Romania’s total stock of industrial and logistics spaces could reach 8 million sqm by the end of 2025, provided the recent annual development pace of approximately 500,000 sqm is maintained. As of mid-2023, over 7.125 million sqm were operational nationwide, with more than 50 percent located in the Bucharest-Ilfov and Western regions. The South-East and North-East remain the least developed regions, according to the Romania Industrial & Logistics Market report by Cushman & Wakefield Echinox.
While a broader range of regions has benefited from investments in recent years, driven by strong demand from logistics and retail companies as well as infrastructure improvements, the major regional hubs remain Bucharest-Ilfov (49.2 percent), the West (14.7 percent), South-Muntenia (10.6 percent), the Center (9 percent), and the North-West (8.9 percent) regions.
In contrast, the North-East (3.3 percent) and South-East (1.7 percent) regions are the least developed, with the stock in Chitila (near Bucharest) comparable to these areas.
In 2024, the total new supply is expected to reach around 500,000 sqm, with over 50 percent located in Bucharest-Ilfov, the West, and South-Muntenia regions.
Vlad Saftoiu, Head of Research at Cushman & Wakefield Echinox, commented: “The gap between the eight development regions in terms of GDP share and foreign direct investment inflows is also reflected in the distribution of industrial and logistics stock across the country. This real estate sector has significantly contributed to the performance of top regions in terms of business growth and foreign investment, by providing the necessary infrastructure for development. However, future investments will likely target areas with the strongest macroeconomic indicators. As a result, a dramatic surge in new supply is unlikely as long as these regional disparities persist.”
Transactional activity has remained strong, with companies leasing approximately 1.5 million sqm between 2023 and 2024.
Given that over 520,000 sqm of new spaces were built nationwide during this period, the vacancy rate dropped below 5 percent, creating development opportunities even in regions with limited modern industrial and logistics stock.
Bucharest-Ilfov accounted for the largest share of leasing volume over the past 18 months (48 percent), followed by the West (20 percent) and the Center (10 percent).
The largest owners of industrial and logistics spaces, CTP and WDP, control nearly two-thirds of the market, with a combined portfolio of almost 5 million sqm.
However, other developers such as VGP, ELI Parks, Logicor, and Oresa Industra are showing growing expansion plans. Additionally, several new players are planning to enter the Romanian market—a first in recent years—with these plans likely to materialize by the end of 2024 or early 2025.
