News Article Budapest e-commerce emag Hungary industrial logistics retail Tudor Manea
by Property Forum | Industrial

Romanian e-commerce player eMAG has secured a financing of around €70 million from Alpha Bank for the development of a logistics hub near Budapest. 

The new warehouse will span up to 120,000 sqm and will be developed following an investment of more than €100 million. 

Tudor Manea, CEO of eMAG, points out that the expansion in Hungary will provide more opportunities for sellers on the e-commerce platform. 

In the first phase, the retailer has used a bridge-loan of €30 million for the development near Budapest. eMAG is the biggest online retailer in Romania and is present in several markets across Central and Eastern Europe.