Globalworth to develop EUR 35.5m logistics project in Romania

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Globalworth leading office investor operating in Romania and Poland is rebranding its industrial space portfolio to Global Logistics as part of its strategy to consolidate its position in this fast-growing market and announces a new project near Bucharest with an investment cost of EUR 35.5 million. The company plans to develop a new industrial park in Chitila (Ilfov county), with a leasable area of about77,000 sqm, which will be built in phases in partnership with Global Vision, a leading construction and property management company in Romania. Recently, Globalworth also completed the first phase of the extension to its logistics project in Timisoara.

We continue to recognise the strong demand in the industrial and logistics sector. Our Global Logistics Timisoara project (formerly Timisoara Airport Park) in the Western part of the country has been a great success and is fully leased to well-established companies. Our strategy remains focused on strengthening our position as leader of the office market but also increasing our presence in the logistics segment through new projects, starting with the expansion of Global Logistics Timisoara and the new investment in Chitila in partnership with Global Vision. These investments will be developed under our new Global Logistics platform and brand, that will integrate all our light-industrial and logistics projects”, said Dimitris Raptis, Deputy CEO and CIO of Globalworth.

The partnership with Globalworth honours us and confirms that our vision to develop integrated industrial and logistics projects, close to large workforce and with access to major infrastructure and transport hubs, is sustainable and has the potential for significant growth. Our analysis also indicates that the logistics and industrial market in Romania is becoming increasingly attractive to foreign investors. For these reasons, we intend to use our complementary competence to advise on, develop and manage ambitious mixed projects dedicated to companies with vision and cross-border aspirations”, added Sorin Preda, CEO of Global Vision.

The new project in Chitila is a last-mile logistics park in Chitila, located in Ilfov county near Bucharest, which will be built on a land plot of over 136,000 sqm. The development will be done in phases, with the first 20,000 sqm of  industrial space being scheduled for delivery in H1 2020. The location benefits from excellent accessibility, being positioned next to the Bucharest ring road which connects the project to the A1 and N7 roads and the city’s central districts.

Globalworth’s portfolio also includes a logistics project developed for Groupe Renault, which will be rebranded Global Logistics Pitesti.

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