Element Industrial to deliver 300,000 sqm of logistics parks in the next three years

Element Industrial announces the completion of the first phase at ELI PARK 1 Chitila. The warehouse, with an area of 20,000 sqm, is rented to Turkish-based appliances producer, Arctic. The company is to deliver 300,000 sqm of logistic parks in the next three years.

“Our target is to reach Top 5 logistic developers within the next three years, on the Romanian market”, said Muler Onofrei, CEO & Co-Founder, Element Industrial. “We are now working at the concepts of two new parks in Bucharest, in Craiova ELI PARK 4 is planned, in Targoviste ELI PARK 5 and in Timisoara ELI PARK 6, a total pipeline of 300,000 sqm of class A logistic spaces, for the following three years.”

ELI PARK 1 is a logistic park with a GLA (gross lettable area) of 50,000 sqm. The first phase of 20,000 sqm was delivered this summer, and the second phase, with an area of 30,000 sqm is planned for spring 2020, one of the tenants for the second phase being Paste Baneasa.

ELI PARK 1 is developed in joint venture by Element Industrial and Dedeman Group in Chitila-Buftea area, which is transforming in a new proximity logistic hub for Bucharest. The project is financed by Unicredit Bank.