MLP Group has completed phase two expansion of MLP Bucharest West, its logistics park near Romania’s capital city. The new facility has delivered 16,000 sqm of space designed to contemporary standards, which has already been fully leased.
The furniture manufacturer Spectral Mobilă, which owns a factory in Vaslui county, has started the construction of a logistics center that will require an investment of 8.5 million lei.
The modern stock of industrial and logistics spaces exceeded 7 million sq. m across the country at the end of 2023, almost 80% of the total stock being concentrated in 3 development regions – Bucharest – Ilfov, West and South-Muntenia. Projects with a total area of around 452,000 sq. m were delivered in Romania in 2023, corresponding to a 46% decrease compared with the previous year, a contraction which was caused by a reduced development activity on speculative basis, according to data from the Cushman & Wakefield Echinox.
Transilvania Construcții recently completed the construction of its new logistics park in its portfolio – TRC Park Bacău – a project in which the company invested over 15 million Euros.
Industrial and logistics projects accounting for more than half a million sq. m are currently under construction and due to be delivered by the end of 2024, 60% of which being already pre-leased.
MLP Group has just launched a project to expand the MLP Bucharest West logistics park. The new building of about 16,000 sqm, being developed on a speculative basis, is scheduled for completion by the year’s end.
SPEEDWELL, one of the most active players on the Romanian real estate market, announces the start of the construction works for the second phase of development for SPACEPLUS West project.
MLP Group enjoys a very good financial standing and a safe capital structure enabling the implementation of long-term strategic goals. This is confirmed by the results announced for the first quarter of 2023. During the period, consolidated revenue rose 51% yoy, to PLN 94.7 million, driven by increases in both leased area and rental rates. At the same time, the Group’s EBITDA (without revaluation of investment properties) improved by 59%, to PLN 47.8 million. In the first quarter of 2023, MLP Group earned a net profit of PLN 26.1 million. Since the beginning of the year, the Group’s net asset value (NAV) has gone up 1%, to more than PLN 2.5bn. The value of investment property also rose 1%, to close to PLN 4.5bn.
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