VGP, the pan-European provider of high-quality logistics and semi-industrial real estate, is accelerating the expansion of its Romanian footprint by having launched the construction of three new buildings of about 30.000 m2 each in VGP Parks Arad, Brasov & Bucharest North.

At European level, the Belgian developer just released the 2021/H1 results ending the semester with a very strong operating performance resulting in a record net profit of € 203.8 million. As of 31 August 2021, a total of 1,559,000 m2 is under construction through 59 projects and with a prime and ready-to-build land bank of over 8.5 million m2 owned or committed.

“Whilst I am very proud of what has been achieved, at the same time we are looking forward to the ambitious journey that lies ahead. We have several more prestigious projects in our pipeline and we are working hard on potentially starting up new countries both in East and Western Europe. At the same time we are continuing to expand our Corporate and Social Responsibility agenda, making each of our countries, assets and over 300 employees active contributors to our CSR objectives. Whilst our photovoltaic roll-out continues above plan – with 133MWp in solar panel installations underway we will soon produce sufficient solar energy to support 37,000 households,” said Jan Van Geet, CEO of VGP.

VGP in Romania, started in July and August construction of new buildings in three different parks, VGP Park Bucharest North, VGP Park Arad & VGP Park Brasov thus executing its 2020 announced development and expansion strategy aiming to achieve a better national coverage and to strengthen the market position.

VGP Park Bucharest (North) with its strategic location at the crossroads of A3 and Bucharest Ring, started past weeks the construction of its first building of about 28,000 m2 that is set to be finished Q1/2022.

The park, developed on a plot of approx. 250,000 m2 is expected to be able to accommodate three more buildings reaching a total potential rental area of approximately 120,000 m2.

VGP Park Arad launched in July the construction of the first building of 28.500 m2 total lettable area. The space is partly pre-let by two high profile logistic & courier operators that have chosen VGP Arad to set their operational base for the region.

VGP Park Arad, developed on a land plot of 39 Ha with a potential lettable area of up to 200,000 m2, is strategically positioned within Arad city limits, with perfect connectivity to European road networks being adjacent to the A1 highway and just 50 km away from Timisoara and the border point (Nadlac).

VGP Park Brasov, launched in Q4/2020 has completed successful delivery of its first 9,500 m2 building to two tenants and has recently launched the construction works for the 2nd building of 27,500 m2 that is expected to be completed in Q1/2022. The new building will have the flexibility to accommodate small and medium-sized operations as well as to meet the requirements of the local market for such spaces.

VGP Park Brașov is developed on an area of approximately 390,000 m2 and will have a total potential of 180,000 m2 available space for rent. The logistics park is located adjacent to the city and the ring road of Brașov and has direct access from the national road E68 to Sibiu, being very close to the connection with the future A3 Bucharest-Brașov-Sibiu highway.

“It is always a special moment to kick-start the construction of a new VGP park by launching the ground works for the first building at the park. This time, as we launch almost in parallel two brand new VGP Romania locations Arad & Bucharest, makes it even more valuable. If we are to add the start at the very same time of the 2nd building in our VGP Park Brasov that was launched late last year, we can say that VGP Romania’s expansion plans are now well underway. Adding the 90,000 m2 of new space to our portfolio will boost VGP in Romania to above the quarter of a million m2 lettable area milestone as well.” said Adrian Crizbasianu, Country Manager of VGP Romania.

VGP NV sustainability targets

VGP has committed to reducing scope 1 and 2 GHG emissions by 50% by 2030 and to achieving net-zero carbon neutrality by 2025. Additionally key targets were set for increasing green power generation capacity to 200MWp & for certifying all new buildings with BREEAM Very Good or equivalent.

The VGP Green Finance Framework provides a clear and transparent set of criteria which facilitates investments in renewable energy, energy efficiency and environmentally friendly projects which are part of VGP’s asset portfolio. The framework enabled VGP to successfully issue its first public benchmark green bond for an aggregate nominal amount of €600 million in March 2021.

VGP Foundation was set up in 2019 in order to give something back to society, regardless of the contribution made by the company in its daily operations. VGP has committed to contribute circa 1-2% of its annual profit into the VGP Foundation. The foundation aims to encourage nature conservation, have an impact on local communities through social projects, and conserve and protect European cultural heritage. The Foundation operates independently of VGP’s operative business and is involved in projects which it considers important.

VGP Park București

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