Liebrecht & Wood to invest 35m euros

Belgian construction project developer Liebrecht & Wood will begin running its second major project on the Romanian market next spring. With its 90,000 sqm storage space and 5,000 sqm office space, Bucharest Logistic Center will entail some 30-35 million euro investments. The short supply of logistics space on the Romanian market is the main reason for the Belgian developer’s involvement in this project. “The availability of logistics centres in Romania is rather low at the moment. Such objectives are usually comprised of small or old buildings, which may be covering a wide area but are in no way up to the Western standards. The lack of facilities will be soon covered by our project,” stated Johan Rogiers, Liebrecht & Wood Romania managing director. He added the new complex would be reached both by car and by railway, as it would be located close to the main road used by the trucking companies’ vehicles to get in and out of Bucharest. “The construction is due to begin in the spring of 2004 and its completion depends upon demand. Negotiations are now in progress for 25% of the total project. If demand turns out to be high enough, Liebrecht & Wood has another 25 ha on stand-by that can be used to expand the project,” Rogiers explained. ZF