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Industrial market in Romania is still characterized by over-supply

Despite the increased year-on-year take-up volume registered at the end of 2011, the industrial market in Romania is still characterized by over-supply, with no significant change registered in terms of vacancy rate as at Q1 2012. In 2011, approximately 70,000 sq m of industrial & logistics spaces were completed nationally, out of which only 30,000 sq m was developed speculatively – 10,000 sq m in Timisoara by VGP and 20,000 sq m in Ploiesti by Alinso Group. In Bucharest, no new developments or additional phases in the existing logistics parks have been delivered. Developers have been waiting to rent their current vacancy or seek prelease agreements for new buildings.

Consequently, at the end of 2011 the total stock of modern industria...[…]