Globalworth Real Estate Investments, the biggest owner of office space in Romania, announced the launch of the Global Logistics brand, which will bring together all its properties in the logistics segment.

The group also announced a new logistics project in Chitila (9 km north-west of Bucharest), which will require a EUR 35.5 million investment.

With the new brand, the company wants to consolidate its position on this rapidly growing market segment. The Chitila logistics project will have an area of approximately 77,000 sqm and will be built in partnership with Global Vision.

Globalworth recently completed the first phase of expanding its Timisoara logistics project.

The inventory of modern industrial and logistics space reached 3.85 million square meters nationwide at the end of March, according to a recent CBRE report quoted by Economica.net. Of this area, 44% is located near Bucharest, 24% in the west and north-west of the country, 16% in the south and 14% in the central area of Romania.

In the first quarter of this year, 109,000 sqm of industrial and logistics space were built. The projects expected to be delivered by the end of 2019 amount to about 620,000 sqm.

editor@romania-insider.com

(Photo source: the company)