Latest News  

JLL: Romania will finish this year projects worth 800 mln. euro

Developers are expected to deliver over 700,000 sqm of new real estate projects in 2016, with a combined investment value of over EUR 800 million. Office buildings will remain in the top of developers' preferences, followed by retail and logistic.

2016-01-22 13:21:32 - by Bogdan Tudorache

Record deliveries planned for 2016 across all market sectors is proof that the investors' confidence in the Romanian market is picking-up.

Among the largest office projects planned to be delivered in 2016 are Bucharest One (a 50,000 sqm GLA, EUR 95 million investment by Globalworth), HBC 2&3 (a 45,700 sqm GLA, by Atenor) and Oregon Park (a 45,000 sqm GLA, EUR 90 million investment by Portland Trust).

However, as a downside, a larger offer could translate into a higher vacancy rates and pressure on the rental levels, while the market could shift in favor of the tenants.

"After the vacancy rate declined to about 13 percent in 2015 and rents remained relatively stable, the high level of new deliveries will result in an increase in vacancy rate and consequently in a slightly decreasing trend for rents, given a constant demand in recent years," said Marius Scuta, national director, head of office department and tenant representation JLL.

The retail sector will see the delivery of over 237,000 sqm, increasing the current stock, which is estimated at 2.8 million sqm, by about 10 percent. The majority of the deliveries are new projects and over half of them will be in Bucharest (125,000 sqm).

"It is expected that Romania's consumption will increase by 5 percent during next two years. This combined with the fact that the future projects are located in cities where economic indicators sustain development, rents will not be influenced by this space increase", according Adelina Oprita, consultant Retail Agency JLL.

Important retail projects to be delivered in 2016 include Park Lake Plaza Bucharest (a 67,000 sqm GLA, EUR 180 million investment by Sonae Sierra) and Shopping City Timisoara (55,700 sqm GLA, EUR 81 million investment by NEPI).

The industrial stock, which is expected to reach 2 million by the end of the year, following a 15,000 sqm addition, will increase by some 195,000 sqm in 2016. The largest investments in this sector will come from P3, with its 81,000 sqm GLA, P3 Logistic Park Bucharest (EUR 35 million), preleased by Carrefour and from Immofinanz with Log Center Mogosoaia (40,000 sqm GLA, EUR 32 million) and Tetarom with Tetarom 3 Cluj (36,000 sqm GLA).

"Even if we see an increase in business development and logistics industrial projects, investors still remain cautious on the logistics market so most of the new premises will be built after the signing of a pre-lease contract; most projects are extensions of existing major parks, which also show the developers' reserved approach, who prefer construction in phases. Regarding industrial production spaces, developers are choosing investment destinations according to the availability and costs of labor", said Cristina Pop, Head of Industrial Agency JLL.


0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
Logicom launched Cloud Marketplace platform in Romania

Logicom, one of the leading distributors of IT solutions and services and Microsoft Cloud Solution provider, announced the launch of Cloud Marketplace platform in Romania.

 Read Full article »
Excelian Luxoft Financial Services strengthens Its APAC presence with the acquisition of derivIT

Luxoft Holding, leading provider of software development services and innovative IT solutions to a global client base, announced that it has entered into a Share Purchase Agreement to acquire derivIT, a Singapo

 Read Full article »
SAP: Only four percent of companies offer customer experience based on contextual data to clients

According to latest findings of business and technology software solutions provider SAP conducted together with CMO Council, only four percent of companies offer real time customer experience based on contextua

 Read Full article »
Manpower: One out of three Romanian companies will hire people in second quarter, 2017

About a third of employers in Romania anticipate an increase of the number of employees in the second quarter of 2017, while only 7 per cent of company representatives foresee a drop of personnel, according to

 Read Full article »
Luxoft depicts top five global trends in software in 2017

According to the latest findings of software and It solutions provider Luxoft, transforming industries and business models within the context of accelerated innovation and strengthened disruptive technologies p

 Read Full article »
Oracle surpasses 9 billion US dollars worth revenues globally

Oracle Corporation announced fiscal 2017 Q3 results with total revenues up to 9.2 billion US dollars, a 2 per cent increase in US dollars and up 3 per cent increase in constant currency, the financial report st

 Read Full article »
Accenture Research: Three critical accelerators to closing the gender pay gap for class of 2020

Women graduating from university in developed markets in 2020 could be the first generation to close the gender pay gap in their professional lifetimes, according to new research from Accenture

 Read Full article »
CA Technologies positioned a leader for identity governance and administration

CA Technologies (NASDAQ:CA) has been positioned by Gartner, Inc., in the Leaders quadrant of the 2017 Gartner Magic Quadrant for Identity Governance and Administration (IGA).

 Read Full article »
SAP and Google announce co-innovation strategic partnership for global enterprises

During the Google Cloud Next '17 conference in San Francisco, the two companies announced the signing of a strategic co-innovation partnership between our two companies to help global enterprises run their busi

 Read Full article »
Voxpro opens office in Bucharest and hires 150 people

Multilingual business process outsourcing services provider Voxpro based in Cork, Ireland announced it would expand operations with a new office located in Bucharest where it plans to hire 150 people.

 Read Full article »
 
MOST RECENT VIDEO
 
 
MOST READ ARTICLES
» ROMANIAN OUTSOURCING AWARDS FOR EXCELL...
» Luxoft surged 40 per cent in 2015 – ...
» Exclusive OT print issue: Genpact may ...
» Manpower:Romania has world's third hig...
» SocGen's EBS division to grow 60%, exp...
» Bombardier: from Bucharest subway to t...
» People in Shared Services and Outsourc...
» Omnichannel: 4 pillars of a purposeful...
» Companies such as Endava and Fortech d...
» DB Global Technology: 40 per cent of t...
 
EDITOR CHOICE
TELUS International Europe: More proactive, personalized customer experience, thanks to the Internet of Things (IoT)

Industry research is apt to say we're on the cusp of a future full of "smart" devices — that is, billions of everyday items embedded with wireless internet connectivity

 Read Full article »
Romanian Outsourcing Summit: Focus on the added-value of business shared services in Romania

This year's edition of Romanian Outsourcing Summit joined representatives of the government and top representatives of leading companies operating in the sector of business shared services and related industrie

 Read Full article »
Romanian Outsourcing Summit reaches its third edition

OUTSOURCING TODAY, the integrated communication platform of the business services sector, powered by The Diplomat Bucharest, presents the Third Edition of the ROMANIAN OUTSOURCING SUMMIT on March 23rd 2017, at

 Read Full article »
The most critical Key Performance Indicator (KPI) in social media customer service

Measuring the impact that your social media interactions are having on your business — and your bottom line — can be a tricky endeavor. How can you really identify and quantify whether a particular social m

 Read Full article »
SAP employees to teach programming to scholars in Cluj-Napoca

Ten volunteers working for SAP company together with Cartea Daliei association will organize a Scratch programming teaching club to function at Emil Isac school based in Cluj-Napoca, the company announced.

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events