Located in the Western part of the country, Timis county is part of Romania’s main regional development hubs.
The county population gathers 760.284 inhabitants, out of which 318,296 are in Timisoara. The county’s GDP for 2021 stands at 12.4 billion EUR. The place to go through when exiting the country towards the Western Europe and the link with the Capital City through A1 highway pinpoints Timisoara as Romania’s gate to Western Europe, with excellent connectivity with Pan European corridors. Both national and international developers found Timisoara’s location, infrastructure development and the skilled labor force as great advantages for their future projects.
With a convenient location, near Hungary and Serbia borders, Timisoara benefits of good road connectivity and is Romania’s Southwestern university hub. The local office stock stands at 294,000 sqm, with prime rent at 14.5 EUR and a vacancy of 15%, according to data from CBRE Romania. Some of the key leasing transactions in H1 2022 include Atos, Access Group and Amazon at UBC 0 and 1 by Iulius.
The modern retail stock accounts for 199,500 sqm, while the retail stock density (SQM/1,000 Inhabitants) reached the level of 607, as indicates data from CBRE. The city’s dominant retail projects are Iulius Mall with 93,000 sqm, part of Iulius Town mixed use scheme, in the portfolio of Iulius Group and Shopping City Timisoara with 56,900 sqm, part of NEPI Rockcastle portfolio.
The logistic & industrial stock comprises 548,100 sqm, prime rent level is 3.85 EUR, while the vacancy rate stands at 7.4%. Timis county claims the largest share of modern industrial stock from the West & Northwestern region, hosting numerous production, logistics and storage facilities. VGP has a presence of over ten years in Timisoara, with one of the most modern industrial parks in Western Romania. The site offers six modern industrial buildings with an area of 155,000 sqm hosting tenants such as Quehenberger Logistics, Ericsson Continental, Hafele or Kathrein.