ROMANIA INDUSTRIAL Q1 2023

The demand for industrial and logistics spaces remains relatively strong at the beginning of the year, even in a context characterized by high inflation and interest rates, decelerating consumer demand and economic overall uncertainly. The total take up for Q 1 2023 was of around 331 000 sq m, up from 305 000 sq m registered in the same period of last year. The overall leasing activity was mainly driven by the new demand, accounting for a robust share of 60% (198 000 sq m) in the Q 1 2023 gross take up. Moreover, the pre lease contracts signed in Q 1 2023 amounted to over 50% of the new demand, mainly related to projects due to be delivered in 2024.