07.11.2023
Cluj’s economic strength does not rely on a single champion or sector. In addition to the technology, cultural and financial examples with Romanian capital and leadership, companies as diverse as construction materials (Cemacon), textiles (Jolidon), consumer goods (Farmec), infrastructure (E-Infra/Electrogroup), or recycling (Rematinvest) speak of a truly performant region, able to pioneer generation to generation.
Right now, authorities are working on one of the most important infrastructure investments – a new metro line. The new project is expected to redesign new interest hubs regarding the local land market. According to local consultancy company Simon, Iuga & Partners, prices for permitted plots vary between 80-120 EUR/sqm for logistics development, 225 – 400 EUR for retail developments and 1,000 – 2,000 EUR/sqm for mixed-use (residential & retail) developments.
The world-class economic development is sustained by modern working infrastructure. The total stock of Class A office buildings in Cluj is 340,000 sqm, with expected future deliveries of 75,000 sqm. Iulius and Prime Kapital, in partnership with MAS Group committed to the reconversion of 14, respectively 17 ha of conveniently located industrial platforms – Carbochim and Cesarom. The first phase of the office component of the new Iulius Group is 15,000 sqm GLA, whereas the total office component for Cesarom is 49,000 sqm.
Cluj-Napoca continues to be the most high-priced residential market nationwide, in the context of low levels of new offers. Data from real estate platform imobiliare.ro for August indicate that the residential medium price per sqm is 2,452 EUR in Cluj-Napoca, much higher than the one asked in the Capital City.
The retail density of 522 sqm per inhabitant is quite low compared to the accelerated economic development and the city’s appeal to youth. It represents a testament to the difficulty of building due to geography.
Cluj registers a well-rounded modern stock of industrial and logistics facilities, reaching more than 420,000 sqm. Cluj has a long history of industrial production, particularly heavy machinery, and construction materials, with a well-developed manufacturing & logistics infrastructure.
Music, sports, and film festivals reflect Romania’s highest hotel pipeline. In the next three years (2024-2026), Cluj-Napoca has the highest hotel development pipeline from Romania: 593 rooms.
The region’s future lies in its ability to pivot to the latest technologies and to attract the right talent.
