The fourth quarter of 2024 was particularly strong, with the Group signing a record 95,000 sqm in leases with new tenants – nearly double the volume reported in the same period of 2023. This unprecedented leasing momentum contributed to a significant reduction in the Group’s vacancy rate to just 5% (down from 8%), well below the market average of approximately 8%.
“Both the final quarter and the full year were record-breaking for us, even though we do not chase volume for its own sake. As a developer, we remain focused on expanding exclusively in core locations across Europe, ensuring long-term and sustainable growth and business security. We do not engage in opportunistic projects outside our strategic markets. This approach has allowed us to achieve record leasing performance while also significantly extending the average lease term to 8 years – a testament to the successful execution of our growth strategy,” said Agnieszka Góźdź, Member of the Management Board and Chief Development Officer at MLP Group S.A.
Leasing activity was primarily concentrated in MLP Group’s logistics parks located in the “Big Five” markets. The leased spaces ranged from 1,000 sqm to nearly 25,000 sqm, with the average transaction size exceeding 7,000 sqm.
Among the 2024 lease transactions concluded in Romania by MLP Group are those with NRF and Maracana. A leading supplier of automotive spare parts and industrial cooling solutions, NRF has signed a long-term lease agreement for 20,100 square meters within the MLP Bucharest West logistics center. The space, which includes 18,600 sqm for storage and 1,500 sqm for modern offices, is due to be completed and handed over to the tenant in November 2025.
Transport and logistics company Maracana has extended its lease for 5,000 sqm in the MLP Bucharest West logistics park in 2024. Maracana moved its operations to the park three years ago, and a year later expanded the area by another 5,000 sqm, occupying 10,000 sqm for offices and a warehouse.
These transactions reflect the companies' confidence in the facilities offered by MLP Group and the strategic position of the MLP Bucharest West park in the Bucharest region.
The outlook for 2025 remains highly promising. “We will continue focusing on expansion in major metropolitan areas, which remains our strategic priority. At the turn of the year, we launched projects totalling over 300,000 sqm in leasable space, of which approximately 30% has already been pre-leased, with an average lease term of 10 years. This significantly increases the likelihood of achieving full commercialization before construction is completed,” added Agnieszka Góźdź.
MLP Group’s record-breaking performance has been driven by its expanding portfolio and the ability to tailor projects to tenants’ specific requirements. The Group has also been successfully implementing a sustainability strategy, investing in environmentally friendly solutions and advanced technologies to enhance the long-term attractiveness of its assets.
In line with its “build & hold” strategy, MLP Group retains ownership of its logistics parks upon completion and manages them directly. All Group projects are distinguished by their prime locations, built-to-suit solutions, and comprehensive tenant support throughout the lease term.
