In Romania, the company has two active lo¬gis¬tics parks, namely, VGP Park Timisoara and VGP Park Sibiu, respectively.
Construction works on the first building will begin in 2020 and the delivery is scheduled in the second half of 2021.
Over the past 15 months, almost 77,000 square meters of industrial space have been leased in western Romania. The current stock of 700,000 sqm has a vacancy rate of 5.2% and an additional 75,000 sqm of industrial space are under construction in the counties of Timis, Arad and Bihor and are scheduled to be delivered until the end of 2020, per CBRE Research data.
VGP was established in the Czech Republic in 1998 and currently holds properties in 12 European countries, directly or through VGP European Logistics, a joint venture with Allianz Real Estate.
VGP is listed on the Euronext Brussels and the Prague Stock Exchange.