ELI Parks, one of the most active developers on the logistics and industrial real estate market in Romania, has leased a 5,400 sqm space to the animal product distribution company Altius and its affiliate company PetMart, within ELI Park 4 Bucharest.
ELI Parks, one of the most active developers of logistics and industrial parks in the Romanian real estate market, announces the signing of a long-term lease agreement with Sika Romania, a manufacturer of construction products and solutions, addressed to the various phases of construction in residential structures, industrial and engineering. The agreement includes a logistics space within ELI Park 4 Bucharest.
The modern stock of industrial and logistics spaces exceeded 7 million sq. m across the country at the end of 2023, almost 80% of the total stock being concentrated in 3 development regions – Bucharest – Ilfov, West and South-Muntenia. Projects with a total area of around 452,000 sq. m were delivered in Romania in 2023, corresponding to a 46% decrease compared with the previous year, a contraction which was caused by a reduced development activity on speculative basis, according to data from the Cushman & Wakefield Echinox.
VGP NV ("VGP", or “the Group”), a European provider of high-quality logistics and semi-industrial real estate, is pleased to announce the establishment of a new 50:50 Joint Venture named “Saga” with Areim, an independent fund manager and property owner headquartered in Stockholm.
VGP, a European supplier of high-quality logistics and semi-industrial real estate, announces a new step in its development, namely the full lease of the first building in VGP Park Arad. The most recent client, who rented an area of 10,000 m2 and whose space was handed over recently, is FAN Courier.
Industrial and logistics projects accounting for more than half a million sq. m are currently under construction and due to be delivered by the end of 2024, 60% of which being already pre-leased.
Cushman & Wakefield Echinox coordinated the BREEAM Excellent certification process for the 550,000 sq m logistics park portfolio in Romania and Hungary, owned by eMAG, one of the largest online retailers in Eastern Europe. The certification recognizes the sustainability performance of buildings by implementing energy efficiency and environmental impact reduction measures.
The real estate and construction sector attracted approximately €1.2 billion of foreign direct investments (FDI) in 2022, as the share of this economic activity in the overall FDI stock stood at 17.2% at the end of 2022, according to data from the National Bank of Romania analyzed by the Cushman & Wakefield Echinox real estate consultancy company.
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