April 21 (SeeNews) - Belgian logistics property developer Warehouses de Pauw (WDP) said on Wednesday that it is buying several land plots near Bucharest and aims to develop a new logistics space in Transilvania, in central Romania.
WDP is currently finalising the acquisition of new land positions in the Bucharest region in the amount of 10 million euro ($12.06 million), it said in an interim statement for the first quarter of the year.
The company has also concluded an agreement in principle for a new development of approximately 25,000 sq m in Transilvania region, which is expected to be delivered in the first quarter of 2022. The investment for this project amounts to approximately 19 million euro, WDP said, without elaborating.
Until the third quarter of 2022, WDP plans to deliver almost 203,000 sq m of logistics space, following total investments of 131 million euro in Romania.
In April last year WDP announced that it plans to expand its portfolio in Romania from 500 million euro to 1 billion euro by 2023.
WDP develops and invests in logistics property, namely warehouses and offices and has a property portfolio of around 5 million sq m. This international portfolio of semi-industrial and logistics buildings is spread over more than 250 sites at prime logistics locations for storage and distribution in Belgium, France, the Netherlands, Luxembourg and Romania.
($=0.8294 euro)