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.
RetuRO, the administrator of the Deposit Return System, the largest circular economy project, has opened opening the sixth regional centre for counting and sorting DRS packaging in Almăj, Dolj County, near Craiova, within the Global Vision industrial park. The centre will manage, and process beverage packaging collected from retailers. It will mainly serve the southern part of the country.
The Modulis project perfectly aligns with the current market requirements by launching the second phase, which introduces the "Small Industrial Unit" warehouse concept. These units are especially intended for light industry, offering compact spaces, extremely flexible and characterized by a high degree of operational independence.
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.
WDP acquires a portfolio comprising 136,374 m² of leasable area in standing assets and a large plot for future development with total potential GLA of over 300,000 m² in Greater Bucharest, Constanta, and Targu Mures, Romania, representing an investment of around 110 million euros. The portfolio consists of three Class A warehouse and light industrial projects, let to a variety of high-class tenants. The seller is a joint venture between Globalworth and Global Vision, leading real estate investors in CEE.
Companies leased 410,500 sq. m of industrial & logistics spaces in H1, a total which reflects a 25% drop when compared with H1 2023. However, the new demand had a share of 52% in the overall leasing volume in the same period (213,500 sq. m), more than double vs. the new supply, according to data from the Cushman & Wakefield Echinox real estate consultancy company.
The logistics and industrial park developer ELI Parks, one of the most active on the local market, has signed a long-term lease for a 3,850 sqm space with LPR – La Palette Rouge, within ELI Park Ploiești.
Deloitte Romania assisted the Belgian industrial and logistics real estate developer WDP in the acquisition of Global Logistics Chitila, Targu Mures Logistics Hub and Black Sea Vision, from a joint venture between Globalworth and Global Vision. The three acquired entities own a portfolio of assets comprising three warehouse projects of 136,374 sqm and a large plot of land in Constanta, with a total potential gross leasable area (GLA) of over 300,000 sqm, for development in the near future. The transaction was signed in June and closed in July 2024, having an estimated value of 110 million euros.
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