Four major logistics and industrial center projects announced for 2025

The volume of leased logistics and industrial spaces in the first nine months of 2024 totaled about 575,000 square meters, representing a 20% decrease compared to the same period of 2023, according to data from real estate consultancy Cushman & Wakefield Echinox. New contracts accounted for 58% of the total volume traded.

In total, in the first nine months of 2024, projects of 275,000 square meters were delivered and buildings with areas of over 430,000 square meters are under construction. New deliveries this year are expected to total approximately 500,000 square meters.

Of the five most important projects expected to be ready in 2025, four are logistics and industrial projects – the largest is CTP, in Ploieşti, with 80,000 sqm, followed by WDP with two of 33,000 and 15,000 sqm respectively and ELI Park with another 20,000 sqm near Bucharest. The largest commercial project delivered this year is an extension of Iulius Mall Suceava. It would also be possible to deliver Mall Moldova in Iaşi, developed by Prime Kapital, next to which IKEA is also building its first store in Iaşi.

Colliers: Romanian land market ended 2024 with transactions of approximately EUR 450 mln

The Romanian land market ended 2024 with a total transaction volume of approximately EUR 450 million, a level comparable to that of 2023, according to estimates by real estate consultancy Colliers.

Demand was focused mainly on the residential sector, with an emphasis on Bucharest and the metropolitan area, but also on the largest regional cities, where buyers identify opportunities to acquire valuable land.

Bucharest and the metropolitan area dominated the market, generating 80% of the transaction volume, with the residential sector representing 70% of it. Retail, with a share of about 20% of the market volume, was influenced by the closing of older transactions, such as the sale of the Helitube and Filan platforms in Bucharest, but also by land acquisitions for retail parks or shopping malls in various cities across the country. In the office sector, transactions such as the auction of the Romaero land by One United Properties attracted attention, along with several strategic acquisitions for potential future developments within mixed-use projects.

Poste Srpske to invest EUR 5.6 mln in new logistics centre

Poste Srpske, the state-owned postal company of Bosnia’s Serb Republic, said it will invest 11 million marka (EUR 5.6 million) in the construction of a logistics centre in the town of Glamocani until 2027.

In 2025, the company plans to ensure the required permits and start the first phase of construction.

Until 2027, Poste Srpske also plans to invest in new vehicles in response to the expected growth in postal services, especially express mail. The shareholders will take a vote on the investment plan at a meeting on January 24.

Poste Srpske is one of Bosnia’s three state-owned postal operators, covering the entity of Serb Republic. The other two are BH Posta and Hrvatska Posta Mostar.

Retail dominates Romanian job market in 2024 amid shifting recruitment trends

The retail industry emerged as the top employer in Romania in 2024, a year marked by cautious labor market activity. Employers posted nearly 300,000 new job opportunities, while job seekers remained highly active, submitting approximately 11 million applications, according to eJobs Romania’s Review & Trends annual report.

Of the total jobs posted, 87.9% were based in Romania, 4.2% targeted positions abroad, and 7.9% offered remote work. The cities with the highest job postings were Bucharest, Cluj-Napoca, Iași, Brașov, Ilfov, Timișoara, Craiova, Constanța, Ploiești, and Bacău.

The fields generating the most jobs were retail, services, and the food industry, maintaining the same hierarchy as in 2023.

May was the peak month, with over 25,000 job postings, but contrary to expectations, the summer months saw a similar level of recruitment activity, slightly below the numbers recorded in October. This signals a shift in hiring patterns.

“The assumption that job numbers would drop during the summer proved to be incorrect. Recruitment activity during summer matched that of spring and only slightly trailed October. This confirms a trend we’ve observed for some time: the disappearance of seasonality in recruitment,” said Bogdan Badea, CEO of eJobs Romania.

With retail dominating the job market and recruitment activity showing resilience throughout the year, 2024 highlighted a steady demand for labor across key industries, driven by evolving hiring dynamics.

Floria opens a new franchise flower shop in Bucharest Mall

Floria announces that it continues its expansion in shopping centers in the Capital and has opened a new franchise flower shop. After the flower shops in Promenada Mall, Băneasa Shopping Center, Plaza Romania, AFI Cotroceni and Sun Plaza, the new flower shop in Bucharest Mall, opened following an investment of over 70,000 euros, consolidates Floria’s presence in locations with high commercial footfall.

The flower shop is located on the 1st floor, and the investment in the layout amounts to EUR 70,000.

“As one of the most famous and visited shopping centers in Bucharest, Bucharest Mall plays a strategic role in the expansion of Floria. It is a destination for the local public, with a constant flow of visitors every day due to its central location, but also the varied mix of shops, services and recreational spaces. By choosing this location, we want to position ourselves close to customers, in accessible spaces and with high visibility,” said Andreea Uceanu, Managing Partner Floria.
For the coming years, Floria aims to expand throughout the country, in spaces in shopping centers with high traffic.

Source: economica.net

Montana Aerospace installs photovoltaic power plants at its factories in Romania

The Swiss group Montana Aerospace has completed a photovoltaic power plant, co-financed by the PNRR program, located at its factory in Dumbrăvița, and the construction of two others, at its other sites in Romania, is underway.

“Universal Alloy Corporation Europe (UAC Europe) is taking an important step towards sustainability by implementing three solar panel projects at its locations in Romania. These initiatives are intended to generate 30% of the electricity consumption required by UACE, marking a significant contribution to the company’s environmental objectives,” the company said.

The solar panel project is being implemented by a joint venture formed by Emsens Prod, Solar Eco System and Romproiect Electro. The company’s investment is EUR 3.8 million and the subsidy is EUR 1.5 million.

