Belgian logistics developer triples portfolio in Romania

Belgian real estate developer Warehouses DePauw (WDP), which specializes in industrial and logistics spaces, has tripled its investments in Romania in the last year as it invested tens of millions of euros in new warehouses and land plots.

In the first half of this year, the developer delivered pre-leased spaces with a total area of 107,100 sqm, 60% of which were in Romania, local reported. The investments in these spaces amounted to EUR 29 million, according to company data.

The company’s plans also provide that 108,100 sqm of new warehouses will be delivered in the second half of this year, after EUR 62 million investments.

The total value of WDP’s finalized properties in Romania reached EUR 231.5 million at the end of June 2018. Adding the land plots and ongoing investments, the total portfolio amounts to EUR 340 million, up from EUR 92.8 million one year ago.

From 11 finalized projects totaling 95,000 sqm, in June 2017, the company reached 19 projects with 434,000 sqm, in June this year. The company also tripled its land base, from 1.19 million sqm in 2017 to 3.24 million sqm this year.

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(photo source: WDP on Facebook)