Two Romanian entrepreneurs invest together EUR 90 mln in industrial spaces

Serb businessman Sacha Dragic - who made his fortune in the Romanian gambling industry - and Romanian entrepreneur Ionut Dumitrescu - who set up in 1997 real estate consultancy firm Eurisco later sold to CB Richard Ellis in 2008 - joined forces and put together EUR 90 mln for financing logistic and industrial spaces. The two aim at developing 500,000 sqm of such projects within four years.

The project will be developed by the new entity created from the partnership between Ionut Dumitrescu’s investment vehicle Element Industrial and D Craig Real Estate, the real estate division of the investment fund D Craig Holding, controlled by Sacha Dragic, according to Economica.net.

In the second phase, the strategy involves accelerated national expansion and the interconnection - including through land acquisitions of a similar nature - with logistics parks in Central and Eastern Europe.

Ionut Dumitrescu is the founder of Element Group, a real estate development company focused on retail, industrial & office sectors that develops projects in this market segment (industrial and logistic) in partnership with other local entrepreneurs - such as Paval brothers (owners of Dedeman DIY chain).

After selling part of his most impressive project so far - Superbet betting company - Dragic developed a diversified investment portfolio - in financial services (minority stakes in the Mozaik Investments fund and Certinvest), but also in companies listed on Bucharest Stock Exchange, such as Holde Agri. Dragic also controls D Moonshots, a direct and indirect venture capital fund (Venture Capital).

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