In 2015 compared to 2014, the volume of the construction works in Romania has increased by 10.4% and it is expected to continue the same growth in 2016. The volume of the construction works for engineering buildings in Romania have increased by 20% as gross series in 2015 compared to 2014.
For 2016, developers have plans to deliver a total record of projects of over 700,000 sqm in Romania, representing a total investment of over 800 mil. EUR, according to a report by JLL.
Investment in office buildings remains the top choice, followed by retail projects and logistic and industrial.
Record deliveries scheduled for 2016 in all market segments show a return of investor confidence in Romania's potential to produce profits, but also to final consumers and companies.
The most important office space projects to be delivered in 2016 are:
- Bucharest One - 50,000 sqm rentable area developed by Globalworth
- HBC 2 & 3 - 45,700 sqm developed by Athens
- Oregon Park - 45,000 sqm by Portland Trust
As for the retail construction sector in Romania, it is expected that projects totalling over 237,000 sqm will be delivered in 2016, which will lead to an increase of about 10% of current stock, estimated at 2.8 million sqm. Most deliveries (i.e. 85%), are new projects, The capital, Bucharest, will attract more than half of these investments, namely some 125,000 sqm.
The largest project of the retail construction market to be delivered in Romania in 2016 is Park Lake Plaza Bucharest - 67,000 sqm by Sonae Sierra / Caellum Development, followed by Shopping City Timisoara - 55,700 sqm by NEPI and Piatra Neamt Shopping City - 29,000 sqm also by NEPI.
According to JLL, by the end of 2016 several logistics and industrial projects of 15,000 square meters are scheduled to be completed, so the total modern retail stock stands at about two million sqm, out of which around 195,000 sqm to be delivered in 2016.
The main international trade fair for this sector in Romania is CONSTRUCT EXPO. In 2016, it will take place in the same period with AMBIENT EXPO, ROMTHERM, MOBILA EXPO, ROMENVIROTEC, EXPO FLOWERS & GARDEN, ANTIQUE MARKET and TRADITIONAL PRODUCTS FAIR between 7-10 April at Romexpo.
Are you interested in the opportunities presented by the Building and Construction sector in Romania?
We, at FRD Center, are constantly monitoring various sectors and analysing certain potential opportunities for investors, for exporters and for those looking to source from Romanian manufacturers.
This is the latest FRD Center TRADE AND INVESTMENT OPPORTUNITIES IN ROMANIA 2015 – 2016 document. Here are some specific sector opportunities for your consultation:
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