Globalworth, leader of the office market in Romania and Poland, will develop, in partnership with Global Vision, a logistics project in Chitila (Ilfov) with an area of over 77,000 square meters, following an investment of 35,5 million euro, under the Global Logistics brand. The company has also completed the first phase of expanding its Timisoara logistics project, part of Globalworth’s strategy to strengthen its position on this segment of the Romanian real estate market.
„We have thoroughly analyzed the industrial and logistics market in recent years and have seen a steady increase in demand on this segment. We also have the experience of our Global Logistics Timișoara (former TAP) project in the Western side of the country, fully leased, for which we have already started expansion works and which will eventually provide an additional leasable area of approximately 140,000 sqm. Our strategy for the next period includes strengthening our leadership position on the office market and increasing our logistics segment with new projects in other areas in the country as well, starting with Chitila. This investment will be developed in partnership with Global Vision, under the Global Logistics brand, our new platform that will encompass all industrial and logistics projects,” said Dimitris Raptis, Deputy CEO and CIO, Globalworth.
„The partnership with Globalworth, as well as the opportunity to globally develop the Global Logistics brand, honors us and confirms that our vision of developing integrated industrial and logistics projects in the immediate vicinity of major human resource centers and major transport and infrastructure networks is a sustainable one, with significant development potential. In fact, all our analyzes indicate that Romania’s logistics and industrial market is becoming more and more attractive to foreign investors. That is why our intention is to strengthen our unique competence to develop and manage, in an advisory and efficient manner, based on complementary objectives, mixed and ambitious projects dedicated to companies with vision and cross-border aspirations,” added Sorin Preda, CEO, Global Vision.
Global Logistics Chitila is a “last mile” logistics project that will be built on a land of over 136,000 sqm. The development will take place in several phases, with the first 20,000 sqm of logistics space scheduled for delivery in the first quarter of next year. Access is excellent through the A1 motorway, the ring road of the capital and DN7, which facilitate a fast route to the central areas of Bucharest.
In October 2018, Globalworth started the expansion of the Global Logistics Timisoara project, which reached a 100% rental rate. Global Logistics Timişoara II will stretch over 140,000 square meters and will be developed on an area of over 30 hectares. The first phase of the project, nearly 18,000 square meters, has already been completed and the company is in advanced negotiations to let the delivered surface.
The Globalworth portfolio also includes the logistics project developed for Groupe Renault, which will, too, be renamed Global Logistics Piteşti.