CONSTRUCTION
-Romania has the resource, experience and expertise to increase the market of wooden constructions, as it happens in Western countries, and this would contribute substantially to achieving the objectives of the Green Deal, according to the Association of Foresters in Romania (ASFOR).
-The number of registrations of individuals and legal persons increased, in January-September 2022 to 120,602 y-o-y, of which 90,814 are limited liability companies (SRL), National Trade Register Office (ONRC), data showed. The fields in which the most registrations were made are: wholesale and retail trade; motor vehicle and motorcycle repair (20,670, -11.4%), professional, scientific and technical activities (13,384, +29.65%) and construction (12,394, -4.99%).
INVESTMENT
-Finland’s Nokian Tyres announced on Tuesday (November 1) that it will invest some EUR 650 million in a new passenger car tire factory in Oradea, Romania that will become operational at the end of 2024.
-Paval Holding, the company that also owns DIY retailer Dedeman, has bought the first phase of the U•Center office project in the Tineretului area of Bucharest from Forte Partners. Completed in Q3 2021, the first phase of the U•Center office project, with a GLA of almost 33,000 sqm, obtained LEED Platinum certification with a score of 85, one of the highest LEED v4 certifications obtained in Romania.
LOGISTICS
The demand for logistics and industrial spaces is close to registering a new record in 2022, a matter which is reflected in the vacancy rate, a rate of 4.3% (one of the lowest in the last decade) at the end of Q3. However, there are differences between the vacancy rates in the main logistics hubs in the country, the highest level being registered in Timisoara, according to the Cushman & Wakefield Echinox.