C&W Echinox: Industrial and logistics sector in Romania to reach record growth in 2017

The industrial and logistic sector from Romania will register this year a record level of deliveries, up to approximately 480,000 sqm, but the retail market will reach a minimum record of the last 14 years, with an approximate level of 70,000 sqm, according to a report by the real estate consultancy C&W Echinox.

In the first semester of this year, new commercial spaces with a surface of only 9,000 sqm were delivered, according to the report, respectively the first stage of the project Prima Shops from Oradea and the expansion of the commercial gallery of Carrefour from Brasov. In the first half of 2016, the amount of commercial spaces delivered stood at 69,000 sqm.

„In the second half of the year, new retail spaces with a combined surface of approximately 60,000 sqm will be launched, so that the overall level of delivered commercial spaces in 2017 will be close to 70,000 sqm. In 2016, new spaces were delivered for modern retail worth 237,000 sqm. The stock of the modern retail spaces will exceed the level of 3.4 million sqm until the year end,” says the report.

In industrial sector, the deliveries from the first half of the year fell by 64 percent up to 80,000 sqm, compared with 175,000 sqm in the first semester of 2016. The share of Bucharest in the overall deliveries remained constant to around 60 percent.

„Unlike the retail sector, the industrial sector will recover in the second half of the year, when are scheduled new spaces for delivery with a combined surface of approximately 480,000 sqm in all the areas of the country. Thus, with deliveries of approximately 480,000 sqm, 2017 is set to be the best year for the industrial sector regarding the offer of new spaces. As a result of this evolution, the industrial and logistic spaces stock will exceed the level of 3 million sqm at the end of the year,” says the report.

The total value of the real estate transactions from Romania reached EUR 530 million in the first half of this year, a growth by 43 percent compared with the same period of 2016.