Romanian developer Element Industrial plans to start a 60,000 sqm logistics park in Craiova, which will require a total investment of EUR 35 million.
The company will build the industrial project on an 11-hectare plot of land, near the Ford factory and the city’s south ring road, with direct access to the E70. The intention of the developer is to deliver ELI PARK Craiova in three phases, a large-scale logistics park designated to serve the southwestern part of the country.
“We believe that the area surrounding Craiova will become an important production and logistic hub, if we take into consideration the existing significant investments in the automotive industry as well as the new infrastructure projects in the area”, said Muler Onofrei, CEO & Co-founder, Element Industrial.
“We chose Craiova due to the high demand for class A spaces, with areas between 2,000 and 10,000 sqm," he added.
Work is currently underway to obtain building permits, with the company planning to start construction for the first phase in the fourth quarter of 2019.
As a business strategy, Element Industrial plans to develop projects of 50-60,000 sqm in Bucharest and in secondary and tertiary cities, where there is demand for class A logistic spaces.
(Photo source: Pixabay.com)
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