Element Development has worked with numerous retailers, helping them to extend their network in Romania. The company was involved in complex real estate schemes from land acquisition, to concept development, permitting, leasing and final exit to retail park operators.
We have gathered an impressive track record in retail land development: 27 retail units opened in Bucharest and 15 major cities in Romania, new openings following in the next two years.
Our group has over 10 years of expertise in developing & reconverting successful office projects in Bucharest. The first completed building was HQ Victoriei, a class A boutique building located in CBD. 100% leased, the property was sold in 2012 to an international investment fund.
Our founder, Ionut Dumitrescu was one of the shareholders in Forte Partners developing The Bridge business park, sold to Dedeman Group.
Starting with 2017, Ionut co-founded together with Victor Capitanu and Andrei Diaconescu One Office. The office division of One United Properties has an existing portfolio of 35,000 sqm (One North Gate business park and One Victoriei Center, the former Bucharest Corporate Center) and 150,000 sqm offices in development and construction (One Tower, part of One Floreasca City, One Cotroceni Park and One Verdi Park). For new projects, the strategy is to develop communities in mixed concepts, while for the existing portfolio the owner aims for new investments to improve the product to the present standards.
Our group finalized in May 2018 construction works at Bistrita Retail Park, totaling an investment of 9 million EUR. Located on 13A Moldovei street, Bistrita Retail Park is a 7,850 sq. m shopping gallery in a city of 81,000 inhabitants, 100 km North-West of Cluj-Napoca.
The retail park has a diverse mix, comprising of supermarket (Carrefour Market), sports retailers (Decathlon & Sportisimo), first multiplex in Bistrita, Happy Cinema, furniture & home-deco products (JYSK, Lem’s, Top Shop), pharmacy – Help Net and pet-shop – Zoo Center. Bistrita Retail Park addresses a catchment area of 150,000 persons from the city and its surroundings.
We are developing a portfolio of Class A logistic parks under Element Industrial developer brand.
Eli Parks represent the brand for logistics parks with areas between 50-60,000 square meters. The first one was developed in Bucharest, while we are preparing new projects in Craiova, Bacău, Târgoviște or Timișoara.
Eli Xpress is a new line of business based on the concept of proximity storage. Eli Xpress warehouses will offer areas between 6,000 and 12,000 square meters and will be located close to large cities, or even inside cities. The first one is Eli Xpress Constanta, located on IC Bratianu blvd, leased to Altex and Bere Bauturi.
total value of the developed projects
CREATED & SUCCESSFULLY EXITED
ONE Victoriei Center
ONE North Gate
Bucharest HQ Victoriei
Eli Xpress Constanța
Eli Park 1