The deliveries of new industrial and logistics spaces in Romania could reach a 20-year high this year, despite slower activity in the first half.
After 312,000 sqm of industrial and logistics spaces were completed in the first half of the year, another 350,000 sqm will be delivered by the end of the year, real estate consultancy firm CBRE estimates.
The expansion of the online retail during the pandemic prompted increased demand for logistics spaces.
According to CBRE data, by the end of 2020, the logistics space market will exceed five million sqm. Over 1.5 mln sqm could be added in 2021 - 2022.
"Reaching a stock of 5 mln sqm means that we will have an industrial stock per thousand inhabitants of approximately 260 sqm. For comparison, in the region, we have a minimum of 347 sqm in Hungary, and a maximum of 824 sqm in the Czech Republic, while Poland has 510 sqm. Therefore, there is still room for growth," said Daniela Boca Gavril, head of research at CBRE.