Untapped potential for logistic sector in Constanta

Untapped potential for logistic sector in Constanta

Untapped potential for logistic sector in Constanta 2560 1662 ROMANIA PROPERTY CLUB

The Constanta logistics market is still pending solid demand in order to grow and match the economic prospects the county is promising.

The stock of modern warehousing remained similar to 2022, close to 150,000 sq m. The main development – Constanta Business Park is conserving efforts pending more consistent tenant demand, whereas the new development announced by Olympian Parks is under the permitting approval process, expected to start this year. WDP did not announce any new developments at its two sites – in Agigea and Mihail Kogalniceanu.

The main construction activity in the sector was driven by local companies, which opened or extended a series of production facilities (in consumer goods, construction) and DP World. The newly delivered RO-RO facility integrated with a logistics hub in Aiud to facilitate transportation for Romanian exporters producing in the West side of the country and the new warehousing capacity were the main developments in the county in terms of industrial and logistics. The construction of a logistics platform of 110,000 sqm was also started, an investment of 50 million Euro, which will be completed next year. “Romania is a dynamic economy and well positioned to benefit from the growth of the nearshoring sector and production,” said Rashid Abdulla, CEO and Managing Director, DP World Europe at a recent company event.

Accession to the Schengen Area, the decrease of insurance costs for naval ships transiting the Black Sea, as well as diversification of global commerce routes should boost the logistics sector development in Constanta.

The prime asking rent for modern warehousing in Constanta is 4.3 EUR/sqm.