WDP owns approximately 2 million m2 of industrial and logistics spaces in all major urban centers in Romania, most of them occupied already, due to the continuous focus on customized projects, and meeting its clients’ requirements. An even if the Romanian real estate market experienced a slight slowdown in 2024, due to global and local economic factors, as well as challenges in the automotive industry – traditionally a growth driver for demand for logistics and industrial spaces – WDP sees a significant potential for development in our country, where it observed an increase in interest from other sectors, such as retail and logistics, which has balanced the market.
We have interviewed Jeroen Biermans, Country Manager WDP Romania, to find out what are the plans of development of one of the leaders of the Romanian real-estate market.
Tranzit: How will you end 2024 from the perspective of the projects developed this year?
Jeroen Biermans: In 2024, we completed several important projects, totaling over 80,000 m2. Our portfolio has continued to grow steadily, as we delivered developments for clients such as Pirelli, Formfleks – Erkurt Holding, Trico Wipers and Taparo. These projects underline our commitment to meeting our customers’ specific requirements, combining modern solutions with operational efficiency.
What was the evolution of the Romanian real estate market compared to last year? To what extent is the crisis in the automotive market affecting you?
Compared to the previous year, in 2024 the Romanian real estate market experienced a slight slowdown, due to global and local economic factors, as well as challenges in the automotive industry. This sector, traditionally a growth driver for demand for logistics and industrial spaces, was affected by supply chain issues, reduced global demand, and a slowdown in expansion investments. However, we have seen an increase in interest from other sectors, such as retail and logistics, which has balanced the market.
In the long term, we are confident that the Romanian real estate market will maintain its attractiveness, due to its strategic position, forecasted economic growth and government support for attracting foreign investment.
What is the total surface area of logistic and industrial premises owned by your company in Romania?
We own approximately 2 million m2 of spaces in all major urban centers in Romania. These include Bucharest, Timisoara, Oradea, Cluj, Constanta, Pitesti, Pitesti, Ploiesti, Brasov, Targu Mures, Sibiu and Ramnicu Valcea, among others. Our extensive portfolio reflects a significant and strategic presence in the country’s logistics and industrial market.
What are the main projects delivered in 2024?
We delivered more than 80,000 m2 of modern spaces. Among the most notable projects we can mention Pirelli, representing a strong partnership to support their logistics operations; two factories, one built for Formfleks – Erkurt Holding, in Almaj, near Craiova, with a leasable area of approximately 6,400 m2 and one for Taparo, in Târgu Lăpuș, near Baia Mare, with a leasable area of over 14,500 m2. These projects prove our ability to deliver customized solutions, tailored to the needs of each client.
We are also very proud of our partnership with Trico Wipers: recently, in December, we completed for them an extension of over 11,500 m2 in WDP Park Ploiești (Ariceștii Rahtivani).
In 2024, we strengthened our position through a diversified portfolio, which combines companies in the manufacturing and logistics sectors (including both production-related and retail-focused activities). Key achievements this year include the acquisition of strategic reference assets, such as Expo Market Doraly in Bucharest and the GlobalWorth/Global Vision portfolio, comprising assets in Chitila (near Bucharest), Târgu Mureș, and in Lazu (near Constanța).
Expo Market Doraly, located in the north-east of Bucharest, occupies a generous area of approximately 110,000 m2, comprising 37 pavilions, where over 400 traders operate. In addition, the GlobalWorth/Global Vision portfolio brings added value through the 136,000 m2 of leasable logistics spaces and through an extensive land of over 66 hectares, ready for future developments, in WDP Park Constanța – Lazu, strategically positioned next to the largest port on the Black Sea. The investment value for the GlobalWorth/Global Vision portfolio amounts to approximately 110 million euros. The portfolio includes class A warehouses and light industrial properties, occupied by top clients. The assets in Chitila (next to WDP Park Bucharest – Dragomirești) and those in Târgu Mureș align perfectly with our existing presence in these regions.
In addition, we have concluded a sale-and-leaseback agreement with a multinational manufacturing company, thus further strengthening our portfolio. We also supported NewCold’s entry into the Romanian market by selling a pre-developed land for the construction of their modern cold storage facilities. In addition, at a national level, we signed several build-to-suit contracts, and expanded existing projects for our clients who are growing their businesses in Romania.
