Dedeman acquired 14.5 hectares of land in Timisoara from Tiriac Imobiliare

Dedeman, the largest DIY retailer on the local market, has recently acquired 14.5 hectares of land in the North of Timisoara, next to the future Ikea store, from Tiriac Imobiliare, in a transaction brokered by real estate consultancy Colliers.

Thus, Dedeman consolidates its position in the city in the North-West of the country, where it has two more stores. The acquisition has the potential to be a catalyst for significant new transactions in 2022, being an important benchmark for local market liquidity and contributing to increasing investor confidence.

“Dedeman bought one of the best plots of land in Timisoara, in terms of real estate potential. Dumbravita area has been growing steadily for several years, and this trend will continue with the opening of the Ikea store and the expansion of residential developments. In these conditions, the future project – regardless of the configuration that will be decided by the new landowner – has every chance to become a magnet for the entire North-West region of the country”, explains Sinziana Oprea, Director Land Agency at Colliers Romania.

Last year, the land transaction market for real estate projects (residential, retail, offices, hotels, excluding agricultural and industrial) recorded its highest value since 2007. Total transaction volume exceeded 800 million euros, up by more than two and a half times from an estimated 310 million euros in 2020, according to the 2021 annual report released by Colliers.

Bucharest and surrounding areas accounted for about 75% of the nominal transaction volume, Colliers consultants estimate, explaining that there are many transactions with large platforms for mixed-use projects where the share allocated by developers to various sectors is not completely sure. Retailers and residential developers have been extremely active, with land for such projects accounting for about 90% of the total.