Romanian investors Dragoș and Adrian Pavăl, the owners of a business group having at its core the largest local DIY network - Dedeman, received the Competition Council's green light for developing the Eli Park 1 project, a logistics project located in the Chitila-Buftea area (northwestern Bucharest) in partnership with Element Industrial, a company founded by Ionuț Dumitrescu and Muler Onofrei, Profit.ro reported.

The investment was announced in June.

The Competition Council has now greenlighted the takeover of the companies Element Distribution Center and Element Distribution Center Faza Doby the Paval brothers.

Eli Park 1 will be a logistics park with a lettable area of 50,000 square meters. The first phase, totaling 20,000 square meters, is under construction to be delivered in the summer of this year when the works will start for in the second phase.

Element Industrial announced in January that it would invest EUR 20 million in the first phase of this project. The first tenant of the logistics park is Paste Baneasa bakery, which already leased a surface of 5,000 sqm.

(Photo: Pixabay)

editor@romania-insider.com