Prague-based real estate developer P3, one of the biggest owners of logistics spaces in Europe, plans to expand its logistics park near Bucharest to 500,000 sqm in the next two years.

The company bought 17 hectares of land next to the P3 Bucharest logistics park for the expansion.

Last year, P3 delivered a total of 65,000 sqm three new warehouses at P3 Bucharest park. It also renewed more than 70,000 sqm of leases with existing tenants including eMag, Tibbett/Yusen Logistics, Macromex and Interbrands.

“In 2017 we continued the growth of our park at km 13, both though the development of new warehouses as well as through the acquisition of additional land. We are ready for a very dynamic 2018, when we intend to open new P3 locations in Bucharest as well as the Western part of the country,” said Sinziana Pardhan, Managing Director of P3 Romania.

P3 currently has a total of 370,000 sqm in 14 warehouses at P3 Bucharest and land for another 100,000 sqm of further development.

editor@romania-insider.com