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News Release

Bucharest

Demand rose over 50% in H1 2017 on Romanian industrial market


Industrial and logistics spaces gross take-up in Romania grew by 54 percent in the first half of the year, compared with the same period of 2016, to 350,000 sqm.

According to the data of JLL Romania, the total demand of industrial spaces reached 180,000 sqm in the second quarter, a comparable level with the one registered in the first quarter of this year.

The industrial net take-up activity registered a level close to 230.000 sq. m, up 51% compared with same period in 2016, representing cca 65% of the gross take-up.

 

 "The industrial and logistic market demand exceeded our estimations, the contracts signed in the first half of the year being over the level that we predicted for the entire year. If the current growth trend is maintaining, we can see a new record of the demand, taking into account that in the last year the gross take up registered a historical record level of 460,000 sqm," said Costin Banica, associate director, head of Industrial Agency JLL Romania.

Since the beginning of the year, three new projects were completed in Romania, comprising 72,000 sqm and other 312,000 sqm will be delivered until the end of the year.

The new demand of industrial spaces exceeded 3 times the new offer and the vacancy level is still maintained extremely reduced, considering that the new projects are almost completely leased at the delivery. Existing stock of industrial and logistic spaces in Romania reached 2.7 million sqm.

By activity, the retail and the logistics companies are the drivers of the market, account 65% of the total demand, followed by production companies (22%).

Close to 70 percent of the logistics and industrial spaces rented in the first six months of the year are in Bucharest.

H1 top leasing agreements:

                                                                                                       

ProjectCompanyCityArea (sqm)
CTPark BucharestDSVBucuresti55.000
CTPark km 23DSVBucuresti35.000
CTPark Bucharest WestNODBucuresti31.000
WDP RomanProfiRoman27.000
Cateasca (Arges)ArcticPitesti21.000
P3Tibbett LogisticsBucuresti17.000
P3AltexBucuresti15.000
WdpCarrefourBucuresti11.500
LogIQ MogosoaiaFildasBucuresti11.500