Dragoș and Adrian Pavăl, the owners of the holding Dedeman, together with the businessman Ionuț Dumitrescu (owner of Element Industrial developer), will acquire a bigger plot of land in the outskirts of Bacau city, in northeastern Romania, for a larger logistics project after they skipped initial plans for such a project near the Hello Shopping Park mall.

Expected to cost EUR 30 mln, the initial project was designed to include 65,000 sqm of logistics space developed on a plot of 13 ha - but it was dropped in favor of an even bigger project, and the land will be used for other purposes.

Dedeman and Ionuț Dumitrescu own in Bacău another plot of land of about 5 ha on Izvoare Street, near the Letea Stadium. Here they were planning to develop a logistics or industrial project with an area of ​​24,900 square meters. But they gave up this plan as well.

"Together with Dedeman holding, we decided to develop a bigger industrial project, but we can't announce the location yet. The other two plots purchased in Bacău under the partnership [with Dedeman] remain in the portfolio, but we will not develop them anymore," Ionuț Dumitrescu, the owner of Element Industrial, told Profit.ro.

(Photo: Roman Motizov/ Dreamstime)

andrei@romania-insider.com