Element Industrial announced the development of a 60,000 sqm logistics park in the Romanian city of Craiova. The company will build the €35 million industrial project on an 11-hectare plot of land, near the south ring road of the city, with direct access to the E70 road. The developer plans to deliver ELI PARK Craiova in three phases.
“We believe that the area surrounding Craiova will become an important production and logistic hub if we take into consideration the existing significant investments in the automotive industry as well as the new infrastructure projects in the area,” said Muler Onofrei, CEO & Co-founder of Element Industrial. “We chose Craiova due to the high demand for Class A space, with areas between 2,000 and 10,000 sqm.”
Work is currently underway to obtain building permits, with the construction of the first phase scheduled to start in Q4 2019. Element Industrial plans to develop projects of 50-60,000 sqm under the ELI PARK brand in Bucharest and in secondary and tertiary cities, where there is demand for Class A logistic spaces.