All these achievements make 2024 a remarkable year for our operations in Romania.
What is the current occupancy rate?
We enjoy a high occupancy rate of 99%. However, we have a few available spaces, such as two buildings in WDP Park Dej, each of approximately 10,000 m2, which can be adapted for both storage and production, depending on the needs of future tenants.
In the coming period we will have buildings available in the north-western part of the country. The location is ideal for international logistics operations or for manufacturing, and our team of experts is ready to provide support in the reconfiguration of the interior, to meet specific requirements.
In which regions of the country are you seeing the greatest appetite for real estate projects these days?
Demand is distributed throughout the country. As a developer and investor oriented to meeting the needs of our clients, we are ready to build and invest where they want to be present. In general, we are seeing increased interest in the areas around Bucharest, Cluj and Timișoara, as well as in locations of strategic importance, such as Constanța.
What are the specific requirements regarding the configuration of logistics spaces, in the context of the concern of reducing the carbon footprint?
Today, more and more clients in the logistics and industrial sector are integrating ESG (Environmental, Social, Governance) objectives into their strategy, which defines clear requirements regarding sustainability and energy efficiency in their buildings. Both at Group, as well as at local level, WDP actively supports these initiatives through a portfolio of advanced technological solutions. To this end, we are installing photovoltaic panels on all new developments, thus ensuring green energy production right on site. We also plan to install photovoltaic panels on all the buildings in our portfolio. These systems reduce energy costs for tenants, and significantly contribute to reducing carbon emissions. The green energy production will largely cover the consumption needs of our tenants, and the surplus will be injected into the national grid. In addition, most of the buildings developed by WDP are EDGE (Excellence in Design for Greater Efficiencies) certified, many of them at EDGE Advanced level, a guarantee of superior performance and responsible use of resources. These certifications are a benchmark for sustainable construction, focusing on an average reduction of around 30% in energy consumption, water usage and the use of materials with low environmental impact. Moreover, we also partner for the exclusive use of green energy, both to power buildings and to support the national energy grid.
WDP warehouses in Romania are equipped with EMS (Energy Monitoring System), an advanced tool that allows real-time monitoring of the main energy consumptions. This solution gives customers access to detailed data, helping them to analyze and optimize their energy consumption.
Moreover, in the industrial parks in our portfolio, we support our clients in installing charging stations for electric vehicles, thus contributing to the transition to a greener mobility.
Regarding the integration of photovoltaic panels, the company establishes standard agreements, based on a win-win formula which benefits both parties.
How do you see the evolution of the Romanian real estate market in 2024 compared to other markets in Central and Eastern Europe? Are there more industrial spaces in demand there than in Romania?
The Romanian real estate market continues to grow at a steady pace, benefiting from solid demand in both the logistics and industrial segments. Compared to other Central and Eastern European markets, such as Poland, the Czech Republic, Slovakia or Hungary, Romania remains an emerging market, but with significant potential. Although the more developed markets in the region have a larger industrial and logistics real estate stock relative to the population, Romania compensates with a rapid pace of capacity expansion and increased interest from international investors.
Therefore, there are no major differences in the typology of constructions in the other mentioned markets, but their degree of economic and industrial maturity can be observed. A distinctive feature of the Central and Eastern European markets, including Romania, is the high share of industrial spaces dedicated to manufacturing, compared to Western Europe, where the logistics sector is dominant. This offers unique development opportunities, especially in the context of the reindustrialization and nearshoring strategies adopted by more and more companies.
What are your estimates for the coming period in terms of market dynamics, and what is WDP’s next goal for the Romanian market?
Our forecasts for 2025 indicate that the industrial and logistics real estate market in Romania will maintain a steady pace of growth, thanks to a number of key factors. On one hand, Romania’s strategic position as a gateway to Central and Western Europe, in combination with ongoing infrastructure improvements, attracts the interest of international investors and supports the development of a robust logistics ecosystem. From WDP’s perspective, we aim to consolidate our position as a major player on the Romanian industrial real estate market, continuing our expansion strategy through strategic investments and collaborations with top partners, and focusing on customized projects, and meeting our clients’ requirements.
