One United owners expand into industrial spaces market in Romania

The founders of Romanian real estate developer One United, Victor Capitanu and Andrei Diaconescu, together with their former partners at Capital Partners, Doru Lionăchescu and Vlad Busila, are preparing to develop their first logistics park near Ploieşti (60 km north of Bucharest).

They plan to become an important player in this segment of the real estate market that has been very dynamic in recent years. They are in the process of getting the building permits for a land plot of about 49 hectares the four partners purchased before 2007, where the construction works for the first stage of One Ploieşti Logistic Park will begin, Profit.ro reported. The lot is large enough for the development of 220,000 square meters of warehouse space.

The development of the first stage of the project involves an investment of about EUR 25 million, according to Profit.ro calculations. The project also envisages the construction of about 20,000 square meters of office space.

“The land was bought before One United was set up and is located across the road from the Kaufland Logistics Center, near Ploiesti ring road. For now, One Industrial is not part of One United Properties but acts separately. We thought it is better to develop the land than to sell it. We are now in the process of getting construction permits for about 60,000 square meters. We do not build speculatively, as a rule. The project manager, Nicholas Nabil Bouri, has several tenants with whom we are discussing and will build on demand,” Victor Capitanu told Profit.ro.

(Photo source: Oneindustrial.ro)