From January to March 2021, WDP has already made investments of 80 million euros in projects in the country, but also to buy land for new developments.
The projects completed by the developer at the beginning of this year, according to the report, also include the storage unit from Ștefăneștii de Jos, near Bucharest, rented to Decathlon. The warehouse, with a leasable area of 10,000 square meters, required an investment of 5 million euros.
Among the projects still in development in Romania, with a total value of 131 million euros and a total leasable area of 202,838 m2, are the storage units developed for Profi in Craiova and Rosti in Paulesti, with delivery time the the second quarter of this year, but also the projects developed for LPP and Eobuwie in the park from Ștefăneștii de Jos, the Fedex warehouse in Cluj and the logistics unit rented by Profi in Roman, all with expected delivery for the third quarter of 2021 .
The novelty comes from the developer in connection with a logistics unit not announced so far on the market, which will be developed in a city in Transylvania, a 25,000 sq m unit that is fully pre-leased and will be ready in a year, an investment of 19 million euros. WDP did not mention the development city or the tenant's name in the report, which are currently kept confidential.
For 2022, another delivery is expected, the logistics project developed in Timisoara for Profi, with a leasable area of 57,000 sqm and a total investment of 38 million euros.
In total, WDP projects under development in Romania, Germany, Belgium, the Netherlands and Luxembourg have a leasable area of over 850,000 square meters and a budget exceeding 550 million euros.
According to the company's report, so far the investments in the Romanian portfolio of WDP amount to 764.2 million euros. The leasable area is over 1.1 million m2, and the land area is almost 5 million square meters. Unlike other countries where the group operates (except for Germany), the vacancy rate in Romania is 0%, this being an indicator of the strategy applied by WDP in Romania, that of built-to-suit, a strategy considered more appropriate for markets with a high degree of uncertainty, unlike speculative developments, where there are not necessarily leases signed before the start of development.
Belgian developer WDP is also reporting new land acquisitions for future logistics projects in the Bucharest area: two plots of land have been added to the portfolio, through transactions totaling 10 million euros. (source: WDP)
