August 21 (SeeNews) - Czech logistics and industrial spaces real-estate developer VGP said that it plans to build a business park in Arad, in western Romania.
On a land plot of 39 ha, VGP Park Arad will offer as of 2021 a potential lettable area of up to 200,000 sq m, VGP said in a press release on Thursday.
VGP is present in Romania since 2007 and owns parks in Timisoara and Sibiu as well as significant land bank secured for developments in Brasov, Bucharest and now Arad.
Founded in 1998 as a family-owned real estate developer in the Czech Republic, the VGP Group operates a total of 72 parks in twelve European countries directly and through VGP European Logistics and VGP European Logistics 2, both joint ventures with Allianz Real Estate.
As of December 2019, the company had a net asset value of 741 million euro.
VGP is listed on Euronext Brussels and on the Prague Stock Exchange
($=0.8463 euro)