Belgian developer VGP buys 39 hectares of land for logistics park in western Romania

Belgian developer VGP recently acquired 39 hectares of land in Arad, western Romania, for a new logistics project.

The transaction mediated by CBRE Romania, with a double-digit value, is the largest land acquisition in the west of the country this year.

"Romania still has a lot to offer in terms of logistics developments. The acquisition of a new land plot in the west of the country with direct access to the A1 highway, started before the COVID-19 pandemic and successfully concluded, reaffirms VGP's commitment to become a reliable partner in Romania for companies that demand first-class industrial spaces. We are planning to develop 60,000 sqm of industrial spaces next year in Romania, in addition to the 155,000 sqm we already own. Furthermore, we are actively searching prospective new lands, similar to this acquisition, which was concluded through the CBRE team," stated Adrian Crizbăşianu, country manager, VGP Romania.

The land plot purchased by VGP is strategically located at the junction of two of the main roads in Arad area, National Road 69 Timisoara-Arad, respectively the A1 highway, ensuring utmost visibility and easy access to the project.

The construction works for the first building will start this year, the delivery being planned in the second half of the following year.

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