Record deliveries in Romania's industrial & logistics real estate sector
The industrial and logistics real estate sector in Romania will see a record level of deliveries this year, namely about 480,000 sqm.
The deliveries in the industrial sector dropped by 64% year-on-year reaching 80,000 sqm in the first six months of this year. However, they are expected to significantly increase in the second part of this year, to about 400,000 sqm.
Meanwhile, the deliveries on the retail market will reach a historical low in the last 14 years, with about 70,000 sqm, according to a report of C&W Echinox. About 9,000 sqm worth of retail space were finalized in the first six months of the year. They included the first stage of the Prima Shops project in Oradea and the expansion of the retail space owned by Carrefour in Brasov.
By comparison, Romania saw 69,000 sqm of retail space deliveries in the first half of 2016.
The volume of deliveries in the retail market will increase to about 60,000 sqm in the second part of this year. It will remain low compared to last year, when it amounted to 237,000 sqm.
The total value of real estate transactions in Romania reached EUR 530 million in the first six months of this year, up 43% year-on-year.