GE Real Estate allocates 90m euros for 6 logistic parks

American-held GE Real Estate and Greek-based Helios Phoenix will start an 87.5 million-euro investment programme, aimed at building six logistic parks that will cover an overall area of 315,000 square metres in major Romanian cities. The logistics market – which includes storage facilities and transportation, is expanding in full gear at present, with increasingly more developers announcing massive investments for the next three years. Among the developers that intend to expand onto the local market are ProLogis, Eyemaxx Real Estate, Cefin Holding, European Future Group and Portland Trust. “The logistics and distribution centres will be located near motorways, near main roads and airports. These investments come in response to the demand for such properties on the Romanian market,” say representatives of real estate consulting firm DTZ Echinox.