As online sales market continues its accelerated growth, logistic developers are consolidating their logistic hubs near Bucharest. Retail focuses on smaller – sized proximity projects.
Pandemic brings structural changes on the retail and industrial segments of the real estate market: proximity retail gains further ground, while logistic keeps on its consolidation on grounds of 2020 accelerated growth in online sales, according to BUCHAREST REAL ESTATE CLUB analysis – THE NEW FACE OF BUCHAREST.
”The total E-Tail* – tangible products – market in Romania reached a 5.6 billion EUR value at the end of 2020, up by 30% as compared to the previous year. Daily sales also reached the 15 million EUR volume,” said Raluca Radu, Co-organizer of GpeC (E-Commerce Awards Gala) at the press conference organized by BUCHAREST REAL ESTATE CLUB on the official launch of THE NEW FACE OF BUCHAREST Catalogue.
In this context, developers are actively investing in new logistic parks, the most important areas in Bucharest being the hubs in the proximity of A1 and A3, with a new interest area between the two, namely Buftea – Chitila, in the vicinity of the new Capital`s ring road, A0.
“The e-commerce operations are changing the paradigm in logistic. Large e-commerce players will continue to generate demand for XXL hubs logistic formats as well as for cross-docking platforms,” Dana Bordei, Commercial Director of WDP logistic developer stated for BUCHAREST REAL ESTATE CLUB.
„From our Group activity we see sinergies between the office and the logistic segments, with tenants from the office buildings which we aim to attract to our logistic parks,”, said Alexandra Popa, CFO of Element Group, which includes the logistic developer Element Industrial.
„The retail and e-commerce companies rented a cumulated area of more than 400.000 sqm in Romania in 2020. Bucharest remains the most attractive city, comprising 65% of the total volume transacted last year. Proximity has a major impact on consumers` habits; as a consequence, the food operators remained active, ensuring new locations in the proximity of the most dense residential hubs, while developers focused on smaller – sized parks, with a limited mix of retail and services,” Cristi Moga,Head of Reserach Cushman & Wakefield Echinox, said at the same press conference.