MLP Group with new logistics park under construction

MLP

MLP Group has moved forward with the expansion of the MLP Bucharest West logistics park. The new facility of about 16,000 sqm, which is being built on a speculative basis, will be put into operation by the end of this year.

MLP Group started the expansion of the logistics park near Bucharest in May this year. The project is being developed on a speculative basis, which means no prior lease agreements. The new facility, under construction as part of MLP Bucharest West, will provide about 16,000 sqm of modern space. The completed spaces will be put into operation by the end of this year. In accordance with MLP Group's standard, all new investments must meet the highest environmental standards and are subject to BREEAM certification. The functions of general contractor have been entrusted to Sagex Construct.

The Romanian industrial market is changing rapidly. Tenant demand remains strong, although it is characterized by a long decision-making process due to the challenging economic situation. On the other hand, the dynamics of the logistics and retail market require quick action and immediate adaptation of warehouse space.

"Bucharest is the most desirable region and the main industrial center in Romania. Even in the context of economic uncertainty, demand for industrial and logistics space remains relatively high. That's why we have decided to continue the expansion of MLP Bucharest West and deliver an additional 16,000 sqm of GLA on a speculative basis. We want to have ready-made space available immediately to respond flexibly to business demand. Our focus is on tenants from the light industrial and logistics sectors," stressed Olga Melihov, Country Head Romania, MLP Group.

Tenant demand for warehouse space is mainly driven by the nearshoring trend, continued demand for e-commerce activity and the need to restructure supply chains. Interest in new space is also driven by the low availability of vacant space. This creates space for the development of speculative construction.

MLP Bucharest West is a Class A logistics and manufacturing park located on the ring road in Bucharest's northwestern Chitila district. It is built on an 18.3-hectare site and will eventually provide 99,000 sqm of warehouse and light industrial production space. As part of the first phase, a 22,000-square-meter facility was put into operation in 2021, which is now fully leased. The second phase of development began in May this year, with a plan to deliver about 16 thousand sqm by the end of 2023.

source: press materials, MLP Group

You can find more details at MLP Bucharest West MLP Bucharest West

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