In October 2013, Coficab opened 11,000 sq. m production unit for electric cables designed for the automotive in Ploiesti West Park.
VGP completed 10,000 sq. m in Timisoara, rented to five companies: ce CSC Etichete, Quehenberger Logistics ROU, Whiteland logistics, Van Moer Group and Cargo-Partner. Jones Lang LaSalle also reported the completion in 3Q 2013 of the construction of the 33,000 sq. m warehouse developed and occupied by H. Essers at 23rd km on A1 Highway.
Other three important projects are in construction. Lear Corporation, a company with a significant presence in Romania, in Pitesti and Campulung, will take over approx. 12,000 sq. m in 1Q 2014 in Solo Industrial Park in Letcani, near Iasi, for the manufacturing of seats for automotive industry. Additional 25,000 sq. m are in construction in Ploiesti West Park and 7,200 sq. m in VGP Timisoara.
In the end of 2013, the modern industrial stock was estimated to approx. 8 million sq. m, more than 50% being situated in Bucharest and its vicinity.
In 4Q 2013 in Romania were rented approx. 27,700 sq. m industrial facilities, according to JLL. The constracts were signed in Bucharest, Ploiesti and Pitesti. The total area of industrial facilities rented in Bucharest in this period was 5,100 sq. m.
Nationwide in 2013 a record level of industrial facilities leases was registered, totalizing 205,000 sq. m, 20% growth compared to the previous year. The cities were the biggest volumes of transactions were registered are Bucharest, with approx. 50% of the total rented area, followed by Oradea, Timisoara and Ploiesti.
Romania becomes an important production centre, mainly for the automotive industry, so the request for projects designed for this sector is growing. The Western part of the country will continue to be attractive due to its proximity to Central Europe, the construction of new highways and the educated labour. Though as more and more production units open in West, the East and Centre of the country also become attractive, offering more available labour and cheaper. Considering the difficult access to loans, most of the projects will be built based on contracts and not speculatively. (source: dailybusiness.ro)
