On a market dominated by large multinationals, as it is the case for Romanian logistics and industrial sector, two local entrepreneurs, Sacha Dragic, the founder of Superbet and Ionut Dumitrescu, the founder of Element Industrial, form a strategic alliance for the development of ELI Parks logistics network. Dragic is entering this joint venture with a new entity, D Craig Real Estate, managed by a Anca Damour, a well-known and respected real estate professional.
Local real estate investor Ionut Dumitrescu founded in 2018 Element Industrial, with a visionary aim to create a new logistic hub in Chitila-Buftea area near Bucharest, fueled by the growing demand of modern class A warehouses and infrastructure works in the area. The first project in the portfolio of Element Industrial was ELI Park 1, a 50.000 sqm GLA class A logistics and industrial park. The project, developed in two phases was successfully sold in 2021 to Fortress, one of the largest real estate investments trusts (REITs) in South Africa.
After the exit, the next plans for Element Industrial are to focus on the development of ELI Parks logistic network, both in Bucharest and in other Romanian cities. In this context, Dumitrescu is to partner with Sacha Dragic and share a 90 million Euro cash injection to accelerate the development of ELI Parks.
“In order to be able to expand rapidly at a national level, we needed partners. Both Anca Damour and Sacha Dragic have the necessary experience for this kind of entrepreneurial approach, in an extremely effervescent sector”, said Ionut Dumitrescu, founder of Element Industrial.
In the first phase, the new partnership between Dumitrescu and Dragic aims to build 500.000 sqm of industrial space in key areas for the development of the domestic economy, in 4 years. In the second phase, the strategy involves accelerated national expansion and interconnection – including through land acquisitions – with logistics parks in Central and Eastern Europe.
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