Romanian entrepreneurs Dragos and Adrian Paval, the owners of local DIY retail chain Dedeman, continue their collaboration with local investor Ionut Dumitrescu. The three investors will develop a logistics park near Bacau after they initially collaborated to build the ELI Park 1 logistics park near Bucharest.

The company Paval Holding, owned by Dragos and Adrian Paval, took over 80% of Eli 6 Industrial, the investment vehicle set up by Ionut Dumitrescu for developing the logistics park in Bacau.

"The project will have about 65,000 sqm because we have a land of 13 hectares. We have not yet decided when the works will start. The situation created by the pandemic does not affect our decisions, because the industrial [real estate] sector is the least affected," Ionut Dumitrescu told Profit.ro.

The development cost of this project is about EUR 25-30 million.

The Paval brothers started their partnership with Ionut Dumitrescu in August 2019, when they took over 70% of the company that develops the Eli Park 1 logistics park, located in the Chitila-Buftea area, north of Bucharest. Among the tenants of this project are Arctic and Easter Baneasa.

editor@romania-insider.com

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