THE ECONOMIC CRISIS ELUDES LOGISTIC CENTERS

Stock of space activities for modern logistics and storage available in Bucharest has reached 590.000 square meters in the first half of this year, according to a report published last month by Atisreal, the real estate division of BNP Paribas.

Specialists of the French company forecast that in the first half of next year the stock will increase by over 100.000 square meters. This suggests that the local market will see no catastrophic adverse consequences of the real estate crisis across the Atlantic. ”Despite the global financial turmoil as a result of the US sub-prime crisis, the local property investment market has been relatively active with a number of significant transactions recorded. Under the circumstances of pessimistic views, the first semester of 2008 proved to be a period of growth in investments,“ says Ioana Momiceanu Mrics, Managing director Atisreal Romania. Given the current development of infrastructure and the geographical concentration of commercial projects, the most requested area remains the western part of Bucharest. However, a part of the tenants took into account the option to rent spaces in the northeastern city, as the proposed infrastructure projects will increase the attractiveness of this area, noted the Atisreal survey.