Belgian developer announces EUR 75 mln investments in Romania

Belgian real estate developer Warehouses De Pauw (WDP) announced EUR 75 million worth of new investments in Romania. The group will add some 130,000 sqm in property to its local portfolio, both through new development projects and through acquisitions for existing and new clients. On completion, this new investment package will bring WDP’s total property portfolio in Romania to about EUR 500 million, or 15% of its total property portfolio, by late 2019. The Belgian company will develop two new warehouses totaling 80,000 sqm at its site in Stefanestii de Jos for Metro and fashion retailer LPP. These investments will total EUR 43 million. The group will also buy a 33,000 sqm warehouse in Cluj-Napoca, which is fully leased to retailer Profi, for an estimated EUR 22 million. It will also build a 20,000 sqm warehouse next to the Ursus beer factory in Buzau, which will be leased to the brewer. This investment amounts to EUR 10 million. The group presented its plans during its Investor Day event in Romania. “These investments highlight the importance of Romania in our property portfolio. The ‘Investor Day’, kicking off today, is further proof of this,” said WDP CEO Joost Uwents. editor@romania-insider.com