Local companies Dedeman Group and Element Industrial have entered into a partnership to jointly invest an undisclosed sum in the development of ELI PARK 1 logistic and industrial project, located northwest of Bucharest, in Chitila-Buftea.
Element Industrial, founded by local investors Ionut Dumitrescu and Muler Onofrei, announced in January that it would invest EUR 20 million in the first phase of this project.
ELI PARK 1 project is served by several public transportation lines and is located at a distance of 4 km from Bucharest Ring Road, with direct access to a national road with four lanes, DN 7. The project will total 50,000 sqm, with the first phase, comprising 20,000 sqm, scheduled to be delivered this summer. After the delivery, Element Industrial will start working on the second phase of the project.
The first tenant of the logistics park is Paste Baneasa bakery, which already leased a surface of 5,000 sqm.
Element Industrial has recently announced plans for a 60,000 sqm logistics park in Craiova (southern Romania), which will require a total investment of EUR 35 million.
Dedeman, controlled by Dragos and Adrian Paval, is the biggest entrepreneurial business in Romania. The group has been diversifying its operations in recent years with significant investments in office projects and listed energy companies.
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Romanian developer Element Industrial plans to start a 60,000 sqm logistics park in Craiova, which will require a total...