Dragoș and Adrian Pavăl, the owners of Dedeman, extended their collaboration with the businessman Ionuț Dumitrescu in a new logistics project, in Craiova. Pavăl Holding company took over 70 percent of the company Eli 4 Craiova, through which Ionuț Dumitrescu wants to develop a logistics park of about 54,000 sqm in Craiova.
“We are working on authorizing the project and we will probably start construction this year. It will be a staged development, the value of which will reach the end around EUR 25-30 mln. We are in the same stage with the projects in Bacău, Târgoviște and Timișoara “, said Ionuț Dumitrescu, the founder of Element Industrial.
According to market sources, at this moment, Pavăl brothers and Ionuț Dumitrescu are in negotiations with the South African investor Fortress for the sale of the park in Chitila. If finalized, the transaction would represent Fortress’s entry on the industrial sector and directly on the Romanian real estate market, for now being present only as the main shareholder of NEPI Rockcastle.
