Colliers: Romania's modern industrial and logistics space to hit 8 mln sqm

The first half of 2024 ended with a modern stock of industrial and logistics space in Romania of about 7.3 million square meters, and developers have more than 700,000 sqm under construction in various stages, according to a Colliers' report on real estate market developments for the first half of the year.

Thus, the modern stock of industrial and logistics space could reach the 8 million square meters threshold next year.

Data indicate a strong demand for new spaces.

The total volume of spaces leased in the first six months reached around 342,000 square meters, a 24% decline compared to the same period in 2023, according to Colliers. However, the consulting firm cautions that these figures do not fully reflect the size of the local market, as only publicly available information is included, and Colliers consultants estimate that actual demand could be 20-30% higher.

The new demand for industrial and logistics spaces, excluding renegotiation contracts, accounted, in H1, for 52% of the total volume contracted, respectively 213,500 sqm, according to real estate consultancy Cushman & Wakefield Echinox.

Thus, the volume of new leased space doubled compared to the same period of 2023.

The companies leased industrial and logistics spaces with a total area of ​​410,500 sqm in H1, 25% less compared to the same period last year, which means that the volume of renegotiated contracts has diminished significantly.

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