P3 developer buys land for Bucharest logistics park expansion

P3, one of the biggest owners of logistics spaces in Romania, has acquired a plot of over 17 hectares near its P3 Bucharest logistics park in Chiajna. The group aims to develop the park by adding up to 500,000 sqm of new warehouses in the next two years. The new plot allows the construction of a warehouse of up to 100,000 sqm. The company has decided to expand the logistics park because of the higher customer demand. P3, owned by GIC, Singapore's Sovereign Fund, currently has a total of 370,000 sqm in 14 warehouses in the P3 Bucharest park. The logistics park is located 13 km from the center of Bucharest, on the city's ring road. P3 will deliver two new buildings in P3 Bucharest park by the end of this year. editor@romania-insider.com