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Immoeast and EFG to invest 300 million euro to build logistics centers in Romania

Luni, 4 iunie 2007, 0:00

Real estate investment fund Immoeast and developer European Future Group (EFG) will invest 300 million euro in the coming years to build several logistics centers in Romania. An Immoeast press release says the Austrian fund will build eight to ten such centers with a total rent area of 400,000-500,000 square meters.

The document also says the developer is negotiating with an international logistics company planning to rent areas in all centers due to be built in Romania.

The first such center will be situated near Bucharest where the two companies have bought 150,000 square meters within the Astra Industrial Park. The Pantelimon Warehouse center is due to be developed here with a total rent surface of over 50,000 square meters. The total investment for the project amounts to 35 million euro.

According to Immoeast general manager Karl Petrikovics, “the new network of logistics centers completes our portfolio now formed of office buildings and commercial centers”. “In Romania, the demand for logistics space is higher than the offer and we’ll have the opportunity to develop” such a network, he says.

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