Investment of E 24 million in Industrial Park Zabalj – Vojvodina (Serbia)
Amsterdam, June 6th, 2007 – Eurasian Real Estate (ERE) announces that it will start the development of 42 hectares of land, together with Walschot Invest, for the joint realization of a Industrial Park in Zabalj, Serbia. The initial investment amounts Euro 24 million for land, infrastructure works and property development. In time, the total investment in industrial space will be over 150 million Euro.
The site is located in Zabalj, 65 km from Belgrade and 20 km from Novi Sad. The Park will face the new projected motorway from Belgrade to Timisoara, close to the junction of the present motorway from Belgrade to Budapest. Proximity to both the Hungarian and Romanian border, as well as Trans-European Corridors VII and X, serves international tenants’ operations.
Construction of the first stage of 20 hectares will start in June 2007, with master planning and ready-to-build land delivery. Construction of a 10,500 m2 multifunctional warehouse will start in Q4, 2007. In total, the first stage will accommodate over 100,000 m2 of light industrial and warehouse space, whereas the full park’s capacity amounts to approximately 200.000 m2 of space built.
Rick van Heumen, Managing Director of ERE, notes that the supply of modern warehouse space in Serbia remains constrained. Demand, meanwhile, is significantly increasing due to strong GDP growth, demographic and consumption factors, as well as the country’s further orientation onto Europe. He says: “ERE’s Industrial Park Zabalj in Serbia is an integrated Industrial Park, providing both national manufacturers and international distributors improved efficiency, as they seek to increase their reach and presence in the region.”
The Groundbreaking Ceremony of Industrial Park Zabalj will take place on June 14th, 2007.
Eurasian Real Estate is a pan-European developer of industrial parks and shopping centers, mostly focused onto Eastern Europe. After Russia and Romania, Serbia is the company’s third country of industrial park development.
Walschot Invest is a company of Dutch origin, specialized in Serbian real estate investments.