Saint-Gobain: Romania's construction market remains unpredictable in the short to medium term

Home sales are slowing, and the visibility for construction activity in the short and medium term is low, according to Saint-Gobain representatives in Romania, quoted by Ziarul Financiar.

New office projects are increasingly rare in 2023. "At the same time, in the context of current inflation, we find that financing is becoming increasingly expensive to support ongoing and planned investments, a situation that requires a careful approach to prioritizing and managing financial resources," the company's representatives explained.

To overcome this challenge, the company says it is focusing on identifying other opportunities to develop and diversify its portfolio, exploring the potential of other sectors and emerging markets. The diversification opportunities mentioned are buildings in the commercial sector - supermarkets, malls, hypermarkets -industrial buildings, logistics centers, prefabricated houses, but also technical insulation for industrial equipment or marine applications.

"In terms of markets, we are taking steps to strengthen our position in regional emerging markets (Bulgaria, Moldova, Western Balkan countries), making more intensive use of technical and commercial expertise from Romania, but also expanded production capacities – for example, the new drywall factory that will become functional towards the end of the year and the expanded portfolio of products and solutions developed in Romania, starting from exteriors including glass walls and interiors."

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