Office buildings and shopping complexes may have attracted most of the real estate investment in the last few years, but now it seems to be the turn of industrial developments.
Even though foreign investors, such as the Belgians at Liebrecht & wooD were the first to see the opportunities presented by the development of large industrial parks, the Romanians are now catching up. Investment in the Bucharest Distribution Park project might begin soon. This is a proposal being initiated by Romanian investors and will require more than 20 million euros.
"Bucharest Distribution Park is located in north-west Bucharest, as the north and the west of the Capital are the most developed areas in terms of industrial locations," explained Constantin Banu, head of the industrial space department of the real estate company Eurisko.
He says the distinctive mark of this project is the container terminal that will be built. "No such thing exists in Bucharest at the moment, and the city is serviced by the terminal located as far away as Constanta. Furthermore, the integrated railway makes things easier for companies that use this cheaper transportation to import and distribute products throughout the country," Banu added.
The project, which covers 27.5 ha, will be carried out in several stages, expected to take up three years.
"As soon as the first stage is completed, the construction of which will take almost a year, more than 20,000 sqm in storage space will become available, along with the container terminal. These investments will be worth 7 million euros. Upon completion of the entire project, investments will have exceeded 20 million euros," Banu explains.
Another major project on the industrial locations market similarly got the green light this year, namely the Bucharest Logistic Center. This is a 40 million-euro investment on behalf of Belgium's Liebrecht & wooD in NW Bucharest. The complex will initially be 19 ha in size, with the possibility of expanding to 44 ha given sufficient demand. The logistics centre will provide 90,000 sqm of storage space, with the maximum space allotted for a single warehouse standing at 30,000 sqm. ionut.bonoiu@zf.ro
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