Liebrecht & wooD's 73 ha wide plans

Belgian real estate developer Liebrecht & wooD is planning to build a logistics park in north-western Bucharest on an about 20 ha piece of land, Johan Rogiers, CEO of the Romanian branch of the company on Tuesday said. The company currently holds three pieces of land totalling 730,000 sqm, that is 73 ha. Liebrecht & wooD on Monday began the construction of its first complex on the Romanian market, the Militari Shopping Centre on a 200,000 sqm land, located 500 metres away from the Bucharest-Pitesti highway entry, near the Metro store. The 43 million euro investment will materialise in more than 61,000 sqm of shopping space, 10,000 of which have already been rented by Praktiker and about 12,000 sqm for offices and storage. As a comparison, a hypermarket such as Carrefour or the soon-to-open Cora takes up 10-16,000 sqm. The first stage of the construction, that is Praktiker’s bricolage store will be ready in August, with the rest of the space to be built as ordered by tenants. “The project will be completed in up to two and a half years, but if we manage to have the entire complex leased soon, then Militari Shopping Centre could be ready in about a year,” Patrick Van Den Bossche, Liebrecht & wooD CEO said. ZF