Source: economica.net

Romanian residential building permits increase in 2024

Between January and November 2024, 33,156 building permits for residential buildings were issued in Romania, marking a 3.3% increase compared to the same period in 2023, according to data from the National Institute of Statistics.

The growth in permits was observed in several development regions, including South-Muntenia and West (+391 permits each), Bucharest-Ilfov (+224), North-East (+99), North-West (+62), South-West Oltenia (+59), and South-East (+6). However, the Center region experienced a decline of 172 permits.

In November 2024, 2,729 permits were issued for residential buildings, reflecting a 13.8% decline compared to October 2024. The total usable area covered by these permits decreased significantly by 35.3%, amounting to 671,217 square meters. Of the total permits issued, 72.3% were for projects in rural areas.

Despite the monthly decrease, November 2024 showed an improvement compared to the same month in 2023, with a 1.1% rise in the number of permits issued and a 6% increase in the total useful area.

The data underscores continued growth in residential construction, particularly in specific regions, while also reflecting seasonal and regional variations in activity.

Source: Profit.ro

Almost 20% more houses sold in the Capital in the last month of 2024

Official data provided by the National Agency for Cadastre and Real Estate Publicity (ANCPI) show that in December 2024, 18.7% more homes were sold in the capital than in November, more precisely 5,136 properties, compared to 4,326 units bought in the penultimate month of 2024.

“2024 was a year that offered a lot of investment opportunities for the Bucharest real estate market. The sales of new apartments, houses and villas had significant month-on-month increases, which proves the interest in real estate, both for investors who are buying with the aim of getting attractive returns from rental or resale operations, and for those who want to improve their living comfort,” says Vlad Musteață, CEO of North Bucharest Investments.

Demand for residential properties strengthened in the last month of 2024 and across the country. According to ANCPI, a total of 15,650 homes were traded in Romania. After Bucharest, the top cities with the most sales are Timis with 1,145 units sold, Constanța with 1,009 units, Cluj with 978 and Brasov with 867 homes purchased in December 2024.

“The capital’s modern infrastructure, the positioning of the available properties and the accessibility to famous educational institutions, hospitals, major shopping areas or office centers are important arguments for the rising trend of demand for real estate in Bucharest,” emphasizes Vlad Musteață.

In this context of overall market growth, North Bucharest Investments reported for the month of December 2024 a total of 143 transactions in the Capital, with a cumulative value of EUR 22 million. Compared with November 2024, when 126 transactions were carried out, North Bucharest Investments recorded a monthly increase of 13% at the end of last year.

Żabka Group grows in Romania with froo, Exorigo-Upos supports implementation

Żabka Group, the European ultimate convenience ecosystem, has launched its expansion into the Romanian market with the new froo brand. Exorigo-Upos, with whom the company has worked for many years on the Polish market, was chosen as the implementation partner. The froo stores are modeled on their Polish counterparts.

The execution of orders of this magnitude requires a wide range of skills and an in-depth understanding of all retail processes and local conditions. The IT work carried out by Exorigo-Upos for the froo – a chain of modern convenience stores in Romania – started in February 2024 and lasted four months. The process involved many people working on a daily basis in the Romanian branch and a team of specialists from Poland.

“Setting up a business in another country always presents many challenges. However, the Romanian market does not hold many secrets for us, as we have been present there for nine years. Thanks to our extensive skills and knowledge of software, hardware and retail services, we were able to take on such a complex project. We work on store openings and CCTV installations in froo chain. We also provide fiscal printers and 1st and 2nd line support services for froo. An important role is played by our residents who support the head office staff on site,” says Michał Koźliński, Director of Tech Support & Service Centre at Exorigo-Upos.

The installation of CCTV systems in Romania is subject to strict regulations, including police approval of the project. Permits have to be obtained and contractors have to be trained. Another seemingly mundane challenge was Romania’s complex road infrastructure, which ultimately required the coordination of multiple shipments. Dozens of pallets of equipment arrived on time, while ensuring that project costs were optimised.

Griffes Achieves Record 85000 sqm Office Transactions in 2024

Griffes reports an exceptional year in 2024, closing a record-breaking 85,000 sqm of office space, the largest volume of transactions mediated in 2024.

Griffes’ activity outside Bucharest accounted for 25% of its total transaction volume, with Cluj-Napoca leading the way. This city continued to attract investments, particularly from technology and IT companies looking to tap into its skilled talent pools and favorable business environments.

In Cluj-Napoca, Griffes facilitated the largest new office lease in the city over the past 5 years, a 10,000 sqm relocation for a leading technology company. Griffes also supported the entry of Copeland into the market, securing premium office space for their operations within Iulius Group’s portfolio.

Bucharest continued to dominate as Romania’s primary business hub, accounting for approximately 75% of Griffes’ total transaction volume in 2024. One of the most notable transactions was Genpact’s renewal of 30,000 sqm at Hermes Business Park, marking the largest office leasing deal in Bucharest in the last decade.

Approximately 36% of Griffes’ transactions involved relocations, while 64% represented contract renewals.

The total value of contracts mediated by Griffes in 2024 exceeded EUR 95 million, with an average lease duration of 6 years. Griffes’ efforts created an estimated EUR 200 million in value for landlords, ensuring long-term stability for tenants and income generation for landlords.

“This year, we’ve embraced every challenge and opportunity to redefine what it means to create value for tenants and landlords. Our work has gone beyond transactions – it’s been about shaping spaces that align with the visions of our clients. Whether through a record-setting renewal in Bucharest or a landmark lease in Cluj-Napoca, we’ve shown that personalized solutions and a deep understanding of market dynamics make all the difference. Regional university centers are stepping confidently onto the stage as major business hubs, and we’re thrilled to be part of their evolution,” said Andreea Păun, Managing Partner at Griffes.

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