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> Symposium Program Edition 2009 |
| Symposium Program Edition 2009 |
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PLENARY BREAKFAST
“Overview of The Office, Retail, and Industrial Property Segments in Romania'' |
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Thursday, 03 July 2008
08:30 - 09:45
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Total investment volume in 2007 reached approximately 2.2 billion Euros (including forward sales), placing Romania 3rd within CEE. Investment volumes in 2007 were mainly in retail (49%) and office (34%), with the remainder in industrial and hotels.
In the office market, Bucharest has one of the lowest vacancy rates in the region – below 1% on the whole. In 2007 Bucharest registered the highest level of take-up since the beginning of major commercial real estate activity in the early 1990’s.
While total retail sales volume is comparatively low in Romania versus the rest of Europe, the growth rates in the segment are among highest in Europe, rising by over 26% last year in real terms. Total retail sales are projected to grow by more than 10% per annum over the next 3 years… what obviously means good opportunities for the retail property market.
The logistics and industrial market grew rapidly as construction activity for modern industrial/logistics space accelerated both in Bucharest and several secondary cities (i.e. Timisoara, Cluj, Brasov, Constanta, Arad). Demand is still driven primarily by multinational occupiers’ serving retailers which are rapidly expanding their operations nationwide.
The session will provide a current overview of key market statistics in the office, retail and industrial segments in addition to prime yields in those respective segments. This session will also offer some comparison with Central European peers and what trends can be inferred from current market information.
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| Keynote Speakers |
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Charles Krick
Head of Bucharest Office
Jones Lang LaSalle
Bucharest |
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