October 20 (SeeNews) - Belgian logistics property developer Warehouses de Pauw (WDP) said on Wednesday that it plans to deliver almost 145,000 sq m of logistics space in Romania between the fourth quarter of this year and the second quarter of 2022, following total investment of 102 million euro ($119 million).
Five of a total of eight projects are set for delivery in the fourth quarter of this year, WDP said in a financial statement for the first nine months of 2021.
Two projects - in Stefanestii de Jos commune in Ilfov county for footwear retailer Eobuwie and wholesale retailer Metro, require investments of 8 million euro and 5 million euro, respectively. Two other projects - in the northwestern city of Cluj-Napoca, for Fedex and various customers, are worth 2 million euro and 10 million euro, respectively. Another project - for local retailer Profi, is located in Roman, northeastern Romania, and required an investment of 14 million euro.
A fully let project in the central region of Transilvania required an investment of 19 million euro and is set for delivery in the first quarter of 2022. Another two projects - for Metro and Profi in Buzau and Timisoara respectively, worth a total 44 million euro are set for delivery in the second quarter of 2022, according to the statement.
In the third quarter of 2021, WDP acquired a strategic land holding of over 60,000 sq m for future development in the western city of Timisoara for 5 million euro. The land plot is located next to the Sport Mechanical Workshop bicycle factory, an exclusive supplier to sporting goods retailer Decathlon.
In April 2020 WDP announced that it plans to expand its portfolio in Romania from 500 million euro to 1 billion euro by 2023.
WDP develops and invests in logistics property, namely warehouses and offices and has a property portfolio of around 5.5 million sq m at prime logistics locations for storage and distribution in Belgium, France, the Netherlands and Romania.
($=0.8602 euro)