Major logistics players are preparing to deliver 600,000 sqm of new warehouses in 2022, and for the first time the total volume will rise to over 6 million sqm of modern warehouses, according to consultants from Cushman & Wakefield Echinox. Previously, the 5 million sqm threshold was exceeded in 2020, when almost 700,000 sqm of new logistics centers were delivered.
The most active developers were CTP and WDP, which in total delivered over 90 percent of the new stock in 2021, followed by VGP, Globalworth and Element Industrial, which expanded their industrial platforms last year.
“The market in 2022 will be influenced by the growth of construction materials prices which has an impact of 15-25 percent on the construction cost. In these conditions, we estimate a trend of rent indexation, on the one hand due to the increase of the construction cost, and on the other hand due to the increase of the land price “, explained Andrei Brînzea, Partner – Land & Industrial Agency Cushman & Wakefield Echinox.
