in cooperation with the Rawicz Office for Investor Assistance.

The pan-European developer, which entered the Hungarian market a relatively short time ago, sees a lot of opportunities in the countryside to build logistics centres for different end-users. Property Forum asked László Kemenes, Managing Director of the Hungarian branch about the company's plan for expansion and tackling the current general difficulties in the property industry.

Romanian IMPACT Developer & Contractor has recorded a gross profit of 16.7 million lei (€3.3 million) in the first quarter of 2022, up 49% compared to the same period of last year over higher residential sales. 

P3, an investor and developer of European warehouse facilities, has acquired 29 hectares of land in Kąty Wrocławskie. This newly purchased plot is located near Wrocław, in the Lower Silesia region, one of the most attractive warehouse locations in Poland. Logistics facilities will be built on the site comprising a total area of around 175,000 sqm.

Romanian developer One United Properties has purchased a land plot of 3,065 sqm for the extension of its residential complex One Lake Club, located on the shores of the Lake Tei in Bucharest. 

Property group NEPI Rockcastle, the biggest owner of shopping centres in Romania, has purchased a land plot of 17 hectares Galați for an undisclosed sum.