Belgian real estate developer Warehouses DePauw (WDP) will be investing EUR 4 million in the development of a logistics project near Ploiesti with a surface of nearly, 7,000 sqm for Spanish producer of hydraulic components Grupo Industrial Roquet.
“Through WDP Development RO we will construct a logistics building of 7,000 square meters for Roquet, an auto-industry supplier, on the basis of a long-term rental contract which includes finalization in the first quarter of 2015. The budget for this investment is EUR 4 million”, according to a company report.
WDP Development RO represents a joint venture owned by the Belgian developer (51 percent) and Jeroen Biermans (49 percent).
Warehouses DePauw owns assets or EUR 26.4 million in Romania, including two logistics buildings near Pitesti and lands of 860,000 squaremeters in different areas of the country.
“Romania’s economy started its recovery in 2013 and is continuing in 2014 with positive effects on the logistics market. We can observe an interest in growth for the local market, given the availability of workforce and low salaries, combined with an improving infrastructure. Activities will continue to be focused on Western and Central Romania”, according to the source cited by zf.ro.
The European Bank for Reconstruction and Development (EBRD) announced in February it granted a EUR 5 million loan to Spain’s Group Industrial Roquest, which will be used to co-finance the construction of a new greenfield plant near Ploiesti.