Manufacturing is gaining ground in Romania’s industrial and logistics market, as a growing number of companies consider the country for manufacturing operations and nearshoring. Approximately 28% of publicly announced leasing transactions in the first half of 2026 involved manufacturing space, almost double last year’s share and well above the typical 10-15% range, according to Colliers’ report on the real estate market’s performance in the first half of the year.
At the same time, around two-thirds of demand came from new leases or relocations from less competitive premises. Overall, publicly announced transactions reached approximately 340,000 square metres, around 20% below the level recorded in the first half of last year, but 47% above the average for the same period in 2017-2019.
”Despite the current geopolitical and economic backdrop, which is far from favourable, the market’s performance points more to a return to a normal pace following the record year of 2025 than to any fundamental weakening. Colliers’ data only includes transactions for which information is publicly available, while a significant proportion of direct agreements between landlords and occupiers, whether new leases or renewals, are not publicly announced, meaning that the actual level of activity may be higher. After an exceptional year, some moderation in activity was only natural, and the first half of 2026 remains surprisingly strong by historical standards. More important than the decline in overall volume, however, is the changing nature of demand. Manufacturing is gaining increasing traction, we are seeing recurring requirements that were simply not present a few years ago, as well as growing interest from Asian manufacturers, particularly Chinese companies, which are assessing Romania as a nearshoring base for the European market. This is particularly important for the industrial and logistics market, as manufacturing companies tend to be more stable occupiers and remain in their premises for longer”, explains Victor Coșconel, Partner | Head of Leasing | Office & Industrial Agencies at Colliers.
Relevant transactions in the first half of the year included Iron Mountain’s 28,000-square-metre lease renewal in Bucharest, Autonet’s 26,000-square-metre renewal, also in Bucharest, a new 15,000-square-metre lease signed by Siemens for a factory in Sibiu, as well as two new manufacturing facilities of more than 20,000 square metres, one near Bucharest and the other in Ploiești. These transactions confirm sustained interest in industrial and logistics space and come against a backdrop in which Romania continues to retain its competitive advantages for such activities.
According to data analysed by Colliers, for every euro spent on labour in transportation and storage, Romania generates approximately 2.7 euros in added value, compared with around 1.7 euros across the European Union. Labour market data reinforces this advantage further. In July 2026, none of the Romanian companies surveyed by the European Commission in the warehousing and transport support activities sector cited a lack of workers as a factor limiting their activity, compared with 21% in the euro area, 49% in Poland and 38% in Hungary. Romania is also well positioned to attract new manufacturing investment: a 2026 Colliers analysis shows that 9 out of 10 Romanian counties rank among Europe’s most competitive locations for manufacturers, alongside regions primarily in Poland, France and Spain.
Another important advantage is infrastructure, which is playing an increasingly significant role in companies’ location decisions. Bucharest’s A0 motorway is improving the attractiveness of areas that until recently were considered secondary locations, including the north of the capital around Buftea, as well as the east and south. The pace of investment is already visible: Romania had more than 1,400 kilometres of high-speed roads at the beginning of 2026, compared with around 900 kilometres before the pandemic, while more than 1,000 kilometres are currently at various stages of construction. Over the next five to seven years, the network could exceed 2,500 kilometres and, together with Romania’s full accession to the land-based Schengen area in 2025, this expansion could improve connectivity between regions and bring new locations onto the industrial and logistics investment map.
As infrastructure expands and companies’ requirements become more diverse, the supply of industrial and logistics space also continues to grow. Modern stock reached almost 8.3 million square metres by mid-year, after surpassing the 8 million-square-metre threshold, with most new deliveries concentrated in Bucharest. A further approximately 500,000 square metres could be added over the next two to three quarters. At the same time, competition between developers is intensifying: CTP and WDP remain the market leaders, while VGP, Element Industrial, Logicor and Industra Parks are accelerating their development pipelines, and Lion’s Head, Garbe Industrial/Fortress and Hillwood are preparing their first local projects.
Greater competition between landlords is helping to contain upward pressure on rents and maintain a more balanced market. For a well-located warehouse of approximately 5,000 square metres, leased for five to seven years, rents in the Bucharest area stand at around 4.5-5 euros per square metre per month. In certain locations and transactions, rents can fall towards 4 euros per square metre per month or even below this level. Vacancy rates remain below 10% across most of the country, meaning that companies looking for large spaces cannot always find suitable options immediately. However, several landlords already have land ready for new developments across different regions, supporting future supply and helping the market remain relatively balanced.
”In the short term, companies remain cautious and are postponing some decisions because of the weaker economy, fiscal adjustments, political uncertainty and the challenging external environment. We are seeing fewer very large requirements reaching an advanced stage, but we do not believe this indicates a strategic shift away from Romania. Market fundamentals remain solid: infrastructure is improving, the relationship between labour costs and productivity remains highly competitive, and Romania still has less logistics space per capita than other markets in the region. Against this backdrop, reaching a stock of 12-14 million square metres appears to be more a question of when than if”, adds Victor Coșconel., Partner | Head of Leasing | Office & Industrial Agencies at Colliers.
For the remainder of the year, Colliers consultants expect demand to be lower than in the recent record years, while still remaining at a healthy level compared with the 2015-2019 period. Over the medium and long term, the outlook remains positive, supported by competitive costs, productivity, infrastructure investment, full Schengen accession and the shortage of modern space relative to population and consumption levels. In Colliers’ view, the industrial and logistics market remains one of the Romanian real estate sectors with the strongest development potential.