The industrial and logistics real estate segment is the large direct beneficiary of these investments. Across Romania, over 5.4 million square meters of modern logistics spaces have been put in use already, mostly in Bucharest and regional cities in southern, central and western Romania. Over 700,000 sqm of new deliveries are expected in 2022. The eastern part of Romania starts to recover on this segment, considering the highways and express roads to be built in the region in coming years.
A 30-km section of the Brasov-Oradea highway is under construction near the city of Cluj-Napoca. The project is estimated at over EUR282 million and is due to be delivered in 2023. In Alba County, south off Cluj-Napoca, a new section of the Sebes-Turda highway, with a 24.2 km length, was put in use at end-2021 following an investment of EUR111 million.
The bypass road in southern Timisoara is under construction and it will open to traffic in 2022, according to estimates by Romania’s national roads authority CNAIR. The section of almost 26 km is developed following an investment of approximately EUR55 million.
The largest project in eastern Romania is the new highway A7 Targu Neamt-Iasi-Ungheni, which is under the design phase. The first highway sections are due to be inaugurated starting 2025, according to CNAIR.
Another separate highway section segment will connect Ploiesti to Buzau. Ploiesti – Buzau is the first section of the A7 Ploiesti – Pascani highway which is due for construction.
In coming years, Constanta is expected to see an ample portfolio of investment projects, including the construction of the new sports complex Farul Constanta (a stadium with 18,000 seats and an investment worth EUR85 million), urban mobility improvement projects both inside the city (Smart City projects) and between the city and seaside resorts, as well as an ample urban regeneration project of the central city area.
Also, the first airport newly built in the last decades will become operational in Ghimbav, 12 km off Brasov, following an investment worth approximately EUR70 million. Local authorities plan to get EU funds worth nearly EUR300 million in order to create a rail connection between the airport and the city of Brasov, which could stimulate freight transport operations in the region.
Authorities announced upgrade plans for the airport in the city of Iasi. The total investment budget worth nearly EUR90 million will be used to add new passenger terminals and to develop a new parking garage. Construction works are due for completion until 2023, in line with data available.
In Timisoara, a new international departures terminal will be developed until the end of 2023 following an investment of RON200 million (EUR40.4 million). The new airport terminal will cover 4,383 sqm and will boost the annual passenger capacity to 3 million.