Romanian industrial market. Drivers of growth in times of crisis

Logistics plays a crucial role in the production and distribution of vital goods, from food to medical protection kits. “Beyond the fast adaptability to the new paradigm of COVID-19, logistics seems to be the key field of real estate for supporting economic recovery. The industry starts to take evident measures for creating better services and infrastructure” – Șerban Juverdeanu, Head of Development Global Vision, featured in an exclusive editorial study at the end of lockdown: “The New Normal – Market Pulse Report, Romania” published by “Romania’s Real Estate Yearbook 2020”

Global Vision recently announced the launch of a new logistics project – Bucharest Airport Park – a boutique logistics development that will support activities related to trade and air cargo at Henri Coanda International Airport. Also, the real estate company continued all its development projects during the crisis, despite the challenges that came along.

What type of adaptive measures the company / your project(s) needed? What were the lessons of this period?

One of the major lessons of this period is putting health on the first place. Secondly, this crisis is a strong reminder that we cannot take anything for granted and every entity in the business field should improve the capability to adapt to challenges. ‘Business as usual’ has abruptly and significantly changed. COVID-19 caused short and long-term disruptions in our lives and our work organization. With a 16-year legacy of responsible business, Global Vision has been developed large-scale industrial and logistics projects for people and their future, always respecting and enhancing the safety, health and well-being of our teams, customers, partners, and communities. During the last two months, we maintained our development activity in Constanta, Chitila, Oradea and Arad by applying all the safety and prevention measures and succeeded in keeping the delivery timeline as promised. As the pace of change has globally increased, we are confident we can quickly respond to shifting business dynamics, minimizing impacts to our developing, construction and management projects and disruptions to our customers and partners.

What is the status of your current project(s) and investments planned for 2020-2021?

We have continued the accelerated growth in Romania and in the CEE region of Europe, despite the disruptions caused by the crisis. We opened many construction sites in 2019 and signed contracts with local and foreign investors. Two renowned German investors, manufacturers of auto components, had chosen our company to develop for them logistics and production centers in Oradea and Arad. Also, in 2019, Global Vision launched Constanța Business Park. An impressive project spread over a 100Ha land, near the Port of Constanța, developed in association with Globalworth. We continued the works at the development of Chitila Logistics Hub as well, the second industrial project we develop with our partner Globalworth. Certainly, we will keep and maybe even accelerate the pace for the coming years as the logistics field seems to have a crucial role in the post-pandemic era. We target strategic locations. We believe in the power of cities, in projects meant to change local communities. To open their doors to new horizons of education and development.

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