CBRE: Retail Networks Expected To Drive Land Trades In 2011

05.16.2011 By Andrei Circhelan

Hypermarket and supermarket chains will top the activity chart on the Romanian land market in 2011 as well, since developers are focusing on projects previously frozen because of the economic crisis, real estate consultants CB Richard Ellis said Monday.

"Last year's trend will continue this year as well. Hypermarkets and supermarkets will be the most active buyers, since developers are focusing on the projects stopped three years ago," said Luiza Moraru, head of the retail department at CB Richard Ellis Romania.

"Almost all hypermarket and supermarket operators have announced aggressive property securing plans. Each of them is planning 4-5 such transactions, thus the overall traded area could be impressive, namely we could see two-digit growth on this segment," she added.

Moraru said transactions could involve plots owned by factories, as well as by developers who abandoned their projects because of the economic crisis.

Hypermarket and supermarket chains were the main land buyers last year, unfolding more than half of all transactions, according to CBRE data.

On the retail segment, the company brokered transactions worth a total EUR12.3 million in the first quarter.

Regarding the industrial segment, CBRE department head Marian Orzu said there is an increasing interest in production space for the auto industry.

On the office space segment, the company brokered transactions for 22,000 square meters, worth a total EUR8.77 million.