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
TEDxBucharest welcomes 19 international speakers on the stage at the end of this November

The TEDxBucharest conference series reaches its tenth edition to happen between November 30 – December 1, at Auditorium Pallady, with 19 international speakers on the stage.

 Read Full article »
Office market demand in Bucharest reached 220.000 sqm in the first nine months of 2018

The office market demand is estimated to have reached 220.000 sqm in the first nine months of 2018, according to the latest study findings delivered by CBRE.

 Read Full article »
The missing link- Growing a solid entrepreneurial culture

Within a developing yet solid market where the necessary factors are on the table - investors, strong academic life, work force, skills and private companies operating countrywide - it seems that the evolution

 Read Full article »
Office leasing transactions up to 73.500 sqm in Bucharest in Q3 of 2018

The office market in Bucharest registered a total volume of 75,300 sqm of rental transactions in the third quarter of 2018, of which the new demand was 20,400 sqm. According to Colliers International real est

 Read Full article »
Violeta Luca is the new GM of Microsoft Romania

Microsoft announces the appointment of Violeta Luca as the new General Manager for the company's operations in Romania, starting November this year.

 Read Full article »
Oracle delivers personalized digital assistants for companies

Oracle announced the availability of Oracle Digital Assistant, enabling companies to build personalized digital assistants to help employees work smarter and more productively.

 Read Full article »
Verint opens cyber Research & Development center in Romania

Verint Systems announced the opening of a Cyber Intelligence Research and Development center in Romania. This new facility will offer Romanian IT professionals a unique opportunity to contribute to making the w

 Read Full article »
Microsoft leased 23.000 sqm offices in Skanska's Campus 6

Microsoft has leased 23,000 square meters of office space and 500 parking spaces in Skanska's Campus 6, in Bucharest, Romania. The start date of the lease is in the third quarter of 2020 and it is estimated to

 Read Full article »
DCA Romania expands outside Bucharest with a new call center

DCA Romania, the company's top five largest debt brokers in the country, opened in October its first call center outside Bucharest, the company announced in a press release.

 Read Full article »
Romanian fintech start-up Fintech OS was accepted into the Microsoft accelerator program in London

Fintech OS is also the first Romanian start-up that joins the Microsoft UK accelerator, after having passed a complex registration and selection process.

 Read Full article »
 
 
MOST READ ARTICLES
» ROMANIAN OUTSOURCING AWARDS FOR EXCELL...
» Molson Coors started to grow its busin...
» Office market demand in Bucharest reac...
» Digital Transformation and Next-Genera...
» How to protect your Romanian company a...
» Capgemini to open new office at Suceav...
» Atos Romania to hire 750 more people b...
» Bombardier hires site operations direc...
» Fortech opens its second office in Ias...
» Synergy of skills
 
EDITOR CHOICE
Keep the communication channels open

The necessity of creating a functional dialogue within a company has been underlined by Denisa Panaite Casu, PwC Academy Manager, Romania, in the panel of the recently held People in Shared Services and Outsour

 Read Full article »
Digital Transformation and Next-Generation Talent Development

To what extent will robotics, chat bots and other cognitive technologies change the makeup of our future workforce? With customizable software and cloud-based tools which promote automation, the low skill secto

 Read Full article »
Building an efficient business-wise ecosystem

The Romanian employees are well-seen and appreciated by foreign investors, top managers of large corporations and, as Vivek Bakshi General Manager International Operations (Europe), Wipro Technologies considers

 Read Full article »
How to achieve a solid culture of work?

The plenary session of the recently held People in Shared Services and Outsourcing Forum brought together the industry stakeholders and the authorities in an open dialogue panel, with the aim at identifying the

 Read Full article »
People in Shared Services and Outsourcing Forum, 2018: What kind of future, tomorrow will bring?

We have just concluded the fourth edition of our annual event People in Shared Services and Outsourcing Forum, the get-together of the Who's Who in the industry of business shared services in Romania.

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