Romania emerges as third-biggest industrial/logistic destination in the region
Romania is the third market in Central and Eastern Europe, after Poland and the Czech Republic, and it stands very good outlook for further development, according to Rodica Tarcavu, Partner Industrial Agency, Cushman & Wakefield Echinox attending a conference dedicated to the sector.
She expressed expectations for a stock of 6 million square meters in the country, with a high concentration in the Bucharest area covering almost 50%.
At the moment, the stock (logistics only) is about 2.5 million square meters, "but we could reach 3 million next year, proof of the still great potential of this development area," added Rodica Tarcavu, quoted by Wall-street.ro.
The modern stock of industrial spaces (logistics included) in Romania exceeded the threshold of 5 mln square metres in 2020.
It is to reach approximately 5.5 mln sqm this year, over 60% of the area under construction being already pre-leased, according to CBRE Romania.
At the national level, approximately 400,000 sq m of industrial spaces are currently under construction, an area of over 60% being already pre-leased, according to CBRE Research data.
Thus, after in 2020 the stock of industrial spaces in Romania increased by over 570,000 sqm, the development activity continues to be alert this year as well, driven by the degree of vacancy of only 8% nationally.
With an existing stock of 2.3 million sqm, Bucharest and its surroundings, respectively Ilfov, continue to attract the largest volume of new developments, over 140,000 sqm being under construction.
In the next place, with a stock of 1.2 million sq m, is the northern and northwestern region of the country, which includes Timisoara, Arad and Cluj-Napoca.
In this area, the developers have under construction approximately 130,000 sqm, of which over 100,000 sqm are in Timiş County, according to CBRE's Romania Industrial Destinations report.