by Property Forum | Industrial

Smart controller provider Topband Europe has leased 11,000 sqm of industrial spaces in the Olympian Park based in Timișoara, in a deal that marks the entry of the Chinese company on the Romanian market.

The project has the expansion option for another 12,000 sqm in case the company needs further development space. 

“We will provide about 1,000 new jobs in the area by 2025, in an investment that will amount to $30 million. Our plan is to reach a capacity of 9 million pieces annually which will generate sales of approximately $150 million. All these objectives represent only the first step that Topband is taking in Romania,” said Shengxiang Ye, General Manager of Topband Europe. 

The transaction was brokered by real estate consultancy CBRE. 

Romania's industrial market is set to expand by around 700,000 sqm by the end of 2022, pushing the total stock to more than 6 million sqm.