Cefin to develop 7 industrial parks with 500m euros

Cefin Holding, controlled by the Albarosa family and by Valad Property Group, (an Australian investment fund) will develop a network of 5-7 industrial parks, in the cities with over 100,000 inhabitants, with the average investment in such a project expected to stand at 70 million euros. The industrial parks will be developed over two years, with overall investments worth around 500 million euros. Cefin Holding recently concluded a joint venture with Valad, and will invest 200 million euros in A1 Business Park, formerly A1 Industrial Park, located in the Western part of Bucharest. In 2007, Cefin Holding’s real estate division, Cefin Real Estate Asset Management, sold the A1 industrial park for 70 million euros to investment fund Teesland iOG, currently a division of the Valad group. “We want to replicate the model of the A1 Business Park in cities with over 100,000 inhabitants. We are carefully examining the potential of every city in Romania,” said Umberto Albarosa, a member of Cefin Holding’s Board of Directors.