ADVERTISEMENT

GE and Helios strike €175 mln deal in Romania

Deals

GE Real Estate Central & Eastern Europe and Helios Phoenix have created a JV to undertake €175 million ($238 million, £118 million) of distribution warehouse developments throughout Romania. 

The companies see high demand for high quality, industrial warehouse and logistics facilities across Romania, underpinned by the country's strong GDP growth. The first seven projects will be in Bucharest, Timisoara, Constanta, Brasov and Cluj. Helios Properties and Phoenix Real Estate formed a joint venture in 2006 to develop and manage industrial warehouse and logistic properties in Romania. Phoenix Real Estate has been active in Romania since 2001 and has already developed over 60,000 square meters of warehouse and logistic facilities.

Helios Properties, which has been trading for 11 years, is a UK industrial warehouse developer, and has procured over two million square meters of space. Karim Habra, managing director of GE Real Estate, said: “These developments will be the first bespoke portfolio of logistics warehouses in Romania, a market which is currently under-supplied.”
“The recent EU accession is expected to further enhance Romania's GDP growth and consumer and industrial demand, which in turn will lead to greater demand for warehouse space.” (citywire.co.uk)

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.