News Article Bucharest development Element Industrial industrial logistics Romania
by Property Forum | Industrial

Element Industrial announced the completion of the first phase at ELI PARK 1 Chitila. The warehouse, with an area of 20,000 sqm is rented to Turkish-based appliances producer, Arctic. The company has already begun its operations in the new logistics space.

“Our target is to become one of the top 5 logistic developers on the Romanian market within the next three years”, Muler Onofrei, CEO & Co-Founder, Element Industrial, said, adding: “We are now working on two new parks in Bucharest, in Craiova ELI PARK 4 is in permitting stage, and we are making progress with ELI PARK 5 in Targoviste and ELI PARK 6 in Timisoara, a total pipeline of 300,000 sqm of class A logistic spaces, for the following three years.”

ELI PARK 1 is a logistic park with a GLA (gross lettable area) of 50,000 sqm. The first phase of 20,000 sqm was delivered this summer, and the second phase, with an area of 30,000 sqm will be delivered in the spring of 2020, one of the tenants for the second phase being Paste Baneasa. The logistic project is served by several public transportation lines and is located at a distance of 4 km from Bucharest Ring Road, with direct access to a national road with four lanes, DN 7. The main advantages are easy access to northern Bucharest and the location in an area with workforce surplus. ELI PARK 1 is developed in a joint venture by Element Industrial and Dedeman Group in Chitila-Buftea area, which is transforming in an established logistics hub for Bucharest. The project is financed by Unicredit Bank.

All the projects developed under ELI PARKS brand are designed and executed following class A international standards, with characteristics such as one loading bay for each 800 sqm of warehouse, generous 35 meters truck court and numerous parking places. 

Element Industrial, launched by Ionut Dumitrescu and Muler Onofrei, 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 ones are in Bucharest – Chitila area and Craiova – south ring road. At the same time, the developer provides an integrated "built-to-suit" package for production and storage facilities.