Lithuania’s Eika Group said on Tuesday that its investment management company Eika Asset Management (EAM) is planning to invest over 70 million euros in the construction of logistics warehouses in Poland.
The Lithuanian company has signed an agreement with Poland’s Waimea Holding, which will develop the Nowy Modlin project in the northern part of Warsaw.
The agreement calls for developing the project in three phases. Twenty-five million euros will be invested in the first phase, which will cover 7.54 hectares of land with 38,000 square meters of leasable area.
“Once the first phase is completed, further phases will be decided,” Eika said in a press release.
“The project is expected to cover more than 23 hectares of land, around 117 thousand sqm of leasable area and an investment of more than 70 million euros,” it added.
Paulius Stulgaitis, head of investments at EAM, said the project will be developed close to the new Gdansk-Warsaw highway and Modlin Airport.
“The success of this project is based on its convenient location in Warsaw, close to Modlin Airport and other major transport arteries,” he said in the press release.
Source: BNS
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