Liebrecht & wooD enters industrial development segment

The credit line was approved during a meeting of Bucharest Industrial Park shareholders, controlled by the Belgian developer.

The some 85,700 square meters of land on which the industrial park is to be built, and the buildings, will serve as collateral for the loan, according to data published in the official gazette.

Liebrecht & wooD entered the local market in 2000, when it built the Militari Shopping Center commercial complex which it later sold to Austrian investment fund Meinl European Land, for €20 mln. The company went on to develop the Victoria Park, sold subsequently to Austrian Immoeast investment fund for €60 mln. Last year, it launched a retail project worth €120 mln along the Bucharest-Pitesti highway.