Belgian real estate developer WDP (Warehouses de Pauw) recorded in 2018 a net result of EUR 328.8 million at the group level, driven in part by an increase of EUR 208.3 million in the underlying value of its property portfolio. The developer owns over several warehouses around Romania, with a total of over 300,000 square meters. The occupancy rate at the end of 2018 was 97.5 percent and the duration of the lease contracts is 5.8 years. The value of total investments made last year was EUR 350 million, of which EUR 100 million were invested in Romania. Among the acquisitions made last year there is a space of 23,000 sqm in Brazi, near Ploiesti, which is currently being expanded with an additional 11,000 sqm and it is leased to Carrefour for a ten-year period. Another important investment was the acquisition of 64,000 sqm of land in Slatina. The company also made purchases in Cluj-Napoca (33,000 sqm), Brasov (20,000 sqm) and Timisoara (37,000 sqm). The developer is working on the distribution centre for Carrefour in Deva, under a ten-year lease, which will be responsible for deliveries to its supermarkets. Completion of this new building is scheduled for the fourth quarter of… Read full this story
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