American company ProLogis, which owns 40 million square metres of worldwide logistics space, will invest 180-200 million dollars (135-150 million euros) in developing the first two stages of the ProLogis Park Bucharest A1 project comprising 317,000 square metres of logistics space, according to company representatives. The project, which will be developed next to the Bucharest-Pitesti highway, is to be completed within the next three years. ProLogis intends to expand further on the Romanian market, and is in negotiations to acquire land in provincial cities with around 300,000 inhabitants, where it intends to develop industrial projects. "We are negotiating the acquisition of land in several cities in the country, but so far we haven't purchased anything. Our expansion outside Bucharest depends on the demand of our clients and on the development of infrastructure projects in Romania. Our clients are interested in cities such as Timisoara, Cluj-Napoca and Arad," said Michael de Jong-Douglas, regional manager for Central and Eastern Europe of ProLogis.
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