Element Industrial through its CEO and CO-Founder, Muler Onofrei was present at the industrial panel of CEDER 2019, the biggest real estate conference. Panelists discussed the hot topics of the market, innovation and automation being one of them. “Taken into consideration the high investment set-up costs (up to three times the value of the property) we consider that automation is not a viable option on a medium-term. Workforce availability and public transportation to the park are key factors for developing new industrial hubs”, Muler Onofrei explained.
CEDER 2019 took place at the Radisson Blu Hotel in downtown Bucharest on May 29 in front of well over 300 people. It was a full day of discussions that analyzed how real estate investors and developers are adjusting their strategies to this late-cycle stage of the market.
Overall, participants at the conference voiced the opinion that come what may in the next 12 to 24 months, Bucharest is in a far better position than the last time a major market shift occurred. Yields are far less aggressive today than they were a decade ago and developers are far more cautious.