Serban Juverdeanu, Global Vision: “It is very difficult to identify new plots for future projects”

“At the beginning of the year, we were expecting to move faster towards a post-pandemic context, but that transition seems to be getting longer. It is very difficult to draw clear directions for 2022. One cannot yet speak of a post-pandemic context. We have continued our developments in 6 points in the country and we are looking to start discussions for 3 more locations. The requests that we are talking about and that are being processed are quite diverse. Logistics is somewhere at 50 percent of the share of requirements addressed by tenants, but we still have production facilities perhaps more varied than last year,” Serban Juverdeanu, Head of Development, Global Vision said during Real Estate Forum 2021 organized by The Diplomat-Bucharest.

“We have many automotive customers in the western part of the country. We will continue with another production facility in this area and this field from the very beginning of next year. We are working on two light industrial projects in Constanta and Bucharest. There is a diversification in the market, and we are interested in both developments in logistics and production. Flexibility for us means addressing specific requirements from each client.

We are trying to build a functional concept from the beginning of the project. When signing the contract, we are quite sure what exactly should be implemented. We are active in identifying built-to-suit projects, with a medium- or long-term rental period. We have 100,000 square meters under construction and another 50,000 sqm waiting for permits.

In Constanta we have a land of one million square meters on which we want to have about 500,000 square meters of mixed-use projects. The industrial is the core business there, but we will also develop the retail part. We are also thinking of nature friendly office buildings, with green spaces for a local community.

We try to invigorate the Romanian industry and build as many new projects as possible. very difficult to identify new plots for future projects. Land prices are already huge, and this will be a big challenge for developers. Coherent urban planning would be very helpful.”

Full recording of the event here: https://www.youtube.com/watch?v=mzVEjyAQc3Q