Considering the transactions value, the land market has registered last year a total of EUR 127 million, with 41 pct increase compared to 2015, according to the latest market study made by Cushman & Wakefield Echinox.
The market was strongly influenced by the residential sector, which has attracted investors in the north of the city, as well as by the logistic sector, which continues its development in the west, in the proximity of the A1 highway Bucharest-Pitesti. Therefore, nearly 90 pct of the total area of the lands transacted last year is intended for residential projects development (62.8 pct.) or logistics projects (26.4 pct.)
Largest transaction, both in volume and value, was represented by the acquisition of Vastint group of a plot of land of 48 hectares in Baneasa area, in order to develop a mixed-use project, mainly residential.
A mixed-use project will be also developed on the plot of the former Automatica factory in Floreasca district of Bucharest, bought last year by the groups One United and Auchan. The project will be mainly residential, also featuring retail and office spaces.
One United was the most active local investor in Bucharest land market, the group counting three acquisitions in the centre-north of the city in order to expand its residential projects portfolio.
Other investors such as Prime Kapital, Morad Group and Shikun & Binui have also bought important plots of land in Pipera area in order to develop residential projects.
On the other hand, the transaction activity in the field of lands for office buildings was lower and focused on smaller plots in central areas, such as Calea Victoriei, where the Belgian group Atenor bought a plot with more than 5,000 sqm for the development of the project Dacia I.
„We expect to see this year an increasing activity of the office developers, on the background of a quite limited new projects stock for the period 2019 – 2020”, says Alexandru Mitrache, Commercial Land Development la Cushman & Wakefield Echinox. (source: mediafax.ro)
