China Investment Corporation has decided to withdraw plans to sell four Logicor warehouses in Romania and said it intends to launch a local development program. CIC entered the Romanian market in 2017 when it acquired the Logicor portfolio from Blackstone for €12.25bn. The Chinese investor subsequently decided to sell off the four properties, located in Mogosoaia, Pantelimon, Ploiesti and Timisoara, and stop the development process. After deciding not to sell, CIC has resumed development at the sites. Work to expand the logistics park in Mogosoaia with a new 35,000 sqm building has already started.
