The new project will be developed on a 250,000 square meter plot at the intersection of the A3 Bucharest-Ploiesti highway and the current Bucharest beltway and have a potential gross lettable area of about 120,000 square meters in four buildings.
“The north of Bucharest is a new expansion hub for logistics. Ever since the Bucharest Beltway expanded between A1 (highway) – DN1 (national road) – A3 (highway) and E85/DN2 one can notice the migration of development of property from west to northwest and north,” says Adrian Crizbasianu, country manager of VGP Romania.
“We are looking at new acquisitions. We’ll consider any area with direct access to the Beltway, most likely in the south and east of the city, as well as in other major cities like Cluj.”
Construction on the first 28,000 square meter building should begin in June 2021 and delivery to the first tenants is scheduled for December 2021.
VGP Romania, a subsidiary of VGP group, which has been present in Romania since 2007, owns operational logistics and semiindustrial parks in Timisoara and Sibiu, as well as parks under construction in Brasov and Arad. The group owns 77 parks in 12 European countries is expanding on all its markets.
(English version by Loredana Fratila-Cristescu)