The land is located between the old and new Ring Road, and the company intends to develop a logistics park with a total leasable area of 85,000 sqm. Construction could start in the first half of 2025 after the project is authorized.
"Last year, we took a significant step by entering the logistics segment in Bulgaria through the acquisition of a platform operated by a high-performing team, a step that transformed us into the second most important owner of logistics spaces in that country. We are now excited to expand our logistics portfolio in Romania by developing projects that meet the highest standards and requirements of international tenants," said Vladimir Gurdjieff, Director of Logistics & Industrial properties at Lion's Head Investment.
The land deal was assisted by Cushman & Wakefield Echinox and law firm Peli Partners.
In 2024, IFC (International Finance Corporation), part of the World Bank Group, invested €150 million to support the company's logistics developments in Romania and Bulgaria.
Lion's Head also owns the Oregon Park office project in northern Bucharest. The company represents a joint venture of AG Capital and Old Mutual Property, with a real estate investment portfolio of €440 million.
At the end of 2024, the total stock of industrial and logistics spaces in the Bucharest-Ilfov area exceeded 2 sqm, with an occupancy rate of over 95%, according to Cushman & Wakefield Echinox data.
