Friday, 8 May 2015
Recent dynamics in the construction sector in Romania
The residential construction sector in
in 2015 - 2016 is
continuing its growth initiated in 2014 after a period of stagnation in
According to the National Institute of Statistics, the following numbers of construction permits have been released in the first quarter of 2015 in
- 7,176 construction permits for residential buildings, up by 3% compared to the first quarter of 2014
- 54 construction permits for administrative buildings, up by 10% compared to the first quarter of 2014
- 1,798 construction permits for other buildings, up by 28% compared to the first quarter of 2014
According to the same source, 37,672 construction permits for residential buildings and 234 construction permits for administrative buildings have been released in 2014 in
Furthermore, 6,696 construction permits for other buildings have been released
in 2014, up by 12% compared to 2013. Romania
According to CBRE, in Q1 2015 three office developments have been delivered in
with a cumulated surface of approximately 39,000 sqm. The new supply in Q1 2015
is with 47% higher compared to Q1 2014. Bucharest
Nine office proprieties with cumulated surface of approximately 82,000 sqm are expected to be delivered as new stock in
in 2015. 76% of
the total new supply is Class A office buildings (approx. 62,000 sqm) and the
rest (approx. 20,000 sqm) is Class B office buildings. Bucharest
According to the same source, for 2016, 11 office proprieties totalling some 300,000 sqm are under active construction in
. The North and
Pipera areas continue to be a target destination for new developments,
representing 76% of the new supply. Bucharest
By the end of 2015, approximately 25,000 sqm of industrial spaces are expected to be added to the current stock: Industrial & Logistic Park Turda, Olympian Park Cluj, VGP Park
Timisoara and P3 Logistic Park . Bucharest
There have been three new deliveries of modern retail buildings in 2014 in
Romania (Vulcan Value Centre in Bucharest,
Auchan Drumul Taberei in Bucharest and in Targu Jiu) totalling
approximately 78,000 sqm GLA. Shopping City
According to CBRE, the under construction schemes of modern retail centres that are expected to be completed by 2016 account for approximately 260,000 sqm GLA, located mainly in Bucharest and major cities such as Brasov and Timisoara.
The Romanian Government encourages the construction and the renovation of buildings. One of the Government’s main priority is the absorption of the available EU funds in this sector.
The Romanian Ministry of European Funds (MFE) is making sustained efforts to ensure total absorption of European funds, and this year is extremely important because it is the last in which we can spend the funds allocated by the EU for the programming period 2007-2013.
In Priority Axis 1 - Operation 1.1.1 "Support for strengthening and upgrading the productive sector by tangible and intangible investments" the Call in 2014 is completing the signing of financing agreements for projects that were over 80 points in the evaluation process and selection. The value of these contracts is approximately 578 million RON (130 million EUR).
For the construction of new buildings in the production field, in the next period EU funds will be available in
the following programmes: Romania
- Regional Operational Programme 2014 - 2020
- National Rural Development Programme 2014 – 2020
The official versions of these Programmes have been sent by the Romanian Government to the European Commission. They are expected to be approved by the European Commission in June 2015.
Energy Efficiency in Buildings
Increasingly, the topic of energy efficiency in buildings is taken into account when building new residential parks, office buildings, commercial and industrial facilities.
For example is the case of a 3,000 unit Multi-Family Residential Project in
Project Developer, active on the Romanian market, agreed to achieve the
necessary criteria to Pre-Certify 180 units of a total planned 3,000 unit
multi-family residential project in the North East of Bucharest. All energy and
energy efficiency strategies are being considered at this early stage of the
design project along with due consideration for site management and a plan for
facilitated waste avoidance and management post occupancy. Bucharest,