New logistics projects delivered in Romania this year fully absorbed by market demand
Real estate developers in Romania delivered industrial and logistics projects with a total area of 410,000 sqm in the first nine months, a volume almost wholly absorbed by market demand during this period, which stood at 392,000 sqm, according to JLL's Bucharest City Report Q3 2020.
"The logistics and industrial market is one of the most balanced real estate sectors in Romania. The developers calibrated their plans according to demand while the rental activity continued to be at the same level as in previous years, despite the uncertainties related to consumption, unemployment, economic growth," said Costin Bănica, Head of Industrial Department JLL Romania.
The volume of industrial and logistics spaces rented in the first nine months was 16% higher than in the corresponding period last year when it stood at 337,000 sqm.
Bucharest attracted almost half of the demand for industrial and logistics spaces in the country (approximately 171,000 sqm), followed by Timisoara (76,000 sqm), Craiova (57,500 sqm), and Arad (almost 20,000 sqm).
The highest demand came from FMCG companies, with almost 50% of the total (172,000 sqm), production (60,000 sqm), and those with activities in the field of distribution and logistics (54,000 sqm).
Logistics and industrial properties totaling 600,000 sqm could be completed this year, raising the whole inventory to over 5 million sqm, according to JLL.
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