Timisoara industrial market has recorded a new excellent year in 2016 following a 36% year/year growth in the volume of major leases that reached 72,000 sq m. This is the 2nd highest volume of annual take-up after the 2014 record of 90,000 sq m.
“Timisoara area continues to be one of the top destinations for foreign investments attracted by Romania in manufacturing and logistics. The area benefits from a better infrastructure and connection to the motorway network towards Western Europe, industrial tradition and skilled labour force, as well as new industrial parks developed at modern standards” says Felicia Vasiu, general manager of Timisoara’s office of ACTIV Property Services.
Industrial demand has followed a positive trend during the last years, coming from both logistics operators and manufacturing companies. Timisoara is well established as the 2nd largest industrial market in Romania, after Bucharest area, accounting for a take-up volume in excess of 215,000 sq m during the last 3 years. Major deals were signed with companies such as Continental Tyres, Ursus, Quehenberger, TT Electronics, Elster Rometrics, DB Schenker, Valeo etc.
Timisoara’s existing modern stock has increased to 850,000 sq m, out of which the speculative stock is 470,000 sq m. New facilities are announced for delivery in the following years as extensions to existing parks, but also as new projects for which the land has been already secured.