At the end of last year, the modern industrial space stock in Romania reached 3.75 million square meters, over 1.9 million square meters being built around Bucharest. Thus, the West area of the Capital, along the Bucharest-Pitesti highway, continues to be the most important logistics hub in Romania, accounting for about 70% of the Bucharest stock.
In 2018, projects totaling more than 400,000 square meters of industrial and logistics space were completed. The largest projects completed in 2018 include CTPark Bucharest West (115,000 sqm), WdP Pitesti (60,000 sqm) and P3 (55,000 sqm). For the year 2019, developers announced the construction of another 500,000 square meters, maintaining the trend of recent years.
"Given the projects under development, we estimate that by the middle of this year the stock will exceed 4 million square meters," the JLL representatives said.
For the third consecutive year, total demand in 2018 was around 500,000 square meters. A strong development was noted in the last quarter of the year when contracts for 324,000 square meters of industrial and logistics space were signed, or 60% of total demand. Bucharest attracted most of the demand, namely 66% of the total, followed by Timisoara and Deva.
Most of the demand came from retail companies, which leased 265,000 sqm (almost half of the total), followed by distributors and logistics companies (17%) and consumer goods companies (12% ).
At the end of 2018, the vacancy rate remained below 5%, given the low number of speculative projects, and rents ranged from 3.5-4.1 euro / sq m / month. (Source: forbes.ro)