Log Center park in Timisoara: 40m-euro investment

The real estate development group Eyemaxx, in partnership with the Austrian investment fund Immoeast, has completed the first part of the logistic park Log Center in Timisoara, which includes 18,000 square metres of storage space. The investment in the logistic park amounts to 40 million euros in total and will be conducted in two stages. Log Center will be located near the Timisoara airport and will be built on 12 hectares of land. The project will comprise around 51,000 square metres of storage space and 11,000 square metres of class A office space. The entire project is scheduled for completion next year. The logistic park in Timisoara is the first joint investment between the two Austrian companies on the Romanian market, which aim to develop a network of 10 such projects. In Timisoara, the two companies will build only logistic facilities, whereas for the future locations, the projects will also include industrial production areas. The second joint investment of the two companies on the Romanian market is in Ploiesti, where construction will begin this year and end next year. Eyemaxx and Immoeast bought a 40-hectare plot of land in Ploiesti, 10 hectares of which will be used to build storage facilities and the rest will be used for industrial purposes. Eyemaxx management says investors will be able to either rent or buy the industrial facilities, with the investment in Ploiesti amounting to 50 million euros.