Belgian developer announces €75 million investments in Romania
Belgian real estate developer Warehouses De Pauw (WDP) announced €75 million worth of new investments in Romania. The group will add some 130,000 sqm in property to its local portfolio, both through new development projects and through acquisitions for existing and new clients.
On completion, this new investment package will bring WDP’s total property portfolio in Romania to about €500 million, or 15 percent of its total property portfolio, by late 2019. The Belgian company will develop two new warehouses totaling 80,000 sqm at its site in Stefanestii de Jos for Metro and fashion retailer LPP. These investments will total €43 million.
The group will also buy a 33,000 sqm warehouse in Cluj-Napoca, which is fully leased to retailer Profi, for an estimated €22 million. It will also build a 20,000 sqm warehouse next to the Ursus beer factory in Buzau, which will be leased to the brewer. This investment amounts to €10 million.