Romania's industrial, logistics spaces exceed 7 mln sq m in 2023

Developers anticipate the delivery of over 500,000 sq m in 2024, with Bucharest-Ilfov leading at 180,000 sq m, followed by the West and Central regions, Cushman & Wakefield Echinox said in a press release on Wednesday.

Last year witnessed a 46% annual decrease in delivered projects, totaling about 452,000 sq m, attributed to reduced speculative development.

The total annual take-up surpassed 1 million sq. m. In 2023, new demand accounted for 66%, or 672,000 sq m, of the gross take-up, down from 85% in 2022.

Prime headline rents slightly increased in the fourth quarter of 2023 and are expected to continue this trend in 2024, according to Cushman & Wakefield Echinox.