A continued recovery in the CEE industrial sector is expected with increasing demand and low vacancy. Although the major international industrial developers have sites across the region, they are still focusing speculative development on Poland and Western Europe. Development activity in CEE is driven by built-to-suit projects with limited speculative investment. In general development activity is on the up in the Czech Republic while the Hungarian market is stagnating as it suffers from high vacancy rates.
PointPark Properties (P3), the specialist investor, developer and asset manager of warehouse properties, saw a resurgence in its development activity in 2013, including some speculative building, as the logistics market tightened across the EU, but particularly in Central European markets such as the Czech Republic and Poland. Already high P3 occupancy rates picked-up, and the increasing dearth of available space meant a slight fall in new leasing deals relative to 2012’s robust volumes.
Industrial prices in Romania dropped 0.1 percent in January 2014, compared with the previous month, while on the foreign market they went up 0.3 percent, according to the data released by the National institute of Statistics (INS) on Tuesday.
An 8% increase in industrial output and a superior harvest helped the Romanian economy grow in 2013 at the faster pace in five years, surpassing every expectation.
The question remains as to when Romania will regain its status as a popular destination for investors and developers with a yield premium on Central Europe and office and retail development opportunities in Bucharest and major regional cities.
AEW Europe today announced that it has raised an additional €85 million in equity from both existing and new investors for the LOGISTIS Fund taking the total equity in the fund to €600 million. This equity raising is part of the LOGISTIS’s strategy of growing the Fund’s portfolio with a target to invest in new logistics assets in Germany and Benelux.
Ared, one of the strongest residential developers outside Bucharest also operates on the logistic and office segments through its project Business Park UTA1, EUR 29 million investment, including 45,000 sq. m warehouses, 3,000 sq. m offices and commercial spaces.
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