A new 80,000m² logistics park, which will be named P3 Bucharest NW Ring Road, will be developed on this land, which has immediate access to Bucharest's newly expanded belt and allows for easy connection with all parts of the capital, as well as the A1 and A3 highways.
Ian Worboys, CEO of P3: "This is the fifth new park to be added to our pan-European portfolio this year. Romania remains a strategic market for P3. We believe that the country has a high growth potential. Our local portfolio has achieved remarkable performance over the past 3 years, growing from 215,000 m2 of warehouses in 2015 to over 380,000 m2 in 2018. With this new acquisition, we reaffirm our long-term commitment to the Romanian market. Our goal is to continue the expansion of local business in a sustainable manner. "
Sînziana Pardhan, P3 General Manager in Romania: "This acquisition is a new step in acheiving of our strategy of expanding the presence of P3 on the Romanian market through new locations in Bucharest as well as in other parts of the country. We are very excited to start this new chapter of P3 development in Romania and we intend to start building the first warehouse in this new park - our first project outside P3 Bucharest - in the second half of 2019 ".
POP & PARTNERS advised P3 during the negotiations for this acquisition. (source: forbes.ro)