VGP, a European provider of high-quality logistics and semi-industrial real estate, has leased a 4,580 m² space to Rondocarton Romania at VGP Park Timișoara for storage operations. This partnership underscores VGP’s commitment to supporting the expansion of innovative and sustainable companies like Rondocarton by providing efficient and eco-friendly industrial spaces.
The demand for logistics and industrial spaces reached 575,000 sq. m during the first 9 months of this year, a decrease of 20% compared with the same period of 2023, according to the Cushman & Wakefield Echinox real estate consulting company. The new demand accounted for 86% of the transacted volume.
The developer of logistics and industrial spaces ELI Parks, one of the most active on the profile real estate market in Romania, has announced the expansion of Dr. Max Romania's operations within ELI Park Iași.
The total stock of industrial and logistics spaces in Romania could reach the 8 million sq. m threshold at the end of 2025, if the recent annual development pace of ~500,000 sq. m is maintained. As of mid-year, over 7.125 million sq. m were operational nationwide, with more than 50% of these projects being located in the Bucharest – Ilfov and West regions of the country. The least developed regions in this regard are South – East and North – East, according to the Romania Industrial & Logistics Market report produced by the Cushman & Wakefield Echinox real estate consultancy company.
VGP NV has announced results for the first half of 2024. Compared to the first half of 2023, profit before tax has increased by 218%. The company has also concluded a record volume of new rental contracts.
VGP, a European provider of high-quality logistics and semi-industrial real estate, signed a lease agreement with Miele Tehnica Brașov, a subsidiary of the German Miele group, for 2,000 square meters, within VGP Park Brasov.
Romania recorded a 131% y-o-y growth of the real estate transaction volume during H1 2024, reaching a level of €418 million, corresponding to the highest growth rate in the Central and Eastern Europe (CEE). This significant evolution places Romania 3rd in the region, following Poland and Czechia, surpassing Hungary and Slovakia. The retail and industrial segments were the main drivers on the local market, accounting for 90% of the total volume, while office transactions comprised just 4%, according to data from the Cushman & Wakefield Echinox real estate consultancy company.
VGP, a European provider of high-quality logistics spaces and semi-industrial real estate, has started the construction works to expand building B at VGP Park Brașov. This phase will add an additional 13,813 m² to the existing 20,920 m² already leased, thus addressing the growing demand for modern logistics spaces in the region.
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