Belgian real estate developer WDP to launch new 75 million Euro projects in Romania
WDP kicked off its Investor Day in Romania by announcing an additional investment volume of around 75 million Euro, amounting to some 130,000 sqm in property, both through new development projects and through acquisitions for existing and new clients. 2018-10-01 10:55:11
On completion, this new investment package will bring the total property portfolio to around 450 million Euro, with projected portfolio investment growth approaching 500 million Euro (or 15 per cent of the total WDP property portfolio) by late 2019.
On its existing site in Stefanestii de Jos near Bucharest, WDP is breaking ground on two new warehouses totalling around 80,000 sqm. These buildings will be developed on the parcel purchased in late 2017.
WDP will develop a new food logistics warehouse for Metro totalling 58,000 sqm. The building will be delivered in phases starting in early 2020 and consists of both a non-temperature-controlled warehouse and a refrigerated and frozen storage space for food distribution. Metro is signing on to a long-term ten-year lease for this site.
In addition, a new distribution centre for development of over 22,000 sqm, slated for delivery during the second quarter of 2019, will accommodate the e-commerce activities of clothing specialist LPP. LPP will lease this new warehouse for a period of ten years.
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