Belgian real estate developer WDP announced on November 29 the doubling of the investment budget in 2023, to EUR 440 million, to finance new projects, but also new acquisitions – including a "high-yield urban logistics cluster" in eastern Bucharest for which the company paid EUR 90 million, Ziarul Financiar reported.

The developer was previously reported as negotiating to buy the Expo Market Doraly shopping complex located in Bucharest's outskirts from the local entrepreneur Gheorghe Iaciu and former HSBC bankers.

The project consists of "a cluster located on a plot of 300,000 square meters, with a leasable area of ​​100,000 square meters, which generates annual rental income of EUR 11.3 million and which is the most important wholesale sales area in Romania and which has direct access both to the current belt of the Capital and to the future A0."

Expo Market Doraly had a turnover of RON 78 million, up 4% compared to 2021, and had a net profit of RON 27.6 million (EUR 5.5 million).

iulian@romania-insider.com

(Photo source: Opoija/Dreamstime.com)