ProLogis build up first industrial facilities in Romania
05 Apr '06
3 min read
"With 22 million people and GDP growth exceeding 5 percent annually, Romania offers tremendous potential for manufacturers, retailers, logistics providers and other companies with distribution needs in this region," said Michael de Jong-Douglas, senior vice president for central and eastern Europe.
Muler Onofrei, ProLogis market officer for Romania, noted that vacancy rates for modern industrial buildings are already very low in Romania today -- about 2 percent. "Romania's scheduled admission into the European Union in January 2007 should accelerate demand even further," Onofrei said. "Investing in Romania now will enable ProLogis to leverage its deep existing relationships with global customers and establish itself as a primary provider of industrial space to the Romanian market."
ProLogis is the largest pan-European provider of distribution facilities, with more than 72 million square feet (6.7 million square meters) owned, operated or under development in 29 markets across the continent. In central and eastern Europe today, the company's platform totals 11.8 million square feet (1.1 million square meters) concentrated around Prague, Budapest, and the Polish cities of Warsaw, Bedzin, Piotrkow, Poznan, Sosnowiec and Wroclaw.
ProLogis is a leading provider of distribution facilities and services, with over 377 million square feet (35 million square meters) in 2,340 properties owned, managed and under development in 77 markets in North America, Europe and Asia, as of December 31, 2005. We continue to expand the industry's first and largest global network of distribution facilities with the objective of building shareholder value.
marketing@alchempro.com
