Belgian developer WDP exceeds 1 million sq. m of warehouses on the Romanian market

by Romanian Reporter - Tuesday, February 9, 2021 10:51 AM

Belgian developer WDP exceeds 1 million sq. m of warehouses on the Romanian market

FedEx, Decathlon, Rosti, LPP, Eobuwie, and Profi will be the new tenants of the warehouses developed by the Belgian real estate developer Warehouses De Pauw (WDP) in Romania and scheduled for delivery in 2021. 

Romania is the third-largest market for the Belgian group in terms of portfolio value and lettable area, after home markets Belgium and Netherlands. WDP valued its Romanian portfolio of 1.091.813 sq. meters in the financial report for 2020 to €742 million.

Over 40% of the projects with a total lettable area of 534.100 sq. m and a value of €359 million delivered by the company in 2020 were located in Romania, represented a 21% market share for the Belgian developer.

Projects delivered in 2020

WDP delivered 223.600 sq. meters of warehouses in 2020 to clients such as Auchan (77.000 sq. m in Stefanestii de Jos), Ursus Breweries (21.000 sq. m in Buzau), Carrefour (45.000 sq. m in Deva), Aeronamic Eastern Europe, Alcar, Lecom, Aggreko, or Pirelli (62.000 sq. m in Slatina).

The total investment for the delivered warehouses represented €134 million, out of which the largest amounts went to the Auchan (€45 million) and Pirelli (€40 million) warehouses.

Projects under development

The developer will remain one of the most active investors in the Romanian market also in the next years, with projects under development with a gross lettable area of 187.838 sq. m, with various delivery dates, up to 2023. WDP is investing in these projects €116 million from its total investment budget for the next 3 years of 541 million.

Profi, the largest convenience store retailer on the Romanian market, will be one of the biggest beneficiaries of the new warehouses, with 127.000 sq. m delivered in Craiova, Roman, and Timisoara until the second quarter of 2022.

The real estate developer will expand its logistics park in Stefanestii de Jos to include a 15.640 sq. m distribution center for the owner of the website, the shoe retailer Eobuwie. The Polish company will centralize its distribution within Romania in this location, the renting agreement being signed for 5 years. WDP estimates its investment in the Eobuwie warehouse to about €8 million.

Another Polish retailer, the clothing company LPP, the owner of retail brands Reserved, Cropp, House, Mohito, and Sinsay, will also rent 22.000 sq. m in Stefanestii de Jos, after a €10 million investment.

Photo - WDP / Facebook

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