The Central and Eastern European (CEE) industrial real estate market slowed down in the first quarter of 2024, following a period of sustained growth and record activity in 2021 and 2022, a study by iO Partners shows.
VGP, a European provider of high-quality logistics spaces and semi-industrial real estate, marks a new stage in the development of VGP Park Timișoara by expanding the logistics park, with the construction of the eighth building. With a generous leasable area of 32,768 m², of which 11,575 m² are still available, this new building offers adaptable and efficient spaces to meet the diverse needs of clients.
IBB Holding Group, one of the leaders in Romania’s construction industry, has inaugurated a new concrete plant in Mogosoaia, in the northern area of Bucharest, following an investment of 7.5 million RON.
VGP, a European provider of high-quality logistics spaces and semi-industrial real estate, has initiated the construction of the third building in VGP Park Bucharest North (A3), marking a new milestone in the development of logistics infrastructure in the region. Building A covers an area of 25,950 m2 and has already two significant tenants, who have signed lease contracts for a total of 8,158 m2. This achievement underlines the attractiveness of the project.
H.Essers is expanding its footprint in Romania. It is constructing a new warehouse for crop protection products and seeds for Agricover, a major player in agribusiness in the Romanian market. This new development, encompassing 10,000 m² of new warehousing capacity on H.Essers’ high Seveso site in Bolintin Deal, enhances Agricover’s logistics capabilities and marks the next level in the partnership between Agricover and H.Essers.
MLP Group has completed phase two expansion of MLP Bucharest West, its logistics park near Romania’s capital city. The new facility has delivered 16,000 sqm of space designed to contemporary standards, which has already been fully leased.
The furniture manufacturer Spectral Mobilă, which owns a factory in Vaslui county, has started the construction of a logistics center that will require an investment of 8.5 million lei.
The modern stock of industrial and logistics spaces exceeded 7 million sq. m across the country at the end of 2023, almost 80% of the total stock being concentrated in 3 development regions – Bucharest – Ilfov, West and South-Muntenia. Projects with a total area of around 452,000 sq. m were delivered in Romania in 2023, corresponding to a 46% decrease compared with the previous year, a contraction which was caused by a reduced development activity on speculative basis, according to data from the Cushman & Wakefield Echinox.
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