Greek toy and home decoration retailer Jumbo has started construction of its first warehouse in Romania, which will also include office spaces. It will invest about EUR 35 million in the project that will be located on a plot in the southern part of Bucharest (Popesti-Leordeni) that the company purchased from Alpha Bank, Profit.ro reported.

This is the first warehouse developed by Jumbo in Romania.

The warehouse has a total built area of over 75,000 sqm, and will include 500 sqm of offices. It will also have over 8 hectares of green areas.

The investment project amounts to EUR 35 mln, and the delivery deadline is the first half of next year.

Last year, Jumbo bought a 17.8-hectare plot of land from Alpha Real Estate Services, the real estate division of the Greek bank Alpha Bank, in a transaction valued at over EUR 2.8 mln. The land is part of the logistics park developed by the Polish group MLP in Popesti-Leordeni and taken over by Alpha Bank in 2014, in exchange for some claims.

Alpha Bank also sold about 20 hectares of the same logistics park to CTP for over EUR 3.2 mln.

andrei@romania-insider.com

(Photo source: Lenutaidi/Dreamstime.com)