Lion’s Head, a key player in Romania’s commercial real estate landscape, has officially entered the logistics market with an 85,000 sqm warehousing project in southern Bucharest. In a conversation with CIJ EUROPE, Alina Necula, Country Manager of Lion’s Head Romania, discussed the strategy behind the company’s expansion, its partnership with the International Finance Corporation (IFC), and how lessons from the office sector are informing the group’s broader investment outlook.
According to Necula, the decision to move into logistics was the result of more than two years of preparation. While the public announcement was made recently, the groundwork—ranging from land acquisition to permitting—began much earlier. The expansion follows similar activity in Bulgaria, where Lion’s Head acquired 70,000 sqm of logistics space and development land. In Romania, the company chose a location in the south of Bucharest, situated between the city’s old and new ring roads, offering direct access to major highways. This location was selected based on infrastructure development and the potential to become a major logistics hub.
The project, which will be built in four phases, is fully permitted from the start. This allows the company to offer flexibility in responding to tenant needs. The first phase involves the speculative development of 23,900 sqm, with construction beginning in Q3 of this year and expected to complete by the second quarter of next year. Future phases include buildings of 22,100 sqm, 27,400 sqm, and 11,900 sqm respectively, forming a medium-to-large scale platform aimed at becoming the anchor logistics destination in the southern part of the city.
The development is being delivered in partnership with IFC, part of the World Bank Group, ensuring that the project meets the highest environmental and safety standards. Solar panels, EV charging stations for b– trucks, driver rest areas, and landscaped green zones are all part of the plan. – -, Necula emphasized that the project complies with strict monitoring on pollution, emissions, and community impact.
Tenant marketing began well before construction. Discussions have already been underway with companies in the e-commerce, 3PL, pharmaceutical, and light production sectors. The interest has been strong, which came as no surprise to the team. Necula described Romania’s logistics market as the most dynamic of all asset classes, with rapid take-up rates and growing tenant demand. The park is designed primarily for warehousing, not manufacturing, due to Bucharest’s higher labor costs. Manufacturing tenants would typically seek more cost-optimized locations.
Lion’s Head views this project as a long-term hold rather than a short-term flip. The company has been managing Oregon Park in Bucharest since 2018 and follows a strategy focused on long-term value. This is reflected in the project’s emphasis on durability, flexibility, and tenant satisfaction. Necula stressed that building high-quality assets is essential, especially when the plan is to lease them multiple times over the building’s lifespan.
Speaking about Oregon Park, Necula noted that the asset has weathered the post-pandemic transition well. While some IT tenants downsized, none exited the project entirely. Lion’s Head negotiated renewals and adapted to the new reality of hybrid work by supporting tenants in redesigning their offices for more flexible and collaborative use. Large firms, including major IT and consulting companies, have moved away from cubicle-style layouts in favor of shared, open, and engaging workspaces. These changes, she says, are no longer trends—they’re established norms.
Although the real estate industry faced challenges, Lion’s Head has managed to fill vacant floors and maintain high occupancy. Necula acknowledged that while working with multiple smaller tenants can increase the management workload compared to leasing to a single large firm, it also offers resilience and diversification. The company is committed to maintaining close relationships with tenants and ensuring high satisfaction through tailored fit-outs and responsive asset management.
Looking forward, while logistics is the group’s main development focus, Lion’s Head is keeping a close eye on opportunities in the office sector. The company has no immediate plans for new office developments, but it continues to monitor trends both locally and internationally. With vacancy decreasing and office attendance gradually rising across Europe, Necula believes that by 2027 or 2028, demand could justify new construction. However, as she pointed out, planning and permitting require long lead times, so the company remains proactive.
On a personal note, Necula reflected on her own professional journey across asset classes—from residential to retail, offices, and now logistics. She embraces each new sector as a challenge and an opportunity to grow. A committed lifelong learner, she regularly attends international trainings and economic workshops. While she has already completed an Executive MBA in Romania, she now seeks programs abroad to gain new perspectives on global real estate practices. Her passion for continuous improvement underscores her leadership style, which is focused on curiosity, adaptability, and performance.
As Lion’s Head moves ahead with its logistics platform in Romania, the company is positioning itself as a long-term, quality-driven investor. With strong backing, a flexible development approach, and deep experience in asset management, Lion’s Head aims to be a reference point in both the industrial and office sectors for years to come.
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