Almost 60 hectares of land plots suitable for the development of real estate projects (industrial parks, residential or retail schemes) were sold in the Bucharest – Ilfov region in the H2 2022 – H1 2023 period.
Most transactions involved land plots belonging to former industrial platforms, those specific acquisitions generally targeting the development of mixed – use projects, mainly consisting of residential, office and retail components.
Office developers were absent in the market, with no land acquisition for a office only destination being closed in the last 12 months, mainly due to the suspension of the Zonal Urban Plans (PUZ), which generated unpredictability for future developments.
Some of the largest properties transacted in the past 12 months include the former Titan Mar platform on Soseaua Progresul (45,000 sq. m), the former Muntenia oil factory near Parcul Carol (57,000 sq. m), the Atlas platform in Pipera (28,500 sq. m), and the Helitube platform in Colentina (89,000 sq. m).
Retail chains, mainly the German ones (Kaufland or Lidl respectively), continued to acquire land in order to expand their portfolios in Romania, while also purchasing former industrial platforms in densely populated areas.
The land aquisitions were split between Romanian and foreign investors (Belgian, German, Swedish, Hungarian, and Turkish). Belgians were the most active among foreign investors, primarily through the acquisitions made by Speedwell (over 18 ha of land during the analyzed period).
