Up to 750,000 sqm of modern logistics and industrial space could be delivered this year in Romania, which could push the local stock of industrial spaces to over 4 million sqm, according to Dunwell, a real estate consultancy firm that specializes on the industrial segment.
About 300,000 sqm of industrial projects are under construction now, one-third of the built area being set in Bucharest or nearby.
“Many important projects, started in 2018, will get finalized this year and the developers have started to look up for new future land developments in the regional cities like Craiova, Constanta or Iasi in order to extend their presence across the country,” said Daniel Cautiș, managing partner Dunwell.
“An increase in the demand for smaller size industrial space is being recorded and we expect the Eastern side of the Capital Bucharest to become a new hot spot for this type of projects, based on a few key factors such as: the lack of developer and logistics competition in the area, great public transport connection with the city and A2 highway and the workforce availability nearby. Therewith, the North-Eastern side of Bucharest, that connects the city with A3 Bucharest – Ploiesti highway, is also targeted by investors for future industrial projects,” he added.
(Photo source: the company)
Romania's modern logistics and industrial space inventory reached 3.8 million square meters (sqm) at the end of 2018,...