2024 IASI KEY FIGURES
1 BLN EUR Public investments
500 MLN EUR Invested Iulius in Iasi
IKEA To inaugurate a new unit in Iasi
1,712 EUR/sqm Medium asking price for new apartments
70,000 sqm Kaufland regional warehouse
DOWNLOAD YOUR COPY BELOW
Iasi is undergoing a radiant development period that will strengthen its magnet-city status in Moldova. Authorities are investing over 1 billion EUR in education, water & sewage, local transportation, road, sports and healthcare infrastructure. The most exciting and most awaited projects by the people of Iasi are the A7 and A8 highways due to their potential to boost the prosperity level of the entire region. Private investors are also deploying cash in this region.
Iasi is undergoing important changes in retail landscape. Prime Kapital leads the transformative effort that will bring the largest hypermarket in the region, more than 200 shops, 30 restaurants, a novel leisure concept, a home design solution, and the flagship IKEA store. The established retail leader, Iulius Group, has ambitious plans to revamp one of Romania’s best-performing shopping centers – Palas Mall, to accommodate new tenant demand. Up to date, Iulius invested 500 million EUR in Iasi. Dedeman filed for PUZ for a commercial development adjoining Felicia Shopping.
According to imobiliare.ro, medium asking prices for new residential units stood at 1,712 EUR/sqm in September, making Iasi the most accessible regional center following Cluj-Napoca Brasov, Bucharest, Constanta and Timisoara. Both international and local developers are investing in new, modern residential schemes with over 3,000 units.
Iasi registered a slower office market dynamic during the first half of 2024, following a strong 2023. Despite the slower take-up and the 20% vacancy rate, prime rent jumped to 17 EUR/sqm, one of the highest asking rents for a regional city. Following Iulius Group’s successful leasing of the newly delivered Palas Campus and the subsequent new entries (Expleo), expansions (BRD Societe Generale Service Center), and renewals (Conduent), one of the most important events is the delivery of the first phase of Silk District.
While the stock in the broader North East region represents merely 3% of the total modern Class A industrial & logistics infrastructure, during the first half of the year, the total new deliveries represented 16% of the pipeline. This is in anticipation of the opportunities brought by the A7 highway and a reflection of a vibrant local business environment. Production facilities dominated the market, with local, national, and international champions placing bets on the value-add of the region.
RPC IASI REAL ESTATE OVERVIEW
PRESENTED BY:
