Element Industrial, owned by businessman Ionuţ Dumitrescu, announces the start of a new project in Buftea Chitila area, near Bucharest. .
The new logistic project, Eli Park 3, will have an area of 72,000 sqm and will be built in several phases, the first consisting of a distribution center of 18,500 sqm. The total investment amounts €37 million.
The project is developed in the vicinity of Eli Park 1, on DN7, in an area that will be transformed into a logistics hub near the new ring road of Bucharest - A0. Eli Park 3 is served by several public transportation lines and it is located at a distance of 4 km from Bucharest. The main advantages are the easy access to the north & center of Bucharest and the location in an area with a surplus of labor force (Chitila / Buftea).
Eli Park 1 will have a total area of 50,000 sqm after completion. Among the tenants are Paste Băneasa, with 5,000 sqm, Arctic with 20,000 sqm and Dentotal with 2,300 sqm, and recently Ziarul Financiar informed that Fortress REIT is interested in buying the park.
Element Industrial is owned by businessman Ionuț Dumitrescu, who has partnerships with several Romanian businessmen to develop a consistent portfolio of logistics and industrial spaces. In addition to the warehouses in Chitila, Element is developing projects in Craiova and has plans for Târgoviște, Timișoara, with a total pipeline of 300,000 sqm in the coming years.
