EBRD encourages green growth in the industrial real estate sector in Romania
Logistics infrastructure development in Romania will receive a boost thanks to an agreement between the European Bank for Reconstruction and Development (EBRD) and Warehouses De Pauw (WDP) for a financing package of EUR 150 million.
WDP develops and invests in logistics property such as warehouses and light industrial space. Its existing international property portfolio amounts to around 5 million m2 and is spread over around 250 sites at prime logistics locations for storage and distribution in Belgium, France, the Netherlands, Luxembourg, Germany and Romania. The company is planning an expansion of its portfolio via development projects at important logistics hubs, enhancing Romania’s infrastructure and creating jobs in a modern and healthy working environment.
The financing will support industrial real estate sector in Romania. WDP group’s business plan aims to double the portfolio from EUR 500 million to 1 billion throughout 2019-23, in the context of the WDP strategic growth plan 2019-23. It will contribute to the implementation of a sustainability management framework, comprising international building certifications and the introduction of novel green measures, including an upgrade of the energy and water efficiency performance and the rollout of an energy management system.
The loan will also support the introduction of two replicable and high-quality training programmes for young people – a new pilot accredited dual education programme for students in technical universities, as well as an internship programme aimed to facilitate school-to-work transition. During the coronavirus crisis, these initiatives have become even more important in order to preserve human capital and ensure that youth are not left behind.
Vlaho Kojakovic, EBRD Director, Property and Tourism, said: “Supporting the development of green industrial real estate is a priority in the EBRD’s Property and Tourism strategy for 2020-24. With this sizeable investment, the EBRD will be contributing to the increase of high-quality, sustainable industrial real estate stock in Romania while also collaborating with WDP on the promotion of local economic inclusion.”
Mickael Van den Hauwe, CFO WDP, added: “Furthermore, this new partnership with a renowned financing player such as EBRD, shows recognition for our company’s business and strategy and allows us to further strengthen and diversify our funding sources.”
Jeroen Biermans, General Manager WDP Romania, expressed the company’s gratitude and expectations about the scale of the investment outreach “We are confident that the development of high-quality logistics infrastructure promotes sustainability across the entire supply chain, therefore supporting the real economy in Romania. We wish to thank the EBRD for their participation in this exciting journey.”
LATEST issue 3/2020