Company CEO and founder Muler Onofrei said Craiova was chosen for the construction of the park due to a high demand of Class A space, with surface areas ranging from 2,000 to 10,000 sqm.
The project awaits the construction permit. Element Industrial plans to start works on the first phase of the project in the fourth quarter of 2019.
Element Industrial, established by businessman Ionut Dumitrescu and by Muler Onofrei, has recently entered the market, announcing its first project called Eli Park 1, an investment of EUR25 million in Chitila area.
In terms of business strategy, Element Industrial targets projects of 50,000-60,000 sqm in capital Bucharest and in secondary and tertiary cities where there is demand for Class A logistics space.