Romania’s largest ongoing real estate projects are being built on former industrial platforms, with Bucharest leading the way in urban regeneration and other major cities across the country following suit, according to a new report by Cushman & Wakefield Echinox. The capital remains the most active hub for industrial site conversions due to the scale of its real estate market and the high number of available plots.
Major land transactions in Bucharest in recent years include the acquisition of sites such as Rocar (roughly 21 hectares), Roca Preciziei (12 hectares), Helitube in Colentina (8.9 hectares), Muntenia near Parcul Carol (5.7 hectares), Antrefrig (5.7 hectares), Titan Mar on Șoseaua Progresul (4.5 hectares), and Atlas in Pipera (2.9 hectares). Most were purchased for large-scale mixed-use projects combining office, retail, and residential components.
Domestic and international developers, including Prime Kapital, One United Properties, Forte Partners, Speedwell, Prima Development, and Hils Development, are driving the transformation of these areas, carefully assessing each platform’s potential for new urban destinations, the report noted.
The trend is also expanding beyond Bucharest. In Cluj-Napoca, for example, Prime Kapital is redeveloping the former Cesarom site into Transilvania Mall, while the Carbochim and Tehnofrig platforms are also being converted for major projects.
Timișoara has already seen most of its former industrial areas turned into retail and office complexes, with the Spumotim and 1 Iunie sites set for new developments. In Iași, Prime Kapital has completed Mall Moldova and is developing Silk District, both on former industrial land.
Brașov’s largest project to date, built on the 100-hectare Tractorul site, and Constanța’s Oil Terminal regeneration led by Iulius Group further highlight the nationwide scope of this trend.
Ștefan Oprea, Consultant in the Land Agency at Cushman & Wakefield Echinox, commented: “Industrial site reconversions remain some of the most compelling opportunities on the Romanian real estate market. In addition to the assets already acquired and under development, a substantial inventory of platforms is currently available for sale. These properties vary in size – from a few thousand square meters to tens of hectares – offering high investment interest across multiple investor profiles. In addition to regional hubs, we are noticing a growing interest in cities such as Craiova and Arad, which are likely to generate significant transactions in the near future.”
Analysts note that former industrial platforms offer highly attractive development prospects due to their central or peri-urban locations, good infrastructure access, and large land plots suited for integrated real estate projects.
irina.marica@romania-insider.com
(Photo source: Tsyhun/Dreamstime.com)
Leave a Reply