At the same time, Zacaria consolidated its position in the commercial segment, by signing with two important players in the home & deco sector, Naturlich and Jysk.

Rental transactions
Zacaria, one of the largest owners of industrial spaces in Romania, managed to conclude in 2020, new leases for a total area comparable to 2019, despite the imbalances in the market caused by coronavirus.
“2020 was not as spectacular as we hoped in 2019, but we had a healthy growth and we ended at a much higher level than expected at the beginning of the year. At the beginning of the pandemic, we reanalyzed our sales targets and adjusted our strategy for this year, but fortunately, our business model proved so effective that we managed to exceed the targets we had revised. I believe that our success in 2020 was due to the close relationship we have with our customers, for which we have found solutions to get through difficult times, our resilience and the ability to adapt quickly to changes in the market", said Jonathan Diamantino, Chief Executive Officer Zacaria.

• Craiova
By signing with six new clients in 2020, the two buildings in Southern Industrial Park, with a built area of 40,000 m2, were fully leased. Currently, the park includes 17 companies in various fields of activity, from transport and production to e-commerce. “We are very pleased that Southern Industrial Park has been transformed from a simple idea into one of the most successful projects in our portfolio and in Craiova. We continue to focus on better serving existing customers and, at the same time, channel our efforts to begin work on the third Class A industrial building in the park", said Marius Moga, Sales & Marketing Director. For this building, which will have a usable area of 13,200 m2, Zacaria intends to develop a built-to-suit project for a profile client. "Craiova has not yet reached its maximum potential. We expect considerable economic growth in the area, especially after the completion of the Craiova-Pitești Express Road, which will open opportunities for new investments and will consolidate the already existing ones", added Marius Moga.

• Sibiu
One of the most interesting transactions of the year was the one with ASOLO. The well-known Italian manufacturer of outdoor footwear has signed for the lease of an industrial space of 3,600 m2. The company will start production in the new location in Network Industrial Park in early 2021. The occupancy rate of the park, located in the eastern industrial area of Sibiu, is now 93% and it is estimated that it will be fully leased at the end of the first quarter of 2021.
In addition, for the Imperial park in the western part of Sibiu, which was modernized in a new retail center, Zacaria managed to sign with two major clients on the furniture and decorations market, namely Naturlich and JYSK. Thus, the park has become a real shopping destination in the home-deco, garden and landscaping segment.

• New projects
“We expect a very good start for 2021, as a result of market movements, as well as the demand for Class A spaces. So, our next step is to expand the park in Craiova with a third building, as well as the start of works on a new industrial park in Pitesti, where we will start booking units that can be customized according to individual customer requirements", said Marius Moga.

Residential projects
In the last quarter of 2020, despite the unfavorable economic situation and restrictions, Zacaria maintained a good pace of transactions for the project of 182 apartments in Băneasa, Valletta Residence, managing to reach its target, that of completing sales in 2020. At the same time, sales in the American Village complex, in Pipera, remained constant, as demand for garden houses increased. In addition to the remaining available villas, the development of six low-rise apartment blocks will begin here in the second quarter of 2021.
Work on the new residential project developed by Zacaria in the historic center of Craiova will begin in the 3rd quarter. Valletta Towers will include 250 apartments with two underground levels for parking, plus a Boutique Mall, located inside a historic monument building with a unique and beautiful architecture. The plan is for the residents of the neighborhood to have access to this center, which will house various shops, through an underground passage.

Implications of the pandemic
The Zacaria team was always operational and ready to support its customers, and the company's activity was not disrupted, while also managing to ensure a remarkable growth despite the difficult times. "This year has been a rigorous test for many companies, a test that Zacaria, we can proudly say, has passed brilliantly, proving that it will continue to withstand any challenge", concluded Jonathan Diamantino.

Zacaria is part of the international group Alf Mizzi & Sons, which was founded in Malta more than 100 years ago. The company started its activity in Sibiu, in 2005, and today it is one of the largest owners of industrial spaces in the country. (source: Zacaria)