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Romania MarketBeat

Oana Iliescu • 11/30/2021

Office Space Bucharest

The total leasing activity in Q3 2021 was of 93,900 sq. m, thus bringing the total for the first 9 months of the year to 212,900 sq. m, an increase of 33% when compared with the same period of last year. Net take-up (excluding renewals) had a share of 56%, a level mostly consistent with the previous quarters.

Tenants from the T&T and Medical sectors remained highly active in Q3, having a combined share of 41% from the total transactional volume, while the expected overall leasing activity for the whole year is expected to break the 300,000 sq. m threshold.

Get more data by downloading the office report.

Logistics Real Estate in Romania

Construction activity went full speed on several sites during the summer, thus developers managed to deliver new buildings with a total area of 131,200 sq. m. The most significant deliveries were represented by LPP’s 22,000 sq. m expansion of the distribution center within WDP Park Stefanesti, while CTP delivered the second phase of CTPark Bucharest North.

After 9 months, the new supply reached 338,600 sq. m, while for the entire year the deliveries are expected to exceed 500,000 sq. m. The vacancy rate in Bucharest continued to decrease, reaching 5.6%, with an overall level of 4.7% across Romania.

Get more data by downloading the industrial report.

Retail Real Estate in Romania

There are currently new schemes or extensions to existing projects totaling around 120,000 sq. m which are under construction and are expected to be delivered by the end of 2022, while other important projects amounting to more than 460,000 sq. m are under different planning stages.

The most significant projects under construction are represented by Prahova Value Centre in Ploiesti, the extension of Colosseum Mall in Bucharest or Barlad Value Centre in the Moldova region. In terms of developers, Prime Kapital (in joint-venture with MAS Real Estate), Scallier and Mitiska still have the most consistent pipeline, aiming to extend their presence in Romania.

Get more data by downloading the retail report.

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