Element Industrial announces the development of a 60,000 sqm logistics park in Craiova, a total investment of EUR 35 million. The company will build the industrial project on an 11-hectare plot of land, near the Ford factory and the south ring road of the city, with direct access to the E70 road. The developer’s plan is to deliver ELI PARK Craiova in three phases, a large-scale logistics park designated to serve the southwestern part of the country.
“We believe that the area surrounding Craiova will become an important production and logistic hub, if we take into consideration the existing significant investments in the automotive industry as well as the new infrastructure projects in the area,” said Muler Onofrei, CEO & Co-founder, Element Industrial, adding: “we chose Craiova due to the high demand for class A spaces, with areas between 2,000 and 10,000 sqm.”
Work is currently underway to obtain building permits, with the company planning to start construction for the first phase in Q4 2019. Similar to the Bucharest project, the new logistics park in Craiova will be built following strictly class A international standards, with characteristics such as one loading bay for each 800 sq. m. of warehouse, generous 35 meters truck court and numerous parking places.
As a business strategy, Element Industrial plans to develop projects of 50-60,000 sqm in Bucharest and in secondary and tertiary cities, where there is demand for class A logistic spaces.
The company is targeting to develop a portfolio of industrial and logistics projects under the ELI PARK brand, both in Bucharest and in the country. The first one is ELI PARK 1, a logistics park with a leasable area of 50,000 sqm, which implies a total investment of EUR 25 million in the Chitila-Buftea area, which is seen as a new logistic pole of proximity to the capital. The first construction phase of construction, totaling 20,000 sqm, is scheduled and will be delivered this summer. At the same time, the developer provides an integrated “built-to-suit” package for production and storage facilities.