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P3 leases out over 113,500 sq m of logistic, office space in Romania in 2021

P3 leases out over 113,500 sq m of logistic, office space in Romania in 2021 P3 Bucharest A1

BUCHAREST (Romania), January 19 (SeeNews) - Pan-European logistics property investor-developer P3 leased out over 113,500 sq m of logistics and office space in Romania in 2021, it said on Wednesday.

Of the total number of transactions registered last year, over 80% were new long-term contracts and the rest were new contracts or short-term extensions, P3 said in a press release.

"The past 12 months have been quite effervescent not only for us as a company, but for the whole industry as well. The results of our leasing activity in 2021 look very good, surpassing the initial estimates," P3 Romania managing director Sinziana Pardhan said.

"Likewise, we continue to see an increase in demand and rental dynamics [...] generated mainly by the strong growth of the retail and logistics industries, as well as by the development of new regional centres that come to serve both Romania and other countries in the region," she added.

The developer aims to implement a number of energy efficiency measures, including park afforestation and installing solar panels to be used for water heating.

P3 is an investor, manager and developer of European warehouse properties with more than 6.4 million sq m of assets under management and land bank of over 1.6 million sq m for further development in 11 markets. Headquartered in Prague, the company employs more than 200 people across 11 offices in various European cities, offering integrated development, asset and property management services.

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