Romania’s construction market undergone rapid expansion in recent years, and European Union membership can only serve to accelerate this trend. The growth of Romanian economy as a whole indicates that this trend will continue in the years to come, creating substantial new market opportunities.
The Commercial Real Estate market, in particular, has recently entered a period of dynamic growth. Construction engineering projects now have access to substantial financial support from the EU, also critical to the development of many major infrastructure projects. The future in the residential housing sector is also optimistic for construction interests, both for new building projects and in the renovation and maintenance of the existing housing stock.
International investors, including construction companies, are busily making plans to expand their activities in Romania as many local companies lack the specific financial and technical resources required to serve all planned investments, especially the largest EU-founded infrastructure projects.
Our report, Construction sector in Romania 2008 - Development forecasts for 2008-2010, contains the most important and up to date statistical data about the construction sector in Romania, as well as analysis of current market conditions and forecasts for growth up to the year 2010. Professionals will benefit from our lengthy and detailed experience of forecasting in countries that have undergone a similar economic transformation.
The report functions as a useful tool for:
- top managers of construction companies active in Central and Eastern Europe - strategic planners and executives of firms considering Romanian market entry - companies engaged in construction and those in production and distribution of building materials in the region - architectural and consultancy firms interested in this market - developers interested in the Romanian market - embassies - Road and construction equipment producers - commercial and investment banks - REITs (Real estate investment trusts) and investment funds.
Table of content:
Methodology
Executive summary
Macroeconomic environment of the construction market in Romania
Gross domestic product
Investments
Inflation
General situation in Romanian construction
Forecast for the construction market for 2008-2010
Employment in construction
Construction companies
Taxes related to construction
Production of basic building materials
Formalities regarding the construction investment process and building
Civil engineering construction in Romania
Transport infrastructure
Road network
Motorway construction
Railway network
Airport construction
POS-T (Sectorial Operational Programme for Transport)
Environmental and rural infrastructure
Governmental rural infrastructure programmes
Environmental programmes
Development forecasts for the civil engineering segment for 2008-2010
Residential construction in Romania
Housing stock
Homes completed and new construction permits
Housing loans
Housing projects and prices
Government programmes for stimulating housing construction
Development forecasts for residential construction in 2008-2010
Annex
Non-residential construction in Romania
Commercial building construction
Industrial and warehouse construction
Office market
Development forecasts for non-residential construction in 2008-2010
Profiles of the largest companies
Romelectro
Electromontaj
Comnord
Vega93
Cominco
Energoconstructia
Summa Romania
Alpine
Euroconstruct
Timcon
Bog’Art
Arcom
Conarg
Strabag
List of graphs
List of tables
List of graphs and Tables:
List of graphs
Development regions of Romania
Construction works, GDP and GVA in construction in Romania (%, real y-o-y changes), 2000-2007
Forecast for construction and assembly output in Romania, by type of construction work, 2008-2010
GDP growth in Romania (%, y-o-y), 2000-2009
Construction share in GVA in Romania (%), 2000-2007
Gross fixed capital formation in Romania (%, y-o-y changes), 2000-2007
Foreign direct investment in Romania (€ bn), 2000-2008
Allocation of EU Cohesion funds in Romania in 2007-2013, by purpose
CPI in Romania, 2000-2010
Value and y-o-y real changes of the construction market in Romania (RON bn and %), 2000-2007
Breakdown of construction and assembly output in Romania (%), 2005-2007
Breakdown of construction and assembly output in Romania (%), 2006-2007
Construction and assembly output in Romania, by type of activity, 2006
Forecast for construction and assembly output in Romania (%), 2008-2010
Employees per sector in Romania, 2006
Average gross salary in Romania (€), 2001-2007
Average gross monthly salary in Romanian construction (€), 2006-2007
Revenues (€) per employee, 2006
Construction companies in the total economy in Romania, 2006
Number of construction companies (’000) in Romania, 2001-2006
Construction companies by number of employees (%), 2006
The share of small and medium companies in the total construction market (%), 2001-2006
Cement consumption in Romania (m tonnes), 2005-2009
Cement consumption in Europe (kg per capita), 2006
Constribution of civil engineering construction and assembly output in Romania, 1997-2007
Civil engineering construction and assembly output in Romania, by type of building, 2005-2006
Breakdown of transport infrastructure works in Romania, 2006
Construction and assembly output, transport in Romania (RON bn), 2004-2006
Length of total road network by category and country (’000 km), 2004
Map of planned motorways by 2013 in Romania
Main railway routes in Romania, 2007
Transport of goods in Romania by type, 2006
Number of passengers at Romanian major airports (’000), 2005-2007
Romanian Airports location on the map
Forecast for civil engineering construction and assembly output in Romania (%, y-o-y growth), 2008-2010
Construction and assembly output of residential construction in Romania (RON bn), 2000-2006
Contribution of residential construction to total construction and assembly output in Romania (%), 1997-2007
Residential construction and assembly output in Romania by type of building, 2005-2006
Homes completed in Romania (’000), 2000-2007
Residential permits issued in Romania (’000), 2002-2007
Homes under construction by state of construction in Romania (’000), 2006-2007
Homes under construction in Romania (’000), 2001-2007
Issued construction permits, homes under construction and completed homes (%, y-o-y change) in Romania, 2003-2007
Number of completed homes per 1,000 inhabitants in Romania, by regions, 2005- 2007
Number of individual homes for which construction permits were issued, 2006-2007
Real estate loan market in Romania (€ bn), 2005-2007
Housing loans per region structure in Romania (%) 2005-2007
Ferecast for residential construction and assembly output in Romania (%, y-o-y growth), 2008-2010
Construction and assembly output, non-residential construction in Romania (RON bn), 2002-2007
Constribution of non-residential construction and assembly output in Romania, 1997-2007
Construction and assembly output of non-residential construction by type of building, 2006
Area of shopping centres in Romania (’000 m2 and % change), 2004-2009
Number of hypermarkets in Romania, 2004-2008
Construction and assembly output, industrial buildings and warehouses in Romania (RON bn) , 2000-2006
Bucharest business areas, 2007
Forecast for non-residential construction and assembly output in Romania (%, y-o-y growth), 2008-2010
List of tables
Official average exchange rates €/RON, 2001-2007
Construction and assembly output, by type of building in Romania (RON m), 2004-2006
Average gross monthly salaries in industry, construction and trade in Romania (€ and RON), 2007
Construction companies in Romania by number of employees, 2004-2006
Major Romanian construction companies by revenues and profit (RON m), 2006
Largest cement producers in Romania, 2006
Largest concrete producers in Romania, 2006
Largest mortar producers in Romania, 2006
Largest lime producers in Romania, 2006
Road network in Romania, 2006
Motorway construction in Romania, 2007-2013
Road construction works by CNADNR, 2007-2008
Length of the railroad network in Romania (km), 2004-2006
Railroad goods transportation in Romania (‘000 tonnes), 2004-2007
Air transportation in Romanian, 2005-2006
Romanian airports by passenger number, excluding transit, (‘000 passengers), 2005-2006
Transport infrastructure investment (‘000 RON), 2007-2008
Financing plan of POS-T in Romania (€ m), 2007-2013
Pre-adhesion EU funding structure in Romania
POS Mediu structure in Romania
Number of homes completed in Romania, by regions, 2005-2007
Apartment prices in Bucharest (€/m2), 2008
Major residential projects that will be delivered in 2008 in Bucharest
Estimated price for apartments in major cities in Romania
Number of homes for which construction permits were issued in Romania and area in m2 by regions, 2006-2007
Completed homes by regions, counties and source of founding, 2007
Existing shopping centres in Bucharest, by 2008
Shopping malls projected to open between 2008-2010 in Bucharest
Existing shopping centres in major Romanian cities
Planned shopping centres in major cities of Romania, 2008-2009
Stores of hypermarket operators in Romania, 2006-2007
Discount chains in Romania, 2006-2007
Supermarket chains in Romania, 2006-2007
Largest logistics lettings in Bucharest, 2007
Planned industrial and logistics space investment in Romania, 2008-2013
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Commercial property in Romania: Keeping the construction market growth high - April 2008
Commercial property space in Romania is witnessing significant growth. Although the highest growth in the market is in the non-residential segment, the whole Romanian construction market is growing at a high and stable pace. It is expected to maintain this trend in 2008-2010.
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