„Following P3’s intense activity in the counties in the region, we think Romania is the next zone to grow, as there are lots of opportunities, such as the strategic position, the high educated personnel, the productivity, the labour costs ", Hategan says.
Therefore, Romania is an attractive destination for the relocation of the European companies factories and could become a production hub for the entire Europe.
"Romania could be a key production zone for Europe, and the European companies which opened production facilities in china, for instance consider Romania as attractive for relocate here the existent production units. There are signs of such relocations and this is the reason we decided to come in Romania three years ago. If we only take a look at the automotive and furniture industry, this seems very clear”, Hategan explained.
In this context, the investments in logistic projects and production facilities become interesting for the players in the field and for P3 Romania is on the list of the destinations where investments are being planned.
The company P3 was bought in October by TPG and Ivanhoé Cambridge, which have committed to the company’s development.
The company has development plans and acquisitions in Romania too. According to Nora Hategan P3 intends to develop “built-to-suit projects in some key locations in Romania, we currently analyze over 150,000 sq. m, being focused also on the portfolio acquisition in key zones in Romania, such as Bucharest and western country”.
“In Romania the speculative developments were limited in the last years, mainly due to the bank’s activity which didn’t provided any more loans, but currently we see an ease of the conditions asked by the banks. Therefore, the banks we work with in the Western Europe too have confirmed the interest to invest with us in logistic and industrial projects. This phenomenon takes place in all Europe. What was once considered being the Far East, such as Romania, now it is considered a safer market, which still has certain challenges”, Hategan said.
According to P3’s manager, Romania will develop in the next years on this segment.
„For instance, we notice a growth in request of production facilities in the last years which maintained constant and would eventually stimulate the logistics market too. We consider this year and 2015 to be years when Romania will develop more than it did by now, but however we do not see a revival of the speculative developments ”, concluded Nora Hategan. (source: wall-street.ro)
