Romanian entrepreneur Ionuț Dumitrescu, the owner of developer Element Development, launches Element Industrial, a company focusing on logistic projects, aiming to develop a 25 million logistical project near Bucharest, in Chitila.
The new company will develop a portfolio of industrial projects, the first being ELI PARK 1, a EUR 25 million logistical project which will be built in two phases on a 10-hectare plot, on DN 7, in Chitila suburb of Bucharest.
„Element Industrial will develop strategically located class A logistic parks. We have taken the decision to start this business on the premises of an increasing consumption determining the significant development of both e-commerce segment and FMCG companies,” says Muler Onofrei, managing partner within Element Industrial.
ELI PARK 1 will include 45,000 sqm of warehousing spaces and offices. The first phase, of 20,000 sqm, will be delivered during the second quarter of 2019.
Ionut Dumitrescu’s Element Development has completed last month Bistrita Retail Park and is involved as shareholder with a 30 percent stake in One Office, One United Properties office development division.