Dedeman owners to develop EUR 25-30 mln logistics park in Bacau
Romanian entrepreneurs Dragos and Adrian Paval, the owners of local DIY retail chain Dedeman, continue their collaboration with local investor Ionut Dumitrescu. The three investors will develop a logistics park near Bacau after they initially collaborated to build the ELI Park 1 logistics park near Bucharest.
The company Paval Holding, owned by Dragos and Adrian Paval, took over 80% of Eli 6 Industrial, the investment vehicle set up by Ionut Dumitrescu for developing the logistics park in Bacau.
"The project will have about 65,000 sqm because we have a land of 13 hectares. We have not yet decided when the works will start. The situation created by the pandemic does not affect our decisions, because the industrial [real estate] sector is the least affected," Ionut Dumitrescu told Profit.ro.
The development cost of this project is about EUR 25-30 million.
The Paval brothers started their partnership with Ionut Dumitrescu in August 2019, when they took over 70% of the company that develops the Eli Park 1 logistics park, located in the Chitila-Buftea area, north of Bucharest. Among the tenants of this project are Arctic and Easter Baneasa.
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