Over EUR 1 bln worth of commercial real estate properties delivered in Romania in 2017

The value of retail, office and industrial real estate properties delivered in Romania last year reached EUR 1.08 billion, according to an analysis by real estate consultancy firm Activ Property Services.

The study took into account the properties over 3,000 sqm finalized last year in Romania, built for rent or for own use.

Office projects had the highest share in the total value. The new inventory of office space delivered in 2017 totaled 258,700 sqm and had an estimated value of EUR 465 million, according to the analysis. In Bucharest, over 160,000 sqm of new office space was delivered with an estimated value of EUR 311 million while in the rest of the country the new inventory totaled almost 100,000 sqm, with a value of some EUR 150 million.

In the logistics and industrial sector, the new deliveries totalled 550,000 sqm, with an estimated value of EUR 290 million.

Overall, Bucharest saw the highest value of new real estate properties delivered last year, estimated at EUR 582 million, followed by Cluj-Napoca, with EUR 115 million, and Timisoara – EUR 105 million.

This year, the value of new properties to be delivered is expected to reach EUR 1.5 billion.

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