Element Industrial, controlled by the businessman Ionut Dumitrescu, completed the acquisition of a project to go up on 49 ha of land near Ploiesti. The sellers were One United Properties and the former partners of the investment house Capital Partners. The project initiated by One United Properties represented the developer’s entry into the industrial-logistics sector, but the investor later decided to withdraw from this market segment to focus on mixed developments. Element Industrial is planning to break ground by the end of the year. The Ploiesti Logistic Park project will be renamed Eli Park 7. The contractor will keep the initial development plan, which calls for building 220,000 sqm of storage space and about 20,000 sqm of office space.
