HIGHER WAREHOUSE RENT PRICES IN SERBIA IN THE FIRST QUARTER

27. Apr 2023
Photo: Freepik

The continuous increase in demand, accompanied by the growth of construction costs and inflationary pressures, affected rental prices in the industrial real estate sector in Serbia. Construction activity remains strong, with several completed projects in the first quarter of the year, according to the CBRE consultancy's report on developments in the field of industrial real estate for Q1, reports plutonlogistics.rs.

Following the trends of previous years, 2023 started favorably for the sector of industrial and logistics facilities in our country. The development of this segment, which has been noticeable in recent years, continued in Q1 of 2023 due to the increased interest of investors in Serbia. Also, the impact of the nearshoring trend in supply chains continues as more and more companies look for ways to reduce operating costs and increase efficiency.

When it comes to rents, prime rents increased during Q1, reaching EUR 4.75 per m2 per month. This represents a growth of over 10% compared to the comparable period of the previous year, which, according to analysts, is the result of higher operational and construction costs due to rising inflation.

When it comes to completed buildings, in the first quarter of 2023, numerous production capacities, as well as distribution warehouses, were delivered.

Continental Tobacco opened a facility in Šimanovci, which covers 13,500 m2, most of which is used as storage space. Milšped opened the auto-logistics center AML House, in which 3.5 million euros were invested. The company Delta Real Estate has completed the second phase of the distribution warehouse in Nova Pazova - DTS 2 covers 16,000 m2, intended for Ananas e-commerce.

If we are talking about secondary cities, Switzerland's Etampa completed its first factory in Serbia and its third in the world in Kruševac. Another company that produces electronic devices for cars is the German Continental, which opened a production facility in Kać.

When it comes to planned investments, there are also a large number of noteworthy projects.

In the wider area of Belgrade, the seventh phase of the Belgrade Industrial Park is in the final phase of construction, which will mean another 14,000 m2, and IPB 8 and 9 have also been announced. In addition, Besico plans to build 46,000 m2 in Nova Pazova. Among the recently launched projects is VGP Park One, whose construction has started in Dobanovci.

One of the most active investors in the industrial sector, the company CTP, is building CTPark Belgrade Center BGD1, while CTPark Belgrade Center BGD is in the second phase of planning. Also, CTPark North 5 is under construction, while CTPark North 6 and 7 are in the planning phase. A significant expansion of CTPark West was also announced, which should significantly increase the company's portfolio. When it comes to secondary locations, CTPark Novi Sad City is planned.

Lidl is developing the second phase of its center in Lapovo.

There are also big plans of manufacturing companies (Haitian Machinery, Roloplast Mošić, Palfinger, Minth).

Source: plutonlogistics.rs

